Options Skew Analytics

ET option chain

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

Data as of 9 November 2026 (end of day)

2026-11-27(18 days)ATM 22.45%±0.95skew +1.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$2.02$2.24—$17.0033.66%$0.01$0.0679
1000$1.06$1.28—$18.00—————
—————$18.5022.44%$0.12$0.186836
3079$0.38$0.47—$19.0022.47%$0.29$0.3832817
5318$0.16$0.2622.28%$19.50—$0.55$0.671147
185427$0.06$0.1021.38%$20.00—$0.90$1.07845
22465$0.03$0.0422.63%$20.50—$1.24$1.72470
11,046$0.01$0.0325.14%$21.00—$1.79$2.15158
—————$30.00—$10.65$11.25—0

Forward $19.09. The 25-delta put carries +1.06 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 21.59%±1.35skew +2.85
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$15.70$16.40—$3.00—————
02$10.55$13.10—$8.00—————
90168$4.05$4.30—$15.00—————
—————$16.0032.71%$0.01$0.06999
1118$2.09$2.42—$17.0027.67%$0.05$0.095,4363
1488$1.24$1.49—$18.0023.46%$0.15$0.181,28811
3431,258$0.57$0.69—$19.0021.94%$0.44$0.498,72740
3688,383$0.20$0.2220.61%$20.00—$1.03$1.131,49014
2349,542$0.07$0.0822.46%$21.00—$1.76$2.163761
17923,920$0.02$0.0424.77%$22.00—$2.41$3.301140
114,665$0.01$0.0429.97%$23.00—$3.35$4.4510
—————$24.00—$4.45$5.4501

Forward $19.17. The 25-delta put carries +2.85 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 21.54%±1.78skew +1.92
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$15.35$18.10—$3.00—————
0171$8.80$10.50—$10.00—————
11,391$5.95$6.55—$13.00—————
03$4.95$5.40—$14.00—————
267,864$4.15$4.30—$15.00—————
0125$3.05$3.40—$16.00—————
618,072$2.30$2.45—$17.0025.46%$0.11$0.1413,379219
0672$1.42$1.63—$18.0022.80%$0.24$0.294,796635
1122,030$0.78$0.88—$19.0021.70%$0.54$0.6418,99882
1,51383,184$0.37$0.4221.30%$20.00—$1.08$1.238,65014
42765,319$0.14$0.1720.88%$21.00—$1.83$2.161,93510
1,07372,810$0.07$0.0822.59%$22.00—$2.75$3.251,3600
4330,967$0.04$0.0525.07%$23.00—$3.40$4.5010
050,141$0.02$0.0532.47%$25.00—$5.25$6.5052
—————$30.00—$10.40$11.5007

Forward $19.24. The 25-delta put carries +1.92 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 21.49%±2.46skew +2.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$4.05$4.55—$15.00—————
09$3.15$3.55—$16.00—————
0317$2.29$2.64—$17.0024.44%$0.24$0.3629122
111,955$1.53$1.86—$18.0023.22%$0.46$0.621,0869
72422$0.99$1.12—$19.0021.75%$0.77$1.021,78612
512,543$0.56$0.6621.07%$20.00—$1.43$1.662,0280
1095,412$0.29$0.3520.57%$21.00—$2.03$2.5537754
8778,750$0.15$0.2021.07%$22.00—$2.90$3.50210
—————$23.00—$3.70$4.45110

Forward $19.16. The 25-delta put carries +2.66 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 22.95%±3.38skew +2.03
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
15104$4.10$4.45—$15.0026.21%$0.16$0.251420
2975$2.50$2.75—$17.0023.37%$0.46$0.6049210
—————$18.0022.20%$0.69$0.951220
1511$1.13$1.5023.19%$19.00—————
1,5737,550$0.79$0.9021.85%$20.00—$1.58$2.113,6288
51,737$0.47$0.6221.60%$21.00—$2.05$2.811,5310
603,158$0.27$0.4021.34%$22.00—$3.00$3.70730
—————$23.00—$4.05$4.5060
12805$0.07$0.1222.74%$25.00—$5.75$6.5020

Forward $18.97. The 25-delta put carries +2.03 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.