Options Skew Analytics

BP option chain

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

Data as of 25 September 2026 (end of day)

2026-10-09(14 days)ATM 30.26%±2.62skew -1.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$7.85$10.20—$35.00—————
014$2.36$2.82—$42.0029.27%$0.20$0.291350
020$1.66$2.62—$42.5028.14%$0.25$0.40351
344$1.52$1.99—$43.0029.70%$0.49$0.53713
411$1.46$1.51—$43.5029.56%$0.66$0.7110220
18106$1.16$1.36—$44.0029.35%$0.87$0.92553
3538$0.91$0.9931.06%$44.50—$1.09$1.3302
52175$0.70$0.9433.34%$45.00—$1.40$1.461391
17$0.52$0.5930.53%$45.50—$1.66$1.9111
475$0.32$0.4529.41%$46.00—$1.83$2.60400
01$0.21$0.3429.24%$46.50—————
3149$0.16$0.2629.99%$47.00—$2.43$3.35650

Forward $44.24. The 25-delta put carries -1.27 volatility points over the 25-delta call.

2026-10-16(21 days)ATM 30.87%±3.28skew +1.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0703$5.05$5.65—$39.00—————
0588$4.15$4.60—$40.0033.41%$0.13$0.191,08027
01$3.75$4.20—$40.5033.12%$0.18$0.25100
0755$3.30$3.70—$41.0032.43%$0.24$0.311,3956
—————$41.5031.76%$0.31$0.395821
01,342$2.59$2.93—$42.0031.80%$0.43$0.501,48028
043$2.36$2.53—$42.5031.55%$0.54$0.656723
32,487$1.97$2.13—$43.0031.42%$0.71$0.801,0213
0906$1.71$1.81—$43.5031.22%$0.89$0.99220
439,227$1.43$1.52—$44.0031.04%$1.11$1.205,34544
31172$1.18$1.2630.86%$44.50—$1.35$1.451093
2523,154$0.96$1.0430.77%$45.00—$1.64$1.738,8786
27298$0.78$0.8630.95%$45.50—$1.91$2.07530
1395,840$0.62$0.6830.69%$46.00—$2.27$2.461,5470
046$0.46$0.5530.38%$46.50—————
112,499$0.37$0.4330.55%$47.00—$3.00$3.302840
292$0.27$0.3330.21%$47.50—————
527,025$0.20$0.2630.28%$48.00—$3.75$4.252900
7122$0.17$0.2030.85%$48.50—————
21,498$0.12$0.1731.21%$49.00—$4.65$5.20400
62,961$0.08$0.1132.41%$50.00—$5.60$6.20290

Forward $44.32. The 25-delta put carries +1.41 volatility points over the 25-delta call.

2026-10-23(28 days)ATM 30.42%±3.74skew +0.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$9.90$13.40—$33.00—————
—————$41.0031.39%$0.34$0.394516
02$2.58$3.10—$42.0030.90%$0.55$0.6194
25120$2.07$2.39—$43.0030.75%$0.87$0.924215
7253$1.64$1.72—$44.0030.57%$1.28$1.3440
237$1.16$1.2430.33%$45.00—$1.81$1.871712
650$0.80$0.8730.35%$46.00—$2.34$2.97230
0278$0.52$0.6030.33%$47.00—$3.05$3.65150
2582$0.33$0.4130.54%$48.00—————

Forward $44.37. The 25-delta put carries +0.57 volatility points over the 25-delta call.

2026-10-30(35 days)ATM 33.83%±4.64skew +0.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$40.0035.97%$0.35$0.551121
06$2.73$3.60—$42.0033.94%$0.74$1.01120
162$2.27$2.68—$43.0034.57%$1.10$1.44164
2034$1.79$2.21—$44.0033.74%$1.36$1.99160
023$1.31$1.7833.88%$45.00—$1.95$2.25608
143$0.95$1.2332.45%$46.00—$2.53$3.1580
249$0.65$0.9332.41%$47.00—————
6964$0.48$0.7233.36%$48.00—————
—————$49.00—$4.60$5.95100

Forward $44.33. The 25-delta put carries +0.58 volatility points over the 25-delta call.

2026-11-20(56 days)ATM 34.37%±5.94skew +1.37
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$26.0060.44%$0.01$0.0650
01$11.10$11.75—$33.00—————
012$10.15$10.70—$34.00—————
05$9.15$9.65—$35.0039.39%$0.14$0.21770
—————$36.0038.17%$0.19$0.28900
0599$7.30$7.80—$37.0037.17%$0.28$0.36612
06$6.45$6.90—$38.0036.30%$0.39$0.486080
055$5.60$6.00—$39.0035.48%$0.55$0.621783
0432$4.80$5.20—$40.0034.95%$0.74$0.841370
078$4.10$4.35—$41.0034.93%$1.04$1.113760
0470$3.45$3.70—$42.0034.70%$1.37$1.451,8939
93695$2.91$3.05—$43.0034.56%$1.78$1.851,19364
239,545$2.39$2.47—$44.0034.54%$2.26$2.33604111
8,0057,649$1.91$2.0034.12%$45.00—$2.78$2.895033
1211,955$1.50$1.5833.62%$46.00—$3.40$3.552463
22480$1.18$1.2533.55%$47.00—$4.05$4.301810
40629$0.91$0.9933.54%$48.00—$4.80$5.10320
2304$0.70$0.7733.55%$49.00—$5.60$5.901131
401,461$0.54$0.5933.62%$50.00—$6.40$6.80500
41219$0.15$0.1935.75%$55.00—————
—————$60.00—$15.65$16.4060

Forward $44.14. The 25-delta put carries +1.37 volatility points over the 25-delta call.

