Options Skew Analytics

IBB option chain

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

Data as of 9 November 2026 (end of day)

2026-12-18(39 days)ATM 26.97%±19.47skew +2.33
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$38.50$41.30—$181.00—————
0223$37.50$40.10—$182.00—————
07$36.20$39.60—$183.00—————
03$35.70$38.10—$184.00—————
08$34.70$37.10—$185.00—————
018$33.70$36.10—$186.00—————
014$33.10$35.40—$187.00—————
05$31.80$34.20—$188.00—————
01$30.90$33.30—$189.00—————
0158$29.90$32.60—$190.00—————
1584$25.40$27.70—$195.0030.31%$0.80$1.251,30332
17433$21.00$23.50—$200.0029.36%$1.40$1.751,62027
055$16.90$19.10—$205.0028.96%$2.30$2.651,07416
0474$13.80$14.70—$210.0028.43%$3.40$4.001261
0144$10.30$11.50—$215.0027.95%$5.00$5.703021
15487$7.90$8.50—$220.0027.24%$6.90$7.90244207
111330$5.50$6.0026.47%$225.00—$9.40$10.60130
2588$3.70$4.1026.04%$230.00—————
8429$2.50$2.7526.10%$235.00—$16.20$17.40220
246$1.60$1.8526.23%$240.00—$20.40$22.80110
8354$0.95$1.3026.51%$245.00—————

Forward $220.80. The 25-delta put carries +2.33 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 26.65%±25.27skew +2.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
037$63.90$67.90—$155.00—————
06$61.00$65.00—$158.00—————
637$59.30$63.10—$160.00—————
076$54.20$58.10—$165.00—————
0489$50.00$52.30—$170.00—————
22237$46.30$47.30—$175.00—————
0182$40.30$42.70—$180.00—————
037$35.70$38.00—$185.00—————
095$31.20$33.60—$190.0029.07%$1.15$1.552730
184$26.90$29.20—$195.0028.61%$1.75$2.207410
61,770$22.80$24.90—$200.0028.17%$2.55$3.101,9150
0640$19.20$21.10—$205.0027.95%$3.70$4.305640
2195$16.40$17.70—$210.0027.74%$5.10$5.902800
51,499$13.10$14.30—$215.0027.38%$6.80$7.8021410
44458$10.10$11.40—$220.0026.96%$8.90$10.009111
6323$7.80$8.8026.50%$225.00—$11.40$12.60790
9397$6.00$6.8026.49%$230.00—$14.50$16.30270
1219$4.00$5.1025.59%$235.00—$17.60$19.60160
0180$2.75$4.0025.69%$240.00—$21.50$23.9001
031$1.90$2.7025.13%$245.00—$25.40$28.1010
363$1.55$1.9525.76%$250.00—————

Forward $221.31. The 25-delta put carries +2.27 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 25.87%±34.36skew +5.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$40.00$43.10—$183.00—————
02$37.70$40.40—$186.00—————
04$34.80$37.90—$189.0028.73%$2.60$3.70120
020$34.50$36.70—$190.0028.43%$2.70$3.80330
—————$195.0028.60%$3.60$5.203370
—————$196.0028.07%$3.80$5.10660
02$29.00$31.20—$197.0028.46%$4.30$5.40150
02$28.20$30.80—$198.0028.17%$4.50$5.501820
—————$199.0030.11%$4.80$7.30910
066$26.70$28.90—$200.0028.28%$5.10$6.103003
211$23.10$25.20—$205.0027.91%$6.40$7.602440
027$19.70$21.90—$210.0027.57%$8.00$9.302580
25198$16.60$18.80—$215.0027.22%$9.80$11.30730
14144$14.30$16.00—$220.0026.74%$12.00$13.30110
3151$11.30$13.5025.89%$225.00—————
151$9.10$11.3025.57%$230.00—$17.20$19.6020
3131$8.10$9.2026.00%$235.00—————
184$6.10$7.5025.33%$240.00—————
08$4.40$5.9024.49%$245.00—————
12,224$4.00$4.7025.10%$250.00—————
030$2.55$3.6024.02%$255.00—————

Forward $222.54. The 25-delta put carries +5.02 volatility points over the 25-delta call.

2027-05-21(193 days)ATM 26.52%±43.06skew +2.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$67.30$69.70—$155.00—————
02$62.70$65.20—$160.00—————
01$53.90$56.60—$170.00—————
032$49.70$52.20—$175.00—————
01$45.50$48.10—$180.00—————
01$38.00$40.10—$190.0028.41%$4.60$5.70840
013$30.40$32.70—$200.00—————
01$27.00$29.20—$205.0027.81%$8.60$10.2040
04$23.70$25.80—$210.0027.66%$10.50$12.0020
18$20.60$23.00—$215.00—————
516$17.70$20.10—$220.00—————
02$15.00$17.3026.72%$225.00—————
01$12.60$15.0026.28%$230.00—$18.80$21.9010
08$10.50$12.7025.73%$235.00—————
13$8.60$10.7025.23%$240.00—————
010$5.40$7.8024.58%$250.00—————
02$3.70$5.9024.98%$260.00—————

Forward $223.30. The 25-delta put carries +2.84 volatility points over the 25-delta call.

2027-08-20(284 days)ATM 25.39%±50.61skew +4.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$56.40$59.50—$170.00—————
03$44.60$47.80—$185.00—————
—————$195.0027.90%$7.10$9.7020
—————$200.0027.87%$8.50$11.5010
218$27.70$29.80—$210.00—————
012$24.60$27.50—$215.0027.09%$13.80$17.00100
01$19.20$21.50—$225.00—————
15$16.70$19.1025.53%$230.00—————
15$12.50$14.7024.81%$240.00—————
—————$245.00—$30.40$32.5010
01$8.70$11.3024.06%$250.00—————
01$4.50$6.6023.84%$270.00—————

Forward $226.01. The 25-delta put carries +4.06 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.