Options Skew Analytics

DAL option chain

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

Data as of 6 November 2026 (end of day)

2026-11-13(7 days)ATM 47.86%±5.80skew +2.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
5051$9.80$11.55—$77.00—————
097$8.00$10.50—$78.00—————
1133$8.50$9.25—$79.00—————
24178$7.40$8.65—$80.0051.86%$0.24$0.37320165
1973$6.75$7.70—$81.0052.22%$0.39$0.5050112
46191$5.70$6.75—$82.0049.03%$0.44$0.60174108
18196$4.95$5.90—$83.0050.52%$0.72$0.83108106
56295$4.45$4.70—$84.0048.42%$0.78$1.136427
47204$3.65$4.00—$85.0048.58%$1.17$1.3837499
80223$3.10$3.35—$86.0047.86%$1.51$1.733428
27970$2.51$2.74—$87.0047.68%$1.93$2.18313139
123628$1.92$2.2447.93%$88.00—$2.43$2.7319432
84399$1.52$1.8148.01%$89.00—$2.59$3.3060217
2135,754$1.21$1.4248.11%$90.00—$3.65$3.90195
1015,652$0.90$1.1147.74%$91.00—$4.35$4.65771
3,68565$0.67$0.7646.36%$92.00—$4.65$5.65815
30434$0.42$0.6546.51%$93.00—$5.35$6.65012
8755$0.35$0.4647.04%$94.00—$6.20$8.40150
17588$0.25$0.3447.16%$95.00—$7.10$8.4522
14286$0.14$0.2345.77%$96.00—————
—————$97.00—$8.70$11.30025

Forward $87.50. The 25-delta put carries +2.06 volatility points over the 25-delta call.

2026-11-20(14 days)ATM 46.42%±7.96skew +3.64
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
3353$11.25$12.55—$76.00—————
1127$9.40$11.75—$77.00—————
3478$10.40$11.45—$77.5052.02%$0.38$0.563,10943
0150$8.45$10.75—$78.0052.43%$0.42$0.68466117
5282$7.60$9.80—$79.00—————
322,849$7.95$8.90—$80.0049.86%$0.70$0.861,84091
0153$6.95$8.10—$81.0049.70%$0.85$1.1139364
3185$6.45$6.95—$82.0049.89%$1.02$1.4516413
186,557$6.05$6.65—$82.5048.28%$1.13$1.441,28413
20434$5.90$6.25—$83.0047.92%$1.28$1.542153
9283$5.10$5.40—$84.0047.64%$1.57$1.861524
24512,746$4.50$4.75—$85.0047.36%$1.95$2.182,563189
15113$3.90$4.30—$86.0047.66%$2.26$2.7433821
53308$3.30$3.80—$87.0048.54%$2.70$3.35322
621,867$3.05$3.40—$87.5046.69%$3.05$3.259485
141,102$2.74$3.2046.41%$88.00—$2.90$3.70240
39860$2.33$2.7546.49%$89.00—$3.70$4.20570
8517,870$2.01$2.1845.63%$90.00—$4.35$4.8053211
331,312$1.14$1.4044.64%$92.50—$6.05$6.4510
558,870$0.67$0.8044.20%$95.00—————
202$0.39$0.5544.35%$97.00—————

Forward $87.58. The 25-delta put carries +3.64 volatility points over the 25-delta call.

2026-11-27(21 days)ATM 44.80%±9.42skew +5.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$16.05$18.55—$70.00—————
01$11.85$13.95—$75.00—————
03$10.90$12.80—$76.00—————
09$9.65$12.15—$77.00—————
018$9.45$11.00—$78.00—————
119$9.00$10.15—$79.0047.64%$0.73$1.15576
10129$8.60$9.15—$80.0048.53%$1.07$1.34614
138$7.75$8.40—$81.0048.51%$1.11$1.80600
133$6.40$7.75—$82.0047.04%$1.44$1.844220
1055$6.25$6.80—$83.0047.65%$1.60$2.40460
125$5.15$6.30—$84.0046.44%$2.06$2.47531
293$5.10$5.45—$85.0046.79%$2.45$2.92255
1653$4.05$4.85—$86.0045.57%$2.79$3.2598
2881$3.80$4.30—$87.0045.65%$3.05$3.951700
40150$3.30$3.8544.87%$88.00—$3.70$4.201497
28161$2.90$3.3044.46%$89.00—$4.10$4.8557
62,106$2.27$2.8642.80%$90.00—$4.35$5.30200
9185$2.08$2.4643.58%$91.00—$5.35$5.90590
569$1.75$2.1043.25%$92.00—$5.60$7.2011
013$1.39$1.8042.60%$93.00—$6.75$7.251100
351$0.93$1.2541.89%$95.00—————

