Options Skew Analytics

BABA option chain

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

Data as of 22 September 2026 (end of day)

2026-09-25(3 days)ATM 56.07%±5.94skew -3.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
55207$9.65$10.20—$107.0056.71%$0.09$0.121,021131
115455$8.70$9.15—$108.0055.77%$0.14$0.161,494181
104571$7.55$8.15—$109.0055.34%$0.19$0.253,308668
9564,449$6.70$7.50—$110.0054.86%$0.30$0.335,0282,282
742,054$5.90$6.35—$111.0054.69%$0.43$0.47684427
2941,354$5.20$5.55—$112.0055.13%$0.61$0.681,725480
1283,745$4.45$4.75—$113.0054.96%$0.84$0.91777491
4302,420$3.80$4.00—$114.0054.62%$1.13$1.189381,142
1,5898,523$3.10$3.40—$115.0054.88%$1.50$1.543,1713,310
2,1675,002$2.68$2.80—$116.0055.30%$1.93$1.993571,842
1,9602,812$2.23$2.2956.10%$117.00—$2.42$2.55217808
1,8571,687$1.78$1.8856.38%$118.00—$2.99$3.252,651629
1,6981,157$1.43$1.5056.69%$119.00—$3.60$3.85881,018
15,1949,469$1.14$1.2057.30%$120.00—$4.30$4.65679277
2,4981,481$0.90$0.9758.16%$121.00—$5.05$5.304186
1,6491,191$0.72$0.7658.92%$122.00—$5.85$6.2034950
9721,802$0.54$0.6259.59%$123.00—$6.70$7.10830
1,3451,043$0.43$0.4960.60%$124.00—$7.45$8.151093
6,4835,192$0.35$0.3961.89%$125.00—$8.40$8.9513731
1,278757$0.27$0.3263.01%$126.00—$9.05$10.008415
1721,628$0.22$0.2564.10%$127.00—$9.90$11.85790

Forward $116.77. The 25-delta put carries -3.20 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 45.08%±8.72skew -5.16
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
218$9.90$10.80—$107.0044.07%$0.41$0.4939346
8118$8.95$9.90—$108.0044.21%$0.55$0.63197343
182143$8.20$9.05—$109.0044.11%$0.70$0.80187380
168945$7.75$8.00—$110.0043.70%$0.90$0.951,098965
2357$6.45$7.35—$111.0044.21%$1.12$1.25220288
116412$5.95$6.65—$112.0043.30%$1.33$1.47155587
396751$5.35$5.80—$113.0043.88%$1.63$1.87280561
143679$4.75$5.15—$114.0044.61%$2.07$2.2580645
7321,473$4.25$4.55—$115.0044.13%$2.46$2.60264411
269523$3.65$4.00—$116.0044.64%$2.89$3.15174141
7101,150$3.30$3.5045.06%$117.00—$3.30$3.80141323
515435$2.85$3.0545.13%$118.00—$4.00$4.4560495
247173$2.49$2.7045.86%$119.00—$4.60$5.00104465
1,8904,471$2.28$2.3346.94%$120.00—$5.25$5.6559383
3162,805$1.88$2.0346.68%$121.00—$5.95$6.40242
332137$1.68$1.7847.69%$122.00—$6.60$7.25164
547356$1.39$1.5047.32%$123.00—$7.35$8.20203
1,434529$1.24$1.3348.45%$124.00—$8.20$9.05169
1,6332,594$1.10$1.1449.13%$125.00—$8.80$10.00464
149112$0.96$1.0049.87%$126.00—$9.65$10.353116
1771,552$0.77$0.8950.04%$127.00—$10.55$11.6541

Forward $116.85. The 25-delta put carries -5.16 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 44.18%±11.15skew -4.76
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
433$10.45$11.30—$107.0042.73%$0.88$0.975612
449$9.65$10.65—$108.0042.52%$1.05$1.168436
263$9.00$9.85—$109.0042.91%$1.27$1.4415620
74244$8.15$8.80—$110.0042.67%$1.53$1.6549971
320$7.45$8.05—$111.0042.48%$1.77$1.956232
28146$6.80$7.35—$112.0043.01%$2.14$2.313111
14125$6.20$6.70—$113.0043.16%$2.47$2.723116
2332$5.65$6.10—$114.0043.55%$2.90$3.1510818
231497$5.10$5.55—$115.0042.73%$3.15$3.6016724
1061,014$4.65$5.00—$116.0043.83%$3.80$4.105948
119127$4.20$4.5544.04%$117.00—$4.30$4.65143
65259$3.75$4.1544.38%$118.00—$4.80$5.20532
8591$3.40$3.7044.62%$119.00—$5.30$5.8596
2,3294,164$3.10$3.3545.29%$120.00—$6.05$6.50348
37186$2.78$3.0045.54%$121.00—$6.70$7.15161
2855$2.49$2.7746.27%$122.00—$7.45$8.0530
23147$2.22$2.4546.35%$123.00—$8.15$8.8540
1992$1.99$2.1546.45%$124.00—$8.70$9.7030
2963,252$1.77$1.9246.73%$125.00—$9.50$10.301076
5070$1.63$1.7247.43%$126.00—$10.35$11.30120
359$1.42$1.5547.63%$127.00—$11.10$11.9510