2026-12-18(84 days)ATM 32.50%±6.89skew +1.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
082$14.05$14.70—$30.0043.25%$0.06$0.122,0710
011$12.10$12.70—$32.00—————
01,150$11.15$11.70—$33.0038.76%$0.14$0.211,3610
—————$34.0037.78%$0.19$0.271,3560
02,638$9.25$9.70—$35.0036.66%$0.26$0.332,6270
—————$36.0035.78%$0.35$0.421980
01,873$7.45$7.95—$37.0034.97%$0.46$0.541,0410
01$6.60$7.05—$38.0034.30%$0.61$0.692560
011$5.85$6.20—$39.0033.90%$0.81$0.895560
010,299$5.10$5.40—$40.0033.53%$1.06$1.132,65238
07$4.45$4.65—$41.0033.26%$1.36$1.43201163
02,839$3.80$4.00—$42.0033.08%$1.72$1.7989275
12149$3.30$3.40—$43.0032.96%$2.14$2.211,52998
0244$2.78$2.88—$44.0032.81%$2.60$2.707,84914
4819,478$2.31$2.3932.41%$45.00—$3.10$3.259560
177810$1.91$1.9832.24%$46.00—$3.70$3.85490
1091,847$1.57$1.6432.22%$47.00—$4.35$4.557670
27361$1.28$1.3532.22%$48.00—$5.10$5.35170
0241$1.03$1.1032.16%$49.00—————
423,663$0.84$0.9032.33%$50.00—$6.65$6.951,0750
122,800$0.29$0.3433.60%$55.00—$11.05$11.5520

Forward $44.18. The 25-delta put carries +1.20 volatility points over the 25-delta call.

2027-01-15(112 days)ATM 31.37%±7.70skew +1.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0880$14.10$14.70—$30.00—————
0737$12.15$12.65—$32.0037.75%$0.16$0.242,7830
01$11.20$11.80—$33.0036.80%$0.22$0.29100
02$10.30$10.85—$34.0035.78%$0.28$0.361,0240
173,469$9.40$9.80—$35.0034.91%$0.37$0.445,0631
088$8.50$9.00—$36.0034.06%$0.47$0.557840
13,043$7.65$8.10—$37.0033.45%$0.61$0.692,0254
0808$6.85$7.25—$38.0032.85%$0.78$0.862620
0522$6.10$6.55—$39.0032.49%$1.00$1.084196
026,039$5.40$5.65—$40.0032.19%$1.26$1.352,59937
50940$4.75$5.00—$41.0031.89%$1.57$1.6627036
02,576$4.15$4.35—$42.0031.61%$1.93$2.021,13636
511,003$3.60$3.75—$43.0031.61%$2.37$2.4541435
01,924$3.10$3.25—$44.0031.48%$2.84$2.934930
03,179$2.67$2.7631.37%$45.00—$3.35$3.508020
01,606$2.27$2.3531.31%$46.00—$3.95$4.102030
11,756$1.91$1.9931.23%$47.00—$4.60$4.753900
31,327$1.60$1.6831.20%$48.00—$5.30$5.50200
0276$1.33$1.4131.17%$49.00—$6.05$6.301670
14,320$1.11$1.1731.17%$50.00—$6.75$7.104460
23,571$0.43$0.5132.15%$55.00—$11.10$11.65870

Forward $44.29. The 25-delta put carries +1.02 volatility points over the 25-delta call.

2027-03-19(175 days)ATM 31.14%±9.53skew +1.85
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
053$14.20$14.65—$30.0037.83%$0.26$0.316850
01$12.30$12.75—$32.0036.47%$0.39$0.491480
2865$11.40$11.80—$33.0035.60%$0.48$0.5898954
388$10.50$10.90—$34.0034.91%$0.60$0.69320
094$9.65$10.05—$35.0034.24%$0.73$0.838090
03$8.85$9.25—$36.0033.68%$0.89$1.00670
02,864$8.05$8.40—$37.0033.18%$1.09$1.191,4990
02$7.30$7.75—$38.0032.80%$1.32$1.433031
027$6.60$6.95—$39.0032.44%$1.59$1.70650
0597$5.95$6.25—$40.0032.13%$1.90$2.013880
047$5.35$5.60—$41.0031.80%$2.24$2.36130
0854$4.80$5.00—$42.0031.66%$2.65$2.767540
023$4.25$4.40—$43.0031.29%$3.05$3.20140
08$3.75$3.90—$44.0031.26%$3.55$3.70510
22797$3.30$3.4531.15%$45.00—$4.10$4.253980
0182$2.90$3.0531.11%$46.00—$4.65$4.8020
0758$2.53$2.6430.85%$47.00—$5.30$5.451990
032$2.19$2.3030.69%$48.00—$5.95$6.15190
027$1.90$2.0130.67%$49.00—————
6709$1.64$1.7430.59%$50.00—$7.40$7.65720
0876$0.78$0.8730.92%$55.00—$11.40$11.901950

Forward $44.20. The 25-delta put carries +1.85 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.

BP option chain | Options Skew Analytics