Options Skew Analytics

HCA 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 29.32%±33.30skew +2.89
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
62107$61.50$64.90—$380.00—————
04$57.00$59.80—$385.00—————
017$52.00$55.40—$390.00—————
03$47.50$50.50—$395.0031.77%$0.95$1.5042026
181$43.00$46.40—$400.00—————
0108$38.50$41.90—$405.0031.85%$1.90$2.854516
041$34.10$37.20—$410.0031.61%$2.65$3.60413127
270$30.00$33.20—$415.0031.21%$3.60$4.401412
454$26.20$29.60—$420.0031.19%$4.30$6.10291
95206$22.70$25.40—$425.0031.07%$5.70$7.501220
2576$18.90$21.90—$430.0029.36%$7.10$8.10724
093$15.90$18.50—$435.0029.95%$8.60$11.0071
169280$13.50$15.90—$440.0029.51%$10.60$13.10220
7101$11.40$13.2029.31%$445.00—$13.00$15.60415
30330$9.20$11.1029.32%$450.00—$15.90$19.0020
9168$7.20$9.3029.25%$455.00—$18.60$22.0010
131542$6.30$7.4029.73%$460.00—$21.70$25.50530
5494$4.30$5.6028.30%$465.00—————
22196$3.20$4.4028.11%$470.00—————
020$2.45$3.6028.47%$475.00—————
—————$485.00—$42.70$45.6002

Forward $442.99. The 25-delta put carries +2.89 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 35.34%±63.10skew +2.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$395.0035.80%$5.70$8.30180
09$51.20$54.20—$400.0036.57%$7.20$10.0061
06$47.50$50.70—$405.0035.72%$8.30$10.7040
02$43.80$47.40—$410.00—————
09$40.40$44.20—$415.00—————
54$37.20$40.50—$420.0035.01%$11.90$16.0050
37$34.60$36.70—$425.0035.12%$14.60$17.306530
014$30.80$33.80—$430.0034.99%$16.50$19.405010
210$27.70$30.90—$435.0034.63%$18.40$21.50280
80332$25.20$28.20—$440.0034.91%$21.30$23.8030
6467$23.70$25.7035.47%$445.00—————
239$21.20$23.4035.24%$450.00—$26.20$28.8010
02$17.50$21.0033.87%$455.00—$28.10$32.0001
59$16.80$18.9034.63%$460.00—————
32$13.50$16.7033.22%$465.00—————
22$12.00$15.1033.33%$470.00—————
1280$10.20$13.0032.60%$475.00—————
2681$9.10$11.8032.90%$480.00—$44.90$47.8025
226$8.50$10.2033.09%$485.00—$48.20$51.50735
32$6.90$9.2032.74%$490.00—————
0434$5.60$8.0032.23%$495.00—$55.50$59.8050

Forward $444.18. The 25-delta put carries +2.98 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 32.52%±70.72skew +4.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1017$57.90$61.20—$395.0034.26%$8.20$11.001080
627$54.40$57.20—$400.0034.40%$9.60$12.50381
05$50.70$54.50—$405.0034.26%$10.90$14.0062
020$47.20$50.80—$410.0033.62%$11.70$15.5090
027$43.80$47.30—$415.0033.31%$13.20$17.00140
131$40.60$43.60—$420.0033.42%$15.10$19.00350
07$37.40$40.40—$425.0033.30%$16.90$21.0070
022$34.60$37.50—$430.0033.07%$18.80$23.0010
370$31.70$34.90—$435.0033.46%$22.00$25.0052
0249$28.90$32.00—$440.0032.73%$23.10$27.5090
035$27.20$29.70—$445.0032.90%$26.00$30.0010
52314$24.80$26.9032.51%$450.00—$28.60$32.50260
017$22.20$25.4032.60%$455.00—————
278$19.50$22.4031.59%$460.00—$34.10$37.90110
0749$17.30$20.3031.24%$465.00—————
050$15.50$18.4031.08%$470.00—$40.00$43.90180
076$13.60$16.7030.82%$475.00—————
023$12.00$14.9030.52%$480.00—$46.70$50.6050
012$10.50$13.8030.57%$485.00—$49.80$54.5010
045$9.30$12.3030.41%$490.00—$53.70$58.00330
038$8.30$10.6030.09%$495.00—————

