Options Skew Analytics

MRNA option chain

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

Data as of 23 September 2026 (end of day)

2026-09-25(2 days)ATM 84.56%±11.44skew -2.79
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
189,164$23.65$26.75—$157.50—————
663,010$22.35$23.45—$160.0093.81%$0.11$0.148,95211,972
8287$19.90$21.00—$162.50—————
609,216$17.25$19.10—$165.0088.32%$0.22$0.356192,539
202,276$14.70$17.20—$167.5088.04%$0.40$0.55692413
3721,779$12.70$14.30—$170.0085.81%$0.65$0.762,2973,836
78410$10.40$12.20—$172.5087.66%$1.00$1.34358581
4621,224$8.90$9.85—$175.0084.97%$1.45$1.801,0731,011
66343$7.10$8.25—$177.5085.92%$2.20$2.60308593
1,0503,230$5.55$6.50—$180.0084.75%$3.05$3.501,0542,556
5721,059$4.20$5.20—$182.5084.36%$4.05$4.752451,223
3,5941,359$3.40$3.8585.51%$185.00—$5.40$6.30197867
2,7633,061$2.46$2.6582.73%$187.50—$7.10$8.40414312
9,27611,055$1.78$2.0084.07%$190.00—$8.95$9.85486661
2,4352,619$1.22$1.7387.77%$192.50—$10.20$12.55324343
2,1512,440$0.90$1.1787.85%$195.00—$12.60$14.659628
1,348612$0.64$0.9390.58%$197.50—$14.20$17.25301303
15,0998,199$0.48$0.5990.62%$200.00—$16.90$19.555209
157—$0.31$0.4892.74%$202.50—$18.85$22.35—18
—————$205.00—$21.10$24.10233
—————$207.50—$23.55$26.95—14

Forward $182.80. The 25-delta put carries -2.79 volatility points over the 25-delta call.

2026-10-02(9 days)ATM 78.52%±22.56skew -10.83
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10100$24.65$27.90—$157.5078.00%$1.01$1.2019632
6245$23.10$25.75—$160.0075.92%$1.20$1.45922822
287$20.90$23.70—$162.5075.61%$1.45$1.958723
7581$19.05$21.20—$165.0074.99%$1.91$2.3538291
318317$16.90$19.70—$167.5075.64%$2.50$2.9917673
362,879$15.30$17.35—$170.0074.69%$3.15$3.50407752
1557$13.95$15.50—$172.5078.86%$4.05$4.956129
42391$11.85$13.70—$175.0075.26%$4.60$5.45178213
70123$10.90$12.15—$177.5078.30%$5.90$6.807629
1491,346$9.65$10.85—$180.0077.90%$6.95$7.90174227
191198$8.75$9.65—$182.5078.28%$8.35$9.0536160
1,033336$7.80$8.3578.54%$185.00—$9.70$11.0054665
22781$6.25$7.4076.75%$187.50—$10.85$12.35554
7911,226$5.70$6.5078.67%$190.00—$12.45$14.054308
155129$5.00$6.0581.16%$192.50—$14.15$15.801611
494250$4.35$5.3081.74%$195.00—$15.60$17.756624
3925$3.65$4.2079.50%$197.50—$18.05$19.5013
1,002973$3.15$4.0082.02%$200.00—$19.25$22.105101
2—$2.57$4.1585.52%$202.50—$21.10$24.05—0
55110$2.17$3.0082.01%$205.00—————
8—$2.11$3.2088.03%$207.50—$25.50$28.30—0

