Options Skew Analytics

COP option chain

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

Data as of 23 September 2026 (end of day)

2026-09-25(2 days)ATM 36.31%±3.45skew -1.63
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$10.90$11.45—$117.00—————
0216$9.90$10.45—$118.00—————
410$8.95$9.50—$119.00—————
016$7.95$8.45—$120.0042.40%$0.01$0.048130
1027$6.95$7.50—$121.00—————
319$6.00$6.55—$122.00—————
128$5.05$5.55—$123.00—————
18$4.15$4.60—$124.00—————
2034$3.25$3.75—$125.0035.70%$0.26$0.3548885
15176$2.70$2.93—$126.0035.66%$0.43$0.61108216
17106$1.97$2.19—$127.0035.71%$0.74$0.93168155
140536$1.36$1.58—$128.0036.37%$1.20$1.371,273776
100158$0.87$1.1235.92%$129.00—$1.64$1.94890
96320$0.58$0.8237.46%$130.00—$2.25$2.653171
22107$0.37$0.5137.30%$131.00—$2.85$3.50761
42504$0.22$0.3137.28%$132.00—$3.85$4.3028389
—————$133.00—$4.75$5.202461
2277$0.06$0.1137.51%$134.00—$5.65$6.2012018
—————$135.00—$6.65$7.202486
—————$136.00—$7.55$8.2070
—————$137.00—$8.60$9.1570

Forward $128.19. The 25-delta put carries -1.63 volatility points over the 25-delta call.

2026-10-02(9 days)ATM 30.63%±6.18skew +0.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$10.20$10.80—$118.00—————
01$9.25$9.80—$119.00—————
026$8.30$8.85—$120.00—————
095$7.45$7.95—$121.0032.90%$0.34$0.45171
09$6.55$7.10—$122.0032.44%$0.42$0.622675
1012$5.75$6.25—$123.0031.56%$0.59$0.72192
525$5.00$5.50—$124.0031.45%$0.81$0.93151101
215$4.35$4.75—$125.0031.65%$1.10$1.216621
10628$3.60$4.05—$126.0031.46%$1.41$1.53316
1531$3.15$3.35—$127.0031.42%$1.68$2.038413
9129$2.60$2.86—$128.0031.17%$2.12$2.455137
119170$2.09$2.2730.38%$129.00—$2.70$2.893061
545$1.67$2.0231.49%$130.00—$3.25$3.506644
750$1.31$1.5030.48%$131.00—$3.90$4.354352
8530$1.03$1.1930.60%$132.00—$4.55$5.101095
930$0.75$1.0531.25%$133.00—$5.30$5.9071
33352$0.65$0.8532.28%$134.00—$6.10$6.753019
7730$0.41$0.6531.39%$135.00—$6.95$7.601100
—————$136.00—$7.85$8.50220
—————$137.00—$8.75$9.15320
—————$138.00—$9.70$10.351018

Forward $128.45. The 25-delta put carries +0.20 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 31.39%±8.44skew -0.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$10.55$11.30—$118.00—————
11$8.75$9.40—$120.0031.68%$0.52$0.802411
033$8.00$8.55—$121.0030.77%$0.65$0.90230
07$7.10$7.75—$122.0031.03%$0.90$1.10101
04$6.35$6.95—$123.0030.98%$1.14$1.3491
—————$124.0030.81%$1.30$1.722220
02$4.95$5.50—$125.0030.73%$1.70$1.9621710
74$4.40$4.90—$126.0030.45%$2.06$2.299922
06$4.00$4.30—$127.0030.60%$2.47$2.75120
454$3.30$3.75—$128.0031.12%$2.87$3.40562
3322$2.86$3.3031.46%$129.00—$3.40$3.75180
2927$2.54$2.7631.50%$130.00—$3.95$4.452570
21151$2.14$2.4431.78%$131.00—$4.60$5.1540
42$1.79$2.1131.85%$132.00—$5.05$5.801011
198$1.51$1.7031.44%$133.00—$5.90$6.5020
45$1.23$1.4231.27%$134.00—$6.65$7.20101
128$0.93$1.2130.95%$135.00—$7.40$8.10660
113$0.74$1.0731.33%$136.00—$8.20$8.90181
022$0.58$0.9231.51%$137.00—$9.05$9.70160
—————$138.00—$9.90$10.651101
—————$139.00—$10.80$11.5510

Forward $128.39. The 25-delta put carries -0.30 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 30.29%±9.78skew +1.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$10.05$10.65—$119.0031.54%$0.75$0.94260
303,855$9.25$9.85—$120.0031.39%$0.95$1.092,68861
02$8.45$9.05—$121.0030.95%$1.08$1.31110
—————$122.0031.21%$1.40$1.531513
07$7.00$7.55—$123.0030.70%$1.59$1.791154
—————$124.0031.29%$1.88$2.261609
202,057$5.65$6.15—$125.0030.88%$2.29$2.462,30390
88$5.10$5.40—$126.0031.21%$2.65$2.961438
15684$4.55$4.85—$127.0030.92%$3.10$3.303448
33562$4.10$4.30—$128.0030.37%$3.50$3.707317
2056$3.60$3.8030.29%$129.00—$4.00$4.209036
1301,505$3.15$3.4030.47%$130.00—$4.60$4.7091522
28273$2.77$2.9230.29%$131.00—$5.10$5.6006
407$2.41$2.5530.33%$132.00—$5.80$6.0021484
145$2.07$2.2630.48%$133.00—$6.35$6.9050
6143$1.74$1.9730.37%$134.00—————
2542,478$1.46$1.6930.23%$135.00—$7.80$8.5082613
5102$1.24$1.4130.07%$136.00—————
2116$1.06$1.2530.42%$137.00—————
19$0.91$1.0430.42%$138.00—$10.20$10.9550
161$0.77$0.9030.63%$139.00—$11.05$11.6533

