Options Skew Analytics

LVS 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 34.20%±1.23skew +4.47
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
20$5.50$6.15—$34.00—————
20$4.50$5.35—$35.00—————
51$3.50$4.15—$36.00—————
21$2.52$3.25—$37.00—————
—————$37.5044.94%$0.03$0.07481
—————$38.5040.79%$0.11$0.18302
66$0.85$1.41—$39.0038.71%$0.19$0.291962
—————$39.5036.15%$0.33$0.433514
4862$0.34$0.4533.71%$40.00—$0.52$0.6627535
414$0.18$0.2734.24%$40.50—————
—————$41.00—$1.06$1.711482
4114$0.05$0.1138.44%$41.50—————
216131$0.03$0.0538.87%$42.00—$1.94$2.51934
—————$42.50—$2.07$3.00131
—————$43.00—$2.60$3.458113
—————$44.00—$3.20$4.501050
—————$44.50—$3.90$5.05181
—————$45.00—$4.05$5.45171
—————$45.50—$4.85$6.1002
—————$46.00—$4.95$6.6002
—————$46.50—$5.65$7.0013

Forward $39.80. The 25-delta put carries +4.47 volatility points over the 25-delta call.

2026-10-02(10 days)ATM 32.85%±2.16skew +2.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$36.0040.53%$0.05$0.1040
015$3.20$4.80—$36.50—————
—————$37.0039.75%$0.13$0.21285
—————$37.5038.39%$0.18$0.2812
—————$38.0037.31%$0.26$0.372912
10$1.54$1.85—$38.5035.96%$0.36$0.4810
—————$39.0034.58%$0.48$0.63553
—————$39.5033.33%$0.64$0.8211
235389$0.70$0.8332.73%$40.00—$0.88$1.054252
528$0.49$0.6232.47%$40.50—$0.94$1.4910
951$0.34$0.4632.71%$41.00—$1.41$1.86363
06$0.23$0.3533.35%$41.50—$1.84$2.2061
120$0.16$0.2634.12%$42.00—$1.92$2.60440
—————$43.00—$2.35$3.601250
—————$44.00—$3.35$4.45490
—————$45.00—$3.55$5.551080
—————$46.00—$4.55$6.70500

Forward $39.80. The 25-delta put carries +2.60 volatility points over the 25-delta call.

2026-10-09(17 days)ATM 31.76%±2.73skew +3.05
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$37.0037.34%$0.23$0.36300
—————$37.5035.69%$0.29$0.4330
06$2.10$3.25—$38.0034.58%$0.38$0.532060
—————$39.0032.62%$0.64$0.812865
—————$39.5032.10%$0.84$1.00062
43$0.97$1.0831.73%$40.00—$1.09$1.22432
01$0.70$0.8831.15%$40.50—————
0133$0.52$0.6630.51%$41.00—$1.48$2.001191
36$0.30$0.4131.53%$42.00—————
—————$42.50—$2.70$3.1501
—————$44.00—$3.20$4.50370
—————$45.00—$3.60$5.65290
—————$46.00—$4.60$6.7510

Forward $39.87. The 25-delta put carries +3.05 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 32.01%±3.27skew +1.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
11$9.35$10.90—$30.00—————
027$4.80$6.45—$35.00—————
—————$37.0035.04%$0.31$0.48419
—————$37.5033.11%$0.41$0.502,74166
—————$38.0034.20%$0.53$0.731021
—————$38.5032.91%$0.66$0.8430
—————$39.0032.58%$0.85$1.01535
—————$39.5032.67%$1.05$1.26934
18566$1.13$1.3332.01%$40.00—$1.28$1.481,97610
256$0.90$1.1432.19%$40.50—$1.42$1.7945
1255$0.67$0.9531.63%$41.00—$1.45$2.0901
720$0.55$0.7431.49%$41.50—————
6714$0.46$0.6032.05%$42.00—————
952,322$0.36$0.4531.65%$42.50—$2.68$3.301,819159
12$0.27$0.4132.60%$43.00—————
029$0.20$0.2831.63%$43.50—————
58$0.15$0.2532.52%$44.00—————
—————$45.00—$4.65$5.502,12130
3617$0.01$0.0634.68%$47.50—$6.30$8.205429
41,411$0.01$0.0339.60%$50.00—————

Forward $39.85. The 25-delta put carries +1.45 volatility points over the 25-delta call.

