Options Skew Analytics

MSTR option chain

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

Data as of 9 November 2026 (end of day)

2026-11-13(4 days)ATM 91.72%±12.16skew +7.31
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
12125$11.15$11.25—$117.0097.51%$1.53$1.573,747540
23517$10.40$10.50—$118.0096.85%$1.75$1.796451,016
12021$9.60$9.75—$119.0096.10%$1.99$2.03432619
842388$8.90$9.00—$120.0095.46%$2.26$2.301,5632,882
15339$8.20$8.30—$121.0094.68%$2.55$2.592,086627
24573$7.55$7.60—$122.0094.27%$2.88$2.93570638
54465$6.90$7.00—$123.0093.45%$3.20$3.302,696687
2,744207$6.30$6.35—$124.0093.13%$3.60$3.703861,575
3,115441$5.70$5.80—$125.0092.68%$4.05$4.105,7773,400
2,521331$5.15$5.25—$126.0092.56%$4.50$4.602972,584
1,848217$4.65$4.7591.84%$127.00—$5.00$5.05413962
2,077326$4.20$4.2591.44%$128.00—$5.50$5.601,742793
1,222339$3.75$3.8090.89%$129.00—$6.05$6.15368306
5,7021,106$3.35$3.4090.70%$130.00—$6.65$6.752,433412
7981,874$2.97$3.0590.58%$131.00—$7.25$7.35625194
3,09715,768$2.62$2.6789.85%$132.00—$7.95$8.00322317
2,95043,164$2.31$2.3589.53%$133.00—$8.60$8.70462209
1,0807,595$2.02$2.0689.13%$134.00—$9.30$9.40330191
9,3537,443$1.76$1.8088.79%$135.00—$10.05$10.151,598288
7785,468$1.53$1.5788.55%$136.00—$10.85$10.95450187
1,034444$1.32$1.3688.21%$137.00—$11.65$11.7528357

Forward $126.67. The 25-delta put carries +7.31 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 81.30%±17.89skew +7.21
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
59—$13.10$13.20—$117.0085.47%$3.30$3.40—136
59—$12.35$12.50—$118.0085.06%$3.60$3.70—29
60—$11.70$11.80—$119.0084.72%$3.95$4.00—134
1911,551$11.00$11.15—$120.0084.14%$4.25$4.3510,4911,599
132—$10.35$10.50—$121.0083.62%$4.60$4.70—168
145—$9.75$9.85—$122.0083.47%$5.00$5.10—64
197—$9.15$9.25—$123.0083.05%$5.40$5.50—241
302—$8.55$8.65—$124.0082.39%$5.80$5.90—292
5991,644$8.00$8.10—$125.0082.07%$6.25$6.353,300504
286—$7.45$7.60—$126.0081.50%$6.70$6.80—171
288—$6.95$7.0581.24%$127.00—$7.20$7.30—132
672351$6.50$6.6081.30%$128.00—$7.70$7.80914271
469324$6.00$6.1080.53%$129.00—$8.25$8.351,310117
1,0092,189$5.55$5.7080.37%$130.00—$8.80$8.904,866279
254481$5.15$5.2579.96%$131.00—$9.40$9.501,203113
195500$4.75$4.8579.60%$132.00—$10.00$10.10439152
111290$4.40$4.5079.57%$133.00—$10.60$10.701,47984
115736$4.05$4.1579.30%$134.00—$11.25$11.40501158
99543,054$3.70$3.8078.79%$135.00—$11.95$12.054,306161
366698$3.40$3.5078.65%$136.00—$12.60$12.7526783
734574$3.10$3.2078.26%$137.00—$13.35$13.4544350

Forward $126.75. The 25-delta put carries +7.21 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 74.74%±21.04skew +5.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$13.85$15.30—$117.0078.85%$4.35$4.60—8
17—$13.40$13.95—$118.0077.96%$4.60$4.90—53
30—$12.75$13.30—$119.0077.66%$4.95$5.25—5
9748$12.10$12.65—$120.0077.45%$5.35$5.602,5391,815
0—$11.50$11.90—$121.0076.82%$5.65$6.00—15
1—$10.90$11.35—$122.0076.74%$6.10$6.40—1
1—$10.30$10.70—$123.0076.72%$6.50$6.90—20
32—$9.75$10.05—$124.0076.06%$6.90$7.30—4
421385$9.25$9.55—$125.0075.93%$7.40$7.751,730161
26—$8.65$9.05—$126.0075.63%$7.85$8.25—64
20—$8.15$8.5575.39%$127.00—$8.35$8.75—6
2—$7.65$8.0574.97%$128.00—$8.85$9.25—27
8—$7.20$7.5574.61%$129.00—$9.35$9.80—6
485882$6.80$7.1074.53%$130.00—$9.80$10.351,08470
32—$6.30$6.6573.84%$131.00—$10.50$10.90—0
76—$5.90$6.3073.88%$132.00—$11.10$11.50—23
12—$5.55$5.9073.77%$133.00—$11.70$12.15—9
26—$5.15$5.5573.49%$134.00—$12.30$12.75—1
326553$4.85$5.2073.52%$135.00—$13.00$13.352,62141
69—$4.50$4.8573.17%$136.00—$13.60$14.10—0
25—$4.20$4.5573.12%$137.00—$14.30$14.75—2