Forward $183.00. The 25-delta put carries -10.83 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 76.59%±29.34skew -7.52
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
375$32.95$36.10—$150.00—————
111$31.20$33.90—$152.50—————
0243$28.85$31.65—$155.0078.61%$1.95$2.58194167
251$26.70$29.80—$157.5075.33%$2.03$2.854108
6493$24.85$27.30—$160.0076.05%$2.75$3.3014833
134$22.85$25.80—$162.5073.56%$2.75$3.953535
9433$21.00$23.70—$165.0075.30%$3.85$4.5511248
030$19.15$22.10—$167.5073.73%$4.15$5.352211
646$17.45$19.70—$170.0073.02%$4.65$6.303017
018$16.20$18.25—$172.5076.30%$5.90$7.75405
699$14.80$16.80—$175.0076.42%$7.20$8.5011073
824$13.30$15.10—$177.5075.77%$7.95$9.7561
3621,892$12.70$13.85—$180.0077.07%$9.50$10.955949
5242$11.40$12.75—$182.5077.76%$10.95$12.2549
97102$10.40$11.1076.56%$185.00—$12.50$13.65724
183169$8.50$9.6578.96%$190.00—$15.50$16.851862
1646$6.70$8.0579.24%$195.00—$18.45$20.3028
202153$5.55$6.1578.81%$200.00—$22.25$23.9008
591$4.50$5.0579.90%$205.00—————
34170$3.65$4.2081.25%$210.00—$29.45$32.3012
421$2.98$3.5582.92%$215.00—$33.80$36.5002

Forward $182.98. The 25-delta put carries -7.52 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 77.64%±35.64skew -5.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$148.0074.46%$1.58$2.3642
01$35.20$37.70—$149.0075.36%$1.84$2.571822
911,700$34.05$36.50—$150.0074.30%$2.04$2.502,204275
—————$152.5073.83%$2.28$3.052920
52,733$30.00$32.55—$155.0074.25%$2.97$3.4586459
117$28.15$30.90—$157.5074.25%$3.45$4.106033
532,119$26.55$28.75—$160.0075.16%$4.35$4.701,656936
211$24.55$27.15—$162.5074.57%$4.85$5.455510
372,907$22.85$25.35—$165.0074.59%$5.75$6.10320137
1327$21.45$23.75—$167.5074.78%$6.45$7.15909
681,367$19.90$21.95—$170.0074.96%$7.40$8.10570797
1975$18.10$20.80—$172.5075.28%$8.45$9.155023
1201,511$17.75$18.55—$175.0075.87%$9.45$10.50293448
1774$16.45$17.75—$177.5076.02%$10.70$11.602691
5473,654$15.20$16.10—$180.0076.86%$12.05$13.00287203
280865$12.90$13.4077.33%$185.00—$14.80$15.7565174
1,0021,908$10.75$12.0078.84%$190.00—$17.05$19.2511153
101257$9.00$10.6080.08%$195.00—$20.25$22.8566
3,7627,576$7.80$8.8080.48%$200.00—$23.80$26.556720
54300$6.45$7.0579.32%$205.00—$27.80$30.20211
147398$5.45$6.0080.17%$210.00—$31.50$34.101131

Forward $182.87. The 25-delta put carries -5.58 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 78.89%±41.45skew -6.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
5367$35.50$38.40—$150.0077.61%$3.15$4.2034316
132$33.45$36.45—$152.5076.39%$3.60$4.55434
1156$31.50$34.55—$155.0075.09%$3.90$5.102010
112$29.65$32.65—$157.5075.55%$4.60$5.8547
680$28.10$30.90—$160.0076.51%$5.70$6.509086
03$26.40$29.20—$162.5075.37%$6.05$7.35479
159$25.05$27.55—$165.0075.96%$7.30$8.004939
087$23.20$25.45—$167.5076.97%$8.25$9.25327
13103$21.85$24.35—$170.0077.97%$9.20$10.6525105
10447$20.50$23.25—$172.5077.81%$10.35$11.55079
14446$19.10$21.15—$175.0076.70%$11.40$12.3017726
1621$17.85$20.65—$177.5078.04%$12.05$14.551133
10158$16.80$19.60—$180.0078.55%$13.80$15.502541
4718$15.80$17.50—$182.5078.15%$14.90$16.8536
14822$14.50$17.0079.22%$185.00—$16.55$18.2535
272192$12.75$14.4078.72%$190.00—$19.30$21.20153
4285$11.05$12.6579.31%$195.00—$22.55$24.45112
52405$9.55$11.3080.38%$200.00—$25.90$27.90218
978$8.20$9.6580.15%$205.00—$29.45$32.0546
1437$7.10$8.5080.97%$210.00—$33.20$35.3542
563$6.00$7.6081.67%$215.00—————

Forward $183.28. The 25-delta put carries -6.30 volatility points over the 25-delta call.

