Options Skew Analytics

AXP option chain

Strikes around the forward, as they were quoted at the close

Data as of 9 November 2026 (end of day)

2026-11-13(4 days)ATM 30.47%±10.38skew +3.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$290.0045.00%$0.01$0.0614534
03$28.75$32.00—$295.00—————
02$23.80$27.05—$300.00—————
146$19.30$21.35—$305.00—————
30$16.95$19.35—$307.5036.01%$0.34$0.373555
512$15.75$15.95—$310.0035.13%$0.50$0.54148114
51$13.45$13.65—$312.5034.12%$0.72$0.774950
2351$11.35$11.50—$315.0033.20%$1.04$1.09231118
710$9.30$9.45—$317.5032.49%$1.49$1.566771
29115$7.40$7.55—$320.0031.76%$2.11$2.178073
7449$5.70$5.80—$322.5031.16%$2.92$3.004953
380239$4.25$4.35—$325.0030.56%$3.95$4.05244270
36197$3.05$3.1530.14%$327.50—$5.25$5.354417
1282,345$2.11$2.1929.80%$330.00—$6.80$6.906014
7196$1.40$1.4529.47%$332.50—$8.55$8.70113
2132,651$0.88$0.9329.21%$335.00—$10.55$10.65213
5652$0.54$0.5829.16%$337.50—$12.70$12.8501
188373$0.31$0.3529.07%$340.00—$15.00$15.2016
—————$342.50—$16.40$18.4010
—————$345.00—$18.30$21.2510
2595$0.02$0.0630.47%$350.00—————

Forward $325.30. The 25-delta put carries +3.02 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 28.13%±15.90skew +3.44
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0326$25.25$27.40—$300.0034.02%$0.67$0.731,39449
03$23.15$24.55—$302.5033.32%$0.85$0.91875
1228$21.20$22.60—$305.0032.55%$1.06$1.1350437
410$18.10$20.45—$307.5031.89%$1.34$1.419736
92877$17.20$17.35—$310.0031.24%$1.68$1.761,602309
5948$15.15$15.30—$312.5030.64%$2.11$2.1913355
33276$13.15$13.35—$315.0030.15%$2.65$2.73410165
1796$11.25$11.45—$317.5029.58%$3.25$3.4017025
331,278$9.55$9.75—$320.0029.11%$4.05$4.151,30997
480$8.00$8.15—$322.5028.71%$4.95$5.10167156
120435$6.55$6.70—$325.0028.21%$6.00$6.15189120
75313$5.35$5.4528.01%$327.50—$7.25$7.408156
392,097$4.20$4.3527.56%$330.00—$8.65$8.8045946
16144$3.25$3.4027.18%$332.50—$10.20$10.351743
146279$2.49$2.5926.88%$335.00—$11.90$12.10643
26711$1.88$1.9626.71%$337.50—$13.80$14.005410
116965$1.38$1.4526.50%$340.00—$15.85$16.0522568
39367$1.00$1.0626.37%$342.50—$16.95$19.50520
18115,427$0.73$0.7626.35%$345.00—$19.15$20.95160
17—$0.50$0.5526.27%$347.50—$21.45$23.65—0
1072,462$0.36$0.3826.31%$350.00—$23.95$25.901300

Forward $325.55. The 25-delta put carries +3.44 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 26.67%±19.30skew +3.87
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$25.70$28.40—$300.0031.13%$0.98$1.441111
0—$24.15$25.45—$302.5030.61%$1.27$1.66—3
03$22.10$23.45—$305.0029.55%$1.57$1.793918
0—$19.55$21.40—$307.5029.64%$1.67$2.62—0
010$17.25$19.65—$310.0028.94%$2.37$2.70550
0—$15.85$17.05—$312.5028.04%$2.74$3.15—0
033$14.05$15.20—$315.0027.85%$3.45$3.7519020
0—$12.15$13.20—$317.5028.01%$4.10$4.80—0
5188$10.85$11.45—$320.0027.55%$5.05$5.45563
0—$8.75$10.35—$322.5027.40%$5.55$6.95—5
22242$7.90$8.50—$325.0026.81%$7.05$7.45194
0—$6.50$7.3526.56%$327.50—$8.00$8.65—0
285$5.40$5.9525.95%$330.00—$9.55$10.00175
0—$4.15$5.0025.38%$332.50—$10.80$11.70—0
1133$3.45$3.9025.06%$335.00—$12.35$13.65760
0—$2.43$3.1024.16%$337.50—$14.15$15.20—0
23237$2.20$2.5224.92%$340.00—$16.10$17.55210
—————$342.50—$17.55$19.45—0
2136$1.16$1.5524.27%$345.00—————
2—$1.02$1.3525.22%$347.50—$21.60$23.80—0
14105$0.76$1.0325.08%$350.00—————

Forward $325.95. The 25-delta put carries +3.87 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 26.42%±22.55skew +3.35
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$45.20$48.15—$280.00—————
01$40.45$42.70—$285.00—————
—————$295.0031.43%$1.08$1.651301
—————$300.0029.44%$1.48$1.911412
01$22.65$24.75—$305.0029.16%$2.38$2.62354
046$19.10$20.60—$310.0028.57%$3.30$3.70292
02$15.45$16.95—$315.0027.89%$4.55$5.00252
6113$12.15$13.20—$320.0027.29%$6.20$6.65751
126$9.30$9.95—$325.0026.63%$8.25$8.6563
6110$6.85$7.4526.14%$330.00—$10.35$11.7060
379$4.90$5.4025.75%$335.00—$13.35$15.05140
373$3.35$3.7025.22%$340.00—$16.85$18.4070
186$2.19$2.4624.80%$345.00—————
433$1.20$1.7824.53%$350.00—————
122$0.68$1.1124.14%$355.00—————
—————$360.00—$33.90$36.1011

