Options Skew Analytics

GIS option chain

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

Data as of 22 September 2026 (end of day)

2026-10-16(24 days)ATM 35.91%±3.24skew -1.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$15.00$17.10—$20.00—————
010$12.70$14.60—$22.50—————
17$10.40$11.10—$25.00—————
01$7.80$9.40—$27.50—————
0198$5.40$5.90—$30.0039.08%$0.05$0.101,104507
24282$3.10$3.30—$32.5035.84%$0.30$0.352,1761,651
3053,283$1.35$1.45—$35.0035.86%$1.15$1.205,6822,402
1,65110,480$0.50$0.5536.98%$37.50—$2.65$3.104,624107
5,5897,674$0.15$0.2038.64%$40.00—$4.80$5.202,5012
3146,479$0.05$0.1042.76%$42.50—$7.20$7.6056816
—————$45.00—$9.30$11.50920
—————$47.50—$11.70$14.00381
—————$50.00—$14.20$15.6090
—————$52.50—$16.00$19.0043
—————$55.00—$18.50$21.4090

Forward $35.23. The 25-delta put carries -1.14 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 32.19%±4.57skew +0.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$30.0033.80%$0.20$0.302053
172100$3.40$3.80—$32.5033.44%$0.70$0.8010534
793$1.90$2.00—$35.0032.33%$1.65$1.7013,450356
83174$0.90$1.0031.91%$37.50—$2.95$3.406637
534301$0.40$0.5032.86%$40.00—$4.80$5.5080
83153$0.20$0.3035.62%$42.50—$6.90$7.8015

Forward $35.28. The 25-delta put carries +0.58 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 32.14%±5.55skew -0.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$17.60$19.50—$17.50—————
03$14.90$17.10—$20.00—————
02$12.80$14.30—$22.50—————
0124$10.30$11.20—$25.00—————
08$8.00$8.80—$27.50—————
044$5.70$6.10—$30.0033.32%$0.35$0.502,69312
0157$3.80$4.50—$32.5032.13%$0.90$1.052,38021
1746$2.30$2.45—$35.0032.19%$1.95$2.054,151315
2312,296$1.30$1.4032.00%$37.50—$3.30$3.601,05437
995,134$0.70$0.8032.64%$40.00—$5.20$5.701,27421
752,441$0.35$0.5033.82%$42.50—$7.20$7.803553
1282,853$0.20$0.3035.25%$45.00—$9.50$10.104912
—————$47.50—$11.80$12.60811
—————$50.00—$14.10$15.20683
—————$52.50—$16.10$17.60220
—————$55.00—$18.50$20.60250
—————$60.00—$23.30$25.8010

Forward $35.38. The 25-delta put carries -0.51 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 32.14%±6.38skew +1.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$15.00$16.50—$20.00—————
058$9.60$12.10—$25.00—————
013$8.00$9.30—$27.5035.43%$0.25$0.358741
3449$5.80$6.40—$30.0033.80%$0.60$0.702,75852
0165$4.00$4.50—$32.5032.82%$1.25$1.354,0986
501,125$2.60$2.80—$35.0032.48%$2.30$2.403,17927
332,761$1.55$1.7031.66%$37.50—$3.70$3.903,75410
732,610$0.90$1.0031.68%$40.00—$5.50$5.801,3782
453,122$0.55$0.6533.08%$42.50—$7.60$8.004,3761
632,669$0.30$0.3532.88%$45.00—$9.80$10.302,5400
—————$47.50—$11.70$12.602,3240
682,987$0.15$0.2037.25%$50.00—$14.30$15.106520
—————$52.50—$16.60$17.604020
—————$55.00—$18.50$20.101270
01,248$0.05$0.1042.03%$57.50—$21.00$22.60170
02,103$0.05$0.1045.00%$60.00—$23.30$26.00250
0530$0.05$0.1047.81%$62.50—$25.80$28.4040
—————$65.00—$28.80$30.2010
—————$70.00—$33.20$35.30100