Forward $87.62. The 25-delta put carries +5.15 volatility points over the 25-delta call.

2026-12-04(28 days)ATM 44.40%±10.77skew +4.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$10.85$13.30—$76.00—————
04$10.00$12.25—$77.0048.01%$0.83$1.083310
01$9.20$11.40—$78.0047.20%$0.98$1.2284
02$8.45$10.90—$79.00—————
330$8.55$10.05—$80.0046.77%$1.36$1.71411
012$6.90$9.00—$81.0047.13%$1.51$2.171121
034$7.45$8.15—$82.0046.08%$1.93$2.20411
014$6.85$7.65—$83.0047.18%$2.08$2.9230
010$5.90$6.85—$84.0045.79%$2.55$2.96122
34211$5.55$6.15—$85.0045.89%$3.00$3.35130
920$4.90$5.45—$86.0044.17%$2.97$3.9520
6422$4.45$4.80—$87.0044.79%$3.70$4.302510
2115$3.70$4.5544.57%$88.00—————
25$3.35$3.9043.97%$89.00—$4.45$5.7510
323$3.05$3.4544.29%$90.00—————
166$2.69$3.0544.21%$91.00—————
026$2.21$2.7943.86%$92.00—————
44$1.99$2.4043.86%$93.00—————
17167$1.31$1.8142.45%$95.00—————
01$0.98$1.4042.92%$97.00—————
23$0.56$0.8041.75%$100.00—————

Forward $87.63. The 25-delta put carries +4.68 volatility points over the 25-delta call.

2026-12-11(35 days)ATM 42.31%±11.45skew +1.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$78.0046.81%$1.22$1.725015
01$8.75$11.05—$79.00—————
02$8.00$10.25—$80.00—————
02$7.65$9.50—$81.0045.36%$1.83$2.5360
18$6.60$7.50—$84.00—————
127$5.90$6.70—$85.00—————
725$5.10$6.10—$86.0043.03%$3.50$4.3505
12$4.75$5.50—$87.0043.32%$3.95$4.9515
13$3.40$5.1042.13%$88.00—$4.40$5.3060
021$3.75$4.5045.01%$89.00—————
41$3.15$4.0543.87%$90.00—————
09$2.56$3.3044.29%$92.00—————
01$2.17$2.9143.52%$93.00—————
11$1.36$2.1943.64%$96.00—————
190$1.23$1.7142.51%$97.00—————

Forward $87.40. The 25-delta put carries +1.73 volatility points over the 25-delta call.

2026-12-18(42 days)ATM 42.41%±12.65skew +4.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0568$33.55$36.15—$52.50—————
0645$32.20$33.70—$55.00—————
0188$29.45$31.20—$57.50—————
6644$27.10$28.60—$60.0058.61%$0.12$0.181,55517
0428$23.95$26.20—$62.5056.16%$0.17$0.241,587117
7390$22.75$23.85—$65.0054.00%$0.25$0.321,47724
71,283$20.45$21.35—$67.5052.51%$0.35$0.482,5592
20954$17.10$19.30—$70.0049.91%$0.49$0.602,00667
0808$15.25$16.80—$72.5048.66%$0.73$0.848,55958
43,525$13.80$14.25—$75.0047.52%$1.04$1.193,952178
0756$11.00$12.45—$77.5046.57%$1.45$1.681,63078
1122,921$9.60$10.50—$80.0045.46%$2.00$2.262,293530
241,701$8.05$8.65—$82.5044.34%$2.75$2.931,617649
815,148$6.50$6.70—$85.0043.53%$3.65$3.85728125
21961,372$5.20$5.35—$87.5042.98%$4.75$5.0041556
1913,408$3.95$4.1541.98%$90.00—$6.15$6.307723
40757$3.05$3.1541.71%$92.50—$7.60$7.852210
228221,261$2.23$2.3441.06%$95.00—$9.05$10.456610
290544$1.54$1.8240.86%$97.50—$10.80$13.002225
1203,178$1.17$1.2940.90%$100.00—$12.80$15.101000
70159,447$0.60$0.7041.29%$105.00—————

