Options Skew Analytics

COP option chain

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

Data as of 9 November 2026 (end of day)

2026-11-13(4 days)ATM 41.20%±5.82skew +4.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$8.60$10.95—$125.00—————
01$7.70$9.70—$126.0044.95%$0.16$0.243017
21$6.55$9.10—$127.00—————
02$5.80$8.05—$128.00—————
017$4.95$7.50—$129.0044.37%$0.50$0.594086
014$4.55$6.30—$130.0044.61%$0.68$0.821,45243
032$4.50$5.60—$131.0043.27%$0.86$1.011316
06$3.90$4.25—$132.0043.00%$1.14$1.294849
01$3.20$3.55—$133.0042.86%$1.43$1.6924
4030$2.69$2.95—$134.0041.76%$1.82$2.01847
12959$2.17$2.3941.22%$135.00—$2.26$2.476267
14331$1.69$1.9240.80%$136.00—$2.77$2.99177
9081$1.25$1.4839.74%$137.00—$3.00$3.6018932
12612$0.92$1.3141.10%$138.00—$3.95$4.2514432
46117$0.67$0.8639.16%$139.00—$4.30$6.351101
1,1141,088$0.43$0.6238.16%$140.00—$5.10$7.202266
—————$141.00—$6.05$7.90258
—————$142.00—$6.55$9.101225
2755$0.18$0.2539.87%$143.00—$7.50$9.75120
—————$144.00—$8.45$10.55190
—————$145.00—$9.45$11.95788

Forward $134.91. The 25-delta put carries +4.11 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 37.61%±8.76skew +3.32
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
24,290$8.95$10.85—$125.0040.03%$0.68$0.7773820
0—$8.30$10.40—$126.0040.32%$0.82$1.02—1
0—$7.30$8.80—$127.0041.28%$0.99$1.40—1
0—$6.35$8.80—$128.0038.15%$0.98$1.46—1
0—$5.95$7.45—$129.0039.47%$1.46$1.72—1
111,920$5.80$6.35—$130.0039.47%$1.78$2.032,87692
—————$131.0039.11%$2.10$2.36225
6040$4.65$4.90—$132.0038.36%$2.41$2.71585
017$3.55$4.30—$133.0038.70%$2.81$3.25640
213$3.45$3.80—$134.0038.28%$3.30$3.651230
1163,691$2.96$3.0536.67%$135.00—$3.75$4.101,4794
52126$2.35$2.7236.17%$136.00—$3.95$4.754113
1671$2.05$2.3036.38%$137.00—$4.85$5.3510611
18$1.66$1.8735.51%$138.00—$5.35$6.05530
124$1.25$1.6235.03%$139.00—$6.15$6.65180
1,0752,440$1.02$1.3234.82%$140.00—$6.90$8.601,26514
20170$0.82$1.0534.50%$141.00—$6.95$9.40250
34190$0.58$0.8633.90%$142.00—$7.75$10.25573
115$0.51$0.7735.11%$143.00—$8.65$11.00415
—————$144.00—$10.25$12.001200
814,160$0.36$0.4535.07%$145.00—$10.50$12.954875

Forward $134.15. The 25-delta put carries +3.32 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 35.72%±10.62skew +1.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
015$8.95$11.50—$125.0036.28%$1.06$1.2390
020$8.15$10.75—$126.00—————
11$7.25$9.70—$127.0035.28%$1.43$1.6310
—————$128.0035.08%$1.70$1.8822
—————$129.0034.85%$1.98$2.1820
02$6.30$7.05—$130.0034.32%$2.24$2.501510
01$5.50$6.10—$131.00—————
—————$132.0033.88%$2.80$3.45012
03$4.30$4.95—$133.0035.49%$3.30$4.2540
—————$134.00—$3.85$4.2001
09$3.35$4.0535.75%$135.00—$4.25$5.101612
03$2.56$3.3532.99%$136.00—$4.75$5.45256
016$2.51$3.2035.44%$137.00—$5.40$6.25250
121$2.29$2.5134.50%$138.00—$5.95$6.6550
027$1.78$2.4534.77%$139.00—$6.60$7.5560
233$1.63$1.8633.91%$140.00—$7.35$8.00990
1230$1.34$1.6733.99%$141.00—$8.00$10.0550
411$1.17$1.4234.09%$142.00—$8.05$10.6540
1317$0.89$1.1933.34%$143.00—————
—————$144.00—$10.35$12.3010
110$0.61$0.9734.15%$145.00—$10.70$13.30556

Forward $133.85. The 25-delta put carries +1.29 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 34.77%±12.17skew +0.33
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$123.0036.00%$1.13$1.32180
—————$124.0037.48%$1.22$1.94220
01$9.65$12.00—$125.0035.36%$1.52$1.69194
—————$126.0035.23%$1.74$1.9650
—————$128.0034.85%$2.28$2.53180
—————$129.0034.65%$2.60$2.8501
1131$6.65$7.75—$130.0034.38%$2.93$3.20545
01$6.25$7.95—$131.0035.15%$3.20$3.95470
—————$132.0034.47%$3.65$4.20120
02$5.10$5.85—$133.0035.57%$4.10$5.00280
500$4.10$5.2034.08%$134.00—$4.60$5.1080
303$4.35$4.7036.47%$135.00—$4.85$6.20351
5223$3.90$4.2036.12%$136.00—$5.50$6.30170
233$2.93$3.8034.01%$137.00—$6.05$6.75177
013$2.82$3.9536.86%$138.00—$6.65$7.6011
0113$2.11$2.9632.95%$139.00—$7.25$8.00120
052$2.32$2.6034.74%$140.00—$8.00$9.20190
050$1.88$2.2933.95%$141.00—$8.70$9.3560
150$1.29$2.0732.58%$142.00—————
11$1.32$2.1134.90%$143.00—$9.35$12.2510
—————$144.00—$10.85$12.4010

