Options Skew Analytics

CSX option chain

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

Data as of 6 November 2026 (end of day)

2026-11-20(14 days)ATM 27.92%±2.71skew +1.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
019$19.30$21.30—$30.00—————
01$16.80$19.10—$32.50—————
011$14.30$16.60—$35.00—————
059$11.80$13.90—$37.50—————
01$10.30$12.50—$39.00—————
069$9.40$10.70—$40.00—————
07$6.90$9.10—$42.50—————
0356$4.50$5.50—$45.00—————
020$3.10$5.00—$46.50—————
20$2.60$3.00—$47.00—————
—————$47.5030.67%$0.35$0.508953
022$1.95$2.15—$48.0029.40%$0.45$0.607566
438$1.60$1.75—$48.5028.86%$0.60$0.75412
454$1.30$1.45—$49.0028.15%$0.75$0.95370
4912$1.00$1.15—$49.50—$1.00$1.1541120
254,246$0.80$0.9027.86%$50.00—$1.25$1.404,39022
11649$0.45$0.6028.52%$51.00—$1.90$2.103102
33461$0.25$0.4029.68%$52.00—$2.35$3.002422
—————$52.50—$2.60$3.501,1570
—————$53.00—$3.00$4.3030
—————$55.00—$4.70$6.30330

Forward $49.50. The 25-delta put carries +1.00 volatility points over the 25-delta call.

2026-11-27(21 days)ATM 27.10%±3.22skew +2.09
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$8.30$10.70—$41.00—————
01$3.60$4.30—$46.00—————
—————$47.0029.53%$0.35$0.5510
02$2.15$2.35—$48.0028.04%$0.55$0.8060
012$1.45$1.70—$49.0027.24%$0.90$1.1524
7580$0.95$1.2027.08%$50.00—————
125$0.60$0.8527.59%$51.00—$2.05$2.2540
1149$0.35$0.5527.44%$52.00—$2.70$3.101170

Forward $49.55. The 25-delta put carries +2.09 volatility points over the 25-delta call.

2026-12-04(28 days)ATM 26.01%±3.56skew +1.10
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$46.0028.90%$0.30$0.451930
—————$47.0027.59%$0.50$0.6001
07$2.20$2.60—$48.0026.89%$0.75$0.9002
0135$1.60$1.75—$49.0026.28%$1.10$1.30150
26$1.10$1.2525.94%$50.00—$1.60$1.80341
125$0.75$0.9026.40%$51.00—————
012$0.50$0.6026.49%$52.00—$2.95$3.20102
0248$0.30$0.4527.15%$53.00—————
—————$54.00—$4.00$5.0020
—————$55.00—$4.60$6.4020

Forward $49.48. The 25-delta put carries +1.10 volatility points over the 25-delta call.

2026-12-11(35 days)ATM 27.00%±4.14skew +0.52
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$46.0029.15%$0.40$0.60501
—————$47.0028.02%$0.60$0.803810
3100$2.40$2.70—$48.0027.93%$0.85$1.20500
0100$1.80$2.10—$49.0027.18%$1.25$1.5520
032$1.25$1.6026.98%$50.00—$1.75$2.051711
—————$51.00—$2.30$2.6020
011$0.60$0.9027.35%$52.00—$2.80$3.5010
07$0.40$0.6527.50%$53.00—————
362$0.25$0.4026.72%$54.00—————

Forward $49.52. The 25-delta put carries +0.52 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 25.57%±5.57skew +2.55
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$32.70$35.80—$15.00—————
027$28.80$31.00—$20.00—————
064$26.10$28.30—$22.50—————
0257$24.10$26.00—$25.00—————
058$21.50$23.50—$27.50—————
0260$19.00$21.30—$30.00—————
0517$16.50$18.40—$32.50—————
01,965$14.30$15.90—$35.00—————
01,722$12.00$13.30—$37.50—————
33,682$9.70$9.90—$40.00—————
03,283$7.30$8.10—$42.5029.63%$0.25$0.401,2200
01,993$5.20$6.20—$45.0027.59%$0.55$0.753,4836
0490$3.30$3.70—$47.5026.18%$1.15$1.408364
11,097$1.95$2.2025.58%$50.00—$2.20$2.501,12716
152,174$1.05$1.1524.96%$52.50—$3.40$4.202620
222,569$0.50$0.6025.03%$55.00—$5.10$6.201,0480
3420$0.25$0.3025.66%$57.50—————
97,947$0.10$0.1525.91%$60.00—————

Forward $49.72. The 25-delta put carries +2.55 volatility points over the 25-delta call.

2027-02-19(105 days)ATM 27.33%±7.34skew +2.40
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$10.00$11.20—$40.0031.07%$0.25$0.351950
01$7.80$8.80—$42.5029.40%$0.50$0.60630
—————$45.0028.26%$0.90$1.1022226
022$4.10$4.90—$47.5028.20%$1.60$2.004215
0109$2.70$3.20—$50.0027.43%$2.70$3.006811
0110$1.65$2.1527.08%$52.50—$3.70$4.802191
20515$0.90$1.2525.86%$55.00—$5.90$6.40121
0163$0.55$0.8526.99%$57.50—$7.50$8.50210

Forward $50.10. The 25-delta put carries +2.40 volatility points over the 25-delta call.

2027-03-19(133 days)ATM 26.28%±7.93skew +2.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$26.40$29.00—$22.50—————
010$18.90$21.80—$30.00—————
028$16.70$18.60—$32.50—————
010$14.70$15.90—$35.00—————
078$12.40$13.50—$37.50—————
0117$10.10$11.20—$40.0029.59%$0.35$0.451,7040
046$7.90$9.00—$42.5028.51%$0.65$0.801850
0721$6.00$6.80—$45.0027.89%$1.20$1.351,90041
0132$4.40$4.60—$47.5026.78%$1.90$2.157781
114550$3.00$3.2026.28%$50.00—$2.95$3.306055
0792$2.00$2.2026.29%$52.50—$4.20$4.702181
20645$1.25$1.3525.59%$55.00—$6.00$6.6071
0701$0.75$0.8525.52%$57.50—————
02,219$0.45$0.5525.86%$60.00—————

Forward $49.97. The 25-delta put carries +2.29 volatility points over the 25-delta call.

2027-05-21(196 days)ATM 27.69%±10.22skew +2.10
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$15.10$16.30—$35.00—————
05$12.80$13.90—$37.50—————
03$10.70$11.80—$40.00—————
—————$42.5028.74%$1.05$1.20291
—————$45.0028.75%$1.60$2.05120
0175$5.20$6.10—$47.5029.25%$2.45$3.2010
—————$50.0028.19%$3.50$4.2040
012$2.75$3.4027.41%$52.50—————
079$1.90$2.5027.03%$55.00—————
018$1.30$1.7526.65%$57.50—————
012$0.85$1.2026.28%$60.00—————
—————$70.00—$18.50$22.00—0

Forward $50.39. The 25-delta put carries +2.10 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.