Options Skew Analytics

HAL 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 42.28%±1.42skew +1.37
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$6.25$7.20—$25.00—————
10$4.50$5.20—$27.00—————
70$3.55$4.30—$28.00—————
65$2.89$3.25—$29.00—————
—————$30.0047.97%$0.06$0.099523
034$1.20$1.77—$30.5045.49%$0.10$0.158122
052$1.13$1.23—$31.0043.45%$0.18$0.2423249
292$0.76$0.88—$31.5043.27%$0.34$0.3930159
116147$0.53$0.5842.31%$32.00—$0.53$0.6252115
9729$0.29$0.3740.97%$32.50—$0.83$0.94421
26992$0.18$0.2242.08%$33.00—$1.22$1.3017549
66114$0.09$0.1342.31%$33.50—$1.41$1.907410
47204$0.04$0.0944.03%$34.00—$1.86$2.671811
25159$0.02$0.0443.49%$34.50—$2.30$3.20570
—————$35.00—$2.86$3.404474
—————$35.50—$3.30$4.101480
—————$36.00—$3.80$4.703130
—————$36.50—$4.30$5.50380
—————$37.00—$4.70$6.9001
—————$38.00—$5.55$8.0501
—————$38.50—$6.15$8.4501

Forward $31.98. The 25-delta put carries +1.37 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 39.08%±2.17skew +3.12
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$8.20$9.35—$23.00—————
04$3.20$4.35—$28.00—————
1915$2.45$3.35—$29.0042.46%$0.07$0.121,27237
300$1.83$2.81—$29.5041.17%$0.11$0.178105
054$1.81$2.54—$30.0041.75%$0.21$0.251,54211
—————$30.5040.28%$0.28$0.368325
171$1.39$1.52—$31.0040.61%$0.44$0.5134553
04$1.06$1.19—$31.5041.02%$0.61$0.742421
15911,136$0.82$0.9139.20%$32.00—$0.83$0.911,63319
9523$0.59$0.6738.50%$32.50—$1.10$1.221705
913,754$0.38$0.4837.29%$33.00—$1.40$1.539452
1046$0.26$0.3337.16%$33.50—$1.78$1.89781
5411,420$0.20$0.2238.02%$34.00—$1.96$2.70734501
6636$0.12$0.1537.75%$34.50—$2.41$3.151571
373,781$0.08$0.1038.21%$35.00—$2.95$3.602792
—————$35.50—$3.35$4.254370
321,830$0.04$0.0641.18%$36.00—$3.80$4.753440
—————$36.50—$4.20$5.5040
—————$37.00—$4.75$6.001520
33,017$0.01$0.0550.88%$38.00—$5.70$7.15340

Forward $31.99. The 25-delta put carries +3.12 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 37.65%±2.68skew +1.72
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$2.05$3.00—$29.5039.97%$0.23$0.30—74
030$1.82$2.55—$30.0037.83%$0.28$0.383500
0—$1.87$2.05—$30.5037.94%$0.41$0.52—0
13$1.51$1.68—$31.0037.11%$0.55$0.675891
0—$1.04$1.41—$31.5035.99%$0.68$0.88—40
3318$0.98$1.08—$32.00—$0.99$1.07602
4—$0.77$0.9638.47%$32.50—$1.27$1.38—1
4302$0.56$0.6535.78%$33.00—$1.58$1.671090
3—$0.43$0.5737.61%$33.50—$1.88$2.04—0
7525$0.32$0.3736.22%$34.00—$2.14$3.15970
—————$34.50—$2.52$3.65—0
—————$35.00—$2.85$4.00370
—————$35.50—$3.40$4.55—0
—————$36.50—$4.25$5.50—0
—————$37.00—$4.70$7.1010
—————$37.50—$5.15$6.85—0

Forward $32.00. The 25-delta put carries +1.72 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 36.26%±3.42skew +1.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$28.0039.74%$0.18$0.30525
—————$29.0039.29%$0.33$0.5082
—————$30.0037.49%$0.52$0.74360
271$1.77$2.01—$31.0037.04%$0.89$1.07520
1035$1.20$1.4036.30%$32.00—$1.32$1.54101
244$0.78$0.9635.63%$33.00—$1.89$2.127781
83$0.53$0.6936.85%$34.00—$2.58$2.8151
118$0.33$0.4236.19%$35.00—$3.10$4.5024
—————$37.00—$4.45$7.3510
—————$38.00—$5.30$8.3520
—————$40.00—$6.80$10.3010

