Options Skew Analytics

HPE 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 90.23%±4.53skew +7.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
916$5.80$6.75—$42.0098.17%$0.19$0.245539
—————$42.5098.74%$0.24$0.323644
03$5.05$6.35—$43.0097.57%$0.30$0.382113
223$4.70$5.75—$43.5095.10%$0.34$0.452031
1314$4.30$5.20—$44.0095.40%$0.45$0.5415479
—————$44.5095.89%$0.54$0.691331
92121$3.55$4.00—$45.0095.50%$0.70$0.78872,102
4147$3.20$3.35—$45.5093.48%$0.79$0.928018
40143$2.84$3.45—$46.0095.06%$1.00$1.102602,253
2136$2.48$2.70—$46.5092.19%$1.10$1.2770335
12579$2.23$2.57—$47.0091.28%$1.29$1.465762,229
14429$1.97$2.10—$47.5091.08%$1.50$1.7082121
39641$1.72$1.8490.28%$48.00—$1.74$1.93291366
14335$1.50$1.6090.14%$48.50—$1.91$2.255278
632349$1.29$1.3989.92%$49.00—$2.30$2.4645117
1,09240$1.09$1.4395.37%$49.50—$2.52$2.7610640
5123,733$0.93$1.0188.83%$50.00—$2.85$3.1524533
607133$0.65$0.7187.80%$51.00—$3.55$3.802306
600174$0.45$0.5087.82%$52.00—$3.90$4.7511951
219188$0.31$0.4090.47%$53.00—$4.45$5.703702
428213$0.21$0.2890.93%$54.00—$5.80$6.602427

Forward $47.94. The 25-delta put carries +7.70 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 77.58%±6.47skew +7.64
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0163$6.45$7.85—$42.0085.28%$0.60$0.711,36752
0—$4.90$7.50—$42.5082.23%$0.58$0.81—0
0138$5.70$6.70—$43.0083.57%$0.76$0.9255042
0—$4.45$6.50—$43.5083.44%$0.76$1.17—7
0225$4.95$6.40—$44.0082.83%$1.01$1.1734127
2—$4.55$4.80—$44.5082.87%$1.01$1.48—1
113747$4.15$4.45—$45.0082.07%$1.32$1.462,21682
1—$3.95$4.55—$45.5077.34%$1.22$1.64—0
18230$3.60$3.80—$46.0081.19%$1.64$1.844,59683
8—$3.35$3.85—$46.5079.77%$1.77$2.04—52
68133$3.05$3.60—$47.0080.57%$2.06$2.255,401137
4—$2.78$2.93—$47.5078.14%$2.14$2.49—201
91376$2.54$2.83—$48.0080.13%$2.55$2.727127
20—$2.30$2.4477.57%$48.50—$2.63$2.99—15
5331$2.07$2.2677.88%$49.00—$2.96$3.306489
5—$1.85$2.0076.67%$49.50—$3.15$3.55—0
2011,979$1.67$1.8176.69%$50.00—$3.65$3.907,631210
1030$1.33$1.4576.03%$51.00—$4.15$4.551960
26171$1.05$1.1675.76%$52.00—$4.65$5.252090
3146$0.81$0.9175.18%$53.00—$5.25$6.155140
77361$0.61$0.7174.64%$54.00—$6.10$7.002,0142

Forward $48.05. The 25-delta put carries +7.64 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 89.99%±9.63skew +6.95
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$42.0094.02%$1.36$1.51019
0—$6.05$8.20—$42.5090.23%$1.24$1.68—0
—————$43.0093.16%$1.62$1.8118
0—$6.25$6.80—$43.5089.82%$1.45$2.08—0
02$5.95$6.95—$44.0093.77%$2.02$2.15358
0—$4.75$6.80—$44.5091.52%$1.96$2.42—1
2055$5.35$5.85—$45.0092.35%$2.32$2.5222149
1—$4.90$5.50—$45.5089.58%$2.21$2.83—0
01$4.75$5.25—$46.0092.49%$2.74$2.9715156
0—$3.45$5.00—$46.5092.24%$2.95$3.20—144
31$4.15$4.70—$47.0091.26%$3.15$3.401282
6—$3.95$4.45—$47.5087.67%$3.10$3.65—0
114$3.70$4.25—$48.0091.57%$3.70$3.9064158
122—$3.50$4.0091.64%$48.50—$3.75$4.20—74
186$3.25$3.7090.30%$49.00—$3.30$4.451055
0—$2.95$3.5089.31%$49.50—$3.70$4.75—1
46160$2.86$3.1088.20%$50.00—$4.70$5.0524115
—————$51.00—$5.15$5.75321
839$2.14$2.3787.51%$52.00—$6.00$6.354587
7263$1.83$2.0186.48%$53.00—$6.25$7.151731
6679$1.57$1.7386.21%$54.00—$7.45$7.801489

