MARA 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 77.19%±1.34skew -1.17

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
18	2	$5.00	$5.10	—	$7.50	—	—	—	—	—
10	34	$4.50	$4.60	—	$8.00	—	—	—	—	—
6	10	$4.00	$4.15	—	$8.50	—	—	—	—	—
0	84	$3.50	$3.65	—	$9.00	—	—	—	—	—
14	169	$3.00	$3.15	—	$9.50	—	—	—	—	—
113	501	$2.54	$2.61	—	$10.00	87.04%	$0.01	$0.02	2,096	22
41	722	$2.06	$2.13	—	$10.50	83.95%	$0.03	$0.04	985	448
661	2,881	$1.60	$1.68	—	$11.00	79.26%	$0.06	$0.08	1,694	858
802	3,101	$1.17	$1.23	—	$11.50	75.98%	$0.13	$0.15	2,119	5,425
3,915	3,019	$0.83	$0.87	—	$12.00	76.06%	$0.27	$0.29	4,895	5,445
52,540	1,194	$0.56	$0.58	—	$12.50	77.24%	$0.48	$0.52	8,020	6,769
66,956	3,197	$0.35	$0.36	76.98%	$13.00	—	$0.77	$0.81	9,291	2,621
6,240	3,903	$0.20	$0.22	77.23%	$13.50	—	$1.13	$1.18	2,020	2,679
13,417	4,752	$0.12	$0.13	79.17%	$14.00	—	$1.54	$1.60	1,051	268
1,077	1,849	$0.07	$0.08	81.66%	$14.50	—	$1.98	$2.05	165	34
631	4,162	$0.04	$0.05	84.12%	$15.00	—	$2.45	$2.52	235	40
119	2,242	$0.03	$0.04	90.93%	$15.50	—	$2.94	$3.05	39	35
875	7,122	$0.02	$0.03	95.42%	$16.00	—	$3.40	$3.50	18	3
56	1,340	$0.01	$0.02	96.69%	$16.50	—	$3.90	$4.00	3	0
10	517	$0.01	$0.02	105.38%	$17.00	—	$4.40	$4.50	50	1
14	166	$0.01	$0.02	113.70%	$17.50	—	$4.90	$5.00	22	4

Forward $12.57. The 25-delta put carries -1.17 volatility points over the 25-delta call.

2026-10-09(14 days)ATM 77.83%±1.92skew -2.40

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	3	$5.00	$5.15	—	$7.50	—	—	—	—	—
0	9	$4.50	$4.65	—	$8.00	—	—	—	—	—
0	1	$4.00	$4.15	—	$8.50	97.98%	$0.01	$0.02	158	0
7	65	$3.55	$3.65	—	$9.00	92.93%	$0.02	$0.03	7,309	3
4	21	$3.05	$3.15	—	$9.50	85.29%	$0.03	$0.04	450	7
35	114	$2.59	$2.68	—	$10.00	82.94%	$0.06	$0.07	506	80
13	189	$2.13	$2.21	—	$10.50	78.64%	$0.10	$0.11	4,753	120
85	425	$1.71	$1.79	—	$11.00	75.91%	$0.17	$0.18	675	621
24	351	$1.34	$1.41	—	$11.50	76.54%	$0.29	$0.32	1,979	152
486	960	$1.04	$1.08	—	$12.00	76.95%	$0.47	$0.50	726	4,539
2,368	668	$0.79	$0.80	—	$12.50	77.46%	$0.70	$0.74	474	114
569	3,352	$0.58	$0.59	78.15%	$13.00	—	$0.98	$1.03	442	231
1,927	5,262	$0.40	$0.42	77.49%	$13.50	—	$1.32	$1.36	263	44
504	2,955	$0.28	$0.31	78.94%	$14.00	—	$1.69	$1.76	380	22
317	1,755	$0.21	$0.22	80.97%	$14.50	—	$2.11	$2.18	93	5
2,694	3,278	$0.14	$0.15	80.90%	$15.00	—	$2.54	$2.62	68	2
31	807	$0.09	$0.11	81.74%	$15.50	—	$3.00	$3.10	54	0
221	1,664	$0.07	$0.08	84.29%	$16.00	—	—	—	—	—
9	413	$0.05	$0.06	86.17%	$16.50	—	—	—	—	—
2	964	$0.04	$0.05	89.72%	$17.00	—	$4.40	$4.55	10	0
0	186	$0.02	$0.04	89.64%	$17.50	—	—	—	—	—

Forward $12.58. The 25-delta put carries -2.40 volatility points over the 25-delta call.