2026-10-30(37 days)ATM 98.70%±57.62
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$41.55$45.00—$147.0095.25%$5.45$7.9531
010$41.00$44.20—$148.0096.28%$6.30$8.00132
03$40.35$43.50—$149.0096.00%$6.25$8.55210
2661$39.70$42.80—$150.0096.14%$7.05$8.4035934
07$37.80$41.10—$152.5094.04%$7.00$9.3030
57345$36.35$39.45—$155.0099.42%$8.50$11.403562
415$34.65$37.85—$157.5094.87%$8.80$11.2041
2369$33.35$36.25—$160.0096.16%$10.55$11.8019111
111$31.70$34.30—$162.5095.36%$10.80$13.202155
7170$30.35$33.15—$165.0096.45%$12.55$13.953542
326$29.00$31.75—$167.5097.37%$13.60$15.45811
1371$27.80$30.40—$170.0096.99%$14.25$16.902720
2888$25.15$27.40—$175.0097.54%$16.80$19.406123
54285$22.90$25.40—$180.0097.58%$20.00$21.4027129
491,619$20.85$23.1598.27%$185.00—$22.45$24.801068
3332,183$18.95$21.0598.45%$190.00—$25.35$27.601513
3839$17.30$19.2099.01%$195.00—$28.60$31.05482
74886$16.00$17.4099.79%$200.00—$31.75$34.40314
223$14.00$16.2599.84%$205.00—$35.45$37.55120
61$12.75$14.95100.64%$210.00—$39.00$41.45056
04$11.25$14.05101.25%$215.00—$42.65$45.10140

Forward $183.37. Not enough surviving quotes on both wings to measure the skew here.

2026-11-20(58 days)ATM 95.49%±69.96skew -4.26
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1568$65.75$68.55—$120.0093.76%$3.15$3.753,73730
021$61.60$64.30—$125.0092.00%$3.75$4.5048110
6320$57.65$60.35—$130.0092.59%$5.00$5.502,382263
1186$53.85$56.65—$135.0093.18%$6.25$6.851,11333
21286$50.15$52.95—$140.0093.33%$7.70$8.201,84024
62,789$46.80$49.65—$145.0092.91%$9.10$9.70417138
181,066$43.55$46.35—$150.0092.93%$10.85$11.353,2611,144
45577$40.60$43.15—$155.0093.51%$12.80$13.40252117
2,7544,986$37.45$39.25—$160.0093.87%$14.85$15.602,180171
81,935$34.95$37.30—$165.0093.09%$16.75$17.702,28119
191,299$32.50$34.95—$170.0093.44%$19.15$20.202739
452,827$30.80$31.60—$175.0094.20%$22.00$22.80124420
1022,083$28.05$30.00—$180.0094.03%$24.60$25.4522940
183640$26.05$27.2594.06%$185.00—$27.35$28.3560322
105444$24.00$25.9095.14%$190.00—$30.15$31.80323
41242$22.70$23.7595.66%$195.00—$33.75$34.5042
3707,982$21.00$21.7595.32%$200.00—$36.50$38.2512
59184$17.65$18.7595.22%$210.00—$43.25$44.8010
2,0052,820$15.15$16.2095.91%$220.00—$50.50$52.2072
107203$13.15$13.9596.72%$230.00—$58.30$60.95111
50125$11.55$12.0597.77%$240.00—$66.25$68.2004

Forward $183.79. The 25-delta put carries -4.26 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.