Options Skew Analytics

CSX option chain

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

Data as of 22 September 2026 (end of day)

2026-10-02(10 days)ATM 24.63%±1.90skew -1.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$4.90$6.00—$41.00—————
013$4.00$5.40—$42.00—————
05$3.00$4.10—$43.00—————
1070$3.10$3.30—$43.50—————
21$2.05$2.85—$44.00—————
—————$44.5025.17%$0.10$0.151024
020$1.50$2.05—$45.0024.74%$0.15$0.25385
—————$45.5024.95%$0.25$0.4010
1226$0.75$1.20—$46.0024.42%$0.40$0.5540
350$0.75$0.90—$46.5024.77%$0.65$0.7510
117$0.50$0.6524.20%$47.00—$0.90$1.05243
32$0.35$0.5025.32%$47.50—————
—————$48.00—$1.55$2.154751
1131$0.15$0.2526.03%$48.50—$1.80$2.85190
—————$49.00—$2.40$3.00272
—————$50.00—$3.30$3.9090
—————$51.00—$4.10$5.1060

Forward $46.63. The 25-delta put carries -1.08 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 24.13%±2.43skew +0.59
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$2.10$3.30—$44.0026.06%$0.15$0.2561
05$1.50$2.25—$45.0024.89%$0.30$0.4580
3535$1.00$1.40—$46.0023.98%$0.60$0.75210
21$0.95$1.15—$46.50—————
030$0.70$0.9024.26%$47.00—$1.10$1.2562
02$0.55$0.7024.78%$47.50—————
322$0.40$0.5024.32%$48.00—$1.70$2.3520
21$0.25$0.4024.29%$48.50—————
15205$0.20$0.3025.05%$49.00—$2.20$3.40130
50$0.15$0.2025.03%$49.50—————
2189$0.10$0.1525.31%$50.00—$3.40$4.00711

Forward $46.62. The 25-delta put carries +0.59 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 23.97%±2.87skew +1.12
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$6.00$6.80—$40.00—————
—————$44.0025.80%$0.25$0.35100
—————$44.5025.56%$0.35$0.4550
056$1.75$2.35—$45.0024.70%$0.45$0.5525126
30$1.60$2.00—$45.50—————
81$1.40$1.60—$46.0024.66%$0.80$0.9073
4514$1.15$1.35—$46.5024.13%$1.00$1.1042
821$0.90$1.1023.92%$47.00—————
10110$0.75$0.8524.04%$47.50—$1.55$1.657562
540$0.45$0.5023.84%$48.50—————
21$0.30$0.4023.59%$49.00—————
2321,316$0.15$0.2023.05%$50.00—$3.40$4.2076114
—————$52.50—$5.80$6.7011

Forward $46.70. The 25-delta put carries +1.12 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 28.91%±3.93skew +1.62
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
60$8.10$8.90—$38.00—————
017$3.50$4.30—$43.0031.14%$0.30$0.5010
—————$44.0029.82%$0.50$0.6512
—————$45.0029.74%$0.75$1.0002
123$1.60$2.05—$46.0028.37%$1.10$1.3041
83$1.35$1.5028.94%$47.00—$1.60$1.8520
03$0.95$1.0528.51%$48.00—$2.15$2.75440
1266$0.65$0.7528.70%$49.00—$2.80$3.60100
08$0.40$0.5028.20%$50.00—————
640$0.30$0.3529.29%$51.00—————

Forward $46.70. The 25-delta put carries +1.62 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 28.24%±4.26skew -0.22
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$42.0030.94%$0.25$0.4010
—————$43.0029.43%$0.40$0.5031
—————$44.0028.02%$0.55$0.7020
—————$45.0028.73%$0.85$1.1036
12$1.85$2.15—$46.0028.20%$1.20$1.5021
491$1.45$1.6528.25%$47.00—$1.70$2.0010
01$1.05$1.2027.93%$48.00—$2.25$3.2011
05$0.75$0.8527.84%$49.00—————
018$0.50$0.6528.24%$50.00—————
11$0.35$0.5029.06%$51.00—$4.50$5.5010

Forward $46.70. The 25-delta put carries -0.22 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 27.29%±5.14skew +1.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
028$20.50$22.30—$25.00—————
069$18.00$19.80—$27.50—————
018$15.50$17.20—$30.00—————
01$13.30$14.80—$32.50—————
011$9.80$13.10—$35.00—————
054$8.80$9.60—$37.50—————
369$6.30$7.30—$40.0030.71%$0.20$0.302370
09$4.50$5.10—$42.5028.42%$0.50$0.6041447
6353$2.85$3.20—$45.0027.61%$1.15$1.3046716
26556$1.70$1.8027.24%$47.50—$2.30$2.451,10323
541,803$0.80$0.9526.82%$50.00—$3.90$4.204,42817
521,116$0.35$0.4526.81%$52.50—$6.00$6.401,1530
642,172$0.15$0.2027.17%$55.00—$8.30$9.0070

Forward $46.87. The 25-delta put carries +1.60 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 25.84%±5.91skew +1.92
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$29.60$33.60—$15.00—————
011$27.70$31.10—$17.50—————
04$24.80$28.10—$20.00—————
0100$23.60$24.60—$22.50—————
01$20.40$22.60—$25.00—————
0109$18.30$20.20—$27.50—————
076$16.70$17.00—$30.00—————
0822$13.50$14.90—$32.50—————
02,052$11.20$12.10—$35.00—————
03,775$8.90$9.70—$37.50—————
6176$6.90$7.40—$40.0028.99%$0.35$0.452,3963
1420$4.70$5.30—$42.5027.41%$0.75$0.8535212
13864$3.20$3.50—$45.0026.37%$1.45$1.6047647
139362$1.95$2.1525.83%$47.50—$2.60$2.7566819
39723$1.15$1.2526.19%$50.00—$4.20$4.605434
421,924$0.55$0.6525.49%$52.50—$6.10$6.602170
141,123$0.25$0.3525.64%$55.00—$8.40$9.10290

Forward $46.87. The 25-delta put carries +1.92 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 26.52%±7.00skew +1.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$29.60$33.50—$15.00—————
027$25.40$27.30—$20.00—————
064$23.30$24.70—$22.50—————
0258$21.10$22.10—$25.00—————
059$18.00$20.90—$27.50—————
0263$16.30$17.70—$30.00—————
0524$13.70$14.80—$32.50—————
01,975$11.40$12.20—$35.00—————
01,728$9.10$9.90—$37.50—————
03,780$7.10$7.70—$40.0027.98%$0.45$0.603,7380
03,276$4.90$5.70—$42.5026.96%$0.90$1.101,0180
01,965$3.50$4.00—$45.0026.73%$1.75$1.903,33092
9445$2.50$2.6026.53%$47.50—$2.90$3.1041916
2959$1.45$1.6025.58%$50.00—$4.40$5.001,088101
71,698$0.85$0.9025.28%$52.50—$6.20$6.7024337
82,373$0.40$0.5525.08%$55.00—$8.40$9.001,0628
11310$0.20$0.3025.08%$57.50—————

Forward $47.04. 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.