Options Skew Analytics

DVN 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 40.44%±2.37skew -1.96
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$2.61$3.40—$39.5042.14%$0.11$0.17—8
01$2.31$2.97—$40.0041.10%$0.18$0.221730
02$1.79$2.33—$40.5040.26%$0.27$0.3010
—————$41.0038.74%$0.34$0.438026
30$1.33$1.48—$41.5039.94%$0.55$0.60088
122$1.04$1.14—$42.0040.25%$0.75$0.8314730
470$0.81$0.9040.46%$42.50—$1.00$1.09024
7515$0.60$0.6940.36%$43.00—$1.31$1.4630717
10620$0.44$0.5240.52%$43.50—$1.65$1.791011
9389$0.32$0.3840.69%$44.00—$2.04$2.155024
4022$0.24$0.2841.48%$44.50—$2.10$2.66516
348291$0.16$0.2141.76%$45.00—$2.48$2.985682
—————$45.50—$2.84$3.6010
—————$46.00—$3.45$4.1014713
—————$46.50—$3.60$4.55420
—————$47.00—$4.45$5.0527210
—————$47.50—$4.95$5.451706
11550$0.01$0.0445.82%$48.00—$5.45$5.85351196
—————$48.50—$5.55$6.40800
—————$49.00—$6.40$6.955711
—————$49.50—$6.75$7.45281

Forward $42.31. The 25-delta put carries -1.96 volatility points over the 25-delta call.

2026-11-20(14 days)ATM 40.46%±3.36skew +1.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
101$7.05$7.55—$35.00—————
031$4.80$5.50—$37.50—————
—————$38.0044.78%$0.15$0.21214
—————$39.0041.33%$0.23$0.294324
546$2.73$2.89—$40.0041.37%$0.42$0.511,577366
11$2.00$2.20—$41.0040.30%$0.68$0.7916915
52$1.42$1.63—$42.0040.15%$1.08$1.2028277
122335$1.18$1.3840.46%$42.50—$1.34$1.461,551224
20540$0.97$1.1640.61%$43.00—$1.62$1.7867236
240229$0.61$0.7539.66%$44.00—$2.30$2.502334
—————$44.50—$2.67$2.861200
5,5801,694$0.39$0.5040.36%$45.00—$2.83$3.252,99837
5733$0.28$0.3839.53%$45.50—$3.00$3.65760
187148$0.24$0.3140.59%$46.00—$3.65$4.1576510
521$0.19$0.2541.08%$46.50—$3.90$4.65572
—————$47.00—$4.30$5.10973
2,7226,594$0.10$0.1540.92%$47.50—$5.25$5.406,83021
—————$48.00—$5.20$6.10968
—————$48.50—$5.55$6.50460
8262$0.06$0.1245.72%$49.00—$6.05$6.955410
—————$49.50—$6.50$7.45821

Forward $42.38. The 25-delta put carries +1.00 volatility points over the 25-delta call.

2026-11-27(21 days)ATM 36.80%±3.74skew +0.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
40$6.30$6.75—$36.00—————
60$4.40$5.05—$38.00—————
—————$39.0037.76%$0.33$0.386723
—————$40.0037.08%$0.53$0.6040730
—————$41.0036.83%$0.83$0.92200
211$1.62$1.74—$42.0036.67%$1.25$1.331218
139$1.16$1.2836.92%$43.00—$1.78$1.93551
1490$0.80$0.9137.00%$44.00—$2.43$2.58361
9138$0.54$0.6237.06%$45.00—$3.15$3.401751
25268$0.36$0.4137.26%$46.00—$3.55$4.209424
155176$0.24$0.2837.96%$47.00—$4.60$5.20633
44184$0.15$0.2339.54%$48.00—$5.55$6.0018197
—————$49.00—$6.50$6.9517062
—————$50.00—$7.05$7.95667
—————$51.00—$8.00$9.00120
—————$52.00—$9.00$10.401820

Forward $42.39. The 25-delta put carries +0.02 volatility points over the 25-delta call.

2026-12-04(28 days)ATM 37.92%±4.45skew -0.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
30$7.25$8.10—$35.00—————
—————$38.0040.43%$0.30$0.48115
61$3.75$4.25—$39.0038.17%$0.49$0.56111
832$3.10$3.45—$40.0037.56%$0.72$0.821003
2002$2.42$2.86—$41.0037.59%$1.03$1.212424
10$1.90$2.04—$42.0038.06%$1.46$1.709450
217$1.44$1.5437.80%$43.00—$1.98$2.134413
333$1.04$1.1537.50%$44.00—$2.62$2.76100
1246$0.73$0.8737.65%$45.00—$3.30$3.50223
143$0.52$0.6337.86%$46.00—$3.90$4.35744
393$0.36$0.4237.52%$47.00—$4.65$5.2539434
—————$48.00—$5.60$5.95172210
—————$49.00—$6.25$7.1560
—————$50.00—$7.10$8.201700
—————$51.00—$8.20$9.0028229
—————$52.00—$9.00$10.20120

Forward $42.39. The 25-delta put carries -0.30 volatility points over the 25-delta call.

