Options Skew Analytics

CVS 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 30.99%±2.45skew +0.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$26.60$29.30—$60.00—————
20$21.90$24.30—$65.00—————
20$16.70$18.15—$70.00—————
21$11.80$12.95—$75.00—————
22$6.75$8.15—$80.00—————
03$5.90$7.10—$81.00—————
02$4.95$6.25—$82.00—————
040$4.00$5.00—$83.00—————
64$2.33$3.25—$85.0031.95%$0.20$0.2920669
6180$1.54$2.32—$86.0031.77%$0.43$0.541,306131
1161,078$1.03$1.22—$87.0031.15%$0.76$0.941,774326
355720$0.58$0.7330.76%$88.00—$1.06$1.661,119770
144745$0.31$0.4231.36%$89.00—$1.95$2.309262
161304$0.14$0.2331.68%$90.00—$2.51$3.151756
246328$0.08$0.1032.30%$91.00—$3.20$4.0517619
—————$92.00—$4.20$5.051292
—————$93.00—$5.15$6.05562
—————$94.00—$6.00$7.4570
15235$0.01$0.0241.76%$95.00—$7.00$8.5010
—————$130.00—$41.55$44.3002
—————$135.00—$46.75$49.3002

Forward $87.28. The 25-delta put carries +0.41 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 28.37%±4.10skew +0.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
21$21.75$23.00—$65.00—————
06$7.05$7.60—$80.00—————
—————$81.0031.99%$0.12$0.19641
—————$82.0031.04%$0.20$0.2611512
01$4.20$6.05—$83.0030.17%$0.30$0.38529171
—————$84.0029.42%$0.46$0.547916
10$2.85$3.80—$85.0028.97%$0.69$0.788327
202$2.28$2.51—$86.0028.75%$1.00$1.124925
4510$1.75$1.88—$87.0028.51%$1.41$1.544613
4737$1.26$1.3928.25%$88.00—$1.91$2.0711577
439$0.89$1.0328.53%$89.00—$2.37$2.86721
13127$0.60$0.7028.20%$90.00—$2.83$3.751251
5521$0.40$0.4828.36%$91.00—$3.85$4.45643
1530$0.27$0.4029.89%$92.00—$4.30$5.75800
—————$93.00—$5.35$6.30820
—————$94.00—$6.30$7.40210
—————$95.00—$6.75$8.85140
—————$96.00—$7.75$9.55940
—————$97.00—$9.05$10.2550
—————$98.00—$9.90$11.0530
—————$105.00—$16.75$18.7010

Forward $87.34. The 25-delta put carries +0.78 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 30.49%±5.75skew +0.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$80.0033.50%$0.26$0.3914
—————$81.0033.11%$0.35$0.544000
—————$82.0031.46%$0.50$0.5814
—————$83.0031.03%$0.67$0.783416
—————$84.0031.04%$0.94$1.032438
01$3.50$4.75—$85.0030.81%$1.23$1.35482
02$2.60$3.65—$86.0030.82%$1.59$1.76522
—————$87.0030.59%$2.01$2.21492
48$1.90$2.0930.45%$88.00—$2.51$2.7316335
91$1.51$1.6830.57%$89.00—$3.10$3.406764
416$1.17$1.3130.43%$90.00—$3.60$4.15433
1024$0.89$1.0030.27%$91.00—$3.60$5.155390
3149$0.66$0.7730.26%$92.00—$4.75$5.651372
132$0.50$0.5930.52%$93.00—$5.10$6.85210
5115$0.36$0.5131.32%$94.00—$5.95$7.50480
2782$0.25$0.3931.36%$95.00—$6.90$8.7050
4348$0.18$0.2530.81%$96.00—$7.80$9.6530
—————$97.00—$8.75$10.6020
—————$98.00—$9.75$11.6010
—————$99.00—$10.70$12.5001
—————$102.00—$13.70$15.6510

Forward $87.37. The 25-delta put carries +0.77 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 30.48%±6.83skew +1.43
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
037$7.80$8.65—$80.0032.29%$0.48$0.52719346
—————$81.0032.21%$0.62$0.7120
—————$82.0031.84%$0.80$0.901846
—————$83.0031.54%$1.02$1.142911
10$4.65$5.40—$84.0031.37%$1.31$1.423328
230$4.00$4.65—$85.0031.13%$1.63$1.76701355
11$3.30$3.65—$86.0030.68%$1.98$2.14018
122124$2.67$3.10—$87.0030.39%$2.41$2.5820118
143335$2.55$2.8130.43%$87.50—$2.66$2.84649233
116346$2.39$2.5330.57%$88.00—$2.85$3.10257186
132183$1.96$2.1030.47%$89.00—$3.10$3.658891
199806$1.59$1.7130.32%$90.00—$4.00$4.301,16321
956$1.27$1.3830.18%$91.00—$4.35$5.2001
5149$1.00$1.1030.04%$92.00—————
150410$0.90$0.9830.12%$92.50—$5.45$6.204313
1736$0.79$0.8830.12%$93.00—————
32$0.63$0.7030.31%$94.00—————
3021,109$0.49$0.5630.49%$95.00—$7.45$8.301,9620
42$0.37$0.5431.58%$96.00—————
126$0.28$0.4531.91%$97.00—————
422,297$0.26$0.3030.85%$97.50—$9.50$10.85592