Forward $445.45. The 25-delta put carries +4.18 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 31.88%±80.01skew +2.96
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
028$116.20$120.10—$330.00—————
010$106.90$111.10—$340.00—————
018$98.10$102.20—$350.00—————
071$89.60$93.50—$360.00—————
066$81.00$85.00—$370.0034.52%$5.40$8.10420
025$73.00$77.00—$380.0034.11%$7.10$10.001970
062$65.70$68.40—$390.0033.85%$9.10$12.50900
294$58.30$61.00—$400.0033.02%$11.30$14.701091
034$51.60$54.70—$410.0032.72%$14.30$17.701201
026$44.90$48.00—$420.0032.53%$17.90$21.201381
052$39.10$41.80—$430.0032.47%$21.90$25.501080
1340$33.60$36.70—$440.0032.42%$26.20$30.50440
0194$28.60$32.0032.03%$450.00—$31.30$35.00640
0106$23.90$27.6031.67%$460.00—$36.70$40.40250
0277$19.90$23.0031.09%$470.00—$42.60$46.50620
075$17.00$20.3031.60%$480.00—$49.10$53.40250
090$13.10$16.1030.30%$490.00—$56.10$60.00380
0396$10.70$13.2030.05%$500.00—$64.40$67.501300
12353$8.00$9.1030.66%$520.00—$80.00$83.90160
0315$3.80$6.1029.27%$540.00—$98.30$101.5040
0248$2.70$4.3030.02%$560.00—$116.70$120.3050

Forward $447.11. The 25-delta put carries +2.96 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 32.24%±101.24
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$77.30$80.20—$385.00—————
011$73.70$77.30—$390.0033.54%$13.90$18.00310
03$70.20$73.90—$395.0033.41%$15.30$19.50100
06$66.80$70.10—$400.0033.30%$16.90$21.0070
02$63.60$66.80—$405.0033.38%$18.60$23.0060
01$60.40$64.20—$410.0033.09%$20.20$24.5080
05$57.20$60.30—$415.0033.05%$22.00$26.50360
07$54.20$57.40—$420.0033.05%$24.10$28.5050
01$51.30$54.90—$425.00—————
03$48.50$51.50—$430.0032.79%$28.30$32.5040
01$45.70$49.50—$435.00—————
05$43.00$46.50—$440.00—————
05$40.60$44.30—$445.0032.74%$35.30$40.0010
04$38.10$41.4032.59%$450.00—$37.80$42.4010
09$35.80$39.0032.45%$455.00—$40.50$45.3030
050$33.50$36.5032.19%$460.00—$43.20$48.0010
08$31.30$35.7032.58%$465.00—————
044$29.30$32.6032.05%$470.00—————
031$25.50$29.9032.29%$480.00—————
05$22.00$26.5032.08%$490.00—————
071$19.00$23.1031.80%$500.00—————

Forward $449.64. Not enough surviving quotes on both wings to measure the skew here.

2027-06-17(268 days)ATM 32.26%±125.57skew +2.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$128.20$131.40—$330.00—————
03$120.00$123.70—$340.0034.64%$7.60$12.0030
06$112.20$115.80—$350.0034.34%$9.30$14.00100
03$104.70$108.00—$360.0034.06%$11.50$16.0070
060$97.20$100.90—$370.0033.87%$13.90$18.50180
047$90.20$93.60—$380.0033.57%$16.60$21.00150
230$83.40$86.70—$390.0033.38%$19.60$24.00350
0103$77.10$80.60—$400.0033.27%$22.90$27.501730
012$70.90$74.10—$410.0033.08%$26.60$31.00200
08$64.70$68.20—$420.0032.96%$30.60$35.00220
011$59.50$62.20—$430.0032.94%$35.00$39.50160
07$54.20$57.70—$440.0032.90%$39.60$44.40440
0158$49.10$52.80—$450.0032.76%$44.50$49.30260
027$44.50$48.3032.58%$460.00—$50.00$54.50190
0169$40.20$43.8032.31%$470.00—$55.60$60.40300
026$36.20$39.9032.14%$480.00—$61.60$66.4010
03$32.50$37.1032.26%$490.00—$68.00$72.8010
0114$29.20$32.1031.59%$500.00—$74.70$79.0020
183$23.00$26.0031.17%$520.00—$89.30$93.10220
054$18.00$22.2031.34%$540.00—$104.40$108.4020
0149$14.00$18.0031.13%$560.00—$120.80$125.1070

Forward $454.18. The 25-delta put carries +2.25 volatility points over the 25-delta call.

2027-09-17(360 days)ATM 32.35%±147.67skew +2.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$320.0035.03%$7.50$12.0010
—————$330.0034.79%$9.00$14.0020
—————$360.0034.42%$16.80$20.0021
—————$390.0033.32%$24.00$29.0010
—————$400.0033.19%$27.50$32.5020
06$80.00$84.00—$410.00—————
04$74.00$78.50—$420.0033.26%$36.10$40.5030
02$68.80$73.50—$430.00—————
02$64.00$68.50—$440.00—————
01$59.00$63.00—$450.00—————
030$42.50$46.5032.28%$490.00—————
01$38.50$43.5032.18%$500.00—————
06$32.00$37.0031.89%$520.00—————
01$22.00$26.5031.54%$560.00—————
02$14.00$19.0031.05%$600.00—————

Forward $459.62. The 25-delta put carries +2.27 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.