Options Skew Analytics

DLR 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 28.65%±8.87skew +2.65
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$60.20$62.30—$125.00—————
—————$177.5032.92%$0.70$1.1050
215$6.60$8.90—$180.0031.24%$1.05$1.5017748
036$5.00$7.20—$182.50—————
0664$3.70$4.90—$185.0029.56%$2.50$2.9544110
0101$2.95$3.6028.59%$187.50—$3.50$4.1010
2202$1.90$2.5528.41%$190.00—$5.00$7.1050
19$1.25$1.7028.59%$192.50—$6.80$8.90100
2201$0.80$1.1529.16%$195.00—$8.40$10.4042
011$0.50$0.8030.00%$197.50—————
—————$200.00—$12.70$15.0032
—————$205.00—$17.10$20.1010

Forward $186.97. The 25-delta put carries +2.65 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 28.55%±13.69skew +2.50
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$25.30$28.20—$160.00—————
012$16.00$19.30—$170.0033.28%$0.75$1.251423
—————$172.5032.18%$1.00$1.5501
07$11.80$14.30—$175.0031.49%$1.40$1.951543
—————$177.5030.61%$1.85$2.4530
021$8.00$10.20—$180.0029.33%$2.25$3.101970
—————$182.5029.04%$3.10$3.9020
7275$6.00$7.00—$185.0028.53%$4.10$4.80430
4177$3.60$4.7028.57%$190.00—$6.60$8.804940
04$2.70$3.7028.38%$192.50—————
0352$2.00$2.7027.79%$195.00—$9.80$12.40240
010$1.45$2.1528.11%$197.50—————
5644$1.15$1.6028.50%$200.00—$13.60$16.20180
—————$210.00—$22.60$25.5050

Forward $187.06. The 25-delta put carries +2.50 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 31.61%±23.82skew +0.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$155.0039.02%$1.10$1.80752
—————$160.0036.33%$1.45$2.1030
—————$165.0035.62%$2.25$2.8520
01$19.20$22.00—$170.00—————
—————$175.0033.27%$4.30$5.00100
012$9.80$11.40—$185.0031.44%$7.70$8.60100
21$7.50$9.1031.63%$190.00—————
016$5.30$6.8030.60%$195.00—————
1328$4.00$5.3031.20%$200.00—————
9146$2.60$2.9032.57%$210.00—————

Forward $187.47. The 25-delta put carries +0.70 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 31.35%±28.77skew +2.37
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$105.30$109.20—$80.00—————
020$85.60$89.50—$100.00—————
06$52.40$54.60—$135.00—————
031$47.60$50.20—$140.00—————
012$42.20$45.40—$145.00—————
014$37.40$40.70—$150.00—————
02$33.50$35.90—$155.0036.73%$1.85$2.50530
011$28.50$31.70—$160.0035.16%$2.50$3.0010,8980
02$24.30$27.10—$165.0034.75%$3.30$4.20820
024$20.60$23.10—$170.0033.29%$4.10$5.301,8301
080$16.90$19.50—$175.0033.23%$5.80$6.80723
019$13.70$16.20—$180.0032.51%$7.50$8.50395
073$11.40$13.30—$185.0031.77%$9.40$10.60320
320$10.10$10.8031.37%$190.00—$11.80$13.10200
086$8.00$8.5030.87%$195.00—$14.50$17.1060
21243$5.80$6.8030.14%$200.00—$18.10$20.3060
297$3.80$4.2030.92%$210.00—————
467$2.05$2.4530.55%$220.00—————

Forward $187.98. The 25-delta put carries +2.37 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 30.19%±31.82skew +2.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$76.10$80.00—$110.00—————
01$71.10$74.90—$115.00—————
02$66.30$68.90—$120.00—————
06$56.90$59.50—$130.00—————
013$51.70$55.10—$135.00—————
058$47.70$50.30—$140.00—————
07$42.60$45.80—$145.00—————
041$38.50$40.80—$150.00—————
068$33.80$36.60—$155.0034.36%$2.15$3.302960
0112$29.50$31.90—$160.0033.52%$2.85$4.201,5150
022$25.40$28.00—$165.0032.83%$3.90$5.20970
025$21.80$24.40—$170.0032.16%$5.10$6.503331
171$18.00$20.50—$175.0031.38%$6.50$8.003990
083$15.30$17.50—$180.0030.83%$8.30$9.801020
071$12.50$15.30—$185.0030.56%$10.50$12.00940
3733$11.00$12.1030.27%$190.00—$13.10$14.40600
071$7.90$9.9028.73%$195.00—$15.70$18.10710
11,101$7.20$7.9029.64%$200.00—$18.90$21.20400
0395$4.40$5.3029.58%$210.00—$26.20$28.70210
0732$2.80$3.3029.69%$220.00—$34.10$37.00220
0119$1.55$2.2529.93%$230.00—$42.80$45.60210

Forward $187.77. The 25-delta put carries +2.58 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 29.87%±39.26skew +3.36
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$49.10$52.30—$140.00—————
01$40.00$43.60—$150.00—————
—————$155.0033.82%$3.70$5.4070
01$32.00$35.70—$160.0033.46%$4.90$6.501,0010
01$28.40$30.90—$165.0032.62%$5.90$7.8010
02$24.60$27.70—$170.0032.18%$7.40$9.3042
022$21.50$23.90—$175.0031.71%$9.10$11.0020
04$18.90$21.50—$180.0030.79%$10.60$12.9010
09$15.70$18.60—$185.0030.44%$12.80$15.10170
018$13.50$15.8030.11%$190.00—$15.20$17.60110
022$11.20$13.6029.69%$195.00—$18.00$20.3020
1252$9.80$11.6029.90%$200.00—$21.20$23.80520
039$6.20$8.2028.79%$210.00—————
019$4.10$6.3029.26%$220.00—$35.80$38.90160
08$2.70$4.2028.87%$230.00—$43.50$47.3010

Forward $188.21. The 25-delta put carries +3.36 volatility points over the 25-delta call.

2027-06-17(268 days)ATM 30.73%±49.70skew +2.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$86.40$89.40—$100.00—————
01$77.10$80.30—$110.00—————
01$59.20$61.80—$130.00—————
01$42.70$45.40—$150.0034.28%$5.00$6.80112
—————$160.0033.64%$7.00$10.009500
033$32.10$34.50—$165.00—————
029$28.40$31.40—$170.0031.60%$9.60$12.4010
033$25.90$28.10—$175.0031.09%$11.30$14.2010
017$22.80$25.40—$180.0031.28%$13.90$16.3090
22$20.00$22.90—$185.0031.06%$16.30$18.5010
02$17.40$19.8030.69%$190.00—$18.60$21.00250
054$15.10$18.1030.73%$195.00—$21.50$23.60120
014$13.10$16.1030.48%$200.00—$23.50$27.30750
025$9.60$12.5029.86%$210.00—————
037$7.00$9.7029.58%$220.00—————
03$6.20$7.6030.66%$230.00—————
02$4.50$5.9030.50%$240.00—————

Forward $188.76. The 25-delta put carries +2.98 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.