Options Skew Analytics

MMC option chain

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

Data as of 29 September 2025 (end of day)

2025-12-19(81 days)ATM 20.41%±19.46skew +7.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$63.80$67.60—$135.00—————
01$58.90$62.70—$140.00—————
04$49.20$52.90—$150.00—————
05$35.00$38.20—$165.0031.02%$0.75$1.20570
—————$170.0031.74%$1.25$2.05251
01$26.10$28.30—$175.0029.13%$1.70$2.10331
01$21.40$23.90—$180.00—————
—————$185.0026.47%$3.10$3.50881
01$13.60$15.80—$190.0025.39%$4.30$4.502461
03$10.80$13.80—$195.00—————
068$8.40$10.20—$200.0021.55%$5.70$8.2020015
55580$3.80$4.3018.78%$210.00—$13.00$13.606880
1223$1.45$1.7518.33%$220.00—$19.40$23.20410
190$0.40$0.6518.04%$230.00—$29.40$32.80870

Forward $202.37. The 25-delta put carries +7.06 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.