2026-12-11(35 days)ATM 38.05%±5.00skew +1.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$37.0040.89%$0.27$0.4311
—————$38.0039.12%$0.41$0.53612
—————$39.0039.47%$0.60$0.8222
11$3.25$3.60—$40.0038.21%$0.86$1.0449
—————$41.0038.73%$1.20$1.4843
02$2.06$2.41—$42.0038.33%$1.64$1.89190
22$1.58$1.9137.99%$43.00—$2.16$2.4210
03$1.19$1.5037.90%$44.00—$2.78$2.9560
07$0.89$1.1637.97%$45.00—$3.45$3.7581
028$0.63$0.9238.18%$46.00—$4.05$4.5520
245$0.48$0.7539.33%$47.00—$4.60$5.35161
60$0.35$0.5739.57%$48.00—$5.50$6.209060
118$0.22$0.3337.41%$49.00—$6.40$7.2510
—————$50.00—$7.45$8.10233

Forward $42.47. The 25-delta put carries +1.29 volatility points over the 25-delta call.

2026-12-18(42 days)ATM 37.18%±5.33skew +1.52
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
027$21.85$23.15—$20.00—————
04$19.30$20.65—$22.50—————
07$17.15$18.05—$25.00—————
03$14.65$15.60—$27.50—————
019$12.00$13.15—$30.00—————
027$9.80$10.70—$32.50—————
2100$7.40$8.20—$35.0041.32%$0.17$0.2769098
4179$5.20$5.85—$37.5039.01%$0.49$0.55511522
22437$3.40$3.65—$40.0038.17%$1.15$1.192,853306
466252$1.98$2.0537.21%$42.50—$2.18$2.295,0791,894
3,2855,221$1.04$1.1036.77%$45.00—$3.80$3.902,19943
9303,933$0.50$0.5436.65%$47.50—$5.55$5.901,40412
9315,879$0.24$0.2837.72%$50.00—$7.80$8.151,37395
1143,155$0.13$0.1740.05%$52.50—$9.65$10.6075051
1,51441,956$0.08$0.1243.09%$55.00—$12.00$13.05370
1362,575$0.04$0.0744.28%$57.50—$14.45$15.70510
—————$60.00—$16.90$18.30210
31,247$0.02$0.0756.86%$65.00—————

Forward $42.28. The 25-delta put carries +1.52 volatility points over the 25-delta call.

2026-12-24(48 days)ATM 38.30%±5.87skew +0.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$12.00$14.65—$30.00—————
—————$35.0039.92%$0.21$0.29015
—————$38.0039.79%$0.65$0.8905
05$3.90$4.75—$39.00—————
—————$40.0038.96%$1.19$1.5119
11$2.31$2.66—$42.00—————
30$1.80$2.2038.29%$43.00—$2.58$2.8801
11$1.41$1.8338.44%$44.00—————
93$0.97$1.4336.82%$45.00—$3.75$4.1501
12$0.90$0.9636.76%$46.00—————
51$0.69$0.9639.10%$47.00—————
01$0.39$0.6139.31%$49.00—$6.70$7.3502
—————$60.00—$16.90$18.65—0

Forward $42.27. The 25-delta put carries +0.70 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 35.94%±6.66skew +1.32
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$26.70$28.00—$15.00—————
011$24.20$25.55—$17.50—————
041$22.05$23.05—$20.00—————
047$19.45$20.55—$22.50—————
0109$17.05$18.10—$25.00—————
01,416$14.50$15.65—$27.50—————
0414$12.20$13.20—$30.00—————
0222$9.85$10.75—$32.5038.49%$0.12$0.194,737109
32,769$7.55$8.05—$35.0038.74%$0.36$0.496,54030
281,210$5.50$6.20—$37.5036.98%$0.79$0.893,06268
363,051$3.80$4.20—$40.0036.19%$1.53$1.643,228137
44710,421$2.52$2.6035.97%$42.50—$2.65$2.802,7441,475
18,5128,897$1.57$1.6035.78%$45.00—$4.15$4.353,46420
2242,145$0.91$0.9535.66%$47.50—$6.05$6.255,52073
4017,366$0.52$0.5936.38%$50.00—$8.00$8.401,83742
2595,861$0.30$0.3637.18%$52.50—$9.80$10.654000
10313,892$0.18$0.2137.92%$55.00—$12.10$13.252760
273,051$0.11$0.1639.78%$57.50—$14.50$15.65540
1,03010,173$0.06$0.1140.73%$60.00—$16.90$18.05470
—————$65.00—$21.85$23.00250

Forward $42.33. The 25-delta put carries +1.32 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.