Forward $87.43. The 25-delta put carries +1.43 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 31.39%±7.99skew +0.71
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$16.15$19.45—$70.00—————
—————$80.0033.64%$0.69$0.9513910
—————$82.0031.49%$0.92$1.32363
—————$83.0032.55%$1.32$1.6616
—————$84.0031.20%$1.47$1.932413
21$4.00$5.55—$85.0031.54%$1.66$2.55251
20$3.45$4.60—$86.0030.91%$2.01$2.92210
02$3.10$4.05—$87.0030.54%$2.35$3.45252
112$2.61$3.2031.56%$88.00—$3.15$3.90382
08$2.10$2.4829.66%$89.00—$3.50$4.5530
110$1.71$2.2030.05%$90.00—$3.65$5.15280
—————$91.00—$4.60$5.95161
56$1.04$1.6329.95%$92.00—$5.15$6.9560
53$0.90$1.4230.78%$93.00—$5.85$7.85160
15$0.67$1.0629.65%$94.00—$6.65$8.55100
—————$95.00—$7.85$9.10110
—————$96.00—$8.15$11.1510
527$0.35$0.5730.11%$97.00—————
—————$100.00—$11.50$14.9010
—————$101.00—$12.45$15.4010
—————$102.00—$13.10$16.8530

Forward $87.38. The 25-delta put carries +0.71 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 31.30%±8.82skew +4.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$80.0032.95%$0.83$1.19388
—————$81.0033.24%$1.02$1.5241
—————$82.0032.86%$1.27$1.754910
—————$83.0032.48%$1.59$1.98108
—————$84.0032.14%$1.80$2.4021
02$4.35$5.75—$85.0031.79%$2.13$2.781880
—————$86.0031.88%$2.40$3.40140
—————$87.0032.52%$3.20$3.7094
54112$2.70$3.7031.18%$88.00—$3.50$4.15110
08$2.38$3.2531.57%$89.00—$3.80$5.0043
312$1.92$2.5029.54%$90.00—$4.40$5.7510
—————$92.00—$5.75$7.30101
—————$93.00—$6.25$7.8010
—————$94.00—$7.15$8.801430
8798$0.70$1.0028.86%$95.00—————
—————$97.00—$9.25$11.7020
—————$100.00—$11.35$14.5060
—————$104.00—$15.15$18.8510
—————$115.00—$26.25$29.2530

Forward $87.37. The 25-delta put carries +4.00 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 33.20%±11.64skew +2.12
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$26.30$29.50—$60.00—————
05$23.50$26.50—$62.50—————
05$20.95$23.85—$65.00—————
021$19.35$21.25—$67.5039.57%$0.24$0.313264
047$17.30$18.85—$70.0037.80%$0.33$0.453442
210$14.75$16.10—$72.50—————
040$12.75$14.30—$75.0036.22%$0.86$0.9668815
358$10.65$11.70—$77.5035.22%$1.25$1.371725
6329$9.00$9.80—$80.0034.61%$1.81$1.9667921
0235$7.15$7.85—$82.5034.27%$2.60$2.737152
12379$5.65$5.90—$85.0033.63%$3.50$3.706,53415
18420$4.35$4.6033.24%$87.50—$4.70$4.8556043
24373$3.30$3.5033.04%$90.00—$6.10$6.351,4198
11377$2.38$2.5732.45%$92.50—$7.40$8.2057439
532,408$1.76$1.8732.49%$95.00—$9.10$10.151,4600
3543$1.24$1.3432.36%$97.50—$11.05$12.103191
733,023$0.84$0.9832.39%$100.00—$12.80$14.402520
91,847$0.41$0.5833.58%$105.00—$17.60$18.856200
32,104$0.21$0.2733.91%$110.00—$22.10$23.80680
—————$115.00—$27.00$29.05170
—————$120.00—$31.50$34.40130

Forward $87.20. The 25-delta put carries +2.12 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 31.77%±13.56skew +2.01
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0561$29.15$31.05—$57.50—————
0646$27.05$28.60—$60.00—————
0771$24.65$26.20—$62.5039.21%$0.20$0.2519521
0297$22.25$23.75—$65.00—————
2928$19.80$21.45—$67.5036.53%$0.37$0.5233152
0879$17.65$19.15—$70.00—————
01,095$15.15$16.95—$72.5035.49%$0.83$1.126983
01,819$13.00$14.80—$75.0033.84%$1.20$1.331,3277
1291$11.05$12.75—$77.5033.08%$1.67$1.8118719
20597$9.65$10.40—$80.0032.69%$2.33$2.462155
0519$7.70$9.15—$82.5032.23%$3.10$3.302822
1407$6.50$6.80—$85.0031.93%$4.10$4.305116
40168$5.20$5.4531.90%$87.50—$5.35$5.501,3683
6881$4.05$4.3031.39%$90.00—$6.60$6.854387
5702$3.05$3.3530.88%$92.50—$7.50$8.453300
15719$2.33$2.5430.64%$95.00—$9.50$10.652270
62,170$1.78$1.9330.68%$97.50—$11.45$12.252530
22679$1.33$1.4530.66%$100.00—$13.05$14.502,6350
1,1411,132$0.74$0.8531.13%$105.00—$17.40$19.154320
81,079$0.39$0.5131.64%$110.00—$22.20$23.903020
—————$115.00—$27.05$28.701240

Forward $87.40. The 25-delta put carries +2.01 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.