Options Skew Analytics

FCX option chain

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

Data as of 22 September 2026 (end of day)

2026-09-25(3 days)ATM 51.79%±3.51skew +0.76
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1077$9.70$11.00—$64.00—————
10534$8.80$10.05—$65.0066.39%$0.01$0.02433169
42166$8.25$8.80—$66.0062.30%$0.01$0.0321317
37124$7.25$7.85—$67.0059.12%$0.02$0.04554209
78154$6.25$6.95—$68.0055.82%$0.04$0.0553442
22715$5.40$5.85—$69.00—————
41882$4.40$4.95—$70.0055.50%$0.14$0.20663182
79463$3.55$4.05—$71.0053.12%$0.23$0.30399181
1321,278$2.94$3.20—$72.0052.88%$0.40$0.50256160
2011,391$2.23$2.45—$73.0050.71%$0.63$0.72219140
238919$1.64$1.83—$74.0052.31%$1.01$1.1755597
4951,543$1.18$1.3151.62%$75.00—$1.44$1.6820167
2942,318$0.79$0.8851.21%$76.00—$1.99$2.443,07610
2891,417$0.51$0.6152.11%$77.00—$2.51$3.201,0238
182363$0.32$0.3952.42%$78.00—$3.15$4.70926
103132$0.19$0.2452.61%$79.00—$4.15$5.00238
188750$0.11$0.1452.79%$80.00—$5.10$5.90466
—————$81.00—$6.00$6.85871
32179$0.02$0.0552.53%$82.00—————
—————$83.00—$7.80$10.2510
—————$86.00—$11.25$12.9501

Forward $74.68. The 25-delta put carries +0.76 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 48.80%±6.03skew -0.94
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
038$9.95$11.40—$64.0050.59%$0.05$0.103978
024$8.45$10.55—$65.0050.20%$0.10$0.1320664
062$8.00$9.45—$66.0048.66%$0.12$0.1917417
240$7.10$8.40—$67.0047.48%$0.18$0.2515945
10158$6.50$7.40—$68.0047.59%$0.30$0.3589198
07$5.15$6.75—$69.0048.73%$0.42$0.59336107
39199$4.90$5.50—$70.0047.45%$0.59$0.73301295
35114$4.10$4.80—$71.0047.56%$0.81$1.016559
162369$3.50$4.05—$72.0046.50%$1.11$1.2313245
33173$2.87$3.40—$73.0047.75%$1.46$1.7397180
54361$2.49$2.95—$74.0048.21%$1.88$2.236733
2641,946$2.14$2.3348.81%$75.00—$2.35$2.833114
92105$1.69$1.9248.76%$76.00—————
2,9822,986$1.41$1.4848.87%$77.00—$3.50$4.1061
46246$1.02$1.1847.99%$78.00—$3.95$6.0562
3529$0.78$0.9648.50%$79.00—$4.70$6.1512
353254$0.59$0.7648.78%$80.00—$5.55$6.40101
10429$0.44$0.6149.25%$81.00—$6.35$8.7050
1688$0.32$0.4548.94%$82.00—————
231$0.25$0.3750.11%$83.00—————
—————$85.00—$9.80$12.1560

Forward $74.64. The 25-delta put carries -0.94 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 47.43%±7.65skew +0.54
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$10.80$12.70—$63.00—————
012$8.65$10.65—$65.00—————
1145$7.55$9.60—$66.00—————
02$7.20$8.90—$67.00—————
2072$5.90$7.95—$68.0047.25%$0.64$0.751009
100161$4.95$7.30—$69.0046.90%$0.79$0.998017
19188$5.60$6.05—$70.0046.46%$1.04$1.2031527
3544$4.80$5.55—$71.0045.32%$1.31$1.401228
1031$4.05$4.80—$72.0046.21%$1.66$1.844121
51119$3.70$4.00—$73.0046.63%$2.05$2.303116
14162$3.00$3.45—$74.0045.94%$2.50$2.673024
31245$2.79$3.0547.47%$75.00—$2.93$3.45211
2854$2.35$2.4846.44%$76.00—$3.35$3.7540
1742$1.97$2.0746.32%$77.00—$3.90$4.3510
10221$1.62$1.7346.22%$78.00—$4.65$5.55190
2317$1.27$1.4445.74%$79.00—$5.15$7.20360
203285$1.08$1.1545.92%$80.00—$6.10$7.8540
850$0.86$0.9946.37%$81.00—————
17144$0.67$0.8246.36%$82.00—————
3,10013$0.56$0.6846.98%$83.00—————
629$0.36$0.6049.77%$85.00—————

