Options Skew Analytics

FDX option chain

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

Data as of 6 November 2026 (end of day)

2026-11-13(7 days)ATM 29.91%±12.80skew +0.72
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$27.35$30.85—$280.00—————
010$22.85$25.75—$285.00—————
050$18.10$21.25—$290.00—————
—————$292.5031.57%$0.57$0.75273
2023$13.75$16.70—$295.0031.82%$0.81$1.202837
10$11.85$14.40—$297.5030.15%$0.96$1.55376
144$9.85$11.80—$300.0030.52%$1.68$2.011531
12127$8.85$9.40—$302.5030.12%$2.23$2.754444
10129$7.15$7.75—$305.0030.20%$3.00$3.754418
452$5.65$6.15—$307.5030.73%$4.05$5.001559
1717$4.35$4.8029.68%$310.00—$5.20$6.001412
191$3.25$4.0530.45%$312.50—$6.55$7.6011
2816$2.39$2.7129.00%$315.00—$8.15$9.102828
45763$1.71$2.2429.80%$317.50—$9.15$10.9530
3936$1.30$1.3528.95%$320.00—$11.30$13.6552
—————$322.50—$13.40$15.95132
—————$325.00—$15.10$18.4520
—————$327.50—$17.65$20.5590
—————$330.00—$20.05$22.9022
—————$332.50—$22.50$25.30700700
—————$335.00—$24.85$27.75700710

Forward $308.97. The 25-delta put carries +0.72 volatility points over the 25-delta call.

2026-11-20(14 days)ATM 29.32%±17.76skew +2.48
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$33.25$36.20—$275.00—————
036$28.45$31.40—$280.00—————
01$26.10$29.25—$282.50—————
0140$19.50$22.35—$290.0032.68%$1.25$1.926710
20$17.90$19.20—$292.5031.59%$1.51$2.23143
033$15.05$18.05—$295.0030.70%$1.90$2.594427
088$13.60$15.60—$297.5030.84%$2.43$3.353340
17419$12.30$13.15—$300.0030.60%$3.10$4.0518924
0141$10.40$11.50—$302.5029.68%$3.95$4.50197
091$8.95$10.30—$305.0029.47%$4.85$5.45779
13172$7.50$8.50—$307.5029.32%$5.90$6.55401
15475$6.25$7.1529.32%$310.00—$7.10$7.85602
014$5.10$6.1029.35%$312.50—$8.35$9.55630
1043$4.20$4.9529.12%$315.00—$9.85$11.10736
18$3.25$4.4029.53%$317.50—$11.35$12.85251
11362$2.63$3.2028.62%$320.00—$12.15$14.30360
422$2.03$2.5128.36%$322.50—$14.30$16.801700
7653$1.55$1.9628.22%$325.00—$16.55$18.75751
12619$0.90$1.1728.20%$330.00—$20.65$23.5022164
14128$0.46$0.6728.00%$335.00—$25.50$27.5511
42246$0.23$0.3427.71%$340.00—$30.00$32.8050

Forward $309.22. The 25-delta put carries +2.48 volatility points over the 25-delta call.

2026-11-27(21 days)ATM 28.67%±21.29skew +2.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$77.25$81.45—$230.00—————
017$57.50$61.35—$250.00—————
02$29.05$32.20—$280.00—————
01$24.80$27.45—$285.00—————
08$20.10$23.15—$290.00—————
02$16.90$18.50—$295.0029.89%$2.86$3.60260
027$13.45$14.55—$300.0029.27%$4.15$5.00251
016$10.20$11.60—$305.0028.69%$5.80$6.8570
116$7.50$9.0528.68%$310.00—————
35$5.40$6.6028.27%$315.00—$10.95$12.20100
012$3.65$4.7527.93%$320.00—$14.30$15.3510
011$2.27$3.2527.32%$325.00—$17.35$19.1030
129$1.47$2.1127.13%$330.00—$21.80$23.55433
—————$335.00—$25.75$28.0001

Forward $309.59. The 25-delta put carries +2.57 volatility points over the 25-delta call.

2026-12-04(28 days)ATM 28.39%±24.38skew +2.16
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$53.30$56.55—$255.00—————
01$21.20$24.30—$290.0029.77%$2.60$3.2511
—————$295.0029.43%$3.75$4.4510
11$14.70$16.10—$300.0028.93%$5.25$5.85131
24$11.55$12.85—$305.0028.70%$7.15$7.7531
112$9.00$10.4028.49%$310.00—$9.45$10.05232
121$6.70$7.7527.70%$315.00—$12.10$13.454535
1136$4.90$5.6027.17%$320.00—$15.15$16.456521
082$3.40$4.3027.27%$325.00—$17.70$20.10280
1263$2.36$2.8526.71%$330.00—————

Forward $309.95. The 25-delta put carries +2.16 volatility points over the 25-delta call.