Forward $48.18. The 25-delta put carries +6.95 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 84.06%±10.58skew +7.65
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$9.55$12.15—$38.00—————
—————$39.0088.35%$0.90$1.08230
038$7.90$10.45—$40.0088.17%$1.12$1.311997
—————$41.0092.56%$1.24$2.042424
—————$42.0088.44%$1.50$2.0830
—————$43.0084.54%$1.75$2.1850
02$6.35$7.45—$44.00—————
241$5.70$6.30—$45.0085.84%$2.70$2.8915038
2425$5.15$5.60—$46.0087.60%$3.05$3.604532
011$3.60$5.20—$47.0086.35%$3.60$3.9087
43$4.15$4.35—$48.0084.39%$3.90$4.452111
18687$3.70$3.9084.17%$49.00—$4.60$4.9096231
138109$3.25$3.5083.73%$50.00—$5.00$5.45951
234$2.90$3.6088.65%$51.00—$5.55$6.306240
15682$2.53$2.7182.67%$52.00—$5.85$6.8590
29$2.14$2.6083.78%$53.00—$6.95$7.60160
1147$1.93$2.0881.80%$54.00—$7.30$8.15241
5759$1.67$1.8381.53%$55.00—$8.45$9.202040
01,085$1.45$1.9685.63%$56.00—$9.20$9.75161
—————$57.00—$8.90$11.50140
3514$0.97$1.3180.79%$58.00—$9.45$12.3050

Forward $48.08. The 25-delta put carries +7.65 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 84.85%±12.07skew +5.01
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$10.00$12.50—$38.00—————
—————$40.0085.01%$1.28$1.70485
—————$41.0084.09%$1.45$2.0305
—————$42.0083.97%$1.70$2.4102
—————$43.0084.40%$2.16$2.702110
—————$44.0078.11%$1.91$3.10411
01$5.40$7.35—$45.00—————
80$4.90$6.85—$46.0081.93%$3.00$4.15831
34$3.90$6.30—$47.0081.61%$3.30$4.801110
31$4.45$4.75—$48.0081.12%$4.20$4.90200
—————$49.00—$4.55$6.40210
9223$3.60$4.5086.21%$50.00—$5.30$6.05111
10$3.05$4.7590.16%$51.00—$5.75$6.708150
81$2.80$3.6083.80%$52.00—$6.50$7.2571
—————$53.00—$6.65$8.0530
335$2.00$3.1583.37%$54.00—$7.55$9.15212
337$1.92$2.4180.50%$55.00—$8.05$10.35440
—————$56.00—$8.70$10.3070
11$1.31$1.9078.06%$57.00—$9.20$11.9090
72$1.25$1.6778.97%$58.00—$10.85$11.7023
—————$59.00—$10.75$13.1080