Forward $133.80. The 25-delta put carries +0.33 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 33.47%±13.29skew +2.85
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$124.0036.41%$1.57$2.2101
—————$125.0036.48%$1.82$2.50012
—————$126.0035.61%$2.00$2.6750
11$7.90$9.70—$128.0035.85%$2.47$3.5510
—————$129.0034.31%$2.65$3.6511
02$7.45$8.15—$130.0035.43%$3.25$4.15331
11$6.90$7.70—$131.0035.16%$3.60$4.55118
08$5.80$7.10—$132.0034.55%$4.00$4.85018
1122$5.75$6.65—$133.0035.85%$4.60$5.6020
1120$4.70$5.90—$134.00—————
40$4.40$5.3033.38%$135.00—————
34$4.25$5.2035.36%$136.00—$6.00$7.00100
44$3.50$4.3032.71%$137.00—————
01$3.25$4.3534.52%$138.00—$7.00$8.65100
01$2.42$3.2532.62%$140.00—$8.00$9.2550
—————$141.00—$9.15$10.5040
5150$2.15$2.6633.63%$142.00—————
25$1.12$1.5134.88%$148.00—$13.90$16.3501
—————$155.00—$20.45$23.3570

Forward $134.10. The 25-delta put carries +2.85 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 33.11%±14.56skew +2.32
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
092$43.10$45.65—$90.00—————
0258$40.60$43.15—$92.50—————
130280$38.15$40.40—$95.00—————
1183$35.75$38.20—$97.50—————
2442$33.25$35.70—$100.00—————
0180$28.45$30.70—$105.00—————
24514$23.35$25.55—$110.0038.26%$0.26$0.433,14442
117,224$19.10$21.00—$115.00—————
15,276$14.45$16.10—$120.0035.13%$1.16$1.294,60871
22,284$11.55$12.25—$125.0034.59%$2.17$2.381,41391
632,107$8.20$8.50—$130.0033.74%$3.75$3.901,45479
1473,761$5.45$5.6533.15%$135.00—$5.90$6.2070321
1681,404$3.40$3.5032.46%$140.00—$8.85$9.1541732
862,117$1.98$2.1232.28%$145.00—$12.40$13.902051
353,862$1.09$1.2332.24%$150.00—$16.50$18.0578838
391,447$0.58$0.7632.84%$155.00—$20.45$22.901030
—————$160.00—$25.30$27.90110
—————$165.00—$30.25$32.8520
—————$170.00—$35.20$37.7553
—————$175.00—$40.15$42.6510
—————$180.00—$45.15$47.7010

Forward $134.50. The 25-delta put carries +2.32 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 32.15%±18.60skew +1.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0178$48.10$50.40—$85.00—————
603,659$45.70$48.15—$87.50—————
11159$43.20$45.65—$90.00—————
50232$40.75$43.20—$92.50—————
0508$38.25$40.70—$95.00—————
0449$35.80$38.25—$97.5038.84%$0.15$0.219619
01,445$33.50$35.45—$100.00—————
1555$28.60$31.05—$105.00—————
0984$23.90$26.50—$110.0036.45%$0.71$0.961,3530
2122,712$19.75$21.70—$115.0035.29%$1.17$1.592,7536
02,161$16.60$17.40—$120.0033.87%$2.04$2.262,71519
15,681$13.20$13.60—$125.0033.26%$3.30$3.501,84320
297,271$9.95$10.35—$130.0032.62%$5.00$5.201,52591
53,276$7.25$7.55—$135.0032.28%$7.25$7.501,82754
451,836$5.10$5.3031.79%$140.00—$10.10$10.35782320
1613,494$3.50$3.6531.66%$145.00—$13.45$14.803895
1303,205$2.32$2.4631.60%$150.00—$17.40$18.906501
962,788$1.50$1.6031.54%$155.00—$20.80$23.301116
431,414$0.93$1.0431.55%$160.00—————
181,421$0.52$0.6731.39%$165.00—$30.30$32.6010
9523$0.29$0.4131.26%$170.00—$35.20$37.90100

Forward $135.03. The 25-delta put carries +1.66 volatility points over the 25-delta call.

2027-02-19(102 days)ATM 33.26%±23.75skew +1.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$52.95$55.70—$80.00—————
07$48.25$50.85—$85.00—————
03$43.30$46.00—$90.00—————
010$38.65$41.20—$95.00—————
09$34.10$36.30—$100.00—————
013$29.30$31.95—$105.00—————
039$25.15$27.35—$110.0036.35%$1.38$1.99711
0133$21.05$23.45—$115.0034.24%$2.00$2.56750
0222$16.75$18.95—$120.0034.32%$3.40$3.6536331
0185$14.90$16.05—$125.0033.84%$4.85$5.20754
082$11.80$13.30—$130.0033.60%$6.80$7.1521858
28187$9.25$9.60—$135.0033.39%$9.20$9.5030528
11,031$7.10$7.4033.13%$140.00—$11.85$13.451970
2378$5.10$5.9533.10%$145.00—$15.10$16.702940
12322$3.85$4.1532.49%$150.00—$18.75$20.451550
2156$2.79$3.1532.62%$155.00—$21.95$24.55830
20300$1.94$2.2932.41%$160.00—$26.50$28.30170
2188$1.37$2.0933.77%$165.00—$30.80$33.4010
—————$180.00—$45.25$47.8520

Forward $135.08. The 25-delta put carries +1.69 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.