Options Skew Analytics

FANG option chain

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

Data as of 6 November 2026 (end of day)

2026-11-20(14 days)ATM 38.32%±13.47skew +1.64
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$39.50$41.50—$140.00—————
02$34.10$37.10—$145.00—————
02$19.60$21.50—$160.0041.16%$0.40$0.551061
01$15.10$17.40—$165.0040.64%$0.85$1.20780
03$10.70$12.60—$170.0039.23%$1.70$2.1056056
15$7.30$8.30—$175.0038.56%$3.10$3.701864
7062$4.70$5.5038.31%$180.00—$5.40$5.903570
1,105176$2.80$3.3037.80%$185.00—$8.40$9.004225
2598$1.45$1.9537.58%$190.00—$12.20$12.803834
1,141240$0.70$0.9036.39%$195.00—$15.00$17.302516
36785$0.35$0.4536.90%$200.00—$19.50$22.401960
—————$210.00—$29.30$31.60530
—————$220.00—$39.80$41.7020
—————$230.00—$49.20$51.9070

Forward $179.45. The 25-delta put carries +1.64 volatility points over the 25-delta call.

2026-12-18(42 days)ATM 37.07%±22.63skew +1.79
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$93.70$97.30—$85.00—————
03$88.70$92.10—$90.00—————
01$78.70$82.20—$100.00—————
01$49.30$52.10—$130.00—————
03$39.20$42.20—$140.00—————
02$34.40$37.30—$145.00—————
029$29.80$31.90—$150.00—————
09$25.50$27.50—$155.0038.84%$1.15$1.651,0471
095$21.30$24.00—$160.0037.47%$1.65$2.45461
061$17.40$18.70—$165.0037.78%$3.00$3.501502
027$14.00$15.30—$170.0037.35%$4.30$5.102186
040$10.90$12.20—$175.0036.90%$6.00$7.102262
1050$8.30$9.40—$180.00—$8.40$9.302241
16236$6.30$7.4037.14%$185.00—$11.10$12.102990
16328$4.50$5.0035.55%$190.00—$14.40$15.304180
61,325$3.20$3.8035.99%$195.00—$18.20$19.001580
17689$2.15$2.9036.28%$200.00—$20.70$23.901540
23904$1.00$1.2535.67%$210.00—$30.10$32.601620
—————$220.00—$39.20$42.20160
—————$230.00—$49.10$52.0070

Forward $180.00. The 25-delta put carries +1.79 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 35.46%±28.10skew +1.64
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
027$59.00$62.30—$120.00—————
021$54.40$57.40—$125.00—————
019$49.50$52.20—$130.00—————
026$44.80$47.50—$135.00—————
033$40.10$42.30—$140.00—————
047$35.60$38.40—$145.00—————
0148$31.20$33.70—$150.0038.24%$1.45$2.153120
088$27.20$29.30—$155.0037.63%$2.15$2.951860
0148$23.30$25.30—$160.0037.35%$3.30$3.907725
077$19.90$22.00—$165.0036.95%$4.40$5.401920
01,493$16.70$19.10—$170.0036.90%$5.90$7.302841
4772$13.60$16.00—$175.0036.21%$7.80$9.102752
13258$11.00$12.40—$180.0035.90%$10.10$11.404389
5488$8.80$9.8035.32%$185.00—$12.80$14.204400
10556$6.90$8.1035.60%$190.00—$15.30$17.601319
9257$5.20$6.1034.65%$195.00—$18.50$21.20850
1042,156$4.00$5.1035.31%$200.00—$22.90$24.501,0710
2641,190$2.30$2.8534.86%$210.00—$30.90$33.30880
304,519$1.20$1.6034.64%$220.00—$39.60$42.10500
2862$0.70$0.9035.18%$230.00—$49.70$52.00130
—————$240.00—$59.10$62.00100

Forward $180.96. The 25-delta put carries +1.64 volatility points over the 25-delta call.