Forward $48.05. The 25-delta put carries +5.01 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 78.30%±12.30skew +5.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
089$15.20$17.75—$32.00—————
073$14.25$16.85—$33.0085.71%$0.39$0.5347420
055$13.70$15.75—$34.0085.71%$0.50$0.67863
0277$12.80$15.00—$35.0083.96%$0.61$0.763,978164
018$12.00$14.20—$36.0084.07%$0.77$0.9411621
037$10.85$13.35—$37.0082.51%$0.94$1.058757
8156$11.00$12.20—$38.0082.37%$1.14$1.2717817
011$9.25$11.75—$39.0079.68%$1.16$1.522470
1328$9.40$10.10—$40.0080.80%$1.57$1.743,788222
28$8.70$9.85—$41.0081.28%$1.94$2.0211016
0133$7.45$9.30—$42.0080.66%$2.25$2.3225621
383$7.50$8.20—$43.0079.58%$2.54$2.6531797
9502$6.90$7.35—$44.0079.79%$2.96$3.056211,221
12382$6.30$7.10—$45.0079.56%$3.35$3.501,34541
1299$5.75$6.65—$46.0078.45%$3.70$3.954377
0140$5.25$6.00—$47.0078.08%$4.20$4.4066812
48135$4.75$5.10—$48.0078.80%$4.80$4.951,033132
9289$4.30$4.7579.32%$49.00—$5.05$5.5559171
427828$3.90$4.1577.75%$50.00—$5.90$6.051,43935
1919,409$2.21$2.4275.59%$55.00—$8.90$9.402,7043
2618,222$1.23$1.3674.98%$60.00—$13.00$13.401,85211

Forward $48.05. The 25-delta put carries +5.69 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 74.38%±12.61skew +7.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$12.00$14.45—$36.00—————
0—$11.05$13.65—$37.0082.81%$0.91$1.46—21
0—$10.30$12.85—$38.00—————
—————$39.0081.49%$1.36$1.8822
—————$40.0080.84%$1.66$2.0908
—————$42.0078.83%$2.04$2.8102
11$7.65$8.30—$43.00—————
—————$44.0078.83%$3.00$3.4002
04$6.35$7.15—$45.0079.07%$3.35$3.9522
33$4.40$6.65—$47.00—————
—————$48.0078.39%$4.60$5.60150
—————$49.00—$5.20$6.0511
2212$4.10$4.4574.38%$50.00—$5.35$6.6050
01$3.70$5.0081.15%$51.00—$6.30$8.2510
—————$53.00—$7.55$8.5001
10$2.63$4.0580.85%$54.00—————
23$2.43$2.8073.90%$55.00—$8.80$9.8511
—————$57.00—$10.60$11.3001
—————$58.00—$11.35$12.15220
10$1.21$2.0071.56%$59.00—$10.55$13.2011
20$1.28$1.6071.63%$60.00—$11.70$14.6501

Forward $48.29. The 25-delta put carries +7.27 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 70.42%±14.55skew +5.87
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0244$15.80$18.10—$32.00—————
0609$14.60$17.25—$33.0079.03%$0.79$0.96702
0278$14.10$16.15—$34.0074.46%$0.71$1.051691
210,247$14.00$15.50—$35.0076.83%$1.09$1.241,36318
0109$12.10$14.75—$36.0079.45%$1.19$1.832410
0533$11.70$13.55—$37.0075.93%$1.52$1.653,6351
0226$10.55$13.20—$38.0075.31%$1.76$1.882223
076$11.05$12.40—$39.0075.00%$2.03$2.1614912
62,875$10.30$11.20—$40.0074.35%$2.31$2.441,982251
033$8.80$11.10—$41.0074.33%$2.39$3.051890
144$9.00$9.55—$42.0073.98%$2.99$3.152571
059$8.40$9.25—$43.0073.04%$2.86$3.951831
0152$6.95$9.00—$44.0072.59%$3.40$4.202260
82,084$7.25$7.85—$45.0072.52%$4.15$4.351,643228
9182$6.75$7.30—$46.0074.33%$4.35$5.406,7780
0106$6.25$6.75—$47.0072.59%$5.05$5.455,18830
18110$5.75$6.15—$48.0071.80%$5.65$5.8051153
6142$5.30$5.9573.07%$49.00—$6.00$6.4544134
2112,408$4.90$5.1570.65%$50.00—$6.80$7.009,3417
5562,210$3.15$3.4069.47%$55.00—$9.85$10.252,7200
1689,747$2.03$2.0968.46%$60.00—$13.45$14.053,6343

Forward $48.23. The 25-delta put carries +5.87 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.