Forward $74.73. The 25-delta put carries +0.54 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 46.01%±8.81skew +1.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
40$8.70$9.65—$66.0047.55%$0.61$0.771077
82$8.05$9.15—$67.0047.54%$0.79$0.96150130
012$7.35$8.15—$68.0047.44%$0.99$1.1919461
02$6.40$7.25—$69.0047.75%$1.18$1.55911
2006,164$6.20$6.45—$70.0047.08%$1.51$1.736,9121,025
24$4.95$6.05—$71.0046.97%$1.78$2.1215860
4644$4.60$5.15—$72.0046.69%$2.21$2.4156770
1772,627$4.40$4.85—$72.5047.16%$2.40$2.70462190
194$4.00$4.75—$73.0046.58%$2.54$2.91073
5181$3.50$4.00—$74.0047.13%$2.97$3.507538
89912,910$3.30$3.4546.16%$75.00—$3.45$3.901,6281,377
25194$2.75$3.0545.69%$76.00—————
123331$2.41$2.7146.44%$77.00—$4.60$6.4510
5661,883$2.28$2.4045.93%$77.50—$4.90$5.60540
40419$2.02$2.2545.48%$78.00—$5.15$6.90024
728$1.71$2.1847.24%$79.00—————
58318,488$1.51$1.6546.00%$80.00—$6.60$7.602,6539
396$1.27$1.4446.30%$81.00—————
7733$1.05$1.2446.35%$82.00—————
381,499$0.99$1.1246.46%$82.50—$8.55$9.6590
271$0.86$1.0045.80%$83.00—————

Forward $74.70. The 25-delta put carries +1.39 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 48.10%±10.46skew +0.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$9.00$11.10—$65.00—————
—————$66.0048.15%$0.90$1.165222
14$7.60$9.40—$67.0048.80%$1.19$1.40439
227$7.05$8.75—$68.0049.29%$1.45$1.738517
328$6.15$8.00—$69.0048.32%$1.64$2.00299
279$5.85$7.20—$70.0047.25%$1.85$2.294814
035$4.45$6.55—$71.0048.02%$2.27$2.72811
4941$5.35$5.95—$72.0047.70%$2.65$3.10575
032$4.65$5.40—$73.0048.08%$2.95$3.75472
312$4.25$4.70—$74.0047.98%$3.50$4.15212
27206$3.70$4.3048.31%$75.00—$4.05$4.70183
138$3.25$3.7547.59%$76.00—$4.45$5.40160
330$2.90$3.3547.89%$77.00—$5.05$7.2020
4328$2.80$2.9849.45%$78.00—————
27$2.20$2.7148.22%$79.00—————
42177$1.90$2.2947.47%$80.00—————
027$1.47$2.2247.70%$81.00—————
1627$1.42$1.8047.77%$82.00—————
2336$1.28$1.6849.00%$83.00—————
6219$1.06$1.3447.68%$84.00—————
625$0.86$1.1947.54%$85.00—————