Forward $87.90. The 25-delta put carries +4.60 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 42.61%±16.45skew +5.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0488$31.90$34.10—$55.00—————
0623$29.05$31.45—$57.50—————
03,808$27.25$29.30—$60.0053.72%$0.30$0.424,61585
0460$25.05$26.75—$62.5052.21%$0.39$0.582,2234
5687$22.85$24.35—$65.0052.04%$0.57$0.862,4290
0603$20.05$22.20—$67.5050.12%$0.78$1.031,1304
402,024$18.90$20.10—$70.0048.95%$1.13$1.263,1013
5897$16.40$17.90—$72.5047.04%$1.37$1.612,47624
35,917$14.75$15.90—$75.0046.73%$1.89$2.135,28567
0591$12.35$13.85—$77.5046.01%$2.45$2.753,0652
172,361$10.90$11.85—$80.0044.65%$3.10$3.354,20513
132,064$9.15$10.30—$82.5044.08%$3.95$4.2076925
12611,860$8.00$8.40—$85.0043.25%$4.90$5.154,7544
66984$6.60$7.15—$87.5042.96%$6.05$6.353022
787,224$5.45$5.9542.56%$90.00—$7.35$7.703171
3621,532$4.50$4.8542.20%$92.50—$8.80$9.0533541
173,446$3.60$3.8541.40%$95.00—$10.15$10.901770
69844$2.82$3.1040.95%$97.50—————
713,713$2.33$2.4140.90%$100.00—$13.50$15.554550
81,407$1.40$1.5840.89%$105.00—————
191,325$0.81$0.9640.56%$110.00—————

Forward $88.18. The 25-delta put carries +5.11 volatility points over the 25-delta call.

2027-03-19(133 days)ATM 41.30%±22.09skew +4.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
053$30.15$32.15—$57.5050.46%$0.61$0.884404
0409$27.45$29.80—$60.0049.24%$0.77$1.117980
060$25.25$27.60—$62.5047.33%$0.97$1.261,7851
0804$23.10$25.40—$65.0047.48%$1.28$1.751,4100
070$21.75$23.30—$67.5046.06%$1.63$2.025378
5266$19.05$21.55—$70.0045.27%$2.04$2.497700
0728$17.15$19.35—$72.5046.03%$2.75$3.257570
0575$15.30$17.60—$75.0044.99%$3.20$3.951,5000
0254$13.60$15.70—$77.5044.36%$3.90$4.705540
1782$12.20$14.05—$80.0044.17%$4.75$5.651,2043
40313$11.20$12.50—$82.5043.43%$5.65$6.555761
44678$9.95$11.00—$85.0042.95%$6.70$7.603190
2793$9.10$9.60—$87.5042.19%$8.05$8.451406
581,156$7.85$8.5041.84%$90.00—$9.05$10.153281
1401,123$6.65$7.3040.87%$92.50—$10.40$11.851280
2685$5.70$6.2540.35%$95.00—$11.95$13.054710
100362$4.75$5.5040.08%$97.50—$13.45$14.75780
11,106$3.95$4.7539.70%$100.00—$15.30$16.401020
1568$2.87$3.5039.63%$105.00—$19.10$20.1090
4288$2.07$2.5139.49%$110.00—————
0224$1.23$1.8038.52%$115.00—$27.30$29.6010

Forward $88.62. The 25-delta put carries +4.73 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.