Options Skew Analytics

FTNT option chain

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

Data as of 9 November 2026 (end of day)

2026-11-13(4 days)ATM 56.99%±7.32skew +3.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$113.0061.78%$0.29$0.44810
—————$114.0061.38%$0.40$0.5583
08$7.40$9.30—$115.0060.78%$0.52$0.699331
01$6.35$8.40—$116.0059.62%$0.64$0.85277
01$5.50$7.60—$117.0058.91%$0.85$1.01914
—————$118.0056.56%$0.88$1.293610
—————$119.0058.31%$1.31$1.59581
4923$4.20$4.75—$120.0058.36%$1.59$2.0017160
1725$3.50$3.85—$121.0057.05%$1.99$2.261820
633$3.00$3.55—$122.0057.34%$2.41$2.761212
1822$2.51$3.0556.95%$123.00—$2.88$3.25134
1844$2.04$2.2953.60%$124.00—$3.40$3.901724
16022$1.65$1.9654.16%$125.00—$4.00$4.501543
28108$1.31$1.5953.75%$126.00—$4.70$5.10150
651,027$1.03$1.2653.29%$127.00—$5.40$5.8590
72222$0.80$1.0053.11%$128.00—$5.95$6.602399
2138$0.62$0.7652.71%$129.00—$6.15$8.30220
15671$0.48$0.6052.97%$130.00—$7.50$8.751812
93$0.35$0.5253.83%$131.00—$7.85$10.00610
25112$0.27$0.3552.94%$132.00—$8.60$10.85265
—————$133.00—$9.75$11.751810

Forward $122.71. The 25-delta put carries +3.46 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 49.56%±10.55skew +5.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$9.90$11.85—$113.0051.79%$0.82$1.25—1
0—$9.10$11.05—$114.00—————
08$8.50$10.30—$115.0052.09%$1.38$1.6118018
0—$7.75$8.90—$116.0052.65%$1.43$2.17—1
0—$7.55$8.25—$117.0053.46%$1.85$2.47—0
0—$6.20$7.90—$118.0051.91%$2.10$2.66—10
0—$6.15$6.90—$119.0050.62%$2.09$3.20—0
098$5.55$5.90—$120.0049.89%$2.87$3.101,214291
1—$4.55$5.75—$121.0047.85%$3.00$3.50—19
1—$4.45$5.40—$122.0049.09%$3.70$3.95—0
30—$3.80$4.3049.57%$123.00—$3.70$5.05—0
0—$3.45$3.7049.29%$124.00—$4.75$5.95—0
131201$2.99$3.2548.80%$125.00—$5.25$5.6547671
5—$2.62$2.8048.40%$126.00—$5.90$6.85—2
3—$1.98$2.7548.36%$127.00—$6.30$7.30—2
0—$1.89$2.1147.60%$128.00—$6.55$8.15—0
0—$1.64$1.9148.27%$129.00—$7.90$8.65—0
16407$1.37$1.5847.47%$130.00—$8.40$9.3537356
2—$1.18$1.4348.16%$131.00—$8.50$10.85—0
—————$132.00—$9.35$11.65—0
3—$0.82$0.9647.14%$133.00—$10.10$12.45—0

Forward $122.67. The 25-delta put carries +5.18 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 45.96%±12.51skew +4.82
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$10.50$12.60—$113.0051.53%$1.48$2.30—0
0—$9.75$11.60—$114.0051.83%$1.65$2.72—0
—————$115.0048.39%$2.04$2.313913
0—$8.95$9.75—$116.0048.46%$2.22$2.76—1
0—$7.60$9.65—$117.0051.32%$2.51$3.70—0
0—$7.15$8.50—$118.0048.00%$2.60$3.70—0
0—$7.00$7.90—$119.0049.26%$3.20$4.15—11
04$6.50$6.85—$120.0047.07%$3.70$4.0520030
0—$5.35$6.60—$121.0046.32%$3.65$4.85—4
0—$5.30$6.45—$122.0048.30%$4.40$5.50—1
0—$3.90$5.5545.59%$123.00—$4.55$5.80—0
1—$4.25$5.1549.50%$124.00—$5.00$6.40—5
4139$3.85$4.3047.60%$125.00—$6.05$6.4015243
0—$3.05$4.4047.98%$126.00—$6.10$7.65—0
0—$3.00$3.9549.05%$127.00—$7.20$8.35—0
—————$128.00—$7.75$8.80—0
5—$2.21$3.3048.33%$129.00—$8.05$10.00—0
393$2.15$2.4146.33%$130.00—$9.20$10.151082
—————$131.00—$9.25$10.85—0
52—$1.40$2.3147.01%$132.00—$9.80$11.70—0
0—$1.37$2.1048.11%$133.00—$10.70$12.95—1

