Options Skew Analytics

CTAS 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 64.80%±11.66skew +1.71
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$170.0079.60%$0.05$0.108993
01$20.50$24.60—$175.0078.24%$0.15$0.2540220
—————$177.5072.51%$0.20$0.256206
200$15.90$19.10—$180.0071.44%$0.30$0.4083335
10$13.40$17.10—$182.5070.97%$0.50$0.60166390
01$11.60$14.70—$185.0067.46%$0.65$0.80142277
70$9.30$12.50—$187.5067.10%$1.00$1.2030448
262$8.00$10.40—$190.0066.51%$1.35$1.8561384
167$5.90$8.80—$192.5063.31%$1.90$2.301449
10014$6.00$6.80—$195.0067.46%$3.10$3.40259982
1,33164$5.00$5.20—$197.5064.02%$3.70$4.5059179
35462$3.70$4.3065.41%$200.00—$4.90$5.8023119
20226$2.55$3.2063.47%$202.50—$5.50$7.30110
174158$1.80$2.4063.67%$205.00—$8.00$9.20524
9024$1.40$1.7064.80%$207.50—$10.00$13.3001
26094$0.95$1.2565.23%$210.00—$11.90$15.10300
13331$0.65$0.8064.57%$212.50—————
22615$0.45$0.6066.08%$215.00—$15.00$19.7030
942$0.30$0.3565.27%$217.50—————
—————$220.00—$20.90$24.7040
—————$225.00—$25.50$30.5010

Forward $198.50. The 25-delta put carries +1.71 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 39.97%±13.13skew +1.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
30$20.70$24.60—$175.00—————
200$16.20$19.90—$180.00—————
—————$182.5045.01%$0.75$1.1015
41$12.20$15.20—$185.00—————
—————$187.5043.75%$1.40$2.0507
01$8.50$11.30—$190.0041.96%$1.85$2.50175
110$7.10$9.50—$192.5040.90%$2.45$3.20372
1913$5.40$7.70—$195.0041.62%$3.60$4.10207
5647$5.50$6.00—$197.5040.30%$4.40$5.205545
13149$4.00$5.0039.86%$200.00—$5.60$6.4091
4712$3.20$3.8039.92%$202.50—————
2610$2.30$3.1040.19%$205.00—$8.20$11.2010
44$1.70$2.4540.66%$207.50—$10.60$13.50500
116$1.25$1.8040.56%$210.00—$12.30$15.40760
1510$0.70$1.1542.54%$215.00—————

Forward $198.45. The 25-delta put carries +1.30 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 33.94%±14.55skew +3.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
40$20.50$24.80—$175.00—————
—————$182.5038.36%$0.95$1.5502
20$12.60$15.90—$185.0036.71%$1.35$1.7041
—————$187.5036.52%$1.65$2.4501
12$8.90$11.80—$190.0036.16%$2.25$3.10182
—————$192.5035.24%$2.90$3.80013
01$6.10$8.30—$195.0034.55%$3.70$4.70182
120$5.90$6.90—$197.5034.12%$4.70$5.80018
12$4.60$5.7033.85%$200.00—$6.00$7.1090
160$3.60$4.5033.47%$202.50—$7.00$10.0001
03$2.75$3.4032.82%$205.00—————
20$2.10$2.7033.09%$207.50—————
10$1.60$2.0533.14%$210.00—————
30$1.20$1.9534.98%$212.50—————
017$0.90$1.3034.15%$215.00—————

