Options Skew Analytics

KGC option chain

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

Data as of 25 September 2026 (end of day)

2026-10-02(7 days)ATM 40.58%±1.41skew +1.83
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
07$8.55$10.35—$15.00—————
02$5.65$7.55—$18.00—————
110$4.40$6.15—$20.00—————
99$3.85$4.30—$21.00—————
326$0.97$1.50—$24.0044.66%$0.20$0.2216373
5136$0.70$1.04—$24.5044.18%$0.31$0.40119191
13730$0.49$0.72—$25.0040.42%$0.40$0.6386275
42612$0.32$0.4841.69%$25.50—$0.77$0.9272
709$0.21$0.3042.83%$26.00—$1.07$1.76695
—————$26.50—$1.55$1.854524
—————$27.00—$1.96$2.2835323
—————$27.50—$2.20$3.25410
—————$28.00—$2.50$3.70390
—————$29.00—$3.35$5.5080
—————$29.50—$3.90$5.9510
1216$0.01$0.0568.53%$30.00—$4.80$6.00270
—————$31.50—$6.05$7.95110
—————$33.00—$7.50$9.3510

Forward $25.09. The 25-delta put carries +1.83 volatility points over the 25-delta call.

2026-11-20(56 days)ATM 48.78%±4.82skew +0.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
09$8.35$12.05—$15.00—————
01$7.10$11.00—$16.00—————
12127$4.60$5.50—$20.00—————
19$3.90$4.85—$21.0048.57%$0.32$0.462,1142
546$3.25$3.90—$22.0047.92%$0.54$0.661,04630
0144$2.60$3.20—$23.0048.74%$0.88$0.981,9910
8816$2.11$2.59—$24.0048.45%$1.25$1.371,18854
48970$1.85$2.08—$25.0047.81%$1.70$1.822,82394
66277$1.51$1.6549.10%$26.00—$2.22$2.425954
11211$1.06$1.2547.35%$27.00—$2.91$3.101,1040
214,405$0.84$1.0048.79%$28.00—$3.60$4.601900
181467$0.58$0.7848.45%$29.00—$4.30$6.151,4690
51,002$0.48$0.5749.23%$30.00—$5.25$5.9555420
3547$0.34$0.4349.17%$31.00—$5.90$7.40730
—————$32.00—$7.00$7.40260
—————$33.00—$7.95$9.00192
—————$34.00—$8.35$10.55930
1823,430$0.13$0.1652.75%$35.00—$9.85$11.50270
—————$36.00—$10.15$12.50210

Forward $25.21. The 25-delta put carries +0.29 volatility points over the 25-delta call.

2026-12-18(84 days)ATM 45.70%±5.54skew -1.26
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1010$9.00$10.70—$15.00—————
12$3.75$6.25—$20.0048.66%$0.36$0.502476
—————$21.0047.03%$0.48$0.711510
110$4.00$4.20—$22.0046.05%$0.68$0.98250
—————$23.0047.59%$1.13$1.331122
160$2.79$3.10—$24.0048.24%$1.58$1.7788
442$2.13$2.62—$25.0047.12%$1.98$2.2464
81$1.73$2.0145.66%$26.00—————
67$1.49$1.8248.91%$27.00—$3.25$3.5094820
108101$1.08$1.3646.23%$28.00—————
111$0.86$1.1046.57%$29.00—————
11375$0.70$0.9047.31%$30.00—————
2520$0.56$0.9150.28%$31.00—————
0138$0.45$0.7049.95%$32.00—————

Forward $25.27. The 25-delta put carries -1.26 volatility points over the 25-delta call.

