Options Skew Analytics

IEF option chain

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

Data as of 22 September 2026 (end of day)

2026-10-02(10 days)ATM 6.77%±1.02skew +0.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$88.509.21%$0.01$0.02150
01$2.24$2.31—$89.007.70%$0.01$0.0211
—————$89.507.09%$0.02$0.046200
2013$1.27$1.33—$90.006.89%$0.07$0.082,4411
0343$0.82$0.86—$90.506.71%$0.16$0.181,0851
0160$0.45$0.48—$91.006.83%$0.35$0.37700
1,2022,606$0.20$0.226.22%$91.50—$0.65$0.69170
02,960$0.07$0.096.05%$92.00—$1.05$1.12300
0832$0.03$0.046.49%$92.50—$1.51$1.591,2490
03,954$0.01$0.037.29%$93.00—$1.99$2.074160
32,686$0.01$0.028.36%$93.50—$2.49$2.579320
0163$0.01$0.029.76%$94.00—$3.00$3.108830
0186$0.01$0.0211.12%$94.50—————
—————$110.00—$18.95$19.0502

Forward $91.11. The 25-delta put carries +0.66 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 6.07%±1.19skew +0.23
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$87.509.34%$0.01$0.0210
—————$88.507.75%$0.02$0.0311
—————$90.006.24%$0.11$0.13210
011$0.86$0.90—$90.506.14%$0.22$0.251719
10102$0.52$0.55—$91.006.11%$0.41$0.44850
2932$0.28$0.315.91%$91.50—$0.71$0.752116
9202,008$0.14$0.165.91%$92.00—$1.09$1.148590
1134$0.07$0.086.10%$92.50—$1.53$1.597710
334$0.03$0.056.46%$93.00—$2.00$2.081,1580
049$0.02$0.037.02%$93.50—$2.49$2.577600
041$0.01$0.037.85%$94.00—————
9132$0.01$0.028.52%$94.50—————
018$0.01$0.029.54%$95.00—————
95$0.01$0.0210.55%$95.50—————
100540$0.01$0.0211.53%$96.00—————

Forward $91.11. The 25-delta put carries +0.23 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 6.09%±1.42skew +0.22
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$9.15$9.35—$82.00—————
01$6.20$6.35—$85.00—————
—————$86.0010.71%$0.01$0.02330
0423$4.20$4.35—$87.008.86%$0.01$0.02380
02$3.20$3.35—$88.007.62%$0.02$0.032,4190
038$2.26$2.32—$89.006.75%$0.05$0.076,225487
16138$1.35$1.40—$90.006.29%$0.17$0.1931,073456
05$0.95$0.99—$90.506.15%$0.29$0.3229
3,53926,050$0.63$0.66—$91.006.13%$0.48$0.5226,58523,652
3053,516$0.39$0.416.00%$91.50—————
3,04094,155$0.23$0.256.07%$92.00—$1.12$1.1745,2430
4,2156,260$0.13$0.146.14%$92.50—————
1,14617,068$0.07$0.096.40%$93.00—$2.02$2.0712,0510
9332,009$0.03$0.047.26%$94.00—$2.98$3.105,4650
743,588$0.02$0.038.66%$95.00—$3.95$4.102520
108864$0.01$0.029.65%$96.00—$4.95$5.101240
14,670$0.01$0.0211.26%$97.00—$5.95$6.101360
—————$98.00—$6.95$7.105220

Forward $91.15. The 25-delta put carries +0.22 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 6.04%±1.61skew +0.03
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$85.0011.09%$0.01$0.0230
—————$87.008.53%$0.02$0.0350
030$3.20$3.35—$88.00—————
—————$89.006.69%$0.08$0.1050
—————$90.006.15%$0.21$0.231113
01$1.06$1.09—$90.506.02%$0.33$0.3741
15321$0.73$0.76—$91.00—————
1002$0.48$0.516.05%$91.50—$0.79$0.8330
2671,328$0.30$0.336.04%$92.00—$1.14$1.194251
120368$0.18$0.216.12%$92.50—$1.56$1.61550
1027$0.11$0.136.27%$93.00—$2.02$2.0930
0105$0.07$0.096.60%$93.50—$2.50$2.57550
028$0.04$0.066.82%$94.00—$2.98$3.1010
510$0.02$0.047.81%$95.00—————
06$0.02$0.038.35%$95.50—————
06$0.01$0.038.80%$96.00—————