Forward $326.18. The 25-delta put carries +3.35 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 26.34%±25.45skew +3.34
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$55.00$58.30—$270.00—————
—————$295.0029.67%$1.57$1.82124
—————$300.0029.31%$2.10$2.69272
01$23.85$25.85—$305.0028.22%$2.83$3.4080
02$20.25$21.50—$310.0027.90%$3.90$4.6583
—————$315.0027.04%$5.10$6.00242
02$13.25$14.35—$320.0026.35%$6.75$7.65131
59$10.30$11.30—$325.0026.49%$8.80$10.25251
129$7.75$8.9026.08%$330.00—————
44$5.80$6.8025.84%$335.00—$14.20$15.6510
18$4.00$4.7524.80%$340.00—$17.60$19.00150
15$2.79$3.4024.56%$345.00—$20.80$22.80130
112$1.51$2.4023.65%$350.00—————
03$1.23$1.9024.88%$355.00—————

Forward $326.28. The 25-delta put carries +3.34 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 26.03%±27.79skew +3.36
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$139.35$143.20—$185.00—————
030$134.20$138.10—$190.00—————
076$129.40$133.25—$195.00—————
023$124.45$128.30—$200.00—————
126$114.60$117.85—$210.00—————
0188$104.70$107.90—$220.00—————
031$94.75$98.00—$230.00—————
033$84.85$88.00—$240.00—————
078$75.00$78.20—$250.00—————
099$65.70$68.40—$260.00—————
0162$55.85$58.25—$270.0033.39%$0.44$0.621,0481
168$46.35$48.80—$280.0032.49%$0.87$1.231,0427
1367$37.45$39.35—$290.0030.26%$1.61$1.7858732
4754$28.90$30.65—$300.0029.13%$2.85$3.201,73035
2346$21.15$22.65—$310.0027.83%$4.90$5.251,04711
34864$14.65$15.00—$320.0026.75%$8.00$8.501,17916
171,138$9.10$9.7025.85%$330.00—$12.50$13.101,0193
421,402$5.30$5.7025.20%$340.00—$18.25$19.155361
1891,730$2.76$2.9924.46%$350.00—$25.35$27.051920
381,161$1.19$1.5023.84%$360.00—$34.45$36.651200
1890$0.60$0.9424.94%$370.00—$43.55$46.1001

Forward $326.59. The 25-delta put carries +3.36 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 26.27%±30.16skew +4.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$290.0029.94%$1.64$2.4461
—————$295.0029.24%$2.18$3.1020
—————$300.0028.99%$2.80$4.2521
—————$315.0026.97%$6.35$7.75100
03$15.30$16.55—$320.0026.63%$8.30$9.45100
61$12.35$13.60—$325.0026.43%$10.35$11.8020
83$10.00$11.0026.17%$330.00—$12.90$14.1022
22$7.75$8.6525.57%$335.00—————
04$5.85$6.8025.19%$340.00—$18.85$20.30230
01$4.25$5.1524.65%$345.00—————
50$3.10$3.7524.22%$350.00—————
620$2.25$2.8824.29%$355.00—————
51$1.58$2.1024.14%$360.00—————

Forward $326.91. The 25-delta put carries +4.77 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 25.47%±35.70skew +3.87
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0254$125.20$128.40—$200.00—————
0131$115.25$118.45—$210.00—————
1244$105.30$108.60—$220.00—————
0177$95.60$98.75—$230.00—————
0232$85.75$88.90—$240.00—————
8297$76.15$79.10—$250.0033.79%$0.44$0.576051
0212$66.60$69.05—$260.0032.90%$0.73$1.039122
27240$57.35$59.10—$270.0031.00%$1.20$1.399210
0198$48.15$49.80—$280.0029.87%$1.98$2.183,8289
0228$39.20$41.25—$290.0029.26%$3.20$3.651,2743
0860$31.65$33.20—$300.0028.01%$5.00$5.252,02933
6804$24.55$25.70—$310.0026.97%$7.40$7.801,52835
122,452$17.95$18.55—$320.0026.12%$10.90$11.201,59915
324,034$12.50$13.1025.41%$330.00—$15.40$15.8092042
10767$8.40$8.7524.81%$340.00—$21.15$21.804442
282,879$5.15$5.6024.14%$350.00—$27.75$29.155850
31,030$3.15$3.4523.93%$360.00—$35.45$37.202260
71,804$1.73$2.0223.54%$370.00—$44.45$46.352830
11,139$1.00$1.2023.68%$380.00—$53.65$56.35520
0594$0.53$0.7323.84%$390.00—$63.25$66.4550
—————$400.00—$73.30$76.4520

Forward $327.18. The 25-delta put carries +3.87 volatility points over the 25-delta call.

How to read this

Calls on the left, puts on the right, the strike between them — the layout every chain uses. Each block is one expiration, and the heading carries its days to expiry, the at-the-money implied volatility, and the one-standard-deviation move that volatility implies over that time.

Only the 21 strikes nearest the forward are stored, which is the part of the board that carries the volume. The shaded side is in the money: below the forward for calls, above it for puts.

Implied volatility is shown on the out-of-the-money side only. An in-the-money option is nearly all intrinsic value quoted on a wide market, so a volatility solved from it would look authoritative and mean very little. The price is still shown, because the price is real; the blank is deliberate.