Options Skew Analytics

BMY option chain

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

Data as of 22 September 2026 (end of day)

2026-10-09(17 days)ATM 25.58%±3.42skew +0.82
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$27.10$27.50—$35.00—————
02$5.05$6.35—$57.00—————
—————$59.0026.74%$0.33$0.44341
—————$60.0025.93%$0.54$0.661041
04$1.84$2.45—$61.0025.62%$0.87$0.99313
08$1.26$1.4225.58%$62.00—$1.33$1.44403
1949$0.86$0.9525.40%$63.00—$1.77$2.03693
3132$0.53$0.6225.11%$64.00—$2.26$2.82461
671$0.32$0.3925.14%$65.00—$3.10$3.70253
1739$0.18$0.2825.90%$66.00—$3.90$4.55231
—————$67.00—$4.40$5.9510
—————$68.00—$5.60$6.7030

Forward $61.95. The 25-delta put carries +0.82 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 25.93%±4.13skew +2.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$16.35$18.45—$45.00—————
012$12.00$13.25—$50.00—————
023$9.60$11.00—$52.50—————
0117$6.50$7.95—$55.00—————
—————$56.0028.24%$0.12$0.18010
3118$4.85$5.60—$57.5027.38%$0.25$0.341,7362
—————$58.0027.24%$0.31$0.431012
—————$59.0026.41%$0.49$0.59453
41298$2.64$3.00—$60.0026.17%$0.75$0.861,32453
06$1.77$2.78—$61.0026.01%$1.09$1.238121
1012$1.50$1.90—$62.0026.43%$1.59$1.7021221
1111,581$1.31$1.4124.74%$62.50—$1.75$1.952,478192
1193$1.06$1.1924.31%$63.00—$1.94$2.30316110
1123,478$0.72$0.8324.21%$64.00—$2.62$2.9941
1713,866$0.48$0.5724.34%$65.00—$3.30$3.751,80518
5689$0.31$0.3924.59%$66.00—$3.90$4.5512
287$0.20$0.2825.21%$67.00—————
3444,654$0.16$0.1824.50%$67.50—$5.15$6.052590
483,421$0.07$0.0927.31%$70.00—$7.70$8.50940
—————$72.50—$9.65$11.55250
121,962$0.01$0.0230.89%$75.00—$12.40$13.8030

Forward $62.06. The 25-delta put carries +2.07 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 26.24%±4.74skew +0.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$6.70$9.55—$55.00—————
—————$56.0028.30%$0.19$0.3101
—————$57.0028.23%$0.29$0.48171
—————$58.0028.05%$0.43$0.70872
—————$59.0027.11%$0.63$0.8917261
11$2.90$3.50—$60.0026.23%$0.88$1.1524877
049$2.05$3.15—$61.0026.72%$1.24$1.63391
15$1.71$2.09—$62.0026.24%$1.72$2.02342
105$1.28$1.6426.30%$63.00—$2.18$2.6011101
2537$0.92$1.2726.29%$64.00—$2.60$3.2560
2126$0.64$0.9726.31%$65.00—$3.35$4.30153
378$0.44$0.7326.44%$66.00—$4.20$4.9521
14287$0.32$0.4726.06%$67.00—————

Forward $62.03. The 25-delta put carries +0.68 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 30.79%±6.17skew +1.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$7.05$8.40—$55.0031.99%$0.30$0.4049
—————$56.0032.57%$0.42$0.63190
—————$57.0031.98%$0.57$0.81621
10$4.65$5.60—$58.0031.55%$0.77$1.04920
04$4.00$4.80—$59.0031.72%$1.03$1.3916511
21$3.40$3.90—$60.0031.33%$1.39$1.68776
02$2.67$3.50—$61.0031.41%$1.75$2.16125
—————$62.0030.80%$2.21$2.5610
222$1.83$2.2930.79%$63.00—$2.75$3.1050
27$1.49$1.9031.15%$64.00—$3.00$3.90162
1456$1.16$1.5631.15%$65.00—$3.60$4.5024
533$0.91$1.1130.14%$66.00—————
24238$0.69$0.9230.49%$67.00—————
161$0.48$0.7029.96%$68.00—————
031$0.40$0.6231.31%$69.00—————
5102$0.31$0.5131.85%$70.00—————

Forward $62.13. The 25-delta put carries +1.06 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 32.09%±8.02skew -0.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
07$21.35$23.50—$40.00—————
08$15.80$19.50—$45.00—————
16$12.05$12.85—$50.00—————
02$7.70$8.50—$55.0032.04%$0.63$0.755,01964
337$5.80$6.45—$57.5031.68%$1.19$1.3328821
192$4.20$4.40—$60.0031.68%$2.08$2.2047310
15560$2.90$3.1032.09%$62.50—$3.30$3.453,163128
2322,629$1.97$2.0732.13%$65.00—$4.75$4.9534626
72775$1.22$1.3431.82%$67.50—$6.10$6.80901
44111,107$0.70$0.8531.59%$70.00—$8.05$8.95490
—————$72.50—$10.20$11.05320
—————$75.00—$12.55$13.50170
—————$80.00—$16.95$19.4010
2107$0.05$0.1137.92%$85.00—————