2026-10-30(38 days)ATM 38.51%±5.01skew +6.94
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$35.0045.04%$0.37$0.58211
—————$37.0042.50%$0.76$0.94325
—————$38.0040.82%$0.99$1.2040
—————$39.0041.51%$1.31$1.7270
10$1.58$2.06—$40.0040.27%$1.74$2.09260
306$0.85$1.4135.01%$42.00—$2.30$3.3001
012$0.66$1.0535.56%$43.00—$2.55$4.05100
—————$44.00—$3.25$4.85560
9194$0.33$0.4734.39%$45.00—————

Forward $40.32. The 25-delta put carries +6.94 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 35.84%±6.98skew +3.40
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$18.80$21.45—$20.00—————
034$13.75$16.50—$25.00—————
024$12.10$14.10—$27.50—————
018$9.80$11.70—$30.00—————
086$7.70$9.35—$32.5040.62%$0.46$0.647750
0195$5.60$7.30—$35.0038.47%$0.94$1.05349148
0200$3.75$5.20—$37.5036.35%$1.57$1.8050715
4415,612$2.57$2.8735.99%$40.00—$2.77$2.871,31826
26772$1.63$1.7535.18%$42.50—$4.00$4.451,443151
3335$0.88$1.1635.07%$45.00—$5.15$6.301,2670
3460$0.50$0.6434.62%$47.50—$6.80$8.554360
5713$0.23$0.3834.34%$50.00—$9.20$10.753870
—————$52.50—$11.30$13.151310
—————$55.00—$13.70$15.601520
—————$57.50—$15.75$18.35440
—————$60.00—$18.30$22.30220
—————$62.50—$20.75$23.7540

Forward $39.90. The 25-delta put carries +3.40 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 34.85%±7.83skew +3.12
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
015$18.80$21.45—$20.00—————
016$16.50$19.00—$22.50—————
0170$14.10$16.60—$25.00—————
0128$12.25$13.95—$27.50—————
51,005$10.00$10.50—$30.00—————
057$7.80$9.65—$32.5038.47%$0.61$0.75690
11177$6.05$6.40—$35.0036.81%$1.07$1.294161
086$4.25$5.55—$37.5035.37%$1.79$2.0875212
81,003$2.91$3.30—$40.0034.94%$2.88$3.2545924
1501,015$1.90$2.2834.67%$42.50—$4.25$4.701,6161
61,755$1.15$1.4633.81%$45.00—$6.00$6.651,4172
0318$0.66$0.9633.69%$47.50—$7.25$8.754000
102,026$0.50$0.6335.13%$50.00—$9.15$10.801,6490
—————$52.50—$11.35$13.152350
—————$55.00—$13.90$15.701420
—————$57.50—$16.15$18.002670
—————$60.00—$18.30$21.25300
—————$62.50—$20.80$23.7090
—————$65.00—$23.30$26.2510

Forward $40.04. The 25-delta put carries +3.12 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 35.03%±9.81skew +3.34
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$14.85$16.75—$25.00—————
04$12.60$14.45—$27.50—————
010$10.30$12.25—$30.0039.55%$0.61$0.803230
05$8.25$10.10—$32.5038.44%$0.98$1.36470
09$6.65$8.25—$35.0036.70%$1.55$1.981890
07$5.05$6.25—$37.5036.23%$2.58$2.7924051
180800$3.75$4.15—$40.0035.77%$3.75$3.954460
2211,040$2.72$2.8934.39%$42.50—$4.90$5.404605
169672$1.90$2.0733.93%$45.00—$6.05$7.202550
0966$1.25$1.4633.36%$47.50—$8.40$9.151920
2361$0.82$1.1934.23%$50.00—$9.65$11.15490
5132$0.62$0.7534.07%$52.50—$11.85$13.45740
—————$55.00—$13.95$15.70660
—————$60.00—$18.70$20.70110

Forward $40.10. The 25-delta put carries +3.34 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.