Forward $74.62. The 25-delta put carries +0.29 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 49.65%±11.95skew +0.13
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$9.80$11.45—$65.0048.52%$1.00$1.253436
—————$66.0048.60%$1.17$1.54132
12$7.90$9.90—$67.0048.68%$1.44$1.7963
024$7.30$9.10—$68.0048.92%$1.66$2.18215
739$6.75$8.35—$69.0048.42%$1.95$2.45320
6129$6.85$7.75—$70.0048.58%$2.30$2.833032
6079$5.30$7.00—$71.0049.92%$2.64$3.5030
021$4.80$6.45—$72.0049.43%$3.05$3.85214
7811$4.75$5.85—$73.0049.08%$3.45$4.3010
228$4.20$5.40—$74.0049.17%$3.95$4.80013
3657$4.30$4.7048.90%$75.00—$4.45$5.30260
52$3.85$4.5050.08%$76.00—$5.10$5.8510
2536$3.40$3.9048.82%$77.00—————
65$3.05$3.6549.61%$78.00—————
015$2.74$3.2049.22%$79.00—————
263$2.42$2.9549.56%$80.00—$7.55$9.70110
223$2.15$2.6949.83%$81.00—————
2629$1.83$2.3148.80%$82.00—————
1211$1.68$2.0048.88%$83.00—————
24$1.24$2.0048.79%$84.00—————
13126$1.28$1.6249.09%$85.00—————

Forward $74.62. The 25-delta put carries +0.13 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 48.55%±14.62skew -0.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$42.65$46.45—$30.00—————
08$37.85$41.50—$35.00—————
0101$32.95$35.40—$40.0063.13%$0.01$0.051,03310
054$28.55$30.30—$45.0058.78%$0.05$0.103,09610
1181$24.25$25.55—$50.0054.83%$0.15$0.2011,63443
01,349$18.80$20.75—$55.0051.71%$0.38$0.424,64480
6982$14.95$16.15—$60.0049.57%$0.82$0.953,865265
304,994$11.35$11.95—$65.0048.80%$1.81$1.922,9051,125
373,273$8.00$8.65—$70.0048.37%$3.40$3.552,847153
127337$6.95$7.10—$72.5048.29%$4.45$4.6536144
5492,465$5.70$5.8048.64%$75.00—$5.65$6.0577335
153225$4.60$4.7548.48%$77.50—$7.00$7.50450
2885,570$3.70$3.8548.46%$80.00—$8.50$9.2015115
165368$2.99$3.1548.91%$82.50—$10.15$11.4020
2,5008,910$2.38$2.4748.74%$85.00—$11.85$12.90263
65165$1.82$2.0549.00%$87.50—$14.05$15.70180
8512,063$1.47$1.5749.05%$90.00—$16.05$17.40207
241,676$0.90$1.0149.68%$95.00—————
812,834$0.52$0.6449.98%$100.00—$25.15$26.5580
25645$0.34$0.4151.04%$105.00—$29.90$32.40260

Forward $74.90. The 25-delta put carries -0.20 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 47.77%±17.54skew -0.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
11525$38.05$40.40—$35.0062.49%$0.01$0.052,97423
101,560$34.00$35.55—$40.00—————
02,478$28.25$30.70—$45.00—————
32,302$24.10$25.85—$50.0051.73%$0.29$0.395,73910
52,081$19.70$21.40—$55.0050.00%$0.66$0.8011,34352
49,127$16.10$16.95—$60.0048.53%$1.36$1.4911,49531
101,323$12.10$13.10—$65.0048.33%$2.57$2.752,62637
444,160$9.30$9.75—$70.0047.01%$4.20$4.405,91364
60229$8.15$8.40—$72.5048.49%$5.40$5.8513122
3557,416$6.95$7.20—$75.0048.17%$6.75$6.9561519
26226$5.85$6.0547.76%$77.50—$8.00$9.00670
86710,215$4.95$5.1047.82%$80.00—$9.65$10.1030815
11274$4.00$4.4047.73%$82.50—$11.15$13.50110
3812,999$3.45$3.6047.90%$85.00—$13.00$14.301260
861$2.88$2.9847.93%$87.50—$14.80$17.1560
1594,420$2.40$2.5848.51%$90.00—$16.70$19.20830
194,519$1.64$1.7448.50%$95.00—————
5092,380$0.97$1.2848.43%$100.00—$25.40$27.9520
25383$0.74$0.8549.25%$105.00—$30.05$32.60200
2628$0.46$0.6950.24%$110.00—————
1412$0.21$0.3451.02%$120.00—————

Forward $75.23. The 25-delta put carries -0.18 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.