Options Skew Analytics

ETHA option chain

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

Data as of 25 September 2026 (end of day)

2026-10-02(7 days)ATM 39.56%±1.11skew -0.42
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1353$5.25$5.40—$15.00—————
3149$4.75$4.90—$15.50—————
044$4.25$4.40—$16.00—————
1753$3.80$3.90—$16.50—————
0118$3.25$3.40—$17.0065.15%$0.01$0.026,186113
20249$2.80$2.87—$17.5058.85%$0.01$0.032,37550
21524$2.31$2.38—$18.0053.52%$0.02$0.041,844114
64977$1.83$1.90—$18.5046.52%$0.03$0.054,177156
1193,142$1.37$1.43—$19.0042.95%$0.07$0.082,4754,681
1343,342$0.95$1.00—$19.5040.00%$0.14$0.152,3373,350
1,1982,597$0.60$0.64—$20.0039.38%$0.29$0.3020,848997
2,3855,139$0.36$0.3739.68%$20.50—$0.52$0.56186294
7,5104,002$0.19$0.2140.41%$21.00—$0.84$0.9016,164267
5,3413,859$0.10$0.1242.30%$21.50—$1.24$1.3270
6,4984,166$0.06$0.0745.24%$22.00—$1.70$1.78920
463966$0.03$0.0446.91%$22.50—$2.18$2.2580
2343,474$0.02$0.0452.97%$23.00—$2.67$2.74320
13280$0.01$0.0355.94%$23.50—$3.15$3.2510
64,753$0.01$0.0259.66%$24.00—$3.65$3.7590
41,810$0.01$0.0374.88%$25.00—$4.65$4.75220
2508$0.01$0.0386.45%$26.00—$5.65$5.7510

Forward $20.32. The 25-delta put carries -0.42 volatility points over the 25-delta call.

2026-10-09(14 days)ATM 42.95%±1.71skew -0.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
130$5.30$5.40—$15.0079.12%$0.01$0.044,5390
1108$4.80$4.90—$15.5071.73%$0.01$0.047461
3529$4.30$4.40—$16.0064.50%$0.01$0.041571,766
0237$3.80$3.95—$16.5059.29%$0.01$0.05700
080$3.30$3.45—$17.0053.70%$0.03$0.041,61210
016$2.86$2.94—$17.5051.19%$0.04$0.072590
23,656$2.39$2.46—$18.0047.00%$0.07$0.0863117
223202$1.93$2.01—$18.5045.34%$0.12$0.138111,175
5350$1.52$1.58—$19.0043.95%$0.20$0.2167747
179491$1.15$1.21—$19.5043.42%$0.31$0.361,915175
1,5371,775$0.84$0.89—$20.0042.79%$0.50$0.53381557
74150$0.59$0.6342.99%$20.50—$0.74$0.7914126
5472,037$0.41$0.4343.36%$21.00—$1.04$1.1023845
271971$0.27$0.3044.10%$21.50—$1.39$1.47732
87927$0.18$0.2044.89%$22.00—$1.82$1.89510
13115$0.12$0.1446.29%$22.50—$2.24$2.3340
14200$0.08$0.1148.49%$23.00—$2.70$2.8041
1343$0.06$0.0951.41%$23.50—$3.15$3.30110
3347$0.05$0.0653.16%$24.00—$3.65$3.8050
50384$0.03$0.0559.36%$25.00—————
038$0.02$0.0566.67%$26.00—————

Forward $20.34. The 25-delta put carries -0.68 volatility points over the 25-delta call.

2026-10-16(21 days)ATM 44.15%±2.16skew -0.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1411,384$5.35$5.45—$15.0070.15%$0.03$0.059,4159
010$4.85$4.95—$15.5062.21%$0.01$0.0630
9,92618,780$4.35$4.45—$16.0058.75%$0.04$0.057,59765
029$3.85$3.95—$16.5054.66%$0.03$0.0821
25729,584$3.35$3.50—$17.0051.80%$0.07$0.0824,98416
02$2.92$3.05—$17.5049.27%$0.09$0.123217
719,898$2.48$2.55—$18.0047.09%$0.14$0.1612,10241
4914$2.05$2.10—$18.5046.68%$0.21$0.265992
1,1577,062$1.66$1.73—$19.0045.14%$0.32$0.355,2661,293
1328$1.33$1.36—$19.5044.84%$0.46$0.52181371
1,77949,853$1.02$1.07—$20.0044.38%$0.67$0.7025,582527
255292$0.77$0.8244.15%$20.50—$0.90$0.96272211
99020,052$0.59$0.6144.64%$21.00—$1.20$1.2843459
21177$0.43$0.4645.08%$21.50—$1.56$1.61360
2,05039,856$0.32$0.3445.83%$22.00—$1.94$2.002,7280
169615$0.23$0.2546.38%$22.50—$2.33$2.4340
3729,581$0.17$0.1947.54%$23.00—$2.78$2.871110
1153$0.12$0.1548.65%$23.50—$3.25$3.3560
143,643$0.10$0.1150.17%$24.00—$3.70$3.802,73954
8710,870$0.06$0.0753.10%$25.00—$4.65$4.80431
4,17211,885$0.04$0.0657.83%$26.00—$5.65$5.7590

