Options Skew Analytics

INCY 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 36.53%±11.94skew +0.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
2532$25.90$28.70—$100.00—————
04$21.00$23.50—$105.00—————
09$17.40$18.20—$110.00—————
02$12.20$14.40—$115.0040.42%$0.85$1.257246
215$7.90$10.30—$120.0038.93%$1.80$2.303675
326$5.90$6.70—$125.0038.44%$3.50$4.10880
29195$3.10$4.0035.71%$130.00—$5.80$7.00120
111382$1.95$2.6038.68%$135.00—$9.00$11.4001
23179$0.85$1.3036.91%$140.00—————

Forward $127.51. The 25-delta put carries +0.25 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 39.92%±24.95skew +0.59
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$55.90$60.20—$70.00—————
02$51.10$55.20—$75.00—————
025$46.20$50.10—$80.00—————
231$42.40$44.50—$85.00—————
01$39.60$42.00—$87.50—————
017$36.90$40.00—$90.00—————
02$34.90$37.80—$92.50—————
07$32.60$35.50—$95.00—————
09$30.00$33.00—$97.50—————
019$28.00$30.70—$100.00—————
10329$23.70$26.30—$105.00—————
141$19.70$22.30—$110.0041.04%$2.30$3.804,0060
0247$16.00$18.60—$115.0040.77%$3.70$5.20471
5130$13.00$15.60—$120.0039.73%$5.20$6.90420
1483$10.00$12.70—$125.0039.84%$7.50$9.103080
0308$7.60$10.3039.93%$130.00—$10.30$11.60100
068$5.60$8.3039.68%$135.00—$13.00$14.6030
2148$5.30$6.2041.35%$140.00—————
11125$4.20$5.1042.30%$145.00—————
0120$2.45$3.9040.19%$150.00—————
038$1.80$3.0040.32%$155.00—————

Forward $127.98. The 25-delta put carries +0.59 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 38.84%±28.12skew +1.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
070$47.70$49.90—$80.00—————
044$45.00$47.60—$82.50—————
038$42.50$45.30—$85.00—————
017$40.50$43.00—$87.50—————
095$38.10$40.70—$90.00—————
08$35.90$38.50—$92.50—————
021$33.30$36.00—$95.00—————
026$30.90$33.90—$97.50—————
0137$28.90$31.60—$100.00—————
030$24.50$27.50—$105.0042.02%$2.30$3.40370
082$20.90$23.50—$110.0040.25%$3.40$4.10190
0111$17.20$20.00—$115.0040.09%$4.80$5.7020
087$14.00$16.50—$120.0039.58%$6.60$7.40590
154$12.10$13.90—$125.0039.12%$8.60$9.60370
0360$9.90$11.4039.02%$130.00—$11.10$12.2020
0139$7.80$9.2038.54%$135.00—————
074$6.10$7.4038.34%$140.00—————
1967$4.90$5.8038.35%$145.00—————
0133$3.70$4.7038.35%$150.00—————
053$2.75$3.8038.37%$155.00—————
031$2.35$3.0039.11%$160.00—————

Forward $128.99. The 25-delta put carries +1.73 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 39.03%±35.24skew +0.61
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$66.50$70.80—$60.00—————
01$61.70$66.00—$65.00—————
01$57.50$60.30—$70.00—————
02$48.40$51.10—$80.00—————
01$39.40$41.80—$90.00—————
01$32.70$35.90—$97.50—————
017$30.50$33.40—$100.0040.64%$2.35$3.9050
027$27.60$29.30—$105.0038.97%$3.50$4.4020
07$23.00$25.70—$110.0038.26%$4.70$5.70100
04$19.50$22.60—$115.0038.39%$6.40$7.5040
0346$16.80$19.10—$120.0038.03%$8.20$9.50780
07$15.10$16.30—$125.00—————
09$13.00$14.1039.40%$130.00—————
029$10.70$12.1039.00%$135.00—————
034$8.90$10.4039.02%$140.00—————
016$6.40$9.0037.76%$145.00—————
037$5.60$7.4038.05%$150.00—————
07$4.70$6.2038.23%$155.00—————
0240$3.40$5.3037.66%$160.00—————
01$2.70$4.5037.76%$165.00—————

Forward $129.29. The 25-delta put carries +0.61 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.