Options Skew Analytics

CDE option chain

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

Data as of 9 November 2026 (end of day)

2026-11-20(11 days)ATM 63.36%±1.83skew +0.74
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$5.90$6.40—$10.50—————
22$5.40$5.90—$11.00—————
2—$4.90$5.40—$11.50—————
018$4.40$4.90—$12.00—————
236995$4.00$4.40—$12.50—————
54313$3.50$3.90—$13.00—————
2—$3.00$3.50—$13.50—————
342638$2.55$2.85—$14.0072.32%$0.05$0.103,32336
392,965$2.15$2.40—$14.5070.39%$0.10$0.1583816
1,39913,607$1.75$1.85—$15.0065.03%$0.15$0.209,619164
58531$1.35$1.50—$15.5065.59%$0.25$0.35439
4792,068$1.00$1.15—$16.0063.80%$0.40$0.5012330
4711,293$0.75$0.85—$16.5064.26%$0.60$0.75512,057
4641,261$0.50$0.6062.10%$17.00—$0.90$1.005430
5657,676$0.35$0.4061.91%$17.50—$1.20$1.352,46665
247411$0.25$0.3064.85%$18.00—$1.60$1.7510412
21136$0.15$0.2064.11%$18.50—$1.85$2.3050
—————$19.00—$2.15$2.7510
—————$20.00—$3.30$3.802,24679
—————$22.00—$5.10$5.7001
—————$22.50—$5.60$6.5040

Forward $16.63. The 25-delta put carries +0.74 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 58.82%±2.17skew +3.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
20$5.90$6.40—$10.50—————
0—$5.40$5.90—$11.00—————
48$4.50$4.90—$12.00—————
68$4.00$4.50—$12.50—————
22520$3.50$4.00—$13.0075.27%$0.05$0.1031324
054$3.00$3.50—$13.5066.01%$0.05$0.1014736
371$2.60$3.00—$14.00—————
5875$2.05$2.55—$14.5064.82%$0.15$0.25823
17115$1.80$2.05—$15.0061.47%$0.25$0.305281
10401$1.45$1.60—$15.5060.16%$0.35$0.45329
638631$1.15$1.30—$16.0059.69%$0.50$0.6515894
749286$0.85$1.05—$16.5059.61%$0.75$0.85522
1822,514$0.65$0.7558.07%$17.00—$1.00$1.15681
109281$0.45$0.5556.89%$17.50—$1.35$1.45271
48488$0.35$0.4058.25%$18.00—$1.70$1.9091
8959$0.20$0.3056.87%$18.50—$2.10$2.25120
11615$0.15$0.2057.31%$19.00—$2.35$2.80150
—————$19.50—$2.70$3.3070
—————$20.00—$3.20$3.80360
—————$21.50—$4.60$5.4010
—————$23.00—$6.10$7.0010

Forward $16.65. The 25-delta put carries +3.29 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 58.68%±2.55skew +1.82
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
075$6.10$7.00—$10.00—————
06$3.70$4.50—$12.50—————
0105$3.30$4.00—$13.00—————
04$2.95$3.60—$13.50—————
324$2.55$3.10—$14.0063.84%$0.15$0.2516734
09$2.15$2.65—$14.5061.62%$0.25$0.303631
528$1.75$2.25—$15.0061.48%$0.35$0.45952
27287$1.60$1.75—$15.5060.71%$0.50$0.60266
584876$1.30$1.45—$16.0059.31%$0.65$0.80681
72133$1.00$1.15—$16.5058.70%$0.90$1.005889
64394$0.80$0.9058.67%$17.00—$1.15$1.302412
65195$0.60$0.7057.92%$17.50—$1.45$1.65151
37124$0.45$0.5558.09%$18.00—$1.80$2.00147
10710$0.35$0.4559.66%$18.50—$2.20$2.3510
712$0.25$0.3559.58%$19.00—$2.45$2.9580
1392$0.20$0.2559.77%$19.50—————
103$0.15$0.2563.30%$20.00—————
—————$21.00—$4.10$4.8030
—————$22.00—$5.20$5.9030
—————$23.00—$6.20$7.0010

