Options Skew Analytics

IREN 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 155.88%±3.50skew +18.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
187600$5.00$5.25—$16.50188.86%$0.15$0.171,367637
61668$4.55$4.80—$17.00184.36%$0.20$0.212,1181,504
388104$4.10$4.30—$17.50178.69%$0.24$0.272,206593
74806$3.70$3.85—$18.00175.84%$0.32$0.342,4741,548
592469$3.25$3.40—$18.50172.75%$0.40$0.443,2832,076
3051,229$2.93$3.00—$19.00169.19%$0.51$0.542,5581,504
2584,580$2.56$2.63—$19.50167.04%$0.65$0.671,7381,565
2,0001,926$2.23$2.27—$20.00163.20%$0.79$0.827,3118,437
1,054536$1.90$1.96—$20.50161.91%$0.97$1.023,8171,916
5,5131,986$1.62$1.65—$21.00160.39%$1.18$1.241,7883,291
4,6131,577$1.35$1.40156.92%$21.50—$1.41$1.462,8541,700
11,8815,003$1.12$1.16154.82%$22.00—$1.68$1.744,0863,253
11,1292,198$0.92$0.95153.01%$22.50—$1.97$2.03897430
9,3122,295$0.74$0.78151.59%$23.00—$2.31$2.341,352515
4,1301,797$0.59$0.63150.18%$23.50—$2.65$2.701,889270
5,5562,480$0.47$0.49148.32%$24.00—$3.00$3.151,661440
3,6074,856$0.37$0.39147.71%$24.50—$3.40$3.50990334
11,8839,640$0.29$0.31147.49%$25.00—$3.80$3.954,593135
2,3531,490$0.23$0.24147.30%$25.50—$4.15$4.4026316
5,8053,247$0.18$0.19147.63%$26.00—$4.60$4.851,11127
8021,068$0.14$0.15148.00%$26.50—$5.05$5.304052

Forward $21.44. The 25-delta put carries +18.73 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 131.65%±4.90skew +14.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$5.20$5.55—$16.50150.76%$0.39$0.42—68
171605$4.80$5.10—$17.00148.06%$0.47$0.505,494610
0—$4.40$4.70—$17.50146.23%$0.56$0.61—166
3711,420$4.05$4.30—$18.00143.51%$0.67$0.717,859529
0—$3.65$3.95—$18.50142.22%$0.80$0.85—653
406733$3.30$3.55—$19.00139.93%$0.94$0.995,8151,681
105—$3.00$3.15—$19.50138.31%$1.10$1.16—1,020
1,2693,939$2.75$2.79—$20.00137.19%$1.29$1.3512,6655,976
457—$2.45$2.50—$20.50135.06%$1.49$1.54—824
2,9813,524$2.17$2.23—$21.00133.71%$1.72$1.763,7442,936
729—$1.93$1.98133.40%$21.50—$1.97$2.03—207
3,1266,289$1.70$1.73131.72%$22.00—$2.23$2.288,1091,677
160—$1.47$1.53130.43%$22.50—$2.52$2.57—126
1,3017,229$1.28$1.35129.90%$23.00—$2.83$2.884,668835
206—$1.11$1.18129.17%$23.50—$3.15$3.25—11
2,2804,080$0.96$1.02128.28%$24.00—$3.50$3.604,678731
185—$0.83$0.89128.06%$24.50—$3.85$4.00—171
3,7337,553$0.72$0.77127.87%$25.00—$4.25$4.4012,488906
834—$0.62$0.67127.83%$25.50—$4.50$4.80—11
1,3604,565$0.53$0.57127.17%$26.00—$4.95$5.201,70251
147—$0.46$0.50127.78%$26.50—$5.35$5.60—0

Forward $21.45. The 25-delta put carries +14.39 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 117.48%±5.60skew +11.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1—$5.45$5.60—$16.50134.08%$0.56$0.59—26
170255$5.05$5.20—$17.00131.77%$0.66$0.681,12470
48—$4.65$4.80—$17.50129.75%$0.77$0.79—131
168643$4.30$4.45—$18.00127.91%$0.89$0.921,995340
0—$3.95$4.05—$18.50126.15%$1.03$1.06—196
584141$3.60$3.75—$19.00124.75%$1.19$1.22894214
46—$3.25$3.40—$19.50123.30%$1.36$1.40—107
2411,468$2.99$3.10—$20.00122.08%$1.56$1.591,557996
198—$2.73$2.77—$20.50120.77%$1.76$1.81—190
516263$2.46$2.50—$21.00119.64%$1.99$2.041,903636
471—$2.21$2.25118.66%$21.50—$2.24$2.29—106
219704$1.98$2.02117.80%$22.00—$2.51$2.561,022354
944—$1.77$1.81117.10%$22.50—$2.80$2.85—576
2221,540$1.58$1.62116.60%$23.00—$3.10$3.15677321
136—$1.40$1.44115.79%$23.50—$3.40$3.50—136
828627$1.25$1.28115.52%$24.00—$3.75$3.85822231
474—$1.10$1.14115.03%$24.50—$4.10$4.20—9
1,462741$0.97$1.01114.62%$25.00—$4.50$4.602,166192
75—$0.86$0.90114.67%$25.50—$4.85$5.00—199
107482$0.76$0.79114.34%$26.00—$5.25$5.40721102
203—$0.67$0.70114.29%$26.50—$5.65$5.80—1