2026-10-16(21 days)ATM 78.52%±2.37skew -2.82

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	1	$5.00	$5.20	—	$7.50	—	—	—	—	—
10	137	$4.55	$4.70	—	$8.00	101.65%	$0.02	$0.04	2,311	7
—	—	—	—	—	$8.50	94.69%	$0.03	$0.05	0	15
2	502	$3.55	$3.70	—	$9.00	86.75%	$0.04	$0.06	8,568	20
—	—	—	—	—	$9.50	83.64%	$0.07	$0.09	8	10
296	2,481	$2.66	$2.74	—	$10.00	80.76%	$0.12	$0.13	4,515	208
66	22	$2.23	$2.32	—	$10.50	79.44%	$0.19	$0.21	547	72
153	4,704	$1.85	$1.92	—	$11.00	78.71%	$0.30	$0.32	4,743	695
99	31	$1.49	$1.56	—	$11.50	77.78%	$0.44	$0.47	1,737	479
270	9,017	$1.22	$1.25	—	$12.00	77.26%	$0.64	$0.65	6,844	289
338	286	$0.96	$0.99	—	$12.50	78.17%	$0.88	$0.91	2,669	66
499	11,863	$0.75	$0.78	78.74%	$13.00	—	$1.16	$1.20	1,137	883
251	646	$0.58	$0.61	79.41%	$13.50	—	$1.49	$1.52	1,378	17
792	11,888	$0.44	$0.47	79.72%	$14.00	—	$1.84	$1.89	1,044	8
13	540	$0.34	$0.36	80.61%	$14.50	—	$2.23	$2.31	191	201
221	12,279	$0.26	$0.28	81.69%	$15.00	—	$2.65	$2.73	208	20
17	266	$0.19	$0.21	81.70%	$15.50	—	$3.05	$3.20	37	0
200	6,108	$0.15	$0.17	83.76%	$16.00	—	$3.55	$3.65	245	1
3	206	$0.11	$0.13	84.18%	$16.50	—	$4.00	$4.10	1	0
97	2,557	$0.09	$0.11	86.77%	$17.00	—	$4.45	$4.60	41	0
0	189	$0.07	$0.09	88.30%	$17.50	—	—	—	—	—

Forward $12.58. The 25-delta put carries -2.82 volatility points over the 25-delta call.

2026-10-23(28 days)ATM 79.01%±2.76skew -1.92

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	4	$5.50	$5.70	—	$7.00	103.72%	$0.01	$0.03	10	0
—	—	—	—	—	$7.50	96.17%	$0.01	$0.04	25	2
0	6	$4.55	$4.70	—	$8.00	92.97%	$0.03	$0.05	47	3
0	101	$4.05	$4.20	—	$8.50	87.64%	$0.05	$0.06	146	2
1	8	$3.60	$3.75	—	$9.00	83.68%	$0.07	$0.09	206	80
1	5	$3.15	$3.25	—	$9.50	81.74%	$0.11	$0.14	7,904	26
32	100	$2.72	$2.81	—	$10.00	80.08%	$0.18	$0.20	238	286
1	153	$2.31	$2.41	—	$10.50	78.63%	$0.27	$0.29	177	186
18	462	$1.94	$2.03	—	$11.00	78.78%	$0.40	$0.43	392	229
114	253	$1.63	$1.70	—	$11.50	77.96%	$0.56	$0.59	1,028	2,064
53	232	$1.36	$1.40	—	$12.00	78.59%	$0.77	$0.81	903	100
270	356	$1.12	$1.15	—	$12.50	78.58%	$1.01	$1.06	302	35
153	1,200	$0.91	$0.94	79.09%	$13.00	—	$1.30	$1.35	207	39
83	999	$0.73	$0.76	79.33%	$13.50	—	$1.61	$1.67	89	4
122	3,329	$0.58	$0.61	79.53%	$14.00	—	$1.97	$2.02	77	0
40	1,163	$0.46	$0.49	80.00%	$14.50	—	$2.34	$2.40	169	0
307	4,550	$0.37	$0.39	80.70%	$15.00	—	$2.75	$2.85	61	10
7	262	$0.29	$0.32	81.54%	$15.50	—	$3.15	$3.30	47	0
35	448	$0.23	$0.26	82.39%	$16.00	—	$3.60	$3.75	14	0
27	2,395	$0.15	$0.17	84.28%	$17.00	—	$4.50	$4.65	4	0
48	322	$0.10	$0.12	86.94%	$18.00	—	$5.45	$5.60	1	0

Forward $12.60. The 25-delta put carries -1.92 volatility points over the 25-delta call.

