Options Skew Analytics

CAH option chain

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

Data as of 22 September 2026 (end of day)

2026-10-02(10 days)ATM 26.61%±9.84skew +3.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$21.40$24.00—$200.00—————
—————$215.0029.40%$1.15$1.50110
10$5.80$8.50—$217.5028.96%$1.75$2.1016
118$4.70$6.40—$220.0028.03%$2.40$2.90261
—————$222.5027.53%$3.40$3.9011
44$2.75$3.2025.38%$225.00—$4.00$5.30600
01$1.85$2.2525.39%$227.50—$5.80$8.6010
148$1.20$1.6025.76%$230.00—$7.70$10.30220
14$0.75$1.0525.78%$232.50—————
—————$235.00—$12.10$14.7030
—————$245.00—$20.80$24.3090

Forward $223.32. The 25-delta put carries +3.20 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 26.12%±14.93skew +0.32
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$26.60$29.10—$195.00—————
02$21.90$24.90—$200.00—————
—————$202.5029.98%$0.65$1.0007
06$13.00$16.80—$210.0027.60%$1.55$1.85590
—————$215.0026.15%$2.55$2.9014
—————$217.5025.59%$3.20$3.7010
1449$6.60$7.90—$220.0025.15%$4.10$4.6016711
21$4.70$5.4026.42%$225.00—————
364$3.70$4.3026.18%$227.50—————
222363$2.90$3.5026.39%$230.00—$9.50$10.202505
37$1.65$2.0025.83%$235.00—————
243$1.20$1.5525.85%$237.50—————
81,955$0.85$1.1025.50%$240.00—$17.20$20.00500
—————$250.00—$26.80$29.30170
—————$260.00—$35.00$39.1020

Forward $222.91. The 25-delta put carries +0.32 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 32.11%±28.84skew +1.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$195.0036.49%$2.20$3.6010
—————$200.0034.37%$2.95$4.0020
01$17.80$20.30—$210.0032.88%$5.50$6.3020
10$11.90$14.00—$220.0031.63%$8.90$10.2070
10$8.00$9.5032.49%$230.00—————
1295$4.70$5.5031.20%$240.00—————
9649$2.60$3.3031.10%$250.00—————
09$1.40$2.3032.24%$260.00—————
10$0.65$1.0530.99%$270.00—————

Forward $223.42. The 25-delta put carries +1.78 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 29.95%±32.78skew +2.91
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$102.00$105.90—$120.00—————
01$87.30$91.50—$135.00—————
04$82.40$86.30—$140.00—————
01$77.50$81.70—$145.00—————
031$72.50$76.50—$150.00—————
011$67.70$71.00—$155.00—————
074$62.80$66.40—$160.00—————
03$58.10$61.40—$165.00—————
011$53.40$56.60—$170.00—————
09$48.70$52.20—$175.00—————
011$44.20$46.80—$180.0034.89%$1.20$1.95710
044$39.70$42.30—$185.0035.96%$1.90$3.00481
020$35.30$38.00—$190.0033.95%$2.45$3.20465
036$31.10$33.80—$195.0032.79%$3.30$3.70210
0140$27.10$29.90—$200.0032.05%$4.20$4.70356
0165$19.90$22.50—$210.0030.92%$6.80$7.40740
1149$13.50$16.10—$220.0029.48%$10.20$11.10830
5182$9.90$11.1030.11%$230.00—$15.30$16.202211
5665$6.30$7.3029.47%$240.00—$21.50$23.90420
1125$3.80$4.7029.14%$250.00—$29.10$31.70190
0247$2.25$3.2029.55%$260.00—$37.50$40.2030

Forward $224.19. The 25-delta put carries +2.91 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 29.05%±36.65skew +3.38
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
07$82.80$87.00—$140.00—————
0321$78.00$81.80—$145.00—————
0166$73.10$76.00—$150.00—————
0884$68.30$70.80—$155.00—————
2489$63.60$66.40—$160.00—————
0223$58.80$61.40—$165.00—————
042$54.20$57.50—$170.00—————
0348$49.60$52.80—$175.00—————
090$45.10$47.90—$180.00—————
0109$40.70$43.80—$185.0034.02%$2.35$3.80480
0175$36.50$39.70—$190.0032.72%$3.10$4.20710
0166$32.40$35.40—$195.0031.93%$4.00$5.001,2120
0227$28.40$31.50—$200.0031.26%$5.00$6.105880
0882$21.30$24.20—$210.0030.42%$8.00$8.902,3890
0110$15.70$18.00—$220.0029.29%$11.60$12.705651
1484$11.40$12.8028.97%$230.00—$16.70$17.60420
2304$7.50$8.8028.16%$240.00—$22.00$25.00350
57268$4.80$6.0027.88%$250.00—$29.50$32.6080
0217$3.00$3.9027.63%$260.00—$38.00$40.80130
—————$270.00—$46.50$49.8020
—————$280.00—$56.30$59.30290

Forward $224.76. The 25-delta put carries +3.38 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 30.19%±47.71skew +2.17
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
016$74.70$77.40—$150.00—————
02$70.10$72.80—$155.00—————
08$65.70$69.00—$160.00—————
09$61.20$64.40—$165.00—————
018$56.70$59.60—$170.00—————
05$52.50$56.20—$175.0034.84%$2.85$4.20120
06$48.40$51.50—$180.00—————
01$44.30$47.60—$185.0032.77%$4.20$5.3020
011$40.40$43.30—$190.0032.23%$5.10$6.30110
093$36.50$39.30—$195.0032.05%$6.40$7.50210
068$33.00$36.00—$200.0031.21%$7.40$8.70223
0318$28.10$29.10—$210.0030.89%$10.80$12.10461
015$20.30$23.10—$220.0030.41%$14.90$16.20161
025$16.10$18.0030.24%$230.00—$20.20$21.1022217
36111$12.00$13.7029.59%$240.00—$25.30$27.0070
085$8.70$10.1028.93%$250.00—$31.90$34.80330
448$6.60$7.5029.03%$260.00—$40.20$42.6010
1106$4.70$5.5028.84%$270.00—$48.10$50.9010
047$3.20$4.8029.60%$280.00—$56.70$59.8010
—————$290.00—$66.40$69.3010
08$1.40$2.2028.53%$300.00—————

Forward $226.33. The 25-delta put carries +2.17 volatility points over the 25-delta call.

2027-06-17(268 days)ATM 30.95%±60.50skew +3.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$109.30$113.40—$115.00—————
01$100.00$103.40—$125.00—————
03$81.80$85.20—$145.00—————
03$77.40$80.80—$150.00—————
04$73.10$76.60—$155.00—————
02$64.60$68.10—$165.00—————
03$52.60$55.90—$180.0034.87%$5.60$8.60110
01$48.70$52.50—$185.00—————
—————$190.0033.68%$7.80$10.7030
02$41.50$44.20—$195.0032.77%$9.10$11.5010
918$38.10$41.00—$200.0032.42%$10.90$12.7001
02$31.60$34.50—$210.0032.05%$13.90$17.00520
01$25.90$29.00—$220.0031.44%$18.10$21.00190
15$21.30$24.0031.15%$230.00—$23.00$26.003400
09$17.00$20.0030.83%$240.00—$28.40$31.501980
0327$13.30$16.5030.47%$250.00—————
049$10.30$13.2029.97%$260.00—$41.40$45.0060
016$7.90$10.7029.75%$270.00—$49.00$52.8010
06$6.00$8.5029.48%$280.00—————

Forward $228.09. The 25-delta put carries +3.29 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.