Forward $91.18. The 25-delta put carries +0.03 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 6.12%±1.80skew +0.13
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
015$11.20$11.35—$80.00—————
—————$85.0010.55%$0.01$0.03150
—————$86.508.86%$0.02$0.04100
01$4.30$4.40—$87.008.06%$0.02$0.04100
—————$89.006.73%$0.11$0.132,700100
—————$89.506.50%$0.17$0.19100
01$1.56$1.62—$90.006.36%$0.26$0.291,6000
02$1.19$1.23—$90.506.14%$0.38$0.421,8570
063$0.86$0.90—$91.006.05%$0.57$0.60102
019$0.59$0.636.18%$91.50—$0.83$0.876620
242$0.40$0.436.17%$92.00—$1.17$1.2210
1667$0.26$0.296.22%$92.50—————
418$0.17$0.206.40%$93.00—————
016$0.11$0.136.53%$93.50—————
01$0.05$0.077.13%$94.50—————
01$0.04$0.067.66%$95.00—————

Forward $91.26. The 25-delta put carries +0.13 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 6.33%±2.32skew +0.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$81.0013.22%$0.01$0.031000
—————$82.0012.03%$0.01$0.0330
—————$86.008.45%$0.04$0.06260
—————$87.007.71%$0.06$0.091052
—————$88.007.25%$0.12$0.15600
—————$89.006.86%$0.24$0.2626315
063$1.68$1.74—$90.006.52%$0.44$0.47500
11954$1.02$1.06—$91.006.36%$0.79$0.8419632
1071,110$0.57$0.606.29%$92.00—$1.37$1.428,2310
55402$0.30$0.336.45%$93.00—$2.14$2.20410
220,915$0.16$0.186.75%$94.00—$3.00$3.1050
11137$0.09$0.117.23%$95.00—$4.00$4.10100
0609$0.06$0.087.96%$96.00—————
025$0.04$0.068.63%$97.00—————
03$0.02$0.0411.06%$100.00—————
03$0.01$0.0311.39%$101.00—————
06$0.01$0.0312.33%$102.00—————

Forward $91.23. The 25-delta put carries +0.07 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 6.51%±2.90skew +0.37
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$84.009.27%$0.04$0.07590
—————$85.008.54%$0.06$0.0820
—————$86.007.96%$0.09$0.1110
01$4.40$4.50—$87.007.57%$0.15$0.172,5593
01$3.45$3.55—$88.007.22%$0.25$0.27650
0171$2.62$2.69—$89.006.93%$0.41$0.4411,2340
36$1.85$1.91—$90.006.61%$0.65$0.6920,2021
010,438$1.21$1.25—$91.006.54%$1.05$1.0924,3025
0351$0.75$0.796.44%$92.00—$1.63$1.702000
1,03223,829$0.46$0.496.57%$93.00—$2.35$2.431,20326
255,544$0.27$0.316.78%$94.00—$3.15$3.251173
315,447$0.17$0.197.07%$95.00—$4.05$4.151,0211
222,958$0.11$0.147.56%$96.00—$5.00$5.102100
084$0.08$0.108.06%$97.00—$6.00$6.1050
057$0.06$0.088.65%$98.00—————
035$0.04$0.079.20%$99.00—————
010,026$0.04$0.069.95%$100.00—$8.95$9.1020
03$0.02$0.0411.60%$103.00—————
05$0.01$0.0312.45%$105.00—————
02$0.01$0.0313.87%$107.00—————
—————$108.00—$16.95$17.0530

Forward $91.16. The 25-delta put carries +0.37 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 6.34%±3.25skew +0.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$11.25$11.40—$80.0011.85%$0.04$0.064530
044$6.35$6.50—$85.008.28%$0.10$0.1212,4680
014$4.40$4.60—$87.007.30%$0.20$0.232,0140
030$3.55$3.70—$88.006.99%$0.32$0.342,2560
024$2.77$2.84—$89.006.71%$0.49$0.527,1470
0205$2.03$2.09—$90.006.52%$0.75$0.801,0901
1811,757$1.39$1.46—$91.006.40%$1.13$1.1917,4160
4205,650$0.91$0.976.26%$92.00—$1.69$1.754,8500
02,068$0.60$0.646.38%$93.00—$2.41$2.471,3190
03,516$0.39$0.426.57%$94.00—$3.20$3.302373
02,341$0.25$0.286.80%$95.00—$4.10$4.2017,5890
106,102$0.17$0.207.16%$96.00—$5.00$5.152,5450
36,349$0.12$0.157.58%$97.00—$6.00$6.101,1170
42,877$0.09$0.128.07%$98.00—$6.95$7.103,6830
41,667$0.07$0.108.58%$99.00—$7.95$8.101780
222,971$0.06$0.089.08%$100.00—$8.95$9.10420
0154$0.05$0.079.62%$101.00—————
095$0.04$0.0610.07%$102.00—————
0624$0.03$0.0510.44%$103.00—————
14$0.03$0.0511.13%$104.00—————
0103$0.02$0.0411.35%$105.00—————

Forward $91.27. The 25-delta put carries +0.14 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.