2026-10-30(35 days)ATM 79.82%±3.11skew -1.92

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	2	$5.05	$5.20	—	$7.50	95.33%	$0.03	$0.06	7	0
7	2	$4.55	$4.70	—	$8.00	90.03%	$0.05	$0.07	19	2
0	1	$4.10	$4.25	—	$8.50	86.23%	$0.07	$0.10	21	21
4	20	$3.65	$3.80	—	$9.00	83.72%	$0.11	$0.14	164	147
0	20	$3.20	$3.35	—	$9.50	82.09%	$0.17	$0.20	50	90
5	36	$2.79	$2.90	—	$10.00	79.94%	$0.25	$0.27	656	529
69	30	$2.40	$2.51	—	$10.50	79.56%	$0.36	$0.39	408	27
42	263	$2.05	$2.15	—	$11.00	79.56%	$0.51	$0.54	248	89
44	191	$1.78	$1.83	—	$11.50	79.68%	$0.69	$0.73	232	128
210	209	$1.50	$1.54	—	$12.00	79.86%	$0.91	$0.95	281	34
87	353	$1.25	$1.30	—	$12.50	79.48%	$1.14	$1.21	292	41
342	375	$1.04	$1.09	79.82%	$13.00	—	$1.42	$1.50	303	62
36	3,044	$0.86	$0.90	79.84%	$13.50	—	$1.73	$1.82	91	16
730	4,436	$0.71	$0.75	80.37%	$14.00	—	$2.08	$2.17	687	406
71	169	$0.58	$0.61	80.27%	$14.50	—	$2.47	$2.54	57	0
603	774	$0.48	$0.51	81.17%	$15.00	—	$2.86	$2.96	30	1
14	191	$0.39	$0.42	81.48%	$15.50	—	$3.25	$3.40	8	0
84	1,314	$0.32	$0.35	82.19%	$16.00	—	$3.70	$3.80	12	0
361	639	$0.27	$0.29	83.16%	$16.50	—	—	—	—	—
21	506	$0.22	$0.24	83.61%	$17.00	—	$4.55	$4.70	1	0
29	228	$0.15	$0.18	85.84%	$18.00	—	$5.50	$5.65	1	1

Forward $12.60. The 25-delta put carries -1.92 volatility points over the 25-delta call.

2026-11-06(42 days)ATM 81.48%±3.49skew -2.83

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	—	$5.55	$5.75	—	$7.00	—	—	—	—	—
0	—	$5.05	$5.25	—	$7.50	—	—	—	—	—
1	—	$4.60	$4.80	—	$8.00	—	—	—	—	—
—	—	—	—	—	$9.50	84.22%	$0.22	$0.30	3	22
—	—	—	—	—	$10.00	81.77%	$0.30	$0.39	162	42
—	—	—	—	—	$10.50	82.62%	$0.44	$0.54	12	13
12	0	$2.18	$2.34	—	$11.00	82.24%	$0.59	$0.71	1	60
1	1	$1.88	$2.03	—	$11.50	81.24%	$0.76	$0.90	0	10
21	16	$1.61	$1.77	—	$12.00	82.21%	$1.01	$1.13	14	17
4	0	$1.37	$1.52	—	$12.50	81.91%	$1.25	$1.39	2	2
26	48	$1.16	$1.28	81.29%	$13.00	—	$1.52	$1.68	41	12
11	2	$0.98	$1.13	82.64%	$13.50	—	$1.85	$2.00	0	1
15	14	$0.82	$0.95	82.25%	$14.00	—	$2.21	$2.35	1	820
0	1	$0.69	$0.83	83.25%	$14.50	—	—	—	—	—
18	14	$0.58	$0.71	83.69%	$15.00	—	—	—	—	—
0	1	$0.48	$0.62	84.35%	$15.50	—	—	—	—	—
2	130	$0.41	$0.53	85.07%	$16.00	—	—	—	—	—
34	0	$0.28	$0.39	85.66%	$17.00	—	—	—	—	—
17	1	$0.24	$0.34	86.64%	$17.50	—	—	—	—	—
19	1	$0.20	$0.30	87.43%	$18.00	—	—	—	—	—
8	2	$0.18	$0.26	88.65%	$18.50	—	—	—	—	—

Forward $12.63. The 25-delta put carries -2.83 volatility points over the 25-delta call.