Forward $62.12. The 25-delta put carries -0.14 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 31.31%±9.53skew +0.42
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$28.00$31.05—$33.00—————
04$26.30$28.90—$35.00—————
0177$21.40$23.60—$40.00—————
0182$19.00$22.25—$42.00—————
11,964$17.15$17.85—$45.00—————
02,947$14.85$16.25—$47.00—————
34,193$12.50$13.20—$50.0034.13%$0.32$0.4727,7872
12,338$10.10$10.90—$52.5032.37%$0.59$0.6619,67322
01,875$7.95$9.10—$55.0031.60%$0.99$1.1010,93338
342,832$6.40$6.85—$57.5031.79%$1.67$1.833,14021
107,180$4.85$5.10—$60.0030.92%$2.42$2.7615,98325
142,861$3.60$3.8031.27%$62.50—$3.70$3.9517,786122
7414,149$2.62$2.7631.39%$65.00—$5.25$5.453,87039
244,189$1.86$1.9831.59%$67.50—$6.40$7.501570
1286,252$1.26$1.3531.37%$70.00—$8.45$9.2518715
701,130$0.72$1.0631.53%$72.50—$10.35$11.55180
2443,465$0.61$0.7232.72%$75.00—$12.70$13.80490
4155$0.41$0.6634.43%$77.50—————
—————$80.00—$17.45$18.50360
—————$85.00—$21.45$24.10100
—————$90.00—$26.25$29.55100

Forward $62.37. The 25-delta put carries +0.42 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 32.66%±11.38skew +0.88
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$33.50$36.40—$28.00—————
043$31.45$33.70—$30.00—————
010$28.40$30.75—$33.00—————
020$26.35$29.40—$35.00—————
026$23.60$25.45—$38.00—————
0468$21.35$23.60—$40.00—————
0663$18.55$20.45—$43.00—————
0836$17.35$18.05—$45.00—————
0323$15.05$16.35—$47.00—————
303,928$12.70$12.95—$50.0035.30%$0.61$0.907,5117
0709$10.55$10.95—$52.5033.73%$1.03$1.163,61619
89,756$8.65$9.30—$55.0033.27%$1.60$1.7417,97391
83,473$6.85$7.55—$57.5032.91%$2.37$2.529,52948
1714,833$5.45$5.70—$60.0032.71%$3.35$3.5514,67222
133,889$4.20$4.4032.71%$62.50—$4.60$4.802,60161
168,646$3.15$3.3532.38%$65.00—$5.80$6.451,2451
08,131$2.27$2.6032.33%$67.50—$7.55$8.054070
13911,189$1.72$1.8532.21%$70.00—$9.00$10.001470
145573$1.26$1.3732.38%$72.50—$10.85$12.25170
86,397$0.80$1.1032.45%$75.00—$12.95$14.20610
22,555$0.43$0.6633.64%$80.00—————

Forward $62.09. The 25-delta put carries +0.88 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 33.23%±14.52skew +0.94
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$26.30$28.70—$35.00—————
05$21.45$23.60—$40.00—————
17$17.70$18.60—$45.0036.29%$0.51$0.681,42712
2592$13.30$13.95—$50.0035.69%$1.18$1.557,902102
031$11.40$11.95—$52.5034.18%$1.66$1.932,808113
03,624$9.50$10.65—$55.0034.32%$2.28$2.832,0221
31,815$8.15$8.70—$57.5033.88%$3.15$3.651,5101
29,089$6.55$7.25—$60.0034.00%$4.15$4.853,84317
31,186$5.45$6.25—$62.5034.13%$5.50$6.052,0404
1853,169$4.45$4.8033.01%$65.00—$6.95$7.402,1040
94,939$3.60$4.0033.33%$67.50—$8.45$9.105280
212,236$2.78$3.2032.89%$70.00—$9.95$11.102,0870
121,440$2.18$2.6633.14%$72.50—$11.80$13.00320
191,126$1.72$2.1833.38%$75.00—$13.70$15.00110
3473$1.40$1.7933.82%$77.50—————
2737$1.00$1.4233.39%$80.00—————
7200$0.66$0.7933.29%$85.00—$22.55$23.7510
039$0.32$0.5333.19%$90.00—————

Forward $62.58. The 25-delta put carries +0.94 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.