Options Skew Analytics

MGM option chain

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

Data as of 9 November 2026 (end of day)

2026-12-18(39 days)ATM 36.54%±3.97skew +3.59
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$16.80$19.30—$15.00—————
015$11.70$14.00—$20.00—————
059$9.30$10.50—$23.00—————
21,407$7.50$8.40—$25.0049.70%$0.05$0.102,1596
6588$5.10$5.60—$28.0042.70%$0.20$0.254,9884,255
2288$4.40$4.70—$29.0040.59%$0.25$0.401,03844
28666$3.40$3.90—$30.0041.31%$0.50$0.603,433930
1593$2.80$3.10—$31.0038.97%$0.65$0.851,4430
381,098$2.25$2.40—$32.0038.72%$1.00$1.206402
422,973$1.60$1.80—$33.0036.89%$1.40$1.551,6652
211,192$1.10$1.3536.24%$34.00—$1.85$2.152723
1121,360$0.75$0.9535.66%$35.00—$2.55$2.801,0631
1951,048$0.50$0.6535.38%$36.00—$3.20$3.501130
37750$0.35$0.4535.95%$37.00—$3.90$5.001010
241,096$0.20$0.3035.45%$38.00—$4.80$5.901,2060
—————$40.00—$6.80$7.90500
—————$42.00—$7.90$10.40110
—————$45.00—$11.40$13.001220

Forward $33.23. The 25-delta put carries +3.59 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 36.45%±5.20skew +2.99
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
41,036$17.70$18.50—$15.00—————
501,858$12.30$13.70—$20.00—————
019$9.50$10.70—$23.00—————
0769$7.50$8.80—$25.00—————
200$6.60$7.70—$26.00—————
01,691$4.80$5.80—$28.0037.49%$0.30$0.402,054700
—————$29.0037.15%$0.45$0.60170
162,900$3.90$4.20—$30.0037.21%$0.65$0.902,70411
5528$3.10$3.70—$31.0036.33%$0.95$1.151,6150
1111,149$2.55$2.85—$32.0037.01%$1.30$1.652,3163
22675$2.00$2.30—$33.0035.78%$1.75$2.0069212
5289$1.65$1.8536.65%$34.00—$2.30$2.60337
441,775$1.15$1.4034.85%$35.00—$2.90$3.301,1480
2290$0.85$1.1034.92%$36.00—$3.50$4.40200
431,837$0.60$0.8034.22%$37.00—$4.20$5.202310
72,026$0.45$0.6535.12%$38.00—$4.90$6.102410
03,269$0.30$0.4534.32%$39.00—$5.80$7.0010
—————$40.00—$6.90$8.00843180
—————$41.00—$7.60$8.9010
—————$45.00—$11.00$13.4020

Forward $33.28. The 25-delta put carries +2.99 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 38.02%±7.59skew +2.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$9.80$11.10—$23.00—————
5417$8.10$9.30—$25.0040.27%$0.30$0.452710
—————$26.0039.51%$0.40$0.601500
—————$27.0039.18%$0.60$0.752,21011
2435$5.70$6.50—$28.0038.56%$0.80$0.9517,88010
1128$5.30$5.80—$29.0038.52%$1.00$1.308990
33656$4.90$5.10—$30.0038.08%$1.30$1.605,08116
069$3.70$4.80—$31.0038.01%$1.65$2.00650
073$3.40$4.00—$32.0037.22%$2.05$2.35202
15582$2.75$3.30—$33.0036.10%$2.45$2.752491
466$2.55$2.8537.65%$34.00—$3.00$3.40641
283,256$2.25$2.5038.54%$35.00—$3.60$4.0020610
22123$1.75$2.0536.89%$36.00—————
34869$1.45$1.8537.58%$37.00—$4.90$5.704330
364$0.95$1.2036.27%$39.00—$6.30$7.3090
13221$0.75$1.0036.06%$40.00—$7.10$8.3050
6161$0.60$0.8035.72%$41.00—————
0136$0.50$0.6535.81%$42.00—$8.80$10.1020
14286$0.40$0.5535.99%$43.00—————
012$0.30$0.4535.74%$44.00—————
0174$0.25$0.3535.68%$45.00—————

Forward $33.43. The 25-delta put carries +2.46 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 38.54%±10.07skew +3.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$11.20$12.50—$22.00—————
01$10.40$11.60—$23.00—————
01$9.00$9.80—$25.0041.10%$0.65$1.057020
—————$26.0041.36%$0.90$1.304380
02$7.20$8.40—$27.0040.68%$1.10$1.55290
01$6.60$7.70—$28.0039.94%$1.35$1.80520
011$5.90$7.00—$29.0040.32%$1.70$2.20880
0246$5.30$6.50—$30.0039.63%$2.00$2.551,8970
036$4.70$5.80—$31.0039.11%$2.35$2.95100
773$4.20$5.20—$32.0038.98%$2.80$3.40340
056$3.80$4.60—$33.0038.46%$3.20$3.90610
0179$3.30$4.2038.56%$34.00—$3.80$4.4010
1128$3.00$3.7038.53%$35.00—$4.20$5.001340
04$2.70$3.3038.65%$36.00—————
021$2.35$2.9538.43%$37.00—$5.40$6.4050
332$2.05$2.6038.14%$38.00—$6.10$7.10130
3102$1.80$2.2537.78%$39.00—————
337$1.55$2.0037.65%$40.00—$7.60$8.7080
137$1.30$1.7036.93%$41.00—————
137$0.95$1.4037.26%$43.00—$10.00$11.3060
11,370$0.70$1.0536.93%$45.00—$11.70$13.001070

Forward $33.64. The 25-delta put carries +3.06 volatility points over the 25-delta call.

2027-09-17(312 days)ATM 38.77%±12.19skew +2.94
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
016$13.20$14.80—$20.00—————
011$9.40$10.60—$25.0041.14%$1.05$1.451331
032$7.30$8.50—$28.0040.05%$1.80$2.35330
13108$6.40$7.00—$30.0039.56%$2.50$3.106130
19$4.60$5.60—$33.0038.16%$3.80$4.301445
0216$4.00$4.6039.01%$35.00—$4.80$5.70340
524$2.85$3.5038.17%$38.00—————
851$2.25$2.8537.54%$40.00—$8.00$9.2090
012$1.80$2.3537.41%$42.00—$9.50$10.70580
113$1.25$1.7537.11%$45.00—————
01$1.00$1.4537.20%$47.00—$13.60$15.1030
028$0.70$1.1537.62%$50.00—————

Forward $34.01. The 25-delta put carries +2.94 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.