Options Skew Analytics

FTAI 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 53.39%±12.91skew -1.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$165.0052.64%$1.30$1.80824
—————$167.5052.87%$1.95$2.50720
011$6.70$10.20—$170.0053.88%$2.90$3.40372
—————$172.5052.51%$3.70$4.40301
2716$4.60$5.3053.36%$175.00—$5.10$5.6085172
01$3.70$4.3054.79%$177.50—$4.90$8.10418
808$2.65$3.2052.96%$180.00—$7.60$9.1096
—————$182.50—$7.80$11.5022
819$1.50$1.9054.14%$185.00—$9.70$13.50280
—————$187.50—$11.50$16.3020
7282$0.80$1.2056.23%$190.00—$13.60$18.40170
9086$0.60$0.9056.96%$192.50—$15.20$20.9010
—————$195.00—$17.10$23.10220
—————$197.50—$19.70$25.70150
—————$200.00—$22.10$27.80300
—————$205.00—$27.30$33.1011
—————$210.00—$31.70$39.9010

Forward $174.60. The 25-delta put carries -1.27 volatility points over the 25-delta call.

2026-10-16(21 days)ATM 54.95%±23.03skew -1.55
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$37.00$44.10—$135.00—————
010$16.40$21.40—$160.0054.71%$2.95$3.60820
01$12.20$17.90—$165.0054.46%$4.50$5.104383
22$10.90$14.00—$170.0055.18%$6.60$7.202367
100$9.80$12.60—$172.50—————
015$8.60$9.5054.99%$175.00—$9.00$9.602942
—————$177.50—$8.90$13.6010
5217$6.50$7.3054.87%$180.00—$10.40$14.701180
04$5.60$8.2060.51%$182.50—$11.80$16.1060
147$4.90$5.6055.38%$185.00—$13.30$17.502190
—————$187.50—$15.00$19.90300
3627$3.80$4.2056.26%$190.00—$16.70$20.50400
—————$195.00—$20.20$24.60270
21218$1.95$2.3556.78%$200.00—$24.90$28.8060
20$1.65$2.2057.88%$202.50—————
—————$210.00—$32.60$38.502910
—————$230.00—$51.70$57.8020

Forward $174.75. The 25-delta put carries -1.55 volatility points over the 25-delta call.

2026-11-20(56 days)ATM 65.80%±45.18skew +0.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$71.00$79.20—$100.00—————
01$63.60$69.60—$110.00—————
01$48.90$55.80—$125.00—————
10$41.20$47.20—$135.0068.35%$2.70$4.40335
—————$140.0066.31%$3.90$4.70265
04$29.70$35.40—$150.0064.01%$6.10$7.001090
04$27.10$31.60—$155.0063.98%$7.50$8.90181
04$24.40$28.30—$160.0064.01%$9.80$10.40693
04$20.70$25.40—$165.0063.87%$11.80$12.60691
04$17.30$22.90—$170.0064.92%$12.80$16.90610
43$16.90$18.10—$175.0063.96%$16.70$17.701160
08$13.60$17.9065.39%$180.00—$18.10$22.20800
038$11.90$16.5066.78%$185.00—$22.60$23.6060
022$10.30$14.2065.98%$190.00—$24.50$29.502522
06$9.70$10.9064.44%$195.00—$28.70$32.708125
0357$8.40$9.1063.71%$200.00—$31.00$35.002152
228$6.20$6.8063.71%$210.00—$38.70$44.20480
6625$4.70$5.1064.32%$220.00—$46.50$52.00190
—————$230.00—$54.90$60.40110
1247$2.40$3.8067.63%$240.00—$63.90$70.00180
—————$250.00—$73.00$79.00140

Forward $175.30. The 25-delta put carries +0.27 volatility points over the 25-delta call.