Forward $35.35. The 25-delta put carries +1.14 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 31.99%±7.90skew +1.96
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$17.40$19.60—$17.50—————
020$14.90$17.10—$20.00—————
01$12.90$14.30—$22.50—————
07$10.50$11.20—$25.00—————
012$8.30$9.20—$27.5034.32%$0.45$0.651,0990
040$6.30$7.00—$30.0034.54%$0.95$1.302,1554
0172$4.60$5.00—$32.5032.22%$1.70$1.854012
25377$3.10$3.40—$35.0031.91%$2.85$2.901,3045
9689$2.20$2.3032.05%$37.50—$4.20$4.4017126
782,034$1.45$1.5531.96%$40.00—$5.70$6.201480
52565$1.00$1.0532.58%$42.50—$7.50$8.303080
22565$0.65$0.8033.59%$45.00—$9.60$10.50520
9193$0.40$0.6534.67%$47.50—$11.80$12.80790
5433$0.25$0.4034.25%$50.00—$14.30$15.20490
—————$52.50—$16.70$17.60140
—————$55.00—$19.10$20.20300
—————$65.00—$28.20$30.501850

Forward $35.38. The 25-delta put carries +1.96 volatility points over the 25-delta call.

2027-04-16(206 days)ATM 33.28%±8.91skew +2.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$25.0037.32%$0.35$0.45140
—————$27.5035.23%$0.60$0.80450
01$6.40$7.20—$30.0034.45%$1.10$1.40680
010$4.80$5.20—$32.5034.03%$1.90$2.256242
02$3.40$4.10—$35.0033.40%$2.80$3.502,33732
01,808$2.45$2.9533.23%$37.50—$4.20$4.803350
017$1.65$2.1032.84%$40.00—$5.90$6.5050
227$1.10$1.4032.31%$42.50—$7.60$8.5010
7559$0.75$0.9032.07%$45.00—————
111$0.50$0.7533.39%$47.50—————

Forward $35.61. The 25-delta put carries +2.14 volatility points over the 25-delta call.

2027-06-17(268 days)ATM 32.77%±10.04skew +3.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$17.40$19.60—$17.50—————
080$15.20$17.00—$20.00—————
01$10.60$11.60—$25.00—————
03$8.60$9.50—$27.50—————
037$6.80$7.10—$30.0034.66%$1.40$1.8078237
1227$5.20$5.50—$32.5033.30%$2.20$2.559315
067$3.90$4.60—$35.0033.07%$3.30$3.703330
1546$2.85$3.5032.70%$37.50—$4.50$5.107390
6561$2.10$2.3031.29%$40.00—$6.30$6.806890
0357$1.45$2.1033.09%$42.50—$7.90$8.80720
6295$1.05$1.1530.98%$45.00—$9.80$10.80240
2322$0.70$1.1532.93%$47.50—$11.90$12.9020
20419$0.55$0.7532.75%$50.00—$14.40$15.30220
311$0.30$0.5034.32%$55.00—$19.20$20.2040

Forward $35.77. The 25-delta put carries +3.69 volatility points over the 25-delta call.

2027-09-17(360 days)ATM 33.24%±11.80skew +1.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$14.60$16.10—$20.0039.37%$0.25$0.35140
—————$22.5036.68%$0.40$0.55041
01$10.90$11.80—$25.0035.69%$0.75$0.9028241
—————$27.5033.86%$1.10$1.402491
02$7.20$8.10—$30.0034.49%$1.85$2.30830
—————$32.5033.16%$2.60$3.204321
10484$4.50$5.10—$35.0033.25%$3.90$4.30324
06$3.50$4.1033.25%$37.50—$5.10$5.70550
138$2.65$3.2032.81%$40.00—$6.60$7.30420
030$1.95$2.4532.25%$42.50—$8.40$9.2080
6429$1.55$1.7531.94%$45.00—$10.50$11.10142
032$1.05$1.7033.11%$47.50—$12.20$13.3010
242$0.80$1.0531.70%$50.00—$14.60$15.50633
6381$0.50$0.6532.54%$55.00—$17.90$21.60150

Forward $35.73. The 25-delta put carries +1.39 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.