Options Skew Analytics

JNJ option chain

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

Data as of 24 September 2026 (end of day)

2026-10-02(8 days)ATM 23.33%±9.40skew +0.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$70.30$73.50—$200.00—————
01$40.65$43.45—$230.00—————
02$25.70$28.70—$245.00—————
06$20.90$23.60—$250.0029.41%$0.09$0.13725179
08$15.90$18.85—$255.0026.54%$0.17$0.25306102
12$13.50$16.30—$257.5025.29%$0.23$0.3810414
118$12.00$13.70—$260.0024.73%$0.41$0.583101,021
126$9.00$11.50—$262.5024.25%$0.63$0.959345
2235$8.10$8.65—$265.0023.61%$1.06$1.3519591
1423$6.20$6.85—$267.5023.86%$1.68$2.164712
53138$4.65$5.25—$270.0023.65%$2.56$3.0549701
11468$3.35$3.8023.32%$272.50—$3.65$4.202638
150719$2.32$2.6723.22%$275.00—$5.10$5.60139
32118$1.47$1.9723.50%$277.50—$6.70$7.4021
99323$0.96$1.2123.21%$280.00—$8.10$10.1030
5382$0.54$0.8623.53%$282.50—————
—————$285.00—$12.40$15.3010
—————$335.00—$61.95$64.6001

Forward $272.15. The 25-delta put carries +0.39 volatility points over the 25-delta call.

2026-10-09(15 days)ATM 22.74%±12.57skew +0.63
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$60.80$63.50—$210.00—————
01$45.85$48.95—$225.00—————
01$40.90$43.90—$230.00—————
01$26.10$28.80—$245.00—————
01$21.50$24.20—$250.00—————
—————$255.0025.19%$0.53$0.69362168
—————$257.5025.43%$0.76$1.112811
310$12.05$14.70—$260.0024.14%$1.08$1.25846195
—————$262.5024.19%$1.54$1.81517
734$9.30$10.10—$265.0023.64%$2.07$2.3822948
32$7.65$8.40—$267.5023.50%$2.85$3.15541
42384$6.10$6.70—$270.0023.34%$3.75$4.158213
4613$4.80$5.25—$272.5022.78%$4.65$5.3558
3672$3.70$4.0022.57%$275.00—$6.10$7.0063
817$2.73$3.1022.57%$277.50—$7.65$8.4502
108754$2.07$2.3422.82%$280.00—$9.45$10.20132
338$1.52$1.7523.01%$282.50—————
222332$1.09$1.2823.14%$285.00—$12.90$15.4520
106$0.68$1.0723.52%$287.50—————
—————$290.00—$17.50$20.1510

Forward $272.53. The 25-delta put carries +0.63 volatility points over the 25-delta call.

2026-10-16(22 days)ATM 28.58%±19.12skew +0.80
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$247.5030.76%$0.71$1.16230
363,278$22.10$24.65—$250.0029.78%$1.00$1.222,278131
—————$252.5029.94%$1.26$1.711210
21$17.80$20.40—$255.0029.40%$1.70$1.9616220
02$15.70$18.00—$257.5029.21%$2.15$2.477719
173,406$14.80$15.95—$260.0029.01%$2.71$3.053,399162
—————$262.5028.68%$3.35$3.70710
1215$11.20$12.60—$265.0028.76%$3.90$4.851232
16$9.90$10.85—$267.5028.63%$4.90$5.70312
493,743$8.55$9.35—$270.0028.70%$6.15$6.6587731
565$7.00$8.30—$272.5028.64%$7.00$8.20315
13671$6.15$6.6528.26%$275.00—$8.30$9.6580
4109$4.85$5.6027.67%$277.50—$9.50$11.1002
2897,976$4.30$4.7028.34%$280.00—$11.40$12.202034
14166$3.50$3.8528.16%$282.50—$13.10$14.70130
289187$2.82$3.1528.07%$285.00—————
199$2.30$2.5928.21%$287.50—————
693,537$1.82$2.0828.13%$290.00—$18.35$21.0090
910$1.31$1.7027.85%$292.50—————
7161$1.01$1.3627.87%$295.00—————
202,307$0.58$0.8427.86%$300.00—$27.25$29.85100

Forward $272.55. The 25-delta put carries +0.80 volatility points over the 25-delta call.

2026-10-23(29 days)ATM 27.40%±21.06skew +0.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$75.80$79.60—$195.00—————
02$46.40$49.90—$225.00—————
05$31.85$34.70—$240.00—————
01$27.20$30.05—$245.00—————
—————$250.0028.70%$1.26$1.781988
05$18.50$21.15—$255.0027.66%$2.02$2.40585
012$15.65$17.10—$260.0027.56%$3.20$3.60383
511$12.30$13.70—$265.0027.56%$4.75$5.3013212
2757$9.50$10.05—$270.0027.45%$6.80$7.35307
549$7.00$7.6027.37%$275.00—$9.30$9.90322
5338$5.00$5.5527.19%$280.00—————
270$3.50$3.9527.16%$285.00—————
15259$2.31$2.6826.87%$290.00—————
14313$1.53$1.7926.88%$295.00—————
—————$300.00—$27.60$30.0010

Forward $272.69. The 25-delta put carries +0.69 volatility points over the 25-delta call.