Forward $116.90. The 25-delta put carries -4.76 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 43.00%±12.90skew -4.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$11.00$11.80—$107.0041.94%$1.31$1.4116824
20$10.30$11.00—$108.0041.64%$1.49$1.647166
10$9.45$10.10—$109.0041.53%$1.72$1.9066100
4844,995$8.95$9.35—$110.0041.90%$2.07$2.198,029574
10$8.00$8.70—$111.0042.00%$2.38$2.53473
—————$112.0041.90%$2.68$2.903047
441$6.95$7.55—$113.0042.21%$3.05$3.355123
38$6.40$6.85—$114.0042.35%$3.45$3.801992
3,6089,577$6.10$6.25—$115.0042.43%$3.90$4.254,924692
9647$5.60$5.75—$116.0043.09%$4.50$4.751221
8610$5.10$5.25—$117.0043.26%$5.00$5.300230
12333$4.50$4.8542.94%$118.00—$5.45$5.80131
3122$4.10$4.4543.21%$119.00—$6.05$6.50119
5,67122,679$3.90$4.0544.08%$120.00—$6.75$7.108,40577
323$3.35$3.7043.44%$121.00—————
4324$3.15$3.4044.29%$122.00—————
1035$2.90$3.1044.71%$123.00—$8.75$9.2020
154136$2.63$2.7844.74%$124.00—————
3,96518,014$2.44$2.5445.31%$125.00—$10.25$10.701,629108
913$2.17$2.3145.35%$126.00—————
24563$1.96$2.1145.64%$127.00—————

Forward $117.03. The 25-delta put carries -4.11 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 41.78%±14.25skew -2.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
027$11.45$12.15—$107.0041.69%$1.68$1.94134
012$10.75$11.40—$108.0041.74%$1.96$2.195823
217$10.05$10.65—$109.0041.50%$2.23$2.44102
3647$9.40$10.10—$110.0041.67%$2.53$2.8035727
037$8.75$9.40—$111.0041.47%$2.86$3.1081
520$8.10$8.75—$112.0041.11%$3.15$3.45696
366$7.50$8.05—$113.0041.17%$3.55$3.85866
6297$6.95$7.45—$114.0041.20%$3.95$4.30592
5383$6.40$7.00—$115.0041.21%$4.40$4.7518314
1641$6.05$6.40—$116.0041.37%$4.90$5.2547
4611$5.50$5.95—$117.0042.06%$5.35$6.0041
2610$5.00$5.4541.78%$118.00—$6.05$6.40160
2713$4.65$5.0542.21%$119.00—$6.60$7.0552
126385$4.45$4.7543.39%$120.00—$7.20$7.6022104
1985$3.90$4.3042.51%$121.00—$7.80$8.2521
2841$3.60$3.9542.76%$122.00—$8.50$9.0020
1072$3.25$3.6542.82%$123.00—$9.15$9.6541
549$3.05$3.3543.30%$124.00—$9.70$10.4050
135215$2.84$3.0543.59%$125.00—$10.45$11.10130
4772$2.62$2.8444.04%$126.00—————
5155$2.40$2.5944.18%$127.00—————

