Options Skew Analytics

EME option chain

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

Data as of 6 November 2026 (end of day)

2026-12-18(42 days)ATM 46.54%±96.28skew +5.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$104.80$112.10—$510.00—————
02$96.40$102.40—$520.00—————
01$88.30$95.00—$530.00—————
01$80.40$87.70—$540.0051.24%$11.60$16.70550
03$72.30$79.70—$550.0049.37%$13.10$18.50100
01$65.10$72.50—$560.0049.59%$15.40$22.8080
027$59.60$64.40—$570.0049.06%$20.10$24.4090
9297$53.00$58.80—$580.0049.43%$23.90$29.00250
25105$45.60$52.90—$590.0048.45%$27.50$32.5051
0334$40.70$47.40—$600.0047.33%$31.10$36.50261
02$36.20$41.3047.27%$610.00—$35.70$42.00410
1252$30.70$36.2046.24%$620.00—$41.20$47.00690
02$25.80$31.3045.21%$630.00—$46.20$52.00260
05$21.70$29.7046.21%$640.00—$51.20$58.00400
04$18.10$24.2044.61%$650.00—$58.30$65.00501
0289$15.10$20.0043.67%$660.00—$65.20$72.00290
029$12.40$18.0043.95%$670.00—$72.40$79.00180
07$9.60$16.0043.71%$680.00—$79.90$86.00160
—————$690.00—$87.50$94.00360
—————$700.00—$96.70$102.00292
—————$710.00—$105.20$111.0090

Forward $609.90. The 25-delta put carries +5.66 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 44.40%±118.97skew +5.50
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
2022$163.00$169.60—$450.00—————
01$144.50$152.40—$470.00—————
026$136.00$143.20—$480.00—————
01$119.00$127.70—$500.00—————
049$103.20$110.30—$520.0047.65%$11.00$18.00570
040$88.00$94.90—$540.0047.17%$17.00$22.3030
—————$560.0046.36%$22.80$28.50340
11$61.00$68.10—$580.0046.17%$30.80$36.10410
546$50.00$57.20—$600.0045.27%$39.10$44.501262
03$40.30$46.7044.48%$620.00—$49.10$54.00670
056$31.70$38.4044.04%$640.00—$59.40$65.901090
051$23.40$29.5042.24%$660.00—$71.00$77.90260
022$18.20$25.8043.41%$680.00—$85.30$93.00210
021$12.70$19.0041.67%$700.00—$101.60$108.00800
024$9.00$15.0041.38%$720.00—$117.90$124.0080
—————$740.00—$135.20$141.00200
—————$760.00—$152.20$159.00220
—————$780.00—$171.40$177.00321
—————$790.00—$179.90$187.0090
—————$800.00—$189.40$196.00130
—————$820.00—$208.70$216.00360

Forward $611.89. The 25-delta put carries +5.50 volatility points over the 25-delta call.

2027-04-16(161 days)ATM 44.94%±184.63skew +5.97
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$470.0048.08%$14.60$21.60100
01$156.20$163.00—$480.0048.64%$17.80$24.5050
048$148.60$155.00—$490.00—————
07$141.50$148.00—$500.0047.37%$23.70$27.0020
0103$126.60$133.90—$520.0048.08%$30.00$35.2010
—————$540.0047.06%$36.00$41.1040
05$100.70$108.50—$560.0046.88%$43.80$49.0010
—————$580.0046.63%$52.10$57.9020
03$78.20$85.00—$600.0045.84%$61.20$66.00702
01$69.10$75.7045.53%$620.00—$71.30$76.20551
02$51.10$59.5044.58%$660.00—$92.90$99.90220
02$43.30$51.8043.88%$680.00—$105.80$112.40210
014$40.20$48.4043.75%$690.00—$112.20$119.00150
012$37.00$44.5043.31%$700.00—$119.00$125.90380
01$34.00$42.2043.34%$710.00—$126.00$132.90520
06$31.00$38.4042.77%$720.00—$133.20$140.0050
02$28.90$36.7043.09%$730.00—————
018$26.40$32.0042.14%$740.00—$149.10$154.4010
3326$24.50$29.5042.04%$750.00—————
07$21.30$28.6041.95%$760.00—$164.30$170.3010
01$19.30$27.4042.11%$770.00—$172.50$178.5030

Forward $618.62. The 25-delta put carries +5.97 volatility points over the 25-delta call.

2027-05-21(196 days)ATM 45.25%±205.85skew +5.80
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$500.0048.87%$29.00$35.8020
01$135.20$141.60—$520.00—————
01$116.30$123.40—$550.0047.59%$46.40$52.2010
—————$560.0047.49%$50.40$56.50120
05$104.60$112.60—$570.0047.36%$54.80$60.7070
01$99.00$105.30—$580.00—————
01$93.60$101.20—$590.0046.88%$63.10$70.0010
02$88.40$94.80—$600.0046.84%$68.70$74.40100
20$84.10$89.60—$610.0046.54%$73.60$79.0002
01$73.80$82.0046.27%$630.00—————
—————$640.00—$90.00$95.30640
—————$650.00—$93.40$101.5030
—————$670.00—$106.90$113.10300
012$53.50$59.9044.57%$680.00—$112.40$119.7020
01$50.10$58.1044.88%$690.00—————
02$46.50$53.1044.12%$700.00—$125.30$132.7020
01$43.50$51.4044.40%$710.00—$132.50$139.4020
02$40.30$46.6043.63%$720.00—$140.20$146.6020
20$38.70$44.2043.95%$730.00—$148.00$152.8050
01$32.90$40.6043.95%$750.00—$161.80$168.5010
010$30.00$36.4043.07%$760.00—————

Forward $620.79. The 25-delta put carries +5.80 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.