Options Skew Analytics

IEF 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 7.19%±0.69skew -0.17
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
025$11.75$11.90—$80.00—————
025$10.75$10.90—$81.00—————
05$8.25$8.40—$83.50—————
05$7.75$7.90—$84.00—————
6274$1.30$1.37—$90.508.27%$0.01$0.023,50010
0262$0.83$0.89—$91.007.29%$0.03$0.05375312
1216$0.44$0.49—$91.507.16%$0.13$0.153112
3130$0.19$0.217.21%$92.00—$0.35$0.391,9840
4331,603$0.06$0.077.33%$92.50—————
122$0.01$0.037.83%$93.00—$1.20$1.2710

Forward $91.83. The 25-delta put carries -0.17 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 6.41%±1.02skew -0.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$5.80$6.00—$86.00—————
02$3.85$4.00—$88.00—————
09$2.87$2.95—$89.009.49%$0.01$0.0223,9422
01$2.38$2.44—$89.508.08%$0.01$0.022,0000
1723,289$1.88$1.95—$90.007.32%$0.02$0.0326,257109
016$1.41$1.49—$90.506.79%$0.04$0.0625,3811
15214,898$0.98$1.03—$91.006.46%$0.10$0.1299640
1243$0.61$0.65—$91.506.28%$0.22$0.25141
1942,257$0.34$0.376.45%$92.00—$0.45$0.498,46145
0789$0.17$0.196.54%$92.50—————
1219,169$0.08$0.106.88%$93.00—$1.22$1.28540
665$0.04$0.057.28%$93.50—————
120,844$0.02$0.037.86%$94.00—————
034$0.01$0.028.49%$94.50—————
44212$0.01$0.029.80%$95.00—$3.15$3.3010

Forward $91.88. The 25-delta put carries -0.08 volatility points over the 25-delta call.

2026-11-23(14 days)ATM 6.03%±1.09skew -0.28
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$9.85$10.00—$82.00—————
0—$8.85$9.00—$83.00—————
0—$7.85$8.00—$84.00—————
0—$6.80$7.20—$85.00—————
0—$5.80$6.00—$86.00—————
0—$4.85$5.00—$87.00—————
0—$3.85$4.00—$88.00—————
0—$2.88$2.96—$89.008.45%$0.01$0.02—0
0—$1.90$1.98—$90.006.79%$0.02$0.04—0
0—$1.00$1.07—$91.005.99%$0.11$0.13—0
0—$0.37$0.406.04%$92.00—$0.46$0.51—0
0—$0.09$0.116.27%$93.00—$1.22$1.29—0
0—$0.02$0.047.19%$94.00—$2.20$2.27—0
0—$0.01$0.028.65%$95.00—$3.15$3.30—0
—————$96.00—$4.15$4.30—0
—————$97.00—$5.15$5.30—0
—————$98.00—$6.15$6.30—0
—————$99.00—$7.15$7.30—0
—————$100.00—$8.15$8.30—0
—————$101.00—$9.15$9.30—0
—————$102.00—$10.15$10.30—0

Forward $91.90. The 25-delta put carries -0.28 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 6.01%±1.23skew -0.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
013$3.90$4.05—$88.00—————
—————$88.508.65%$0.01$0.02390
2614$2.95$3.05—$89.007.56%$0.01$0.02340
0702$2.45$2.53—$89.507.08%$0.02$0.03280
0124$1.97$2.05—$90.006.51%$0.03$0.05840
0605$1.52$1.59—$90.506.02%$0.06$0.08310
27456$1.09$1.15—$91.005.80%$0.13$0.15142100
1998$0.71$0.77—$91.505.87%$0.27$0.30208150
1853$0.45$0.486.02%$92.00—$0.49$0.546413
072$0.26$0.286.10%$92.50—————
6106$0.14$0.166.27%$93.00—$1.24$1.3090
2634$0.08$0.096.58%$93.50—————
0619$0.04$0.066.97%$94.00—————
010$0.02$0.047.38%$94.50—————
6290$0.01$0.037.90%$95.00—————
0—$0.01$0.028.53%$95.50—$3.65$3.80—0
6295$0.01$0.029.50%$96.00—————
—————$97.00—$5.15$5.3010
—————$102.00—$10.15$10.30—0
—————$103.00—$11.15$11.30—0