Forward $21.46. The 25-delta put carries +11.86 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 114.32%±6.43skew +13.55
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
80$10.50$10.70—$11.00158.33%$0.13$0.15115
01$9.55$9.75—$12.00151.18%$0.18$0.21284
—————$13.00144.98%$0.26$0.28334
—————$14.00139.50%$0.36$0.381,525534
082$6.90$7.05—$15.00135.00%$0.49$0.521,223118
502$6.05$6.20—$16.00130.72%$0.66$0.6954685
45117$5.30$5.45—$17.00127.26%$0.88$0.9154695
18594$4.55$4.70—$18.00123.79%$1.14$1.181,29299
224192$3.90$4.05—$19.00121.14%$1.47$1.511,18097
168308$3.30$3.40—$20.00118.97%$1.86$1.91942679
817202$2.80$2.85—$21.00116.89%$2.32$2.361,246311
356418$2.32$2.37114.98%$22.00—$2.85$2.89548470
597670$1.91$1.96113.62%$23.00—$3.40$3.504167
273648$1.56$1.59112.05%$24.00—$4.05$4.1561583
946552$1.26$1.31111.37%$25.00—$4.75$4.851,169460
254297$1.02$1.06110.67%$26.00—$5.50$5.6067454
1022,802$0.82$0.86110.23%$27.00—$6.30$6.451535
285746$0.67$0.70110.45%$28.00—$7.15$7.3083960
393340$0.54$0.57110.50%$29.00—$7.95$8.151784
1,0471,701$0.44$0.47111.03%$30.00—$8.90$9.052346
122496$0.36$0.39111.72%$31.00—$9.80$9.951168

Forward $21.49. The 25-delta put carries +13.55 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 112.96%±7.19skew +12.67
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$10.60$10.75—$11.00151.39%$0.19$0.21112
—————$12.00145.44%$0.26$0.29305
02$8.75$8.90—$13.00139.30%$0.35$0.38822
—————$14.00134.68%$0.47$0.5112201
405$7.05$7.20—$15.00129.92%$0.63$0.6525596
630$6.25$6.40—$16.00127.12%$0.83$0.8755515
1489$5.50$5.65—$17.00123.96%$1.07$1.1237648
425$4.80$4.95—$18.00121.64%$1.38$1.42489115
655$4.15$4.30—$19.00119.38%$1.73$1.7864753
1126$3.60$3.70—$20.00117.09%$2.13$2.19298178
43112$3.10$3.20—$21.00115.36%$2.60$2.66353254
661219$2.61$2.69113.55%$22.00—$3.10$3.20432518
38163$2.22$2.28112.74%$23.00—$3.70$3.801217
210151$1.86$1.92111.59%$24.00—$4.35$4.4530622
55791$1.55$1.61110.63%$25.00—$5.05$5.1511323
198273$1.29$1.34109.81%$26.00—$5.75$5.854959
77448$1.07$1.12109.33%$27.00—$6.50$6.65575
1771,008$0.89$0.93108.97%$28.00—$7.35$7.501832
57579$0.74$0.78108.97%$29.00—$8.20$8.353522
2101,092$0.61$0.65108.76%$30.00—$9.05$9.208635
29139$0.50$0.54108.50%$31.00—$9.95$10.10151

