Options Skew Analytics

CME 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 25.98%±6.33skew +2.97
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$8.30$10.50—$260.00—————
—————$262.5029.34%$0.55$0.90413
03$4.40$6.00—$265.0028.31%$1.00$1.50350163
01$2.80$4.10—$267.5027.21%$1.75$2.353815
1185$1.65$2.1525.30%$270.00—$2.45$3.801996
87252$0.85$1.2525.34%$272.50—$3.80$6.003571
3237$0.45$0.7026.19%$275.00—$5.60$7.60326
—————$277.50—$7.60$10.60110
—————$280.00—$9.90$12.7040
1296$0.05$0.1032.77%$285.00—$14.60$18.2020
—————$290.00—$19.60$23.2010

Forward $268.77. The 25-delta put carries +2.97 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 24.51%±10.91skew +1.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$257.5025.63%$0.70$1.1012106
03$9.60$11.80—$260.0025.45%$1.15$1.5586114
—————$262.5025.03%$1.70$2.151574
33$5.70$7.80—$265.0024.74%$2.45$2.95607
70$4.80$5.80—$267.5024.54%$3.40$4.0052
06$3.50$4.1024.48%$270.00—$4.70$5.201,1162
09$2.45$2.9523.97%$272.50—$5.10$7.203430
074$1.60$2.0523.43%$275.00—$6.80$8.80110
020$1.00$1.4023.16%$277.50—$8.30$11.2060
—————$280.00—$10.30$13.3010
—————$287.50—$17.20$20.5010
—————$290.00—$19.70$22.90470

Forward $268.85. The 25-delta put carries +1.60 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 24.96%±14.49skew +1.97
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$250.0026.73%$0.55$0.90478
—————$255.0025.74%$1.05$1.55280
02$10.50$13.10—$260.0025.48%$2.20$2.55862
—————$265.0025.41%$3.80$4.30512
—————$267.5024.80%$4.70$5.3010
023$5.00$5.6024.99%$270.00—$6.00$6.60830
721$2.95$3.4024.28%$275.00—$8.50$10.00115
723$1.55$1.8523.51%$280.00—$11.20$13.30380
—————$285.00—$15.40$17.8030
—————$290.00—$19.70$22.30440

Forward $269.00. The 25-delta put carries +1.97 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 23.81%±16.44skew +1.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$47.70$51.40—$220.00—————
010$38.30$41.40—$230.00—————
4187$28.50$31.40—$240.00—————
011$19.90$22.20—$250.0026.01%$1.00$1.307379
—————$252.5025.91%$1.25$1.8010
—————$255.0025.33%$1.70$2.1007
—————$257.5024.83%$2.15$2.6050
0176$11.70$13.90—$260.0024.99%$2.90$3.3048214
20$8.70$10.40—$265.0024.31%$4.40$5.0015
10$6.90$8.80—$267.50—————
104212$5.90$6.5023.79%$270.00—$6.60$7.201,16914
20$3.80$4.2023.23%$275.00—$8.60$10.2006
098$3.00$3.4023.26%$277.50—————
26430$2.35$2.6523.16%$280.00—$11.80$13.802290
204$1.70$2.1022.95%$282.50—————
01$1.35$1.6523.21%$285.00—————
330$1.10$1.5024.24%$287.50—————
15873$0.85$1.2524.67%$290.00—$20.00$23.10150
—————$300.00—$29.60$32.8070
141,124$0.15$0.2528.11%$310.00—————

Forward $269.30. The 25-delta put carries +1.68 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 27.50%±21.62skew +2.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$250.0030.20%$1.95$2.95353
01$16.90$19.60—$255.0029.59%$2.90$4.10170
01$12.90$15.30—$260.0027.97%$4.20$5.0033
015$9.70$12.50—$265.0027.57%$5.90$6.9022
078$7.60$9.3027.51%$270.00—$8.20$9.30161
—————$275.00—$9.80$12.0081
03$3.90$5.2027.46%$280.00—————
03$2.65$3.8027.50%$285.00—————
24$1.70$2.7027.41%$290.00—————
—————$295.00—$25.00$27.8020

Forward $269.70. The 25-delta put carries +2.08 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 26.98%±23.51skew +1.90
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$250.0029.63%$2.35$3.5011
—————$255.0028.55%$3.30$4.5020
—————$260.0027.95%$4.70$5.9010
01$11.20$13.20—$265.0027.48%$6.50$7.70221
022$8.60$10.20—$270.0027.02%$8.70$9.9010
20$6.40$7.9026.88%$275.00—$10.70$13.00200
11$4.60$5.9026.57%$280.00—————
14$3.20$4.5026.65%$285.00—————
114$2.10$3.3026.47%$290.00—————
—————$300.00—$29.80$32.8010

Forward $270.10. The 25-delta put carries +1.90 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 26.43%±28.73skew +2.34
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
41$40.50$43.30—$230.0030.17%$1.00$1.55232
—————$240.0028.66%$1.90$2.65533
01$24.00$26.20—$250.0027.89%$4.00$4.3016011
06$16.70$19.10—$260.0027.03%$6.80$7.2014559
726$11.30$11.90—$270.0026.55%$11.00$11.501993
11101$7.00$7.4025.91%$280.00—$16.70$17.30560
26122$4.00$4.4025.55%$290.00—$22.10$24.90660
6199$2.20$2.5525.60%$300.00—————
1253$1.10$1.8026.55%$310.00—————
—————$320.00—$49.60$52.9010

Forward $270.35. The 25-delta put carries +2.34 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 25.88%±34.15skew +2.16
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$122.80$126.90—$145.00—————
03$88.70$92.40—$180.00—————
03$83.70$87.50—$185.00—————
052$73.60$77.70—$195.00—————
07$68.90$72.80—$200.00—————
022$59.90$63.10—$210.00—————
026$50.50$53.70—$220.0030.27%$1.15$1.501,8436
1116$41.80$44.50—$230.0029.65%$2.20$2.552370
0206$33.30$36.00—$240.0028.29%$3.60$3.904380
40338$25.30$27.60—$250.0027.15%$5.60$6.104152
15349$18.90$20.40—$260.0026.40%$8.70$9.301216
1250$13.40$14.00—$270.0026.02%$13.10$13.702651
9254$8.90$9.5025.38%$280.00—$18.60$19.30240
2328$5.70$6.2025.05%$290.00—$23.70$26.60760
21913$3.50$4.0024.99%$300.00—$31.50$34.30210
18220$2.10$2.8525.61%$310.00—————

Forward $270.30. The 25-delta put carries +2.16 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.