Forward $198.65. The 25-delta put carries +3.02 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 29.82%±15.21skew +3.54
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$45.40$52.20—$150.00—————
31$21.60$25.20—$175.00—————
—————$177.5035.60%$0.70$1.0506
20$17.00$20.60—$180.0035.82%$0.95$1.507588
20$12.70$16.30—$185.0034.67%$1.65$2.35472
—————$187.5033.66%$2.00$2.9002
10$10.70$12.50—$190.0033.85%$2.90$3.5012119
618$6.70$8.80—$195.0031.04%$4.10$4.907723
134$6.40$7.30—$197.5030.43%$5.20$5.80044
17499$5.20$5.8029.76%$200.00—$6.50$7.602075
25$4.10$5.2030.79%$202.50—————
50$3.20$4.3030.83%$205.00—————
31$2.50$3.6031.21%$207.50—————
7289$1.90$2.5530.12%$210.00—$12.90$16.10290
31$1.50$2.3031.40%$212.50—————
2510$1.20$1.8531.85%$215.00—————
—————$220.00—$20.80$24.60100

Forward $198.85. The 25-delta put carries +3.54 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 29.85%±17.31skew +3.97
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$180.0033.47%$1.20$1.7012
—————$185.0032.54%$1.90$2.7010
02$10.00$12.90—$190.00—————
40$7.60$9.60—$195.0030.51%$4.60$5.7009
58$5.90$6.9029.81%$200.00—$6.70$8.10016
01$3.60$4.6028.50%$205.00—$9.60$12.5020
230$2.30$3.0028.57%$210.00—————
17$1.45$1.9529.00%$215.00—————
—————$220.00—$21.40$25.3010

Forward $199.00. The 25-delta put carries +3.97 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 28.71%±18.44skew +3.63
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$180.0032.53%$1.45$2.101023
—————$185.0031.53%$2.25$3.101080
—————$190.0029.75%$3.20$4.3011
42$7.90$10.10—$195.0029.15%$4.90$6.1040
471$6.30$7.5028.71%$200.00—$7.20$8.40047
20$1.70$2.3527.90%$215.00—————
60$1.10$1.6528.66%$220.00—————

Forward $199.10. The 25-delta put carries +3.63 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 27.50%±22.02skew +3.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$75.90$82.40—$120.00—————
01$60.90$67.60—$135.00—————
04$41.20$46.40—$155.00—————
05$32.00$36.30—$165.00—————
06$27.70$31.50—$170.0030.54%$0.90$1.2078104
082$23.40$27.00—$175.0031.44%$1.55$2.20341262
071$19.30$22.90—$180.0030.32%$2.25$3.001,22716
188$15.40$18.90—$185.0029.52%$3.30$4.10422
179$12.90$14.60—$190.0028.55%$4.60$5.501031
033$9.40$12.00—$195.0027.50%$6.10$7.402710
2270$7.80$8.8027.51%$200.00—$8.70$9.701798
7159$3.80$4.6026.24%$210.00—$14.10$17.601100
1974$1.70$2.4026.38%$220.00—————
—————$230.00—$29.20$35.8011

Forward $199.09. The 25-delta put carries +3.14 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 26.14%±25.53skew +1.74
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
08$85.70$92.60—$110.00—————
01$75.80$82.50—$120.00—————
02$60.50$68.50—$135.00—————
02$55.50$61.80—$140.00—————
02$50.60$56.90—$145.00—————
01$45.90$52.10—$150.00—————
02$41.10$48.90—$155.00—————
01$37.00$44.30—$160.00—————
011$32.40$37.70—$165.00—————
010$28.80$32.60—$170.0030.82%$1.60$2.3083
01,935$24.20$28.40—$175.0030.71%$2.55$3.10111
089$20.40$25.20—$180.0029.51%$3.30$4.00872
017$17.10$20.90—$185.0028.19%$4.10$5.201070
09$13.60$17.10—$190.0028.33%$6.10$6.70652
03$10.60$13.90—$195.0026.94%$6.70$9.2080
95564$9.40$10.80—$200.0026.13%$9.10$11.00780
112,281$5.70$6.7026.30%$210.00—$15.10$19.00220
12171$3.20$4.0026.45%$220.00—$22.80$27.10200
2115$1.55$2.4026.54%$230.00—$31.20$36.1030

Forward $200.05. The 25-delta put carries +1.74 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.