Forward $21.50. The 25-delta put carries +12.67 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 111.16%±7.82skew +12.49
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01,363$9.75$9.90—$12.00140.69%$0.34$0.368,21031
0359$8.85$9.00—$13.00135.40%$0.45$0.471,557113
035$8.00$8.15—$14.00131.21%$0.59$0.622,06731
211,759$7.20$7.35—$15.00127.50%$0.77$0.808,853199
043$6.45$6.60—$16.00124.76%$1.00$1.0351061
1021,768$5.70$5.85—$17.00122.05%$1.27$1.304,741644
7441$5.05$5.20—$18.00119.71%$1.59$1.621,706307
191593$4.40$4.55—$19.00117.58%$1.96$1.99916321
4857,364$3.85$4.00—$20.00115.78%$2.38$2.4212,8262,089
532263$3.35$3.45—$21.00114.24%$2.86$2.90625933
1,0941,964$2.91$2.95112.44%$22.00—$3.35$3.458,1971,156
487703$2.49$2.54111.15%$23.00—$3.95$4.05119227
46289$2.13$2.16109.89%$24.00—$4.60$4.6531121
2,2668,069$1.81$1.85109.10%$25.00—$5.25$5.3512,548865
315556$1.54$1.57108.37%$26.00—$5.95$6.10228324
5462,875$1.29$1.33107.45%$27.00—$6.75$6.854,07256
5773,695$1.09$1.13107.05%$28.00—$7.55$7.652,07363
1502,672$0.94$0.96107.22%$29.00—$8.35$8.5093515
1,57811,150$0.79$0.82107.03%$30.00—$9.25$9.359,8531,385
4723,845$0.67$0.70107.05%$31.00—$10.10$10.251,9038
982,920$0.57$0.60107.22%$32.00—$10.95$11.151,84566

Forward $21.53. The 25-delta put carries +12.49 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 109.75%±8.29skew +11.52
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$11.00141.64%$0.29$0.3210
01$9.80$10.00—$12.00136.44%$0.39$0.42160
—————$13.00132.57%$0.52$0.5610216
—————$14.00128.62%$0.68$0.725316
176$7.30$7.50—$15.00125.38%$0.88$0.921,46421
05$6.55$6.75—$16.00122.73%$1.12$1.17158
015$5.85$6.00—$17.00119.72%$1.40$1.4410886
25$5.20$5.35—$18.00117.80%$1.73$1.792,57519
5112$4.60$4.70—$19.00115.92%$2.11$2.18183
7483$4.00$4.15—$20.00114.05%$2.54$2.61120151
34101$3.50$3.65—$21.00112.21%$3.00$3.1042518
36255$3.05$3.20111.40%$22.00—$3.55$3.653026
1236$2.66$2.75109.96%$23.00—$4.10$4.252215
6331$2.31$2.37108.97%$24.00—$4.75$4.854034
281151$2.00$2.05108.35%$25.00—$5.45$5.5529262
3812$1.72$1.78107.87%$26.00—$6.15$6.30475
7450$1.47$1.53107.11%$27.00—$6.90$7.00418
2432$1.26$1.32106.71%$28.00—$7.70$7.8515438
7534$1.09$1.13106.46%$29.00—$8.50$8.65474
146204$0.93$0.98106.28%$30.00—$9.35$9.501818
5170$0.80$0.84106.08%$31.00—$10.20$10.35824

Forward $21.52. The 25-delta put carries +11.52 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 105.81%±9.79skew +12.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
74,656$10.05$10.20—$12.00127.29%$0.59$0.6311,96238
131$9.20$9.40—$13.00124.11%$0.77$0.801,429111
23$8.45$8.60—$14.00121.08%$0.97$1.014128
129,093$7.70$7.85—$15.00118.76%$1.22$1.2618,775234
0114$7.00$7.15—$16.00116.70%$1.51$1.5563081
64,344$6.35$6.45—$17.00114.79%$1.84$1.8812,407162
88341$5.70$5.85—$18.00112.99%$2.21$2.25403352
212580$5.15$5.25—$19.00111.58%$2.63$2.67405129
78733,795$4.65$4.70—$20.00109.92%$3.05$3.1552,6636,748
243738$4.15$4.25—$21.00108.63%$3.55$3.65311367
5856,414$3.70$3.80107.69%$22.00—$4.10$4.206,28993
37496$3.30$3.40106.92%$23.00—$4.70$4.80416250
61130$2.95$2.99105.75%$24.00—$5.35$5.4523142
1,17624,645$2.62$2.66105.06%$25.00—$6.00$6.1017,7471,673
11681$2.32$2.36104.34%$26.00—$6.70$6.8024241
2635,316$2.05$2.10103.80%$27.00—$7.45$7.555,178499
4447$1.82$1.86103.38%$28.00—$8.20$8.30340328
42166$1.61$1.65102.98%$29.00—$9.00$9.1016121
3,40433,964$1.42$1.46102.53%$30.00—$9.80$9.9074,567515
4365$1.26$1.30102.41%$31.00—$10.60$10.7571124
33714,557$1.12$1.16102.38%$32.00—$11.45$11.6016,25113

Forward $21.60. The 25-delta put carries +12.41 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.