Options Skew Analytics

KMI option chain

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

Data as of 22 September 2026 (end of day)

2026-09-25(3 days)ATM 30.10%±0.85skew +1.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
40$10.05$10.60—$21.00—————
13$8.10$8.60—$23.00—————
21$7.10$7.60—$24.00—————
51$6.10$6.60—$25.00—————
01$4.95$5.60—$26.00—————
11$4.10$4.65—$27.00—————
21$3.20$3.40—$28.00—————
012$2.17$2.38—$29.00—————
3214$1.75$1.86—$29.50—————
436$1.22$1.41—$30.0034.61%$0.02$0.0626015
3337$0.81$0.95—$30.5032.25%$0.07$0.129974
121338$0.44$0.57—$31.0030.71%$0.20$0.24341632
150271$0.21$0.2829.93%$31.50—$0.39$0.52939
154753$0.08$0.1330.74%$32.00—$0.72$0.886407
69328$0.02$0.0631.71%$32.50—$1.16$1.35514
201,419$0.01$0.0436.74%$33.00—$1.64$1.87274
—————$33.50—$2.14$2.3610
—————$34.00—$2.64$2.8610
—————$36.00—$4.40$4.9501
—————$36.50—$4.80$5.5001
—————$41.00—$9.45$9.9501

Forward $31.29. The 25-delta put carries +1.51 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 26.03%±1.35skew +0.13
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$10.00$10.85—$21.00—————
—————$28.5030.92%$0.01$0.03025
635$2.26$2.45—$29.0030.01%$0.03$0.05420
190$1.76$1.98—$29.5027.81%$0.06$0.0744367
086$1.34$1.53—$30.0028.18%$0.12$0.1623371
022$0.93$1.12—$30.5026.46%$0.21$0.252428
11110$0.65$0.76—$31.0026.21%$0.37$0.4325594
31833$0.41$0.4825.92%$31.50—$0.57$0.71792
48429$0.23$0.2825.47%$32.00—$0.85$1.022951
8163$0.13$0.1726.33%$32.50—$1.23$1.4601
133338$0.06$0.0926.14%$33.00—$1.66$1.892100
1152$0.03$0.0828.94%$33.50—$2.14$2.3910
52,604$0.01$0.0630.48%$34.00—————

Forward $31.30. The 25-delta put carries +0.13 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 25.70%±1.74skew +1.35
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$8.05$8.65—$23.00—————
—————$27.0038.48%$0.01$0.06701
25$2.29$2.55—$29.00—————
—————$29.5028.11%$0.13$0.1801
01$1.45$1.66—$30.0027.25%$0.20$0.289111
01$1.11$1.28—$30.5026.94%$0.32$0.4329
745$0.79$0.94—$31.0025.54%$0.49$0.576319
10$0.56$0.6725.72%$31.50—$0.72$0.8410
10108$0.36$0.4224.64%$32.00—$0.96$1.15240
02$0.23$0.3225.90%$32.50—————
92,743$0.14$0.1925.53%$33.00—————
0785$0.05$0.1027.52%$34.00—————
021$0.01$0.0629.49%$35.00—————

Forward $31.33. The 25-delta put carries +1.35 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 24.13%±1.94skew +1.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0153$7.20$7.50—$24.00—————
019$6.20$6.50—$25.00—————
027$5.20$5.50—$26.0038.20%$0.01$0.05340
085$4.30$4.50—$27.0029.51%$0.01$0.03280
0135$3.25$3.55—$28.0029.36%$0.05$0.0810424
262$2.39$2.61—$29.0027.55%$0.13$0.1642719
—————$29.5027.03%$0.19$0.2530
1277$1.56$1.75—$30.0025.74%$0.29$0.3286151
028$1.20$1.38—$30.5024.95%$0.42$0.452619
2773$0.88$1.03—$31.0024.43%$0.60$0.633,26314
07$0.68$0.7224.10%$31.50—$0.83$0.8711442
812,343$0.48$0.5124.03%$32.00—$1.10$1.1982912
2689$0.32$0.4024.79%$32.50—————
1,0579,461$0.21$0.2624.49%$33.00—$1.77$2.03120
5055$0.14$0.2025.44%$33.50—————
16011,526$0.09$0.1225.19%$34.00—$2.65$2.92250
017$0.06$0.1126.89%$34.50—————
024$0.01$0.0629.71%$36.00—————
20$0.01$0.0632.09%$36.50—————

Forward $31.35. The 25-delta put carries +1.25 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 25.78%±2.36skew +1.93
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
200$3.30$3.65—$28.00—————
09$2.46$2.73—$29.0029.20%$0.18$0.30260
019$1.65$1.93—$30.0027.57%$0.37$0.50533
76$1.07$1.25—$31.0026.11%$0.70$0.819211
0142$0.59$0.7625.63%$32.00—$1.15$1.36285
47106$0.29$0.4425.65%$33.00—$1.82$2.0650
5081,208$0.07$0.1226.64%$35.00—$3.60$3.9507

Forward $31.41. The 25-delta put carries +1.93 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 26.55%±2.69skew +1.01
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$24.0041.29%$0.01$0.0540
—————$29.0028.09%$0.24$0.34380
09$1.76$2.06—$30.0027.42%$0.45$0.61341
09$1.16$1.38—$31.0026.90%$0.79$1.017517
4628$0.67$0.9026.32%$32.00—$1.24$1.5430
139$0.38$0.5526.41%$33.00—————
420$0.19$0.3025.98%$34.00—————

Forward $31.37. The 25-delta put carries +1.01 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 27.15%±3.40skew +1.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$26.0031.98%$0.10$0.1610
015$4.35$4.90—$27.0029.40%$0.17$0.20700
050$3.35$3.95—$28.0028.32%$0.28$0.341489
03$2.51$3.05—$29.0027.24%$0.46$0.54734
1235$1.95$2.21—$30.0026.25%$0.75$0.814113
170$1.36$1.52—$31.0027.33%$1.15$1.3970
0299$0.89$1.0326.47%$32.00—$1.53$1.81160
44275$0.58$0.6225.71%$33.00—$2.02$2.5510
22653$0.33$0.4526.15%$34.00—————
15108$0.20$0.2425.60%$35.00—————
2420$0.12$0.1826.76%$36.00—————

Forward $31.17. The 25-delta put carries +1.08 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 25.48%±3.89skew +2.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
021$10.95$11.95—$20.00—————
—————$23.0033.47%$0.03$0.071,4150
010$7.15$7.95—$24.00—————
4157$6.25$6.95—$25.0031.13%$0.11$0.151,65925
06$5.30$5.95—$26.0030.09%$0.18$0.231690
0303$4.35$5.00—$27.0028.43%$0.27$0.321,33116
0620$3.55$4.10—$28.0027.37%$0.42$0.471,120117
0147$2.73$3.30—$29.0026.62%$0.64$0.7052213
11,568$2.10$2.55—$30.0025.98%$0.97$0.991,87118
31,400$1.63$1.75—$31.0025.71%$1.37$1.441,829134
1151,170$1.18$1.2525.28%$32.00—$1.81$1.9930412
2242,572$0.82$0.8724.98%$33.00—$2.19$2.801110
122,410$0.52$0.6024.58%$34.00—$2.91$3.503270
332,776$0.34$0.4024.57%$35.00—$3.70$4.40730
7274,849$0.24$0.2725.09%$36.00—$4.55$5.25500
0740$0.15$0.2125.78%$37.00—————
126,428$0.10$0.1225.60%$38.00—————

Forward $31.29. The 25-delta put carries +2.04 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.