Options Skew Analytics

EME option chain

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

Data as of 22 September 2026 (end of day)

2026-12-18(87 days)ATM 41.35%±153.98skew +2.22
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$126.70$135.00—$650.0043.06%$14.60$23.00340
0401$119.40$128.00—$660.0042.82%$17.40$25.00310
01$111.90$119.90—$670.0043.11%$20.80$28.0040
02$105.20$114.00—$680.0042.53%$22.70$31.0030
01$98.10$107.00—$690.0042.36%$26.00$34.00210
021$91.70$100.50—$700.0042.46%$29.50$38.00180
08$85.50$93.60—$710.0042.15%$33.40$41.00120
012$79.00$88.00—$720.0043.19%$39.90$45.6090
010$74.40$83.00—$730.0041.96%$41.90$49.00640
073$69.00$77.00—$740.0041.72%$46.40$53.10610
013$63.90$72.00—$750.0042.07%$51.30$59.00290
05$58.90$67.00—$760.0042.00%$56.40$64.0040
06$54.10$61.4041.51%$770.00—$61.70$69.0020
02$49.60$56.9041.34%$780.00—$67.20$75.0040
06$45.30$54.0041.61%$790.00—$73.30$80.0010
038$41.20$49.0041.08%$800.00—$79.00$86.00250
024$38.40$44.3040.92%$810.00—$85.30$93.0020
016$33.90$41.9040.81%$820.00—$90.90$99.2020
014$27.20$36.0040.56%$840.00—$104.30$113.00200
021$23.30$28.7040.20%$860.00—$119.00$128.0020
017$17.80$25.7040.31%$880.00—$135.00$142.6030

Forward $762.78. The 25-delta put carries +2.22 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 40.15%±172.54skew +3.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$158.30$165.00—$620.0042.65%$13.50$20.20120
—————$640.0042.51%$18.00$25.0030
020$127.40$135.00—$660.0041.93%$22.80$30.0090
019$112.90$121.00—$680.0041.83%$29.40$36.00100
011$100.10$108.00—$700.0041.46%$36.00$43.00280
021$88.00$95.80—$720.0041.24%$43.80$51.0080
019$76.90$85.00—$740.0041.11%$52.70$60.00100
010$67.20$75.00—$760.0040.61%$62.00$69.20170
03$58.00$66.0040.42%$780.00—$72.70$80.60370
07$53.30$61.0039.96%$790.00—$78.20$86.00100
016$49.60$57.0039.95%$800.00—$84.60$92.00130
06$45.20$53.0039.62%$810.00—————
034$41.90$50.0039.78%$820.00—$96.80$104.00290
06$38.20$46.0039.41%$830.00—$103.20$111.0040
05$35.20$43.0039.43%$840.00—$109.70$118.0080
05$31.90$40.0039.24%$850.00—$116.70$125.0040
06$28.90$36.9039.00%$860.00—$124.20$132.0020
01$26.50$34.0038.89%$870.00—————
03$23.90$31.0038.56%$880.00—————
06$22.10$28.5038.57%$890.00—————
0172$20.00$27.0038.72%$900.00—$154.30$163.00900

Forward $765.57. The 25-delta put carries +3.11 volatility points over the 25-delta call.

2027-04-16(206 days)ATM 40.76%±236.88
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$660.0041.80%$39.30$46.10210
02$138.80$146.00—$680.0041.36%$45.90$52.70130
014$132.70$140.50—$690.0041.58%$50.60$56.80150
07$126.70$134.80—$700.0041.32%$53.80$60.9060
—————$710.0041.29%$59.10$64.1010
06$116.60$121.20—$720.00—————
04$110.20$118.00—$730.00—————
014$105.20$113.00—$740.0041.19%$71.80$79.0010
04$100.30$107.50—$750.00—————
01$95.50$102.50—$760.0041.12%$81.90$89.0010
04$90.60$98.20—$770.0041.20%$87.90$94.0010
06$84.00$89.0041.40%$790.00—$98.40$105.0010
05$77.80$85.0040.89%$800.00—————
04$73.70$81.0040.77%$810.00—————
02$69.70$76.9040.59%$820.00—————
03$65.90$72.7040.37%$830.00—————
07$62.20$69.3040.28%$840.00—$129.00$136.0010
05$58.60$66.0040.17%$850.00—————
01$55.40$62.0039.94%$860.00—————
—————$870.00—$148.90$156.0050
06$48.80$56.3039.75%$880.00—————

Forward $773.53. Not enough surviving quotes on both wings to measure the skew here.

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.