2027-01-15(112 days)ATM 47.39%±6.65skew -0.91
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01,946$9.10$10.60—$15.0054.90%$0.09$0.116070
01,802$7.80$8.55—$17.00—————
027$6.35$7.85—$18.00—————
04$5.55$7.05—$19.00—————
801,729$5.65$6.00—$20.0048.12%$0.52$0.693,3570
07$4.20$5.40—$21.0049.50%$0.77$1.052811
21,894$4.00$4.55—$22.0046.95%$1.04$1.195,81522
0148$3.45$4.20—$23.0045.68%$1.31$1.532912
5124$3.10$3.35—$24.0045.75%$1.73$1.972530
792,765$2.70$2.83—$25.0047.39%$2.37$2.494,3230
2324$2.27$2.3947.34%$26.00—$2.92$3.052485
1271,706$1.92$2.0347.74%$27.00—$3.55$3.702,1890
4501$1.59$1.7247.84%$28.00—$4.20$4.405295
7168$1.32$1.4548.01%$29.00—$4.95$5.351,6060
1723,725$1.11$1.1948.06%$30.00—$5.70$6.102,3731
31638$0.91$0.9747.86%$31.00—$6.50$6.901390
46410$0.73$0.8548.30%$32.00—$7.15$7.75281
12580$0.51$0.7547.83%$33.00—$8.25$8.80152
—————$34.00—$8.55$10.4561
8217,223$0.42$0.5549.96%$35.00—$9.95$11.104105
—————$36.00—$10.45$12.60530

Forward $25.34. The 25-delta put carries -0.91 volatility points over the 25-delta call.

2027-02-19(147 days)ATM 46.93%±7.54skew +0.12
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
055$9.40$10.90—$15.00—————
161$5.85$6.60—$20.00—————
—————$21.0049.79%$0.98$1.4611136
037$4.45$5.00—$22.0049.80%$1.23$1.923260
010$2.88$4.55—$23.0049.56%$1.61$2.33170
079$3.30$3.90—$24.0048.37%$2.07$2.65273
6198$2.87$3.35—$25.0047.48%$2.63$3.002,30210
012$2.00$3.0544.89%$26.00—————
038$2.08$2.8249.65%$27.00—$3.85$4.15190
229$1.80$2.2047.73%$28.00—$3.75$6.10240
038$1.50$2.2250.18%$29.00—$5.25$5.95110
20114$1.30$1.7949.18%$30.00—$6.00$7.2050
29$1.08$1.6049.47%$31.00—$6.55$7.50590
—————$32.00—$6.95$9.2080
2149$0.78$1.2049.68%$33.00—$8.45$8.90204
—————$34.00—$9.20$9.9042
1185$0.56$0.8849.67%$35.00—$10.20$10.8031

Forward $25.30. The 25-delta put carries +0.12 volatility points over the 25-delta call.

2027-05-21(238 days)ATM 50.18%±10.27skew -3.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$11.10$13.65—$13.00—————
02$9.45$11.35—$15.00—————
02$7.30$9.30—$18.00—————
47$6.55$7.60—$20.0051.30%$1.33$1.846152
—————$21.0048.63%$1.60$1.97010
0152$5.30$6.00—$22.0051.11%$2.02$2.691,9380
020$4.30$5.50—$23.0049.03%$2.33$2.9961
02$4.25$4.95—$24.0051.11%$2.76$3.85150
083$3.40$4.60—$25.0048.98%$3.20$4.15450
—————$26.00—$3.95$4.952950
090$3.00$3.7550.82%$27.00—$4.40$5.35220
130$2.67$3.2049.48%$28.00—$5.05$6.4540
—————$29.00—$5.60$6.60340
675$2.09$2.5849.15%$30.00—$6.45$7.5520
06$1.90$2.5450.87%$31.00—————
016$1.61$2.3450.60%$32.00—————
07$1.47$2.2952.08%$33.00—$8.90$9.6505
21$1.34$1.8050.30%$34.00—$9.65$10.3512
157$1.28$1.7051.54%$35.00—$10.60$12.10104
05$0.95$1.5252.02%$37.00—————
4044$0.73$0.9951.24%$40.00—————

Forward $25.33. The 25-delta put carries -3.39 volatility points over the 25-delta call.

2027-08-20(329 days)ATM 51.41%±12.47skew -0.48
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$11.30$13.85—$13.00—————
012$7.45$9.95—$18.0050.00%$1.11$1.471990
11$7.25$7.80—$20.0050.55%$1.60$2.4061,200
066$5.95$6.75—$22.0050.33%$2.53$3.101,6760
277$4.50$5.20—$25.0050.29%$4.05$4.603240
216$3.80$4.6051.41%$27.00—$5.15$6.00130
1178$3.10$3.4551.40%$30.00—$7.00$8.0510
4596$2.33$3.1551.03%$32.00—$8.45$9.5510
0421$1.76$2.5351.22%$35.00—————
074$1.14$1.6651.02%$40.00—————

Forward $25.55. The 25-delta put carries -0.48 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.