Forward $31.87. The 25-delta put carries +1.29 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 35.67%±3.72skew +1.71
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$15.00$18.00—$15.00—————
0291$10.85$13.30—$20.00—————
0470$7.95$9.35—$23.00—————
0395$6.00$7.25—$25.00—————
040$5.05$6.45—$26.00—————
040$4.30$5.50—$27.00—————
12573$3.40$4.45—$28.0038.17%$0.25$0.311,7032
035$2.61$3.65—$29.0037.20%$0.43$0.4723159
0428$2.57$2.86—$30.0036.42%$0.67$0.732,32835
2860$1.92$2.01—$31.0036.13%$1.04$1.08827544
73166$1.42$1.4735.74%$32.00—$1.49$1.55539378
202,492$0.99$1.0335.24%$33.00—$2.05$2.163,0614
12262$0.67$0.7035.00%$34.00—$2.70$3.151780
13911,349$0.43$0.4634.71%$35.00—$3.45$3.851,3192
8558$0.26$0.3034.53%$36.00—$4.15$5.202970
163,097$0.16$0.1934.63%$37.00—$5.05$6.051,0690
—————$39.00—$6.95$8.1510
410,894$0.03$0.0937.93%$40.00—$7.80$9.258870
57,558$0.02$0.0843.08%$42.00—$9.75$11.202,5480
—————$50.00—$17.55$19.1520

Forward $31.92. The 25-delta put carries +1.71 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 35.15%±4.81skew +1.79
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0645$10.90$12.70—$20.00—————
04,936$8.05$9.40—$23.00—————
24,010$6.50$7.40—$25.00—————
1856$5.00$5.60—$27.0038.64%$0.30$0.477,0100
—————$28.0036.05%$0.47$0.523360
—————$29.0035.56%$0.70$0.7501
61,843$2.95$3.20—$30.0035.08%$1.01$1.0411,19926
41$2.32$2.62—$31.0034.84%$1.39$1.44245
759,764$1.88$1.9235.28%$32.00—$1.85$2.002,61425
27784$1.43$1.4634.71%$33.00—$2.33$2.716501
21587$1.07$1.1134.55%$34.00—$3.00$3.458500
14015,847$0.78$0.8234.26%$35.00—$3.70$4.1517,3130
10329$0.53$0.6033.77%$36.00—$4.40$5.353670
4645,914$0.38$0.4433.94%$37.00—$5.25$6.209590
0812$0.26$0.3935.14%$38.00—$6.15$7.201240
5913$0.15$0.2433.68%$39.00—$6.90$8.301764
705,579$0.13$0.1634.33%$40.00—$7.85$9.301,3680
—————$41.00—$8.85$10.301320
—————$42.00—$9.80$11.253250
—————$43.00—$10.85$12.2560
—————$44.00—$11.80$13.2570

Forward $31.97. The 25-delta put carries +1.79 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 35.61%±6.81skew +1.96
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$13.00$14.50—$18.00—————
02$11.20$12.55—$20.00—————
021$8.40$9.65—$23.00—————
2467$7.30$7.70—$25.0038.94%$0.38$0.566962
044$5.00$5.30—$28.0036.68%$0.98$1.1387762
0291$3.65$3.95—$30.0036.29%$1.67$1.822,71335
5250$2.12$2.4235.58%$33.00—$3.05$3.359731
491,522$1.44$1.6935.41%$35.00—$4.25$4.809062
42544$0.90$1.1334.72%$37.00—$5.75$6.255360
11751$0.49$0.5834.79%$40.00—$8.30$8.603081
—————$42.00—$10.00$11.152040
47876$0.17$0.2135.78%$45.00—$12.90$14.25120
—————$47.00—$14.90$16.30120

Forward $32.06. The 25-delta put carries +1.96 volatility points over the 25-delta call.

2027-04-16(158 days)ATM 35.07%±7.40skew -0.50
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$6.90$7.95—$25.00—————
—————$26.0039.47%$0.68$1.0650
03$5.40$6.40—$27.0036.47%$0.85$1.07142
01$4.70$5.70—$28.0035.84%$1.07$1.36348
124$4.55$4.90—$29.0036.53%$1.46$1.76110
233$3.80$4.30—$30.0037.08%$1.82$2.291311
—————$31.0036.66%$2.23$2.73220
3014$2.84$3.20—$32.0036.30%$2.72$3.20261
026$2.25$2.7435.06%$33.00—$3.20$3.801260
029$1.98$2.3735.71%$34.00—$3.85$4.40800
0439$1.65$2.0435.68%$35.00—$4.50$5.05710
087$1.11$1.7734.12%$36.00—$5.05$5.50976
022$1.13$1.4435.31%$37.00—$5.90$6.4530
0136$0.86$1.2535.03%$38.00—$6.70$7.3071
021$0.77$1.1536.34%$39.00—————
—————$40.00—$8.10$9.5580
023$0.48$0.7235.07%$41.00—————
037$0.32$0.5135.32%$43.00—————

Forward $32.06. The 25-delta put carries -0.50 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.