2026-12-18(84 days)ATM 61.00%±51.61skew +1.50
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
021$50.60$57.80—$125.00—————
15$48.10$53.70—$130.00—————
022$42.40$48.70—$135.0062.02%$3.50$5.6020
02$39.60$45.70—$140.00—————
02$36.10$41.40—$145.0062.31%$6.70$7.8030
010$33.30$38.00—$150.00—————
02$28.80$35.20—$155.0062.52%$10.30$11.20130
03$26.00$32.20—$160.0062.75%$12.50$13.20690
07$23.70$29.20—$165.0062.47%$14.50$15.5060
03$21.50$26.00—$170.0062.37%$16.80$18.00100
016$19.00$23.80—$175.0062.45%$19.60$20.50170
06$16.10$21.7061.37%$180.00—$22.20$23.40190
—————$185.00—$22.90$29.702670
08$14.40$15.4060.62%$190.00—$26.40$32.70100
032$12.60$13.7060.23%$195.00—$29.80$35.9010
0306$10.00$14.8062.46%$200.00—$33.30$37.107110
0131$8.50$9.8060.15%$210.00—$40.30$46.302710
053$6.00$9.8062.89%$220.00—$48.60$54.801060
040$5.10$6.4061.02%$230.00—$56.30$62.90610
—————$240.00—$64.80$71.80210
—————$250.00—$73.60$81.3090

Forward $176.36. The 25-delta put carries +1.50 volatility points over the 25-delta call.

2027-02-19(147 days)ATM 57.79%±65.15skew +1.24
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$52.10$57.40—$130.00—————
—————$145.0060.53%$9.80$12.9010
—————$150.0060.96%$12.10$14.7030
—————$155.0059.74%$13.30$16.7080
—————$160.0059.97%$15.70$18.9020
—————$165.0059.31%$17.60$21.2030
20$28.70$30.60—$170.0060.09%$20.90$23.6020
02$26.40$28.30—$175.0059.68%$23.30$26.20250
027$22.70$26.1057.72%$180.00—$25.90$29.00200
211$19.20$22.1057.79%$190.00—$31.60$35.1040
012$17.60$20.5057.99%$195.00—$34.60$38.8020
010$16.20$19.0058.25%$200.00—$38.40$42.3060
15$14.30$16.1059.16%$210.00—$45.00$48.8010
06$10.90$13.6057.80%$220.00—$52.40$58.5030
015$9.10$11.7058.21%$230.00—————
28$8.30$10.2059.72%$240.00—$67.20$74.4010
04$5.80$8.4057.72%$250.00—————
—————$260.00—$86.50$92.3010
08$4.00$6.2058.39%$270.00—————
24$4.20$5.8061.20%$280.00—————
—————$300.00—$122.50$130.0010

Forward $177.65. The 25-delta put carries +1.24 volatility points over the 25-delta call.

2027-03-19(175 days)ATM 65.97%±80.80skew -0.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$64.70$71.80—$115.00—————
03$61.30$68.00—$120.00—————
031$47.60$54.00—$140.0065.31%$11.10$15.4050
—————$145.0063.98%$12.00$17.40140
031$41.90$47.80—$150.0065.14%$15.00$19.501,7920
14$37.50$40.70—$160.00—————
—————$165.0065.13%$23.20$25.6050
—————$170.0065.01%$25.70$28.30103
01$28.90$34.20—$175.0064.84%$28.40$31.00120
05$26.50$32.4064.63%$180.00—$31.20$34.6013
03$25.10$30.2064.80%$185.00—$34.20$37.8070
027$23.20$28.4064.64%$190.00—$37.20$41.40100
08$22.80$26.9066.13%$195.00—$40.10$44.1070
0189$21.10$24.6065.22%$200.00—$41.30$47.7080
07$18.30$22.0065.53%$210.00—$48.00$54.5030
248$15.80$18.3064.25%$220.00—$55.90$61.9040
063$13.50$16.8064.88%$230.00—$63.50$69.203420
04$10.10$15.4063.76%$240.00—$71.80$77.0020
11,704$9.30$12.9063.77%$250.00—————
1159$7.90$11.6064.01%$260.00—$87.90$93.8020
015$6.60$10.8064.58%$270.00—$96.00$103.2060

Forward $176.89. The 25-delta put carries -0.04 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.