Forward $117.05. The 25-delta put carries -2.68 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 41.53%±15.70skew -2.88
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
21$13.25$14.30—$105.0040.70%$1.59$1.7015742
—————$106.0040.74%$1.80$1.96142
33$11.80$12.60—$107.0040.65%$2.06$2.19521
75213$11.20$12.00—$108.0040.55%$2.30$2.48616
15$10.50$11.30—$109.0040.83%$2.60$2.85391
375$9.85$10.45—$110.0040.12%$2.77$3.1522920
613$9.25$9.95—$111.0040.43%$3.20$3.504420
216$8.45$9.35—$112.0040.60%$3.60$3.9019917
133$8.05$8.70—$113.0040.58%$4.00$4.30353
537$7.50$8.00—$114.0040.90%$4.45$4.801585
173227$7.00$7.60—$115.0041.20%$5.00$5.255063
2824$6.40$7.00—$116.0041.15%$5.40$5.80316
6441$6.05$6.50—$117.0041.43%$5.95$6.35214
3032$5.60$6.0541.51%$118.00—$6.50$6.90913
199$5.20$5.6541.75%$119.00—$7.10$7.4502
6,021187$5.00$5.2542.51%$120.00—$7.70$8.10441
539$4.45$4.8541.93%$121.00—$8.35$8.8021
2810$4.15$4.6542.73%$122.00—$9.00$9.50200
23$3.75$4.2042.17%$123.00—$9.40$10.1030
113$3.50$3.9042.51%$124.00—$10.35$10.8020
96119$3.40$3.6543.43%$125.00—$11.10$11.65250

Forward $117.13. The 25-delta put carries -2.88 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 44.49%±21.02skew -2.93
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
098$46.35$48.40—$70.00—————
026$41.40$43.40—$75.00—————
1147$36.30$37.95—$80.0048.69%$0.14$0.2138313
030$31.60$33.05—$85.0046.16%$0.28$0.3297753
4173$27.40$28.60—$90.0044.88%$0.54$0.594,537111
12183$23.10$23.60—$95.0044.46%$1.00$1.141,87075
1041,532$18.90$19.70—$100.0043.57%$1.77$1.866,958382
121,499$15.05$15.80—$105.0043.51%$2.94$3.105,878767
1223,286$11.90$12.40—$110.0043.41%$4.55$4.806,166320
4112,884$9.45$9.55—$115.0044.03%$6.80$7.103,100427
5838,135$7.15$7.3544.54%$120.00—$9.55$9.852,395287
2,7317,836$5.35$5.6045.02%$125.00—$12.80$13.201,69398
2,01122,070$4.05$4.2545.85%$130.00—$16.40$16.901,19422
6214,011$3.00$3.2046.44%$135.00—$20.25$20.954952
1,13612,389$2.30$2.4247.45%$140.00—$24.55$25.155120
9342,198$1.76$1.8548.46%$145.00—$28.90$30.202431
2,7968,761$1.35$1.4349.47%$150.00—$33.65$34.4511712
1,4512,430$1.05$1.1150.51%$155.00—$38.30$39.651783
1,79860,390$0.81$0.8751.46%$160.00—$43.15$44.60271
773,055$0.61$0.6752.09%$165.00—————
141,057$0.48$0.5553.22%$170.00—$52.40$54.3010

Forward $117.53. The 25-delta put carries -2.93 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 45.12%±25.98skew -2.38
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
558$46.70$48.75—$70.0049.29%$0.09$0.1443125
057$41.80$43.90—$75.00—————
0139$37.25$39.10—$80.0046.44%$0.36$0.411,08719
0205$32.20$33.80—$85.0045.88%$0.65$0.762,60244
13607$28.40$29.35—$90.0044.90%$1.12$1.2112,03968
3860$24.20$25.15—$95.0044.51%$1.79$2.025,66856
3029,858$20.35$21.00—$100.0044.30%$2.89$3.0533,917129
123,754$16.65$17.50—$105.0044.15%$4.30$4.508,963135
3,2989,248$13.80$14.35—$110.0044.51%$6.20$6.4515,921134
3252,628$11.20$11.70—$115.0044.69%$8.50$8.755,870148
51711,888$9.25$9.4545.11%$120.00—$11.20$11.5511,22899
3463,557$7.30$7.5545.12%$125.00—$14.35$14.752,97143
17714,512$5.80$6.0045.44%$130.00—$17.75$18.258,3225
4,8756,668$4.65$4.8046.07%$135.00—$21.60$22.203,4820
47512,979$3.65$3.8546.53%$140.00—$25.65$26.154,4306
1659,886$2.92$3.0547.06%$145.00—$29.70$30.505031
2,74611,074$2.32$2.4547.64%$150.00—$34.30$34.951,4390
4,24012,099$1.88$1.9848.38%$155.00—$38.70$39.501950
397,905$1.53$1.6149.12%$160.00—$43.25$44.201,0690
262,325$1.22$1.3149.67%$165.00—$47.75$49.603570
188,324$1.00$1.0750.35%$170.00—$52.55$54.501260

Forward $117.96. The 25-delta put carries -2.38 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.