Options Skew Analytics

AXP option chain

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

Data as of 23 September 2026 (end of day)

2026-09-25(2 days)ATM 28.73%±6.43skew +0.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$60.90$64.25—$240.00—————
01$51.00$54.20—$250.0096.79%$0.01$0.042328
—————$260.0074.43%$0.01$0.022626
03$31.70$34.00—$270.0059.09%$0.01$0.031562
03$26.65$29.00—$275.00—————
0—$19.10$20.30—$282.50—————
—————$285.0036.72%$0.02$0.07827
01$11.75$12.90—$290.00—————
11$7.20$8.20—$295.0030.69%$0.40$0.62665174
—————$297.5029.13%$0.79$1.0030352
1935$3.60$3.85—$300.0028.81%$1.48$1.78862123
93$2.20$2.5828.72%$302.50—$2.57$2.92237119
6317$1.22$1.5228.42%$305.00—$4.10$4.651,086234
87113$0.66$0.7828.36%$307.50—$5.80$6.4537431
194247$0.33$0.4028.84%$310.00—$7.60$8.6527076
59204$0.15$0.2430.10%$312.50—$9.95$11.102288
—————$315.00—$12.70$13.9028620
—————$317.50—$14.85$16.351070
31339$0.01$0.0634.66%$320.00—$17.70$18.8521522
—————$322.50—$20.05$21.3570
4446$0.02$0.0844.69%$325.00—$22.35$23.5046

Forward $302.14. The 25-delta put carries +0.78 volatility points over the 25-delta call.

2026-10-02(9 days)ATM 24.77%±11.76skew +1.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
65$22.05$23.30—$280.00—————
01$17.35$18.55—$285.00—————
—————$287.5025.74%$0.49$0.7443
10$12.85$14.00—$290.0025.80%$0.82$1.097081
—————$292.5025.63%$1.24$1.55415
01$8.90$9.85—$295.0025.36%$1.83$2.1015840
—————$297.5025.16%$2.58$2.8553216
253$5.75$6.15—$300.0024.94%$3.50$3.8015641
114$4.35$4.8024.77%$302.50—$4.65$4.95399
199$3.30$3.7024.93%$305.00—$5.95$6.3020737
2,401106$2.33$2.7324.55%$307.50—$7.05$8.2517044
21185$1.57$2.0024.34%$310.00—$8.95$10.0014015
2,48271$1.01$1.4324.16%$312.50—$10.75$12.005014
14120$0.70$1.1024.86%$315.00—$12.95$14.0012317
816$0.46$0.7524.92%$317.50—$15.05$16.45310
—————$320.00—$17.40$18.851005
—————$322.50—$19.85$21.25570
—————$325.00—$22.30$23.7020432
—————$327.50—$24.85$26.05530
—————$330.00—$27.35$28.602920
—————$332.50—$29.85$31.05600

Forward $302.27. The 25-delta put carries +1.02 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 24.84%±15.72skew +1.53
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$280.0027.08%$0.60$0.7716405
—————$285.0026.57%$1.09$1.3818406
340$15.80$17.15—$287.5026.22%$1.46$1.76714
—————$290.0025.87%$1.93$2.22651481
—————$292.5025.58%$2.40$2.92312
20$10.05$11.05—$295.0025.55%$3.25$3.60563505
—————$297.5025.59%$4.10$4.60122
01$7.05$7.95—$300.0025.42%$5.15$5.608621
—————$302.50—$6.35$6.75133
1220$4.60$5.1024.41%$305.00—$7.75$8.30687
57$3.60$4.3524.78%$307.50—$9.25$9.95116
39134$2.88$3.2524.38%$310.00—$10.85$11.50642
89$2.13$2.5124.05%$312.50—$12.30$13.4066
744$1.62$1.9424.10%$315.00—$14.25$15.40366
45$1.15$1.4823.94%$317.50—$16.25$17.5002
413112$0.93$1.3325.08%$320.00—$18.65$19.85384
—————$325.00—$23.00$24.35240
6519$0.23$0.3724.81%$330.00—$27.75$29.3090
—————$335.00—$32.60$34.15111
—————$340.00—$37.50$38.8540
—————$345.00—$42.45$43.7020

Forward $302.13. The 25-delta put carries +1.53 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 24.21%±18.35skew +0.96
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$27.20$28.85—$275.0027.05%$0.62$0.89318
052$23.00$24.20—$280.0026.24%$1.09$1.3158619
10$18.65$19.85—$285.0025.29%$1.66$2.01809
012$16.55$17.75—$287.5025.11%$2.22$2.42934
087$14.70$15.75—$290.0025.08%$2.77$3.101,19054
04$12.90$13.85—$292.5024.81%$3.45$3.754916
010$11.05$12.05—$295.0024.63%$4.30$4.506919
010$9.70$10.05—$297.5024.54%$5.20$5.50131134
4114$8.25$8.60—$300.0024.35%$6.25$6.552,52356
29$6.75$7.3024.21%$302.50—$7.45$7.759329
334210$5.75$6.1524.36%$305.00—$8.80$9.1016133
2213$4.70$5.1524.23%$307.50—$10.30$10.701123
252513$3.90$4.2524.27%$310.00—$11.55$12.403,107180
285$3.15$3.4524.15%$312.50—$13.65$14.30611
999$2.53$2.7924.12%$315.00—$15.00$16.2580
1276$1.99$2.2524.08%$317.50—$16.95$18.1011
56363$1.60$1.8124.22%$320.00—$19.30$20.409857
15$1.25$1.6324.80%$322.50—$21.10$22.4010
17104$0.94$1.2024.41%$325.00—$23.40$24.6020
16$0.71$1.0724.90%$327.50—————
521,067$0.60$0.7424.76%$330.00—$27.95$29.407542

