Options Skew Analytics

KRE 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 25.94%±1.68skew -0.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$6.15$8.20—$65.00—————
20$5.20$7.00—$66.00—————
10$4.15$6.00—$67.00—————
—————$69.0031.29%$0.07$0.101231,027
—————$69.5029.94%$0.10$0.154290
46$1.71$1.95—$70.0027.77%$0.14$0.201,394610
40$1.32$1.60—$70.5027.05%$0.23$0.30618549
0100$0.99$1.18—$71.0026.28%$0.36$0.442,4982,126
200218$0.71$0.80—$71.5026.07%$0.55$0.655641,761
30352$0.46$0.5625.73%$72.00—$0.78$0.883,2351,027
19483$0.29$0.3825.90%$72.50—$1.00$1.261,081539
68217$0.20$0.2627.09%$73.00—$1.42$1.692,6298
—————$73.50—$1.74$2.121633
81,298$0.07$0.1328.84%$74.00—$2.20$2.5696815
—————$74.50—$2.65$3.055560
—————$75.00—$3.10$3.553,471503
96753$0.01$0.0430.93%$75.50—————
5665$0.01$0.0231.45%$76.00—$4.20$4.503,3632
—————$78.00—$4.75$7.9010
—————$79.00—$5.65$8.9501
—————$79.50—$6.15$9.4021

Forward $71.66. The 25-delta put carries -0.04 volatility points over the 25-delta call.

2026-09-30(8 days)ATM 22.66%±2.41skew +1.67
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$13.20$14.95—$58.00—————
20$3.60$4.10—$68.00—————
—————$69.0026.17%$0.20$0.26592,026
53799$2.01$2.28—$70.0024.20%$0.33$0.4324328
6259$1.29$1.43—$71.0022.71%$0.58$0.71554121
366375$0.76$0.8822.65%$72.00—$1.05$1.18190462
58299$0.42$0.4822.53%$73.00—$1.54$1.935561,101
0167$0.20$0.2823.09%$74.00—$2.28$2.7512,17721
—————$75.00—$3.15$3.602323
—————$80.00—$6.70$10.0050

Forward $71.70. The 25-delta put carries +1.67 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 23.25%±2.76skew +1.33
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$68.0027.96%$0.16$0.246032,067
—————$69.0025.69%$0.24$0.35455349
—————$69.5025.39%$0.33$0.455,020865
03$2.07$2.43—$70.0024.50%$0.43$0.54194640
—————$70.5024.24%$0.56$0.70250996
03$1.45$1.59—$71.0023.54%$0.72$0.851,1741,844
24657$1.14$1.29—$71.5023.32%$0.93$1.066551,471
30061$0.90$1.0323.19%$72.00—$1.14$1.31592415
1,74184$0.68$0.8223.04%$72.50—$1.44$1.6220176
102139$0.53$0.6523.35%$73.00—$1.63$1.991,032251
10216$0.37$0.5123.17%$73.50—$1.95$2.3739181
101,416$0.29$0.4023.71%$74.00—$2.34$2.7880
063$0.21$0.3123.94%$74.50—$2.74$3.20226
360$0.15$0.2424.20%$75.00—$3.15$3.702,0040
—————$75.50—$3.60$4.1060
—————$76.00—$4.10$4.603020
—————$78.00—$5.15$8.0050

Forward $71.72. The 25-delta put carries +1.33 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 22.96%±3.56skew +0.64
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$66.0028.97%$0.14$0.221,5109
—————$67.0026.94%$0.20$0.2703
—————$68.0025.81%$0.30$0.3922
—————$69.0024.41%$0.44$0.54217
—————$69.5023.94%$0.54$0.65771
—————$70.0023.20%$0.63$0.78123
017$2.05$2.37—$70.5023.42%$0.81$0.9720
306$1.77$1.98—$71.0023.18%$0.99$1.161630
046$1.48$1.64—$71.5023.16%$1.21$1.3910
232$1.21$1.3822.86%$72.00—$1.45$1.621,0031
5218$0.97$1.1622.65%$72.50—$1.72$1.93360
0136$0.80$0.9622.73%$73.00—$1.84$2.245112
068$0.63$0.8022.71%$73.50—$2.14$2.63340
0197$0.53$0.6623.10%$74.00—$2.49$3.055090
112$0.43$0.5423.30%$74.50—$2.85$3.45440
424$0.30$0.4523.07%$75.00—$3.30$3.85430
—————$75.50—$3.70$4.3090
—————$77.50—$5.55$6.1540