Forward $128.60. The 25-delta put carries +1.15 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 31.02%±11.44skew +0.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$119.0031.44%$0.95$1.4162
03$9.60$10.40—$120.0031.79%$1.36$1.51271
04$8.95$9.65—$121.0031.00%$1.39$1.8021
—————$122.0031.40%$1.81$2.0222853
03$7.55$8.20—$123.0031.23%$2.07$2.33135
02$6.85$7.50—$124.0031.44%$2.23$2.9070
019$6.15$6.85—$125.0031.50%$2.59$3.30479
131$5.55$6.25—$126.0030.53%$2.98$3.4510
10$5.00$5.70—$127.0031.03%$3.60$3.85104
13$4.45$5.15—$128.0031.04%$4.05$4.35194
100$4.25$4.5530.97%$129.00—$4.55$4.8596
015$3.80$4.2031.34%$130.00—$4.90$5.65469
20$3.35$3.7531.13%$131.00—$5.45$6.1530
39$2.97$3.4531.45%$132.00—$6.05$6.80360
57$2.39$3.0030.30%$133.00—$6.75$7.4543
013$2.23$2.6830.90%$134.00—$7.35$8.20600
4669$2.05$2.2830.92%$135.00—$8.20$8.95700
100$1.64$2.0230.36%$136.00—$8.80$9.7510
05$1.44$1.9031.00%$137.00—$9.60$10.551000
024$1.24$1.7031.13%$138.00—$10.40$11.35253
01$1.03$1.5131.05%$139.00—————

Forward $128.70. The 25-delta put carries +0.41 volatility points over the 25-delta call.

2026-10-30(37 days)ATM 30.88%±12.66skew +0.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$10.05$10.95—$120.0031.91%$1.57$2.041032
—————$121.0031.48%$1.74$2.3032
03$8.60$9.50—$122.0031.36%$2.02$2.58170
01$8.10$8.80—$123.0031.33%$2.36$2.88822
11$7.30$8.00—$124.0031.21%$2.66$3.2550
01$6.80$7.50—$125.0030.96%$3.00$3.60379
—————$126.0031.03%$3.45$4.0030
10$5.55$6.35—$127.0030.90%$3.85$4.45130
—————$128.0031.51%$4.35$5.1010
01$4.55$5.3530.95%$129.00—————
—————$130.00—$5.35$6.15541
—————$131.00—$5.95$6.6530
020$3.25$4.0030.67%$132.00—$6.50$7.2560
016$2.94$3.6530.90%$133.00—$7.25$7.9520
0161$2.32$2.9730.89%$135.00—$8.45$9.4040
423$2.05$2.6930.97%$136.00—————
01$1.76$2.4330.86%$137.00—$9.90$11.0010
52$1.66$2.2031.41%$138.00—$10.70$11.701000
03$1.40$1.9931.27%$139.00—$11.50$12.45100
214$1.25$1.5530.44%$140.00—$12.30$13.251000
052$0.86$1.2130.06%$142.00—————

Forward $128.81. The 25-delta put carries +0.07 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 32.69%±16.73skew +0.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
015$37.55$39.90—$90.00—————
0524$32.65$35.70—$95.00—————
019$30.25$33.25—$97.50—————
095$28.30$30.30—$100.00—————
180$23.45$26.10—$105.0035.04%$0.47$0.611,2073
0684$18.85$20.70—$110.0034.09%$0.91$1.139864
02,555$14.55$16.05—$115.0033.30%$1.78$1.879754
132,200$11.30$12.30—$120.0032.93%$3.05$3.20617310
514,449$8.35$8.60—$125.0032.60%$4.90$5.0544431
1411,856$5.80$6.0032.69%$130.00—$7.40$7.602,73536
753,802$3.85$4.0532.37%$135.00—$10.45$10.7028810
572,036$2.50$2.6532.36%$140.00—$13.65$14.853020
34956$1.59$1.7132.58%$145.00—$17.20$19.1530
3812,371$0.98$1.1733.20%$150.00—————
01,324$0.55$0.8133.63%$155.00—$25.60$28.6530

Forward $128.39. The 25-delta put carries +0.57 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 32.12%±20.05skew +0.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
033$42.55$45.55—$85.00—————
0106$40.50$43.10—$87.50—————
092$37.95$40.65—$90.00—————
0258$35.65$37.95—$92.50—————
0280$33.75$34.65—$95.00—————
0183$30.80$33.00—$97.50—————
0445$28.60$30.65—$100.0036.00%$0.53$0.782,0488
0180$24.00$25.70—$105.0034.25%$0.85$1.201,056193
0613$19.45$21.25—$110.0033.22%$1.59$1.751,8667
37,290$15.35$16.55—$115.0032.92%$2.72$2.761,01857
72,038$12.20$13.80—$120.0032.38%$4.10$4.253,60231
12,449$9.45$10.05—$125.0032.29%$6.05$6.3054847
1611,285$7.20$7.4032.12%$130.00—$8.55$8.7556327
353,366$5.30$5.4032.14%$135.00—$11.30$11.801391
2291,162$3.75$3.9032.12%$140.00—$14.70$15.70771
41,662$2.62$2.7832.24%$145.00—$18.90$20.30170
123,272$1.84$1.9832.59%$150.00—$22.20$24.30570
211,223$1.20$1.5833.29%$155.00—$26.05$29.15910
2826$0.83$1.0533.32%$160.00—————
1418$0.55$0.8534.19%$165.00—————
15242$0.44$0.6235.09%$170.00—————

Forward $128.64. The 25-delta put carries +0.68 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.