Forward $301.92. The 25-delta put carries +0.96 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 29.26%±25.37skew +1.92
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$270.0031.56%$1.10$1.482259
—————$275.0032.03%$1.72$2.381611
09$24.35$25.95—$280.0030.90%$2.58$2.86645
—————$285.0030.67%$3.60$4.0520217
01$16.90$18.35—$290.0030.23%$5.00$5.3512919
—————$295.0030.08%$6.70$7.2018310
22$10.95$12.10—$300.0029.87%$8.85$9.303697
81$8.60$9.1029.08%$305.00—$11.35$12.00734
63$6.50$7.0528.92%$310.00—$14.30$15.052026
11431$4.95$5.4029.09%$315.00—$17.30$18.35298
874$3.45$4.0528.75%$320.00—$20.50$21.95716
10029$2.52$2.9728.85%$325.00—$24.45$26.5050
1646$1.88$2.2829.44%$330.00—$28.60$30.80132
4326$1.35$1.7529.90%$335.00—$33.10$35.3010
24379$1.00$1.2230.08%$340.00—$37.75$40.05721
—————$350.00—$47.35$49.5520

Forward $302.46. The 25-delta put carries +1.92 volatility points over the 25-delta call.

2026-10-30(37 days)ATM 28.88%±27.84skew +0.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$260.0032.78%$0.71$1.16200
—————$265.0031.67%$0.95$1.5230
—————$270.0030.76%$1.43$1.89441
—————$275.0030.13%$2.06$2.504225
—————$280.0030.13%$2.95$3.555528
—————$285.0029.48%$3.85$4.7530230
01$17.80$19.30—$290.0029.33%$5.55$6.0011512
—————$295.0028.89%$6.95$8.004925
02$11.75$13.15—$300.0029.41%$9.50$10.251255
06$9.30$10.7028.79%$305.00—$11.75$12.653026
111$7.20$8.5528.64%$310.00—$14.65$15.60522
116$5.60$6.7528.73%$315.00—$17.35$19.15271
617$4.20$4.7527.89%$320.00—$21.45$22.65373
516$3.15$4.1528.92%$325.00—$24.75$26.6551
125$2.42$2.6928.24%$330.00—$28.90$30.8020
03$1.64$2.1528.39%$335.00—$33.25$35.65100
411$1.16$1.9329.37%$340.00—$37.85$40.4001

Forward $302.79. The 25-delta put carries +0.57 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 27.96%±33.80skew +1.61
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$101.65$104.70—$200.00—————
01$91.75$94.80—$210.00—————
14$81.90$84.95—$220.0036.54%$0.14$0.221023
04$72.25$74.80—$230.00—————
02$62.90$65.40—$240.00—————
02$53.05$55.90—$250.0032.49%$0.85$1.263342
019$44.00$45.85—$260.0030.48%$1.55$1.753572
021$35.60$37.10—$270.0029.71%$2.70$3.1045929
116$27.65$29.00—$280.0029.00%$4.70$5.0089950
035$20.45$21.80—$290.0028.51%$7.60$7.9539464
14956$14.90$15.30—$300.0028.13%$11.65$12.0065736
171176$10.20$10.6027.81%$310.00—$17.00$17.301,28554
15201$6.65$7.0027.51%$320.00—$23.00$24.101,08727
220514$4.20$4.4527.40%$330.00—$30.85$31.954501
168384$2.59$2.8527.62%$340.00—$38.55$40.552021
159292$1.58$1.7527.83%$350.00—$47.65$49.45870
87632$0.93$1.2828.70%$360.00—$57.20$59.00470
23389$0.58$0.7328.88%$370.00—$67.00$68.702430
—————$380.00—$76.40$79.401060
—————$390.00—$86.35$89.4510
—————$400.00—$96.35$99.3540

Forward $303.30. The 25-delta put carries +1.61 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 27.14%±40.08skew +1.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
023$102.55$105.60—$200.00—————
125$92.70$95.80—$210.00—————
31,207$83.10$86.05—$220.00—————
030$73.70$76.30—$230.0032.47%$0.50$0.754590
027$64.50$66.85—$240.0031.91%$0.95$1.304491
094$55.25$57.65—$250.0030.39%$1.57$1.854586
096$46.15$48.85—$260.0029.26%$2.50$2.8445647
0153$37.65$39.25—$270.0028.76%$4.15$4.4588952
165$30.15$32.30—$280.0028.19%$6.40$6.75686241
4349$23.50$25.45—$290.0027.76%$9.55$9.9031237
14697$17.80$18.35—$300.0027.39%$13.65$14.0053342
74170$13.05$13.4527.04%$310.00—$18.90$19.2069023
31322$9.25$9.6526.82%$320.00—$24.40$25.709336
14472$6.35$6.7026.61%$330.00—$30.90$33.158161
26644$4.30$4.6026.62%$340.00—$38.95$41.505170
581,134$2.81$3.4527.11%$350.00—$48.00$50.202055
16885$1.90$2.1827.05%$360.00—$56.95$59.701181
3756$1.18$1.5627.34%$370.00—$66.60$69.30580
2476$0.81$1.0327.66%$380.00—$76.40$78.80130
2278$0.60$0.7028.25%$390.00—$86.35$88.7530
2357$0.38$0.5128.65%$400.00—$96.35$98.7050

Forward $304.29. The 25-delta put carries +1.57 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.