Forward $71.76. The 25-delta put carries +0.64 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 22.40%±4.13skew +2.05
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
047$6.75$7.35—$65.0029.17%$0.17$0.2544,11826
61$5.95$6.40—$66.00—————
02$5.05$5.50—$67.0026.74%$0.30$0.4570185
01$4.05$4.60—$68.0025.08%$0.43$0.532,5032
0153$3.40$3.80—$69.0024.21%$0.61$0.723,0871,300
46819$2.66$2.95—$70.0023.78%$0.90$0.9837,1923,376
20$2.34$2.64—$70.5022.88%$0.94$1.18948
4861$2.04$2.19—$71.0023.28%$1.24$1.3458,7201,499
1700$1.69$1.94—$71.5022.38%$1.33$1.5701,933
14262$1.49$1.6922.40%$72.00—$1.58$1.8212,63213
20$1.26$1.4522.29%$72.50—$1.80$2.1101
3703$1.03$1.2522.11%$73.00—$2.16$2.394,46023
—————$73.50—$2.35$2.8140
63,040$0.68$0.9121.99%$74.00—$2.82$3.101,8587
015$0.57$0.7221.77%$74.50—————
2,25720,920$0.52$0.5822.16%$75.00—$3.45$3.9543,75422
56843$0.42$0.5522.85%$75.50—————
38508$0.31$0.4722.72%$76.00—$4.25$4.8569
991,317$0.23$0.3323.41%$77.00—$5.10$5.753813
1502$0.20$0.2823.83%$77.50—————
—————$78.00—$6.05$6.65130

Forward $71.89. The 25-delta put carries +2.05 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 22.51%±4.72skew +2.26
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$67.0026.19%$0.43$0.58480
211$4.30$4.90—$68.0025.39%$0.57$0.77126
—————$68.5024.85%$0.68$0.845700
—————$69.0024.28%$0.76$0.9610
—————$69.5023.95%$0.90$1.08200
20$2.80$3.35—$70.0023.40%$1.01$1.2370
580$2.50$3.05—$70.5023.29%$1.18$1.422301
—————$71.0023.19%$1.36$1.64351
025$1.99$2.28—$71.5022.96%$1.58$1.8401
620$1.68$1.9822.49%$72.00—$1.83$2.018,44846
034$1.53$1.7422.89%$72.50—$2.09$2.34440
020$1.30$1.5322.75%$73.00—$2.32$2.6420
045$1.11$1.3422.72%$73.50—————
018$0.92$1.1722.58%$74.00—————
09$0.79$1.0222.72%$74.50—$3.15$3.9020
038$0.66$0.9022.85%$75.00—$3.45$4.30590
05$0.53$0.7622.59%$75.50—$3.85$4.70920
0129$0.43$0.6822.80%$76.00—$4.25$5.1055
02$0.36$0.5722.79%$76.50—————

Forward $71.91. The 25-delta put carries +2.26 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 24.09%±5.61skew +3.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$68.0026.00%$0.70$0.96025
—————$70.0024.24%$1.14$1.471013
—————$72.0024.93%$1.86$2.611751
21$1.43$1.8521.95%$73.00—$1.90$3.10810
90$1.33$1.5321.83%$73.50—$2.18$3.6020
30$1.03$1.6122.64%$74.00—————
—————$75.00—$3.00$4.35120
2577$0.41$0.6522.31%$77.00—————

Forward $72.14. The 25-delta put carries +3.69 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 23.43%±6.80skew +2.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0116$10.10$10.85—$62.00—————
0139$9.15$9.90—$63.00—————
0842$8.25$8.95—$64.0027.11%$0.42$0.593,0464
0316$7.40$8.15—$65.0026.38%$0.57$0.679,54515
65821$6.60$7.30—$66.0026.07%$0.72$0.8611,8103
0902$5.80$6.45—$67.0025.39%$0.89$1.041,4396
0579$5.05$5.60—$68.0025.15%$1.17$1.263,08522
311583$4.55$4.70—$69.0024.51%$1.41$1.534,9541
2333$3.75$4.25—$70.0024.44%$1.80$1.8656,6044,319
33240$3.15$3.55—$71.0023.96%$2.04$2.361,01723
1143$2.63$2.99—$72.0023.84%$2.52$2.811,72520
38111,674$2.16$2.3522.99%$73.00—$3.10$3.3010,711304
2305,254$1.81$1.9823.35%$74.00—$3.65$3.955,6622
18916,343$1.47$1.6223.31%$75.00—$4.00$4.752,2524
0489$1.06$1.3622.92%$76.00—————
41,367$0.86$1.0923.04%$77.00—————
76752$0.75$0.8523.40%$78.00—————
14223$0.58$0.7824.08%$79.00—————
76518,032$0.48$0.5824.02%$80.00—$8.20$9.001,8920
3530$0.37$0.5324.64%$81.00—————
329178$0.29$0.4024.55%$82.00—————

Forward $72.15. The 25-delta put carries +2.11 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.