Options Skew Analytics

HPQ 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 61.08%±1.82skew +0.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
50$5.35$5.75—$23.00—————
41$4.40$4.75—$24.00—————
13$3.35$4.25—$25.0072.85%$0.01$0.061086
—————$26.0063.97%$0.06$0.082295
—————$26.5064.34%$0.11$0.15293
122$1.56$2.45—$27.0061.87%$0.18$0.2216923
382$1.27$1.39—$27.5060.74%$0.28$0.3514795
293$0.94$1.07—$28.0059.57%$0.44$0.5125650
9037$0.67$0.80—$28.5061.14%$0.65$0.791,47375
151122$0.44$0.5760.12%$29.00—$0.93$1.0649112
61167$0.28$0.4160.69%$29.50—$1.27$1.3912810
2,3012,969$0.18$0.2660.29%$30.00—$1.62$1.7940019
167196$0.11$0.1861.51%$30.50—$2.07$2.322370
—————$31.00—$2.53$2.73823
—————$31.50—$2.38$3.65150
—————$32.00—$3.10$3.65833
23121$0.02$0.0366.63%$32.50—$3.35$4.30792
—————$33.00—$3.85$5.15602
—————$33.50—$4.55$5.20293
—————$34.00—$4.85$5.751771
—————$34.50—$5.35$7.35130

Forward $28.52. The 25-delta put carries +0.45 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 55.55%±2.75skew -2.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0135$5.45$7.30—$23.00—————
1312$4.40$5.00—$24.00—————
141,495$3.55$4.20—$25.00—————
—————$25.5056.12%$0.13$0.201161
4592$2.60$3.35—$26.0056.12%$0.22$0.2759251
02$2.10$3.40—$26.5056.72%$0.33$0.3925414
2427$1.97$2.14—$27.0053.49%$0.40$0.493,032103
111$1.56$1.82—$27.5055.98%$0.60$0.71885148
3496$1.31$1.49—$28.0055.21%$0.78$0.914,347194
20414$1.05$1.14—$28.5055.43%$1.02$1.16130109
431,111$0.82$0.9556.07%$29.00—$1.29$1.4412,583246
1233$0.63$0.8458.10%$29.50—$1.59$1.77163162
573,204$0.48$0.5654.92%$30.00—$1.95$2.141,5310
3296$0.37$0.4555.89%$30.50—$2.17$2.511931
1361,972$0.27$0.3355.30%$31.00—$2.63$2.999496
32368$0.20$0.2957.24%$31.50—$2.46$3.351500
784,719$0.15$0.2157.16%$32.00—$3.05$3.8588010
—————$32.50—$3.35$4.40301
—————$33.00—$3.95$5.354842
—————$33.50—$4.25$6.60490
152,040$0.05$0.0860.90%$34.00—$4.90$6.651130

Forward $28.51. The 25-delta put carries -2.41 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 64.82%±4.12skew +1.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$3.65$5.65—$25.0066.95%$0.35$0.448360
0—$3.25$5.05—$25.50—————
55$2.93$3.65—$26.0066.27%$0.57$0.685614
0—$2.72$3.00—$26.50—————
28$2.45$3.00—$27.0065.90%$0.90$0.9970921
0—$2.14$2.37—$27.5066.15%$1.05$1.25—0
1122$1.85$2.10—$28.0065.20%$1.29$1.413649
0—$1.60$1.86—$28.5066.70%$1.51$1.76—0
255$1.38$1.5164.43%$29.00—$1.81$1.944530
0—$1.03$1.4263.80%$29.50—$2.08$2.33—0
3179$0.99$1.0863.44%$30.00—$2.41$2.663307
0—$0.81$1.0766.17%$30.50—$2.43$2.99—0
2492$0.69$0.7963.60%$31.00—$3.10$3.35591
2—$0.56$0.7966.25%$31.50—$3.10$3.90—0
30228$0.52$0.5765.14%$32.00—$3.30$4.85571
0—$0.38$0.5766.30%$32.50—$3.70$5.55—0
673,074$0.36$0.4165.70%$33.00—$4.15$5.70300
1—$0.26$0.4166.81%$33.50—$4.40$6.60—0
—————$34.00—$5.05$6.95150
—————$34.50—$5.40$7.45—0
29143$0.20$0.2971.81%$35.00—$5.90$7.8010

Forward $28.60. The 25-delta put carries +1.14 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 61.12%±4.57skew +0.22
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$24.0065.68%$0.28$0.4431
01$3.90$5.75—$25.0062.80%$0.47$0.551555
02$3.20$3.50—$26.0061.38%$0.69$0.80551
012$2.61$2.87—$27.0061.32%$1.03$1.15162
350$2.07$2.18—$28.0061.87%$1.43$1.65150
1043$1.58$1.6961.11%$29.00—$1.96$2.123083
34$1.18$1.3060.97%$30.00—$2.56$2.811,7343
313$0.88$0.9660.74%$31.00—$3.20$3.55520
0138$0.62$0.7561.16%$32.00—$4.00$4.301741
189$0.47$0.5561.83%$33.00—$4.30$5.30880
217$0.30$0.4762.90%$34.00—$5.10$6.953170
—————$35.00—$6.05$7.9510
—————$37.00—$7.65$9.7560
—————$38.00—$8.70$10.651010

