Options Skew Analytics

IBB 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 21.12%±11.46skew +0.54
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$29.60$33.60—$180.00—————
01$24.90$27.40—$185.00—————
015$21.00$23.70—$189.00—————
08$20.10$22.80—$190.00—————
02$15.20$18.20—$195.00—————
01$13.70$16.40—$197.00—————
01$12.80$15.30—$198.00—————
137$11.30$13.50—$200.0022.79%$0.95$1.2033712
1,3011,053$8.20$9.10—$205.0021.50%$1.65$2.402291
136119$5.10$5.60—$210.0021.08%$3.50$4.1019621
251570$3.00$3.2021.22%$215.00—$5.90$6.8023341
28373$1.35$1.8020.97%$220.00—$9.50$11.401330
4171$0.60$0.9521.33%$225.00—$13.30$15.7040

Forward $211.55. The 25-delta put carries +0.54 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 22.26%±18.96skew +0.22
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
020$17.60$20.10—$195.00—————
—————$197.0022.18%$1.65$2.60810
—————$198.0022.06%$1.85$2.80364
—————$199.0022.96%$2.50$3.10122
—————$200.0022.69%$2.70$3.302925
—————$205.0022.60%$4.30$4.90122
23$7.40$9.40—$210.0022.22%$6.20$7.0006
33$5.40$6.8022.29%$215.00—————
07$3.50$4.9022.05%$220.00—————
210$2.50$3.4022.47%$225.00—————
20$1.65$2.3522.70%$230.00—————
10$1.10$1.5022.78%$235.00—————
100$0.65$1.0022.86%$240.00—————

Forward $211.81. The 25-delta put carries +0.22 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 22.48%±23.37skew +2.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
040$36.00$39.20—$175.00—————
05$35.50$38.50—$176.00—————
08$34.50$37.60—$177.00—————
02$32.30$35.90—$179.00—————
0118$31.50$34.70—$180.00—————
05$30.50$34.30—$181.00—————
0223$30.00$32.80—$182.00—————
02$28.00$31.40—$184.00—————
06$26.80$30.50—$185.00—————
016$26.00$29.30—$186.00—————
0138$23.00$26.40—$190.0023.49%$1.50$2.351831
074$19.00$22.40—$195.0024.02%$2.80$3.40470
0386$15.50$18.90—$200.0023.47%$4.00$4.60343
034$12.20$15.90—$205.0022.04%$4.70$6.302250
6450$9.40$12.10—$210.0022.76%$7.40$8.40590
1152$7.80$8.7022.40%$215.00—$9.70$10.90690
1301$5.00$6.6021.24%$220.00—$13.00$15.40520
1126$3.50$5.0021.30%$225.00—$15.90$18.6010
143$2.40$3.7021.36%$230.00—————
0210$1.60$2.6521.34%$235.00—————
1692$1.10$1.5523.20%$245.00—————

Forward $212.93. The 25-delta put carries +2.11 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 23.24%±34.73skew +1.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$62.50$65.40—$150.00—————
010$53.00$56.20—$160.00—————
01$43.80$47.10—$170.00—————
01$39.50$42.20—$175.00—————
110$35.50$37.90—$180.00—————
01$33.60$37.10—$182.00—————
01$33.00$35.50—$183.00—————
02$30.50$33.10—$186.00—————
01$28.30$30.80—$189.00—————
19$27.50$30.00—$190.00—————
—————$193.0024.46%$4.30$7.10110
02$22.50$24.90—$197.00—————
037$20.50$22.90—$200.0024.01%$6.30$9.30370
01$17.00$19.80—$205.0022.69%$7.40$10.702380
58$14.70$17.30—$210.0022.99%$9.60$13.301790
0154$11.60$14.2022.95%$215.00—$13.20$14.70730
1183$10.90$11.9023.97%$220.00—$16.00$18.50110
058$8.50$9.9023.33%$225.00—————
040$5.30$8.5022.02%$230.00—$21.00$25.0020
021$4.00$5.6022.69%$240.00—————
01,940$2.65$4.1023.44%$250.00—$37.50$41.5010

Forward $213.93. The 25-delta put carries +1.78 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.