2026-11-20(56 days)ATM 84.96%±4.21skew -2.99

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	3	$9.50	$9.70	—	$3.00	—	—	—	—	—
0	2	$8.50	$8.70	—	$4.00	130.69%	$0.01	$0.02	53	0
0	2	$7.55	$7.70	—	$5.00	106.71%	$0.01	$0.02	58	3
0	82	$6.55	$6.70	—	$6.00	96.75%	$0.02	$0.04	234	1
0	69	$5.60	$5.75	—	$7.00	93.24%	$0.07	$0.08	1,063	72
4	176	$4.70	$4.85	—	$8.00	90.11%	$0.15	$0.17	1,252	12
1	87	$3.85	$4.00	—	$9.00	86.52%	$0.28	$0.31	6,539	73
9	665	$3.05	$3.20	—	$10.00	84.74%	$0.51	$0.53	2,615	114
61	3,172	$2.45	$2.51	—	$11.00	84.14%	$0.84	$0.87	5,336	91
138	2,580	$1.92	$1.95	—	$12.00	84.51%	$1.29	$1.33	1,626	140
201	4,206	$1.49	$1.52	84.60%	$13.00	—	$1.84	$1.88	1,144	280
279	3,142	$1.16	$1.18	85.70%	$14.00	—	$2.49	$2.54	226	0
649	3,711	$0.88	$0.90	85.75%	$15.00	—	$3.20	$3.30	358	17
121	2,834	$0.67	$0.70	86.54%	$16.00	—	$4.00	$4.10	1,530	182
25	2,627	$0.51	$0.54	87.13%	$17.00	—	$4.85	$4.95	113	0
93	4,543	$0.40	$0.42	88.25%	$18.00	—	$5.70	$5.85	14	0
59	3,478	$0.31	$0.33	89.17%	$19.00	—	$6.60	$6.75	104	0
97	2,140	$0.24	$0.27	90.45%	$20.00	—	$7.55	$7.70	5	0
12	109	$0.19	$0.22	91.70%	$21.00	—	$8.50	$8.65	3	0
319	1,559	$0.16	$0.18	93.41%	$22.00	—	—	—	—	—

Forward $12.64. The 25-delta put carries -2.99 volatility points over the 25-delta call.

2026-12-18(84 days)ATM 83.67%±5.09skew -3.14

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	216	$9.25	$9.80	—	$3.00	146.26%	$0.01	$0.05	1,063	0
0	6	$8.25	$8.70	—	$4.00	118.17%	$0.01	$0.05	1,257	0
50	1,761	$7.30	$7.80	—	$5.00	105.30%	$0.04	$0.06	3,152	0
0	246	$6.35	$6.80	—	$6.00	94.64%	$0.07	$0.09	981	26
0	344	$5.45	$5.85	—	$7.00	89.47%	$0.14	$0.16	19,910	26
0	1,275	$4.55	$5.00	—	$8.00	85.97%	$0.26	$0.28	6,341	23
0	917	$3.75	$4.20	—	$9.00	83.73%	$0.44	$0.48	5,644	32
15	5,079	$3.30	$3.45	—	$10.00	83.16%	$0.74	$0.76	10,664	168
243	3,740	$2.69	$2.83	—	$11.00	82.72%	$1.11	$1.15	5,998	36
54	4,522	$2.26	$2.31	—	$12.00	82.86%	$1.59	$1.63	1,781	21
252	3,929	$1.84	$1.87	83.31%	$13.00	—	$2.16	$2.20	1,605	144
1,896	4,228	$1.50	$1.52	83.81%	$14.00	—	$2.81	$2.85	1,629	24
1,495	8,304	$1.22	$1.24	84.38%	$15.00	—	$3.50	$3.60	1,452	429
62	3,630	$0.98	$1.02	84.83%	$16.00	—	$4.25	$4.35	423	0
17	6,575	$0.82	$0.84	86.04%	$17.00	—	$5.10	$5.50	733	0
637	6,972	$0.66	$0.69	86.30%	$18.00	—	$5.85	$6.35	474	0
318	1,176	$0.56	$0.58	87.70%	$19.00	—	$6.75	$7.25	47	0
254	9,275	$0.47	$0.49	88.76%	$20.00	—	$7.70	$8.10	1,073	0
35	562	$0.39	$0.41	89.36%	$21.00	—	$8.55	$9.15	152	0
7	2,013	$0.33	$0.35	90.34%	$22.00	—	$9.60	$10.00	323	0
0	309	$0.27	$0.39	94.34%	$23.00	—	$10.45	$11.05	20	0

Forward $12.67. The 25-delta put carries -3.14 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.