Forward $28.59. The 25-delta put carries +0.22 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 62.46%±5.25skew -3.76
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$25.0059.17%$0.50$0.774230
—————$26.0060.44%$0.90$1.045163
—————$27.0057.15%$1.11$1.391226
—————$28.0055.56%$1.39$1.9217625
1288$1.66$2.0062.89%$29.00—$2.26$2.6229172
237$1.29$1.6663.69%$30.00—$2.47$3.1543174
424$0.99$1.1861.33%$31.00—————
1844$0.74$1.0062.66%$32.00—$3.75$5.35201
147132$0.55$0.8664.20%$33.00—$4.70$7.0010
312279$0.40$0.6262.97%$34.00—$5.35$7.6010
1701,077$0.30$0.4963.59%$35.00—$6.25$8.15110
—————$36.00—$6.80$9.0010

Forward $28.39. The 25-delta put carries -3.76 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 56.18%±5.23skew +2.81
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$9.90$11.75—$18.00—————
0122$9.10$10.80—$19.00—————
0227$8.45$9.40—$20.00—————
0269$7.55$8.40—$21.00—————
058$6.50$7.55—$22.00—————
0525$5.60$6.40—$23.0060.41%$0.31$0.406301
1336$4.85$5.85—$24.0059.33%$0.48$0.5658714
711,959$4.15$4.35—$25.0059.07%$0.71$0.817,877106
—————$26.0058.91%$1.03$1.1124114
028$2.80$3.15—$27.0060.56%$1.37$1.662,23027
01,623$2.24$2.59—$28.0059.02%$1.87$1.986,44418
32452$1.81$1.8956.16%$29.00—$2.39$2.53732348
2193,535$1.40$1.4955.69%$30.00—$2.94$3.306,2173
2661,823$1.08$1.1955.97%$31.00—$3.60$4.007355
1451,650$0.82$0.9155.67%$32.00—$4.40$4.702,5153
61,261$0.62$0.7356.27%$33.00—$4.70$5.552311
211,091$0.46$0.6057.05%$34.00—$5.50$6.552280
83,348$0.34$0.5158.22%$35.00—$6.30$7.451781
—————$36.00—$7.05$8.4020
11,180$0.21$0.3059.21%$37.00—$8.15$9.30670
1341,241$0.18$0.2661.24%$38.00—$8.90$10.20150

Forward $28.49. The 25-delta put carries +2.81 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 51.33%±6.27skew +1.42
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$9.55$10.35—$19.00—————
23,804$8.60$9.35—$20.00—————
01,640$7.70$8.40—$21.00—————
0182$6.80$7.60—$22.0056.11%$0.34$0.514951
02,737$5.95$6.65—$23.0056.90%$0.52$0.766,5090
2134$5.15$6.15—$24.0054.57%$0.74$0.883631
102,447$4.45$4.70—$25.0053.79%$1.01$1.143,5491
03$3.80$4.20—$26.0053.60%$1.36$1.482010
011$3.20$3.60—$27.0053.37%$1.77$1.883,3820
05,632$2.65$3.00—$28.0053.51%$2.24$2.3894124
7225$2.21$2.3251.28%$29.00—$2.77$2.898601
497,794$1.82$1.9651.66%$30.00—$3.30$3.606460
7265$1.47$1.6051.27%$31.00—$4.00$4.353340
22,225$1.19$1.4152.39%$32.00—$4.25$5.002250
0585$0.95$1.2453.28%$33.00—$5.50$5.809840
1570$0.75$0.9652.37%$34.00—$5.80$6.652000
314,370$0.60$0.7351.72%$35.00—$6.75$7.503070
0477$0.46$0.6652.68%$36.00—$7.40$8.55100
257,089$0.38$0.4551.53%$37.00—$8.15$9.50960
0413$0.29$0.4553.29%$38.00—$9.15$10.35470
24161$0.24$0.3954.23%$39.00—————

Forward $28.52. The 25-delta put carries +1.42 volatility points over the 25-delta call.

2027-02-19(102 days)ATM 49.64%±7.53skew +3.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
08$10.50$11.40—$18.00—————
01$8.35$9.60—$20.00—————
09$7.55$8.90—$21.00—————
010$6.55$8.20—$22.0054.70%$0.56$0.82650
026$6.05$7.25—$23.00—————
017$5.50$6.25—$24.0053.62%$1.01$1.331,0960
0107$4.85$5.50—$25.0052.51%$1.39$1.511970
60105$4.25$4.65—$26.0052.67%$1.74$1.94770
034$3.65$4.20—$27.0053.54%$2.16$2.491960
4376$3.20$3.60—$28.0051.92%$2.65$2.791,79732
0209$2.68$3.3552.63%$29.00—$3.15$3.451,6618
5398$2.34$2.4448.90%$30.00—$3.75$4.152040
8369$1.97$2.0948.81%$31.00—$4.40$4.751704
0263$1.67$1.7848.88%$32.00—$5.05$5.401330
0655$1.41$1.5249.03%$33.00—$5.80$6.1523819
1243$1.18$1.2949.06%$34.00—$6.55$7.001730
101,143$0.99$1.1049.25%$35.00—$7.45$7.85960
3584$0.83$0.9349.36%$36.00—$8.30$8.60880
5359$0.69$0.7949.49%$37.00—$9.05$9.45460
063$0.50$0.7352.32%$39.00—————
—————$40.00—$11.25$12.40110

Forward $28.71. The 25-delta put carries +3.27 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.