2026-10-30(36 days)ATM 26.92%±23.07skew +1.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$245.0027.85%$0.99$1.394116
11$23.30$25.90—$250.0026.99%$1.62$1.8575109
—————$255.0026.84%$2.44$2.88464
01$16.55$17.95—$260.0027.34%$3.65$4.55225
015$13.10$14.35—$265.0027.16%$5.10$6.40579
5047$10.05$10.90—$270.0026.79%$7.05$8.45424
419$7.50$8.8026.95%$275.00—$9.55$11.151130
624$5.40$6.2525.99%$280.00—$12.40$14.10134
018$3.80$4.7026.05%$285.00—————
235$2.64$3.4526.16%$290.00—————
1224$1.79$2.3225.90%$295.00—————
5531$1.27$1.5926.15%$300.00—————
5568$0.79$1.1526.32%$305.00—————

Forward $272.79. The 25-delta put carries +1.18 volatility points over the 25-delta call.

2026-11-06(43 days)ATM 25.33%±23.71skew +1.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$46.90$49.50—$225.00—————
0—$42.05$44.70—$230.00—————
0—$37.30$39.85—$235.00—————
0—$32.65$35.10—$240.00—————
0—$28.20$30.90—$245.00—————
1—$23.90$26.35—$250.0027.65%$1.85$2.93—4
1—$19.75$22.50—$255.00—————
0—$16.00$18.80—$260.0026.15%$4.05$4.85—10
0—$12.95$15.00—$265.0025.51%$4.90$7.05—4
1—$9.85$12.15—$270.0025.28%$7.20$8.85—1
1—$7.35$9.4525.35%$275.00—$9.75$11.45—0
0—$5.55$7.4025.61%$280.00—$12.95$14.65—0
4—$4.40$5.4525.87%$285.00—$16.25$18.55—0
0—$2.66$4.1025.08%$290.00—$19.75$22.25—0
—————$295.00—$23.60$26.20—0
—————$300.00—$27.95$30.55—0
—————$305.00—$32.50$35.05—0
27—$0.67$1.0425.82%$310.00—$37.00$39.75—0
—————$315.00—$41.20$45.10—0
—————$320.00—$46.15$50.05—0
—————$325.00—$51.65$55.05—0

Forward $272.79. The 25-delta put carries +1.06 volatility points over the 25-delta call.

2026-11-20(57 days)ATM 26.06%±28.18skew +1.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$131.05$134.10—$140.00—————
11$116.50$119.10—$155.00—————
05$76.50$79.85—$195.00—————
06$71.60$74.65—$200.00—————
03$61.75$64.85—$210.00—————
024$52.30$54.85—$220.0029.80%$0.27$0.456511
03$42.45$45.45—$230.00—————
049$33.30$36.10—$240.0028.40%$1.48$1.9547882
064$25.05$27.40—$250.0027.24%$2.99$3.301,122114
91,080$17.65$20.20—$260.0026.62%$5.50$5.803,6322,668
462,500$12.75$13.35—$270.0026.29%$9.30$9.7060580
100582$8.00$8.6025.86%$280.00—$14.55$14.9510517
159650$4.80$5.1025.58%$290.00—$20.55$22.45206
2021,307$2.71$2.9025.52%$300.00—$28.30$30.8050
1681,301$1.45$1.6525.72%$310.00—————
1169$0.59$0.8925.33%$320.00—————

Forward $273.57. The 25-delta put carries +1.04 volatility points over the 25-delta call.

2026-12-18(85 days)ATM 25.62%±33.79skew +1.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0400$106.25$109.30—$165.00—————
0284$101.65$104.30—$170.00—————
0268$96.35$99.30—$175.00—————
0534$91.75$94.30—$180.00—————
0628$86.85$89.35—$185.0035.69%$0.14$0.17858167
0898$81.85$84.45—$190.00—————
0277$76.65$79.50—$195.00—————
0884$72.05$74.80—$200.00—————
0630$62.30$64.95—$210.0032.18%$0.55$0.815,2433
0988$52.70$55.00—$220.00—————
02,024$43.25$45.70—$230.0028.37%$1.43$1.941,13114
31,619$34.55$36.50—$240.0027.23%$2.63$3.051,30736
72,966$26.85$29.05—$250.0026.73%$4.65$5.055,64565
191,397$19.40$21.95—$260.0026.07%$7.55$7.856952,905
301,525$14.75$15.35—$270.0025.85%$11.60$12.0550263
691,566$10.00$10.6525.43%$280.00—$16.85$17.3061114
131,453$6.55$7.0525.17%$290.00—$22.70$25.10590
1211,109$4.10$4.3024.75%$300.00—$29.85$32.3550
235,633$2.50$2.6624.78%$310.00—$39.10$41.0520
8243$1.21$1.7024.48%$320.00—————
10092$0.70$1.1124.99%$330.00—————

Forward $273.26. The 25-delta put carries +1.98 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.