Forward $16.63. The 25-delta put carries +1.82 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 58.37%±2.88skew +0.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$3.80$4.60—$12.50—————
01$3.00$3.60—$13.50—————
683$2.75$3.20—$14.00—————
025$2.25$2.70—$14.5062.74%$0.30$0.45161
81,031$2.00$2.15—$15.0061.65%$0.40$0.602915
189$1.70$1.90—$15.5060.38%$0.55$0.75915
054$1.40$1.60—$16.0060.18%$0.75$0.95216
1061$1.15$1.35—$16.5059.51%$1.00$1.151811
5673$0.95$1.0558.32%$17.00—$1.25$1.45181
42936$0.75$0.9560.59%$17.50—$1.55$1.7543
13353$0.60$0.7560.05%$18.00—$1.90$2.108910
32106$0.45$0.6560.76%$18.50—$2.30$2.5521
388$0.35$0.5561.65%$19.00—$2.50$2.9510
30103$0.25$0.4059.56%$19.50—$2.90$3.5010
731$0.20$0.3059.45%$20.00—————
50$0.05$0.1065.26%$23.00—————

Forward $16.68. The 25-delta put carries +0.00 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 60.45%±3.54skew +1.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$4.30$5.10—$12.00—————
11$3.10$3.70—$13.50—————
200$2.75$3.30—$14.0061.04%$0.30$0.45015
15$2.35$2.90—$14.5060.69%$0.40$0.6002
06$2.20$2.45—$15.00—————
11$1.90$2.20—$15.5060.98%$0.75$0.9510
12$1.65$1.85—$16.0060.27%$0.95$1.153129
125$1.35$1.60—$16.5059.44%$1.15$1.4014
603$1.15$1.4060.53%$17.00—$1.45$1.65610
17888$0.95$1.1559.36%$17.50—$1.75$1.9510
153$0.80$0.9559.24%$18.00—$2.10$2.40100
20$0.65$0.8560.31%$18.50—$2.45$2.6510
1880$0.50$0.7059.24%$19.00—————
20$0.40$0.6059.63%$19.50—————
260$0.35$0.5060.53%$20.00—————
—————$22.00—$5.30$5.70011

Forward $16.70. The 25-delta put carries +1.07 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 59.11%±4.23skew +1.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0467$13.90$14.40—$2.50—————
52,265$11.50$11.80—$5.00—————
42,882$9.00$9.30—$7.50—————
493,541$6.50$7.00—$10.0071.46%$0.05$0.101,7310
1044,431$4.30$4.50—$12.5062.92%$0.25$0.305,69918
9639,105$2.55$2.70—$15.0061.15%$0.90$0.959,511314
1,3648,913$1.30$1.4059.08%$17.50—$2.05$2.205,40554
24219,134$0.60$0.7059.30%$20.00—$3.70$4.205,00693
5111,286$0.25$0.3559.86%$22.50—$5.80$6.501,3255
—————$25.00—$8.20$8.902805

Forward $16.72. The 25-delta put carries +1.84 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 61.49%±6.18skew +3.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$13.60$14.50—$2.50—————
056$11.10$12.10—$5.00—————
079$8.60$9.60—$7.50—————
3105$6.60$7.20—$10.0064.75%$0.15$0.25115200
2497$4.60$5.10—$12.5065.12%$0.65$0.7540124
19826$3.20$3.40—$15.0064.69%$1.50$1.701,179821
93848$2.00$2.3061.46%$17.50—$2.65$2.955693
1961,750$1.30$1.4561.72%$20.00—$4.30$4.801594
5842$0.75$0.9561.39%$22.50—$6.30$6.801672
422,800$0.50$0.6563.26%$25.00—$8.50$9.101090
284,673$0.20$0.3064.71%$30.00—————

Forward $16.84. The 25-delta put carries +3.30 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 62.39%±8.25skew -0.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
059$11.20$12.10—$5.00—————
0149$8.80$9.70—$7.50—————
3113$6.90$7.50—$10.0064.05%$0.40$0.502381
1333$5.20$5.70—$12.5063.19%$1.00$1.205797
17476$3.80$4.30—$15.0062.49%$1.95$2.253780
18748$2.90$3.2063.36%$17.50—$3.30$3.7027012
62722$2.00$2.3562.01%$20.00—$4.90$5.2056529
46333$1.45$1.7061.85%$22.50—$6.70$7.301,6782
453,670$1.10$1.3063.10%$25.00—$8.80$9.502010
532,037$0.55$0.7563.07%$30.00—$13.30$14.0040
202346$0.35$0.4564.76%$35.00—————

Forward $17.04. The 25-delta put carries -0.60 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.