Options Skew Analytics

GIS option chain

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

Data as of 9 November 2026 (end of day)

2026-12-18(39 days)ATM 36.43%±4.20skew +2.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$16.90$19.20—$17.50—————
18$14.70$16.00—$20.00—————
023$9.60$11.90—$25.00—————
025$7.30$8.90—$27.50—————
14326$5.10$5.70—$30.0040.19%$0.20$0.254,74160
222,817$3.20$3.40—$32.5037.43%$0.60$0.656,970141
1762,747$1.70$1.90—$35.0036.68%$1.45$1.653,54941
2003,772$0.75$0.8035.17%$37.50—$2.90$3.201,00217
2736,090$0.25$0.3034.41%$40.00—$4.90$5.301,1182
232,397$0.10$0.1537.15%$42.50—$7.00$8.30380
122,541$0.05$0.1041.33%$45.00—$9.60$11.402510
—————$50.00—$14.50$16.9013
—————$52.50—$16.40$19.4002
—————$55.00—$18.90$21.0003
—————$57.50—$21.10$24.4002
—————$60.00—$24.50$26.9001

Forward $35.25. The 25-delta put carries +2.25 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 37.48%±5.62skew +1.62
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
07$16.50$18.20—$17.50—————
011$14.30$16.40—$20.00—————
048$9.70$10.70—$25.00—————
053$7.50$8.40—$27.5040.51%$0.15$0.251,2941
17397$5.50$5.90—$30.0038.53%$0.45$0.553,76415
43,019$3.60$3.80—$32.5037.94%$1.10$1.207,502133
1,5185,300$2.10$2.35—$35.00—$2.15$2.302,98910
3005,908$1.15$1.3537.12%$37.50—$3.50$4.107867
444,784$0.60$0.6536.32%$40.00—$5.40$6.101,6180
73,567$0.30$0.4037.87%$42.50—$7.50$8.104,2870
—————$45.00—$10.00$10.402,42612
22,201$0.10$0.1541.46%$47.50—$12.30$13.102,1160
—————$50.00—$14.60$15.602500
—————$52.50—$17.00$18.10470
—————$55.00—$19.10$20.90130
—————$57.50—$21.80$23.4030
—————$65.00—$29.30$30.8010
—————$70.00—$33.80$35.70100

Forward $35.00. The 25-delta put carries +1.62 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 36.48%±7.66skew +2.31
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
017$16.90$18.70—$17.50—————
028$14.60$16.20—$20.00—————
01$12.20$13.30—$22.50—————
2443$9.90$10.90—$25.0038.41%$0.15$0.252170
068$7.60$8.70—$27.5037.03%$0.35$0.551,2481
3114$5.90$6.30—$30.0037.50%$0.95$1.053,99418
10896$4.20$4.60—$32.5036.36%$1.70$1.801,11318
12619$2.90$3.30—$35.0036.66%$2.75$3.1099721
31963$1.90$2.2035.97%$37.50—$4.20$4.6041510
7042,699$1.20$1.3535.11%$40.00—$5.70$6.603010
9955$0.75$0.8535.19%$42.50—$7.80$8.603270
34762$0.40$0.6035.47%$45.00—$10.00$10.904323
1221$0.30$0.4537.54%$47.50—$12.20$13.2020
—————$50.00—$14.60$15.70170

Forward $35.18. The 25-delta put carries +2.31 volatility points over the 25-delta call.

2027-04-16(158 days)ATM 35.53%±8.21skew +3.55
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0643$10.00$10.80—$25.0040.62%$0.30$0.455560
—————$27.5039.27%$0.60$0.851381
0287$5.90$6.60—$30.0038.32%$1.10$1.502210
0907$4.30$5.00—$32.5037.04%$2.00$2.201,00610
0716$3.00$3.50—$35.0035.50%$3.00$3.302,5579
82,698$2.20$2.3535.58%$37.50—$4.40$5.107340
10337$1.45$1.5534.98%$40.00—$6.00$6.80750
2159$0.90$1.0534.78%$42.50—$8.00$8.90370
7262$0.60$0.8036.03%$45.00—$10.10$11.00150
039$0.40$0.5035.96%$47.50—$12.40$13.4060
0207$0.25$0.3536.33%$50.00—————

Forward $35.10. The 25-delta put carries +3.55 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 34.28%±9.37skew +2.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$17.00$18.20—$17.50—————
01$14.60$15.80—$20.00—————
04$12.40$13.40—$22.5041.38%$0.25$0.403430
083$10.00$11.10—$25.0038.22%$0.45$0.603280
04$8.00$9.00—$27.5036.45%$0.80$1.005024
183$6.30$7.20—$30.0036.56%$1.40$1.809090
0321$4.70$5.50—$32.5035.26%$2.25$2.601,51327
25347$3.60$4.00—$35.0035.01%$3.40$3.803,1338
1,4621,351$2.60$2.8033.93%$37.50—$4.70$5.501,0830
141,695$1.85$2.1034.25%$40.00—$6.50$7.1069660
6473$1.25$1.5033.91%$42.50—$8.30$8.90850
2440$0.80$1.1534.09%$45.00—$10.30$11.20280
0313$0.55$0.8034.08%$47.50—$12.30$13.60260
0443$0.40$0.5534.30%$50.00—$14.80$15.90150

Forward $35.21. The 25-delta put carries +2.66 volatility points over the 25-delta call.

2027-09-17(312 days)ATM 34.92%±11.35skew +1.54
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$14.80$15.80—$20.00—————
030$12.50$13.50—$22.5039.50%$0.40$0.657512
05$10.60$11.40—$25.0037.59%$0.75$0.954010
044$7.70$9.40—$27.5036.29%$1.20$1.503131
026$6.80$7.60—$30.0036.02%$1.90$2.352670
0105$5.10$5.90—$32.5035.36%$2.85$3.305910
5568$4.10$4.70—$35.0034.83%$4.00$4.501290
048$3.20$3.7034.92%$37.50—$5.40$5.901871
0209$2.40$2.9034.73%$40.00—$6.90$7.70800
0184$1.75$2.2034.21%$42.50—$8.70$9.50330
0214$1.30$1.7534.48%$45.00—$10.50$11.60370
035$0.95$1.3534.44%$47.50—$12.80$13.9050
077$0.70$1.0534.57%$50.00—$15.00$16.001530
0117$0.40$0.6535.13%$55.00—————

Forward $35.16. The 25-delta put carries +1.54 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.