2027-03-19(133 days)ATM 36.32%±39.78skew +3.21
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$60.20$63.10—$120.00—————
01$42.30$45.20—$140.00—————
03$38.00$41.10—$145.0039.14%$2.70$4.2090
01$34.00$37.20—$150.0038.76%$3.40$5.50310
03$30.80$33.50—$155.0038.73%$5.00$6.50380
05$27.10$29.90—$160.0038.18%$6.20$8.00642
02$23.70$26.50—$165.0037.87%$7.80$9.70440
04$20.70$23.10—$170.0037.36%$9.50$11.602010
010$17.90$20.40—$175.0037.01%$11.60$13.7070
45$15.20$17.60—$180.0036.68%$13.90$16.10671
1129$13.10$15.1036.43%$185.00—$16.50$18.40600
149$11.20$12.3035.52%$190.00—$19.30$21.301310
024$8.90$11.1035.46%$195.00—$22.20$24.90260
3192$7.80$8.5034.63%$200.00—$25.60$28.001050
52,068$5.00$6.7034.97%$210.00—$33.00$35.80600
2683$3.70$4.5035.11%$220.00—$41.10$44.10110
2593$2.30$3.3035.09%$230.00—$50.10$53.0090
1517$1.50$2.0034.41%$240.00—————
6267$1.15$1.4035.20%$250.00—$69.80$72.1010

Forward $181.42. The 25-delta put carries +3.21 volatility points over the 25-delta call.

2027-06-17(223 days)ATM 35.85%±51.10skew +2.89
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$61.20$64.40—$120.00—————
01$57.00$60.00—$125.00—————
—————$130.0039.78%$2.50$4.00810
—————$140.0038.92%$4.00$6.00100
04$41.00$43.80—$145.0038.67%$4.80$7.50210
03$37.30$40.20—$150.0038.25%$6.20$8.60430
—————$155.0038.04%$7.60$10.203540
04$31.10$33.60—$160.0037.54%$9.20$11.703180
06$28.00$30.30—$165.0037.31%$11.10$13.50240
33$25.20$27.10—$170.0037.21%$13.30$15.508840
013$22.40$25.20—$175.0037.02%$15.60$17.701420
016$19.80$22.60—$180.0036.50%$17.80$20.00640
039$17.80$20.1036.33%$185.00—$21.20$22.503304
161$15.70$17.7035.83%$190.00—$23.30$25.501101
036$13.80$15.8035.65%$195.00—$26.20$28.40350
5468$11.90$14.2035.44%$200.00—$29.50$31.70530
0130$8.90$11.2035.06%$210.00—$36.00$38.8040
0263$6.60$8.7034.74%$220.00—$43.90$46.80110
01,025$5.00$7.1035.14%$230.00—————
0863$3.70$5.7035.30%$240.00—————
850$2.50$3.0035.37%$260.00—————

Forward $182.36. The 25-delta put carries +2.89 volatility points over the 25-delta call.

2027-09-17(315 days)ATM 35.58%±60.64skew +2.75
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$140.0039.06%$6.10$8.6010
—————$145.0037.74%$7.10$9.3010
—————$150.0037.88%$8.50$11.2010
—————$155.0037.50%$10.80$12.0004
02$26.00$29.00—$175.0036.96%$18.50$20.90100
08$23.30$26.50—$180.0036.49%$20.60$23.3010
017$21.70$24.5036.40%$185.00—$23.30$25.90150
02$17.30$20.2035.54%$195.00—$29.00$31.80230
01$15.70$18.4035.51%$200.00—$32.00$35.1050
027$12.60$15.2035.23%$210.00—$39.00$42.10120
057$9.60$12.5034.64%$220.00—$46.00$49.70220
225$8.30$10.5035.35%$230.00—$54.00$57.20160
020$6.00$8.7034.75%$240.00—$62.00$66.00150
0393$4.80$7.3034.96%$250.00—————
05$3.80$6.2035.20%$260.00—————

Forward $183.44. The 25-delta put carries +2.75 volatility points over the 25-delta call.

2027-11-19(378 days)ATM 36.52%±68.41skew +3.31
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$135.0039.11%$6.20$8.60100
—————$140.0039.38%$7.50$10.4020
—————$145.0038.64%$8.80$11.5010
—————$150.0038.45%$10.30$13.2010
—————$160.0037.78%$13.80$16.6030
—————$170.0037.20%$18.00$20.5010
—————$175.0037.16%$20.30$23.0010
02$26.30$29.70—$180.0037.06%$22.80$25.501500
01$24.10$27.5036.84%$185.00—$25.30$28.10100
01$18.50$21.6036.42%$200.00—$34.00$36.9010
01$15.00$18.0035.69%$210.00—$40.50$43.7040
05$12.50$15.1035.54%$220.00—$48.00$51.0040
012$10.00$12.9035.32%$230.00—$55.50$58.7010
06$8.00$10.9035.10%$240.00—————
016$6.40$9.4035.14%$250.00—————
010$5.20$7.9035.08%$260.00—————

Forward $184.06. The 25-delta put carries +3.31 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.