2026-12-18(42 days)ATM 28.78%±30.20skew +2.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$122.55$126.55—$185.00—————
09$107.50$111.60—$200.00—————
02$98.05$101.40—$210.00—————
014$88.10$91.45—$220.00—————
02$68.15$71.70—$240.00—————
05$58.75$61.60—$250.00—————
09$49.15$52.05—$260.0033.65%$0.75$1.051353
033$39.80$42.70—$270.0031.75%$1.23$1.832211
071$31.45$33.95—$280.0030.70%$2.54$2.994296
0353$23.45$25.35—$290.0029.39%$4.35$4.9564110
18563$16.25$17.95—$300.0028.50%$7.25$8.0580137
30414$10.90$12.4028.80%$310.00—$11.55$13.20962687
136360$6.65$7.4527.42%$320.00—$17.20$18.5034090
26784$3.80$4.4027.00%$330.00—$24.40$26.152262
26769$2.04$2.5126.88%$340.00—$31.60$34.55800
18403$1.05$1.4327.09%$350.00—$40.30$43.8050

Forward $309.27. The 25-delta put carries +2.39 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 27.99%±38.01skew +2.33
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
013$108.00$111.40—$200.00—————
012$88.10$91.65—$220.00—————
03$78.50$81.95—$230.00—————
09$68.50$72.15—$240.00—————
012$59.55$62.45—$250.00—————
08$50.35$53.30—$260.0031.08%$1.33$2.2079115
046$41.70$44.35—$270.0030.46%$2.58$3.354300
2115$33.50$36.30—$280.0029.59%$4.35$4.9532178
054$26.75$28.20—$290.0029.10%$6.90$7.502355
12160$20.05$21.55—$300.0028.53%$10.25$10.9535887
5251$14.65$15.65—$310.0028.14%$14.70$15.4523435
12358$10.10$11.0527.46%$320.00—$20.25$21.201732
381,227$6.75$7.5527.08%$330.00—$25.55$27.855190
6229$4.30$5.0026.77%$340.00—$33.85$35.35280
105271$2.75$3.3026.87%$350.00—$41.55$44.6540
14354$1.74$2.0126.79%$360.00—$50.80$53.7580

Forward $310.08. The 25-delta put carries +2.33 volatility points over the 25-delta call.

2027-02-19(105 days)ATM 31.09%±51.98skew +1.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$62.70$65.75—$250.00—————
—————$270.0033.27%$5.90$6.250171
—————$280.0032.71%$8.15$8.75152
—————$290.0032.28%$11.00$12.0501
60$25.70$27.60—$300.00—————
10$20.35$22.80—$310.0031.53%$19.00$20.7004
312$16.35$17.2030.88%$320.00—$23.65$26.15120
15$12.60$13.4530.72%$330.00—————
31$9.25$10.6030.53%$340.00—————
20$4.95$6.8031.00%$360.00—————
100$3.55$4.5530.21%$370.00—————
70$2.50$4.0031.07%$380.00—————
310$1.76$2.2729.82%$390.00—————
—————$410.00—$99.25$103.45—0
—————$420.00—$109.50$113.00—0

Forward $311.75. The 25-delta put carries +1.70 volatility points over the 25-delta call.

2027-03-19(133 days)ATM 31.19%±58.70skew +1.82
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
09$109.75$113.20—$200.00—————
02$90.85$93.95—$220.00—————
—————$230.0035.33%$1.46$2.41790
13$72.55$76.05—$240.0034.30%$2.06$3.40180
11$64.10$67.30—$250.0033.33%$3.00$4.606260
012$55.50$58.70—$260.0033.68%$5.40$6.151336
02$47.85$50.80—$270.0033.04%$7.45$8.201133
078$41.00$43.10—$280.0032.52%$10.05$10.85944
090$34.20$36.45—$290.0032.19%$13.25$14.3019914
189$28.40$30.55—$300.0031.64%$16.75$18.401100
062$23.10$25.00—$310.0031.44%$21.45$23.101470
1116$18.55$20.3531.10%$320.00—$26.10$28.551100
2115$15.00$16.0530.80%$330.00—$32.35$34.80690
6321$11.50$12.8530.46%$340.00—$39.25$41.40990
2317$8.75$10.0030.09%$350.00—$46.55$48.9020
2121$6.65$8.6530.69%$360.00—$54.35$56.9030
4185$5.05$6.7030.56%$370.00—$62.25$65.3510
0133$3.75$5.9531.27%$380.00—————
184$2.83$4.6531.28%$390.00—$80.30$83.5010

Forward $311.80. The 25-delta put carries +1.82 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.