Forward $91.95. The 25-delta put carries -0.46 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 6.57%±1.58skew -0.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$87.009.76%$0.01$0.02150
05$3.90$4.05—$88.007.95%$0.01$0.0210
—————$88.507.67%$0.02$0.032011
2812$2.95$3.10—$89.007.33%$0.03$0.0540
—————$89.506.88%$0.05$0.0760
087$2.00$2.07—$90.006.59%$0.09$0.1130
04$1.54$1.62—$90.506.38%$0.16$0.18630
28130$1.13$1.20—$91.006.37%$0.28$0.31730
142,420$0.78$0.83—$91.506.44%$0.47$0.5030
256276$0.51$0.556.63%$92.00—$0.73$0.7723
0136$0.31$0.356.51%$92.50—————
021$0.19$0.226.62%$93.00—$1.44$1.51221
07$0.12$0.146.87%$93.50—$1.87$1.9420
0106$0.07$0.097.09%$94.00—$2.33$2.4010
1261$0.05$0.067.50%$94.50—————
1260$0.03$0.057.98%$95.00—————
05$0.01$0.038.75%$96.00—————

Forward $91.78. The 25-delta put carries -0.25 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 6.51%±1.77skew -0.10
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$86.509.50%$0.01$0.0210
—————$88.507.51%$0.03$0.05570
—————$89.007.19%$0.05$0.07410
068$2.01$2.10—$90.006.69%$0.13$0.1690
—————$90.506.55%$0.21$0.2530
—————$91.006.53%$0.35$0.3810
048$0.86$0.92—$91.506.61%$0.54$0.5810
03$0.60$0.646.48%$92.00—————
—————$92.50—$1.12$1.18110
0124$0.27$0.306.65%$93.00—$1.49$1.56120
02$0.18$0.206.82%$93.50—————
06$0.12$0.147.09%$94.00—————
03$0.08$0.107.38%$94.50—————

Forward $91.83. The 25-delta put carries -0.10 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 6.85%±2.05skew -0.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$6.90$7.05—$85.0010.56%$0.01$0.026011
02$5.90$6.05—$86.009.14%$0.01$0.021,0410
03$4.90$5.05—$87.008.34%$0.02$0.0329,8130
0101$3.90$4.05—$88.007.75%$0.04$0.062,84010
2422$2.97$3.05—$89.007.04%$0.09$0.1018,90249
91,946$2.04$2.11—$90.006.73%$0.21$0.2342,058149
214,712$1.25$1.29—$91.006.73%$0.48$0.5224,69656
1238,866$0.66$0.706.91%$92.00—$0.96$1.0137145
17235,541$0.33$0.367.01%$93.00—$1.66$1.721,3141
1042,542$0.15$0.187.23%$94.00—$2.49$2.577300
3,64222,440$0.08$0.107.82%$95.00—$3.40$3.551,0304
022,841$0.04$0.068.39%$96.00—$4.35$4.502100
01,014$0.03$0.049.26%$97.00—$5.35$5.5060
065$0.02$0.0310.07%$98.00—————
040$0.01$0.0310.99%$99.00—————
010,026$0.01$0.0211.73%$100.00—————

Forward $91.69. The 25-delta put carries -0.27 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 6.71%±2.64skew -0.43
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$82.0011.47%$0.01$0.0230
—————$83.0010.39%$0.01$0.022,7530
—————$84.009.68%$0.01$0.033820
046$6.85$7.10—$85.008.57%$0.01$0.0312,7940
—————$86.007.94%$0.02$0.042060
025$4.90$5.10—$87.007.41%$0.04$0.064,2370
01,345$3.95$4.10—$88.006.97%$0.08$0.102,8580
03,012$3.05$3.20—$89.006.62%$0.15$0.1919,10532
2920$2.22$2.31—$90.006.51%$0.32$0.361,240321
012,223$1.51$1.57—$91.006.58%$0.62$0.6818,806132
4227,775$0.96$1.006.72%$92.00—$1.09$1.158,238140
12223,631$0.59$0.616.84%$93.00—$1.76$1.831,4631
103,890$0.33$0.366.95%$94.00—$2.55$2.642330
08,448$0.19$0.217.20%$95.00—$3.40$3.5517,5770
06,337$0.11$0.147.63%$96.00—$4.35$4.502,5250
06,326$0.07$0.098.07%$97.00—$5.30$5.508930
03,016$0.05$0.078.74%$98.00—$6.30$6.502,7250
01,669$0.03$0.059.15%$99.00—$7.30$7.503900
022,837$0.02$0.049.71%$100.00—$8.30$8.50310
1172$0.02$0.0310.38%$101.00—————
097$0.01$0.0310.94%$102.00—————

Forward $91.86. The 25-delta put carries -0.43 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.