Options Skew Analytics

HTZ option chain

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

Data as of 3 October 2025 (end of day)

2025-10-31(28 days)ATM 82.46%±1.43skew -2.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$4.5097.61%$0.05$0.1010842
05$1.35$1.45—$5.0087.20%$0.10$0.151853
1025$0.95$1.05—$5.5085.56%$0.20$0.3023588
1844$0.65$0.75—$6.0081.79%$0.40$0.45189191
192203$0.45$0.5082.61%$6.50—$0.70$0.8013111
256538$0.30$0.3585.12%$7.00—$1.00$1.151020
12181$0.20$0.2588.02%$7.50—$1.40$1.5040
—————$8.00—$1.85$1.9590
1127$0.05$0.1083.67%$8.50—————
234$0.05$0.1094.47%$9.00—$2.75$2.9010

Forward $6.28. The 25-delta put carries -2.46 volatility points over the 25-delta call.

2025-11-07(35 days)ATM 102.03%±1.97skew -15.76
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$1.45$1.55—$5.0097.81%$0.20$0.25471
015$1.10$1.20—$5.5095.14%$0.35$0.406645
01$0.85$0.95—$6.0098.92%$0.60$0.651185
91$0.60$0.75101.63%$6.50—$0.85$1.00240
12245$0.50$0.55104.47%$7.00—$1.20$1.30200
546$0.35$0.45105.66%$7.50—————
720$0.25$0.35106.07%$8.00—$2.00$2.10100
012$0.20$0.30110.90%$8.50—————
72$0.15$0.25113.24%$9.00—————
—————$9.50—$3.30$3.5010
—————$10.00—$3.80$4.70120
—————$11.00—$4.70$4.9020

Forward $6.25. The 25-delta put carries -15.76 volatility points over the 25-delta call.

2025-11-21(49 days)ATM 98.86%±2.26skew -8.56
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$4.20$6.80—$1.00—————
02$4.10$5.80—$2.00—————
041$2.20$2.40—$4.00107.74%$0.10$0.1550
1182$1.30$1.65—$5.0098.46%$0.30$0.3543167
272,362$0.95$1.05—$6.0098.16%$0.70$0.80505299
1,01725,824$0.60$0.6599.42%$7.00—$1.30$1.405777
43639$0.35$0.45102.27%$8.00—$2.05$2.202400
1723,767$0.25$0.30107.02%$9.00—$2.95$3.10292
12291$0.15$0.20107.67%$10.00—$3.80$4.00981
961$0.10$0.15111.21%$11.00—$4.80$4.90260

Forward $6.25. The 25-delta put carries -8.56 volatility points over the 25-delta call.

2025-12-19(77 days)ATM 92.43%±2.64skew -1.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
012$5.20$7.00—$0.50—————
0178$4.70$4.80—$1.50—————
04$3.90$4.40—$2.00—————
0168$3.70$3.90—$2.50—————
0347$3.20$3.40—$3.00—————
510,553$2.80$2.95—$3.50105.20%$0.10$0.151,8340
1139,036$2.35$2.50—$4.00100.08%$0.15$0.2532,5300
0547$1.95$2.10—$4.5095.11%$0.25$0.354010
08,152$1.60$1.75—$5.0092.75%$0.40$0.501,8251
2887$1.30$1.45—$5.5089.14%$0.60$0.652,70527
4433,417$1.05$1.20—$6.0091.48%$0.85$0.952,01847
637,154$0.60$0.6592.98%$7.50—$1.80$1.952,04926
1521,250$0.30$0.4094.48%$9.00—$3.00$3.209650
83,582$0.20$0.3096.62%$10.00—$3.90$4.101,2100
1221,165$0.15$0.25101.21%$11.00—$4.80$5.003350
—————$12.00—$4.90$7.4030
—————$12.50—$6.30$6.50200
—————$14.00—$7.70$8.0040
—————$15.00—$8.70$8.9010
—————$17.50—$11.20$11.4070
—————$22.50—$16.20$16.4050

Forward $6.23. The 25-delta put carries -1.73 volatility points over the 25-delta call.

2026-01-16(105 days)ATM 88.50%±2.96skew -0.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
088$3.00$4.40—$2.00—————
0323$3.70$3.90—$2.50116.51%$0.05$0.107,9690
03,287$3.20$3.50—$3.00109.69%$0.10$0.1514,6380
514,407$2.85$2.95—$3.50104.84%$0.15$0.257,8560
515,692$2.40$2.55—$4.00100.53%$0.25$0.3515,9550
1416$2.05$2.20—$4.5093.49%$0.35$0.4518,9710
56220,234$1.70$1.85—$5.0089.61%$0.50$0.6015,031150
—————$5.5087.58%$0.70$0.808,162171
36649,931$0.70$0.8089.01%$7.50—$1.95$2.054,0306
344,608$0.45$0.5091.80%$9.00—$3.10$3.306170
1313,904$0.25$0.4090.30%$10.00—$4.00$4.205,2230
—————$11.00—$4.90$5.101,0710
—————$12.50—$6.30$6.602590
—————$14.00—$7.80$8.00610
—————$15.00—$8.70$9.00590
—————$16.00—$9.70$10.00140
—————$17.50—$11.20$11.50470
—————$20.00—$13.70$13.90110
—————$30.00—$23.60$23.90120

Forward $6.24. The 25-delta put carries -0.69 volatility points over the 25-delta call.

2026-03-20(168 days)ATM 85.47%±3.60skew +5.13
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
045$3.30$3.50—$3.0099.78%$0.15$0.254530
—————$4.0094.78%$0.40$0.505,164152
0279$1.90$2.10—$5.0091.31%$0.75$0.90270
3190$1.40$1.60—$6.0087.41%$1.20$1.4021010
—————$7.00—$1.80$2.008061
0291$0.75$0.9585.17%$8.00—$2.55$2.753,4960
0835$0.55$0.7585.13%$9.00—$3.30$3.601790
3188$0.50$0.6088.60%$10.00—$4.10$4.402180
169$0.30$0.5086.18%$11.00—$5.00$5.302120
013$0.35$0.4593.37%$12.00—$5.90$6.201750
—————$13.00—$6.90$7.10200
—————$14.00—$7.80$8.10170
—————$15.00—$8.80$9.10130
—————$16.00—$9.80$10.0010

Forward $6.20. The 25-delta put carries +5.13 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.