Forward $20.36. The 25-delta put carries -0.70 volatility points over the 25-delta call.

2026-10-23(28 days)ATM 45.73%±2.58skew -0.95
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
015$5.35$5.50—$15.0064.50%$0.04$0.071,9460
—————$15.5059.71%$0.03$0.095251
029$4.35$4.50—$16.0057.38%$0.06$0.107270
014$3.90$4.05—$16.5054.25%$0.07$0.133922
0380$3.45$3.55—$17.0051.09%$0.12$0.133,3498
181$3.00$3.10—$17.5050.01%$0.16$0.202,9362
0103$2.57$2.66—$18.0047.58%$0.23$0.24758240
034$2.16$2.26—$18.5046.63%$0.32$0.3410030
51,286$1.79$1.88—$19.0046.32%$0.43$0.508160
352$1.43$1.53—$19.5046.02%$0.60$0.675115
912,043$1.18$1.24—$20.0045.39%$0.81$0.8638230
10289$0.94$0.9945.73%$20.50—$1.05$1.145620
2351,061$0.73$0.7845.64%$21.00—$1.34$1.40462
1305$0.56$0.6145.75%$21.50—$1.67$1.77740
72,836$0.43$0.4946.52%$22.00—$2.04$2.12280
21515$0.33$0.3947.27%$22.50—$2.44$2.54210
187899$0.27$0.2947.96%$23.00—$2.83$2.9620
160$0.20$0.2348.47%$23.50—$3.30$3.4010
1171,963$0.16$0.2050.28%$24.00—$3.75$3.9030
14,783$0.10$0.1553.31%$25.00—$4.70$4.80290
1051,344$0.06$0.1256.30%$26.00—————

Forward $20.37. The 25-delta put carries -0.95 volatility points over the 25-delta call.

2026-10-30(35 days)ATM 46.92%±2.96skew -0.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
548$5.40$5.50—$15.0059.70%$0.04$0.098852
03$4.90$5.05—$15.5058.29%$0.07$0.11202
012$4.40$4.55—$16.0054.74%$0.09$0.123857
014$3.95$4.10—$16.5051.96%$0.11$0.15491
122219$3.55$3.65—$17.0050.82%$0.17$0.1926062
22214$3.10$3.20—$17.5050.37%$0.24$0.277410
27133$2.68$2.77—$18.0048.62%$0.32$0.3465326
91325$2.30$2.40—$18.5047.99%$0.42$0.471612
1051,609$1.89$2.01—$19.0046.54%$0.54$0.60264296
2572$1.62$1.68—$19.5047.36%$0.73$0.825791
1734,396$1.34$1.39—$20.0046.90%$0.95$1.023231
274698$1.10$1.1446.91%$20.50—$1.19$1.29720
1141,802$0.87$0.9546.93%$21.00—$1.48$1.57320
5889$0.72$0.7847.72%$21.50—$1.81$1.9220
202,594$0.58$0.6247.78%$22.00—$2.17$2.23522257
3209$0.45$0.5047.81%$22.50—$2.51$2.661052
64431$0.37$0.4048.50%$23.00—$2.91$3.1050
251$0.30$0.3349.37%$23.50—$3.35$3.50110
620482$0.24$0.2750.03%$24.00—$3.80$3.9530
7751$0.17$0.1952.35%$25.00—————
169$0.12$0.1555.14%$26.00—————

Forward $20.38. The 25-delta put carries -0.51 volatility points over the 25-delta call.