Forward $122.55. The 25-delta put carries +4.82 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 46.12%±14.83skew +3.87
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$51.25$54.70—$70.00—————
05$21.95$24.80—$100.00—————
04$17.75$20.15—$105.0050.28%$0.74$0.953713
—————$110.0049.65%$1.56$1.741442
—————$115.0048.27%$2.73$2.9720310
17$7.30$7.65—$120.0046.66%$4.40$4.751443
017$4.75$5.1045.96%$125.00—$6.85$7.251521
721$2.90$3.2045.17%$130.00—$9.90$10.40900
825$1.66$1.8644.40%$135.00—$13.65$14.901101
2219$0.84$1.2044.75%$140.00—$17.00$19.65480
767$0.43$0.6344.29%$145.00—$21.50$24.15161
—————$150.00—$26.85$28.50271
—————$155.00—$30.55$33.9574

Forward $122.87. The 25-delta put carries +3.87 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 47.56%±17.29skew +1.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$105.0050.03%$1.02$1.48424
20$14.80$15.60—$110.0049.30%$1.85$2.55702
12$11.05$12.20—$115.0046.96%$3.10$3.70712
02$8.00$9.00—$120.0048.35%$4.95$6.251541
1211$5.40$6.3047.31%$125.00—$7.40$8.70883
516$3.50$4.2046.09%$130.00—$10.50$11.80200
246$2.15$2.8345.82%$135.00—$14.10$15.1580
—————$140.00—$17.45$19.80100
221$0.71$0.9844.24%$145.00—$21.30$24.4520
—————$150.00—$26.35$29.15160
—————$155.00—$30.80$34.0063
—————$160.00—$35.50$39.3511

Forward $122.79. The 25-delta put carries +1.14 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 45.50%±18.30skew +3.72
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
057$39.15$42.55—$82.50—————
0214$37.05$39.50—$85.00—————
0606$34.65$36.90—$87.50—————
0675$32.65$35.00—$90.00—————
095$30.30$32.40—$92.50—————
0387$27.55$29.75—$95.00—————
049$25.40$27.55—$97.50—————
1976$23.05$24.80—$100.0050.29%$0.73$1.06742122
0497$18.65$21.20—$105.0050.08%$1.45$1.8230876
0255$15.40$16.40—$110.0047.78%$2.43$2.5834737
1204$11.75$12.95—$115.0047.06%$3.80$4.1033828
152210$8.75$9.10—$120.0046.08%$5.70$6.00784182
33175$6.20$6.5545.43%$125.00—$8.10$8.55858575
26343$4.25$4.5544.80%$130.00—$11.10$11.551,0023
442519$2.79$3.0044.05%$135.00—$14.60$15.505078
501,178$1.76$1.9043.45%$140.00—$18.30$19.455111
15198$1.02$1.2543.21%$145.00—$22.65$23.558542
106852$0.62$0.7442.98%$150.00—$26.40$28.1539114
16213$0.33$0.4943.11%$155.00—$31.35$33.8544312
—————$160.00—$35.55$38.908181
—————$165.00—$40.55$43.706171

Forward $123.04. The 25-delta put carries +3.72 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 47.36%±20.45skew +1.22
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$105.0049.76%$1.58$2.3502
—————$110.0048.20%$2.59$3.4005
—————$115.0048.78%$4.00$5.4522
—————$120.0048.14%$5.95$7.5512
5250$6.65$7.7547.35%$125.00—$8.40$10.0512
21$4.60$6.0547.51%$130.00—$11.50$13.0010
10$3.25$4.3047.07%$135.00—$14.95$16.3542
22$2.04$3.2546.98%$140.00—$18.80$20.1050
27$1.27$2.0245.36%$145.00—$22.15$25.0551
—————$150.00—$26.85$29.3001
—————$155.00—$31.25$34.2010

Forward $122.96. The 25-delta put carries +1.22 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 44.92%±23.78skew +4.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0185$40.55$42.45—$82.50—————
0850$38.20$40.00—$85.00—————
0110$35.40$37.65—$87.50—————
0978$33.10$35.25—$90.00—————
0899$31.20$33.45—$92.5052.64%$0.88$1.361,0111
0177$28.60$30.60—$95.0050.06%$1.08$1.361,1529
0206$26.45$28.65—$97.5050.65%$1.35$1.932182
3578,215$24.80$25.75—$100.0048.32%$1.64$1.993748
0483$20.30$22.90—$105.0048.20%$2.74$2.961,260104
4828$17.25$18.00—$110.0047.25%$3.95$4.256155
0173$13.75$15.20—$115.0046.70%$5.40$6.1567613
331,176$11.10$11.45—$120.0045.82%$7.65$7.9033347
6560$8.25$9.3545.05%$125.00—$10.05$10.3584916
59926$6.50$6.8544.34%$130.00—$12.65$13.604120
18719$4.85$5.1043.83%$135.00—$16.05$17.251,1462
7390$3.50$3.8043.48%$140.00—$19.75$20.903136
66409$2.53$2.7343.18%$145.00—$23.20$24.9069317
26689$1.79$1.9743.04%$150.00—$27.40$29.9554223
10244$1.14$1.4742.75%$155.00—$31.85$33.805179
7567$0.79$1.0142.58%$160.00—$36.65$39.2055713
—————$165.00—$41.20$44.052310

Forward $123.59. The 25-delta put carries +4.07 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.