2026-11-06(42 days)ATM 48.60%±3.36skew -1.43
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$6.40$6.50—$14.0063.85%$0.03$0.09—0
0—$5.85$6.05—$14.50—————
—————$16.0054.45%$0.13$0.1602
10$3.60$3.70—$17.0051.43%$0.23$0.26052
01$3.10$3.30—$17.5049.68%$0.28$0.3440
—————$18.0050.26%$0.40$0.4761
—————$18.5049.52%$0.52$0.6004
—————$19.0048.58%$0.66$0.75058
—————$19.5047.79%$0.84$0.92613
9620$1.46$1.57—$20.0047.81%$1.07$1.140102
6514$1.26$1.3248.45%$20.50—————
29325$1.06$1.1148.74%$21.00—$1.63$1.71035
213$0.87$0.9348.75%$21.50—$1.94$2.040146
2092$0.73$0.7749.12%$22.00—$2.29$2.38220
10$0.60$0.6449.38%$22.50—————
54518$0.49$0.5449.86%$23.00—————
05$0.41$0.4750.95%$23.50—————
117$0.34$0.3951.40%$24.00—————
05$0.27$0.3451.99%$24.50—————
015$0.24$0.2953.20%$25.00—$4.80$4.90130
0—$0.18$0.2255.34%$26.00—$5.75$5.85—0

Forward $20.41. The 25-delta put carries -1.43 volatility points over the 25-delta call.

2026-11-20(56 days)ATM 50.20%±4.02skew -1.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$10.0088.57%$0.01$0.06100
05$9.35$9.50—$11.0081.02%$0.02$0.0720
—————$12.0073.33%$0.03$0.0840
—————$13.0067.44%$0.05$0.10140
123$6.45$6.60—$14.0062.17%$0.08$0.133,9579
165$5.50$5.65—$15.0058.35%$0.14$0.181191
329$4.60$4.75—$16.0055.33%$0.23$0.2716330
489$3.75$3.90—$17.0052.09%$0.37$0.381,80662
5,001890$3.00$3.10—$18.0050.93%$0.59$0.618645,078
211,751$2.33$2.40—$19.0049.99%$0.90$0.935,901369
1,2003,798$1.77$1.83—$20.0050.00%$1.33$1.387909
1431,348$1.32$1.3950.26%$21.00—$1.88$1.951934
1212,581$0.99$1.0350.75%$22.00—$2.53$2.61404116
1372,681$0.73$0.7651.27%$23.00—$3.25$3.401350
292,162$0.54$0.5651.99%$24.00—$4.05$4.20384
15913,350$0.41$0.4453.62%$25.00—$4.90$5.10101116
128,949$0.30$0.3554.87%$26.00—————
50107$0.24$0.2656.07%$27.00—$6.75$6.9050
105,882$0.19$0.2258.04%$28.00—$7.70$7.8510
0543$0.15$0.1959.93%$29.00—$8.65$8.80250
1076,641$0.10$0.1560.07%$30.00—————

Forward $20.45. The 25-delta put carries -1.06 volatility points over the 25-delta call.

2026-12-18(84 days)ATM 51.61%±5.08skew -1.49
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0126$9.20$9.75—$11.0074.29%$0.06$0.1110,50813
30357$8.45$8.65—$12.0067.99%$0.09$0.1211,68873
02,339$7.40$7.70—$13.00—————
14,825$6.45$6.80—$14.0061.78%$0.18$0.285,149162
98,812$5.70$5.80—$15.0056.93%$0.28$0.315,164108
023,612$4.90$5.00—$16.0054.89%$0.43$0.4422,558494
02,493$4.00$4.20—$17.0053.17%$0.62$0.6411,553250
103,879$3.35$3.45—$18.0052.15%$0.89$0.928,417165
3256,572$2.74$2.83—$19.0051.22%$1.23$1.2895047
1,95739,348$2.21$2.26—$20.0051.43%$1.70$1.7525,75083
7126,167$1.77$1.8251.63%$21.00—$2.25$2.302104
87822,600$1.38$1.4551.46%$22.00—$2.86$2.9425563
483,917$1.13$1.1552.33%$23.00—$3.55$3.701,0460
62817,047$0.90$0.9252.92%$24.00—$4.35$4.451530
2,42613,596$0.72$0.7453.64%$25.00—$5.15$5.3064458
64116,672$0.58$0.6054.47%$26.00—$6.00$6.2070
2242,658$0.46$0.4955.15%$27.00—$6.80$7.351000
6115,615$0.39$0.4056.32%$28.00—$7.85$7.95420
6051,623$0.31$0.3457.18%$29.00—$8.75$8.901002
1,71429,842$0.27$0.2858.36%$30.00—$9.70$9.95130
4353$0.22$0.2760.14%$31.00—$10.60$11.00410

Forward $20.52. The 25-delta put carries -1.49 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.