Forward $126.80. The 25-delta put carries +5.73 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 73.86%±24.53skew +6.94
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$50.10$54.65—$75.00117.12%$0.41$0.63199
—————$80.00108.84%$0.59$0.67881629
—————$85.00100.61%$0.72$0.791,2551,417
07$35.75$40.20—$90.0095.47%$1.01$1.041,657697
20$31.15$35.45—$95.0089.61%$1.24$1.431,304338
03$27.10$30.75—$100.0086.16%$1.77$2.001,957256
111$23.70$26.00—$105.0082.97%$2.52$2.7442295
014$20.10$21.95—$110.0080.34%$3.50$3.80333108
913$16.40$17.95—$115.0078.13%$4.85$5.15355312
218$13.35$13.90—$120.0076.47%$6.60$6.90213108
70143$10.55$11.05—$125.0075.01%$8.75$9.05421225
129155$8.15$8.6073.70%$130.00—$11.25$11.65995223
594239$6.20$6.5572.68%$135.00—$14.25$14.651,720560
2062,939$4.60$5.0072.15%$140.00—$17.60$18.351,6046
143592$3.40$3.6071.20%$145.00—$21.05$22.001,022131
286563$2.48$2.7071.29%$150.00—$24.80$26.15392165
77181$1.79$2.0071.39%$155.00—$29.30$30.451,142163
363653$1.30$1.4671.59%$160.00—$32.85$35.051,254146
292339$0.95$1.0671.93%$165.00—$38.75$39.751,149208
65360$0.70$0.8373.05%$170.00—$43.45$44.30223107
297754$0.50$0.6473.77%$175.00—$46.95$49.4021789

Forward $126.91. The 25-delta put carries +6.94 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 73.54%±27.65skew +7.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$75.00108.34%$0.54$0.7662
—————$80.00101.94%$0.81$0.8323482
—————$85.0096.30%$0.99$1.1244506
—————$90.0092.26%$1.30$1.5697545
—————$95.0087.83%$1.72$2.047134
0121$26.95$31.70—$100.0084.58%$2.37$2.711,11673
10$22.95$27.75—$105.0082.34%$3.25$3.705314
01$21.00$23.60—$110.0079.47%$4.30$4.856812
13$17.05$18.45—$115.0077.56%$5.75$6.353645
624$14.50$15.40—$120.0076.13%$7.60$8.203321
5124$11.75$12.45—$125.0074.80%$9.85$10.35237169
3876$9.40$9.9573.55%$130.00—$12.40$13.00705136
12563$7.40$7.9572.86%$135.00—$15.20$15.95856132
61187$5.75$6.3072.37%$140.00—$18.65$19.407225
47177$4.35$4.9071.57%$145.00—$22.00$23.10224121
13050$3.40$3.8071.70%$150.00—$25.20$27.30185150
108124$2.56$3.0572.05%$155.00—$29.90$31.35554166
6198$1.90$2.2471.24%$160.00—$34.30$35.70561148
5685$1.41$1.7471.39%$165.00—$39.15$40.15495134
158233$1.13$1.3772.39%$170.00—$43.50$44.85154102
29114$0.87$1.0973.10%$175.00—$48.30$49.7015570

Forward $127.01. The 25-delta put carries +7.77 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 73.76%±30.66skew +8.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
096$51.00$55.00—$75.00102.96%$0.75$0.872,87328
0113$46.25$50.25—$80.0096.68%$0.95$1.048,689292
25211$41.60$45.55—$85.0092.50%$1.27$1.372,20780
0157$37.90$40.95—$90.0088.87%$1.71$1.818,602239
0213$33.60$36.45—$95.0085.98%$2.31$2.431,262201
512,814$29.50$31.10—$100.0083.27%$3.10$3.207,782450
42394$25.50$27.40—$105.0080.67%$4.05$4.203,098184
591,390$21.95$23.30—$110.0079.31%$5.35$5.604,179459
39425$18.90$19.45—$115.0077.60%$6.90$7.206,835344
1031,071$15.90$16.25—$120.0076.15%$8.80$9.105,538298
225838$13.15$13.50—$125.0074.83%$11.05$11.304,305926
3341,191$10.80$11.1073.93%$130.00—$13.60$13.903,648482
3581,509$8.80$8.9572.99%$135.00—$16.45$16.853,083426
5143,355$6.95$7.2572.08%$140.00—$19.65$20.103,202266
3802,309$5.55$5.8071.68%$145.00—$23.20$23.651,897136
1,7176,275$4.40$4.6071.34%$150.00—$26.75$27.653,989145
3672,456$3.45$3.6571.13%$155.00—$30.65$31.853,180129
94614,478$2.76$2.8871.29%$160.00—$34.80$36.1013,492144
5322,925$2.15$2.2771.23%$165.00—$39.65$40.604,197184
5082,371$1.71$1.8171.61%$170.00—$44.25$45.002,321120
2251,789$1.37$1.4472.04%$175.00—$48.80$49.801,57197

Forward $127.16. The 25-delta put carries +8.18 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 71.80%±32.11skew +6.05
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$85.0092.02%$1.35$1.9921
—————$90.0086.64%$1.79$2.27118
—————$95.0082.76%$2.40$2.7729
80$30.00$33.10—$100.0081.83%$3.25$3.901223
05$24.35$29.25—$105.0079.11%$4.20$4.951713
05$20.65$25.30—$110.0077.46%$5.55$6.30104
—————$115.0076.26%$7.20$8.00417
—————$120.0075.02%$9.10$10.002518
101$13.55$14.80—$125.0073.85%$11.40$12.201710
4617$11.00$12.1071.60%$130.00—$14.00$14.803935
2322$9.15$10.4072.51%$135.00—$15.85$17.90315
20129$6.85$8.7070.56%$140.00—$19.15$21.15110
46$5.50$7.1070.13%$145.00—$22.05$24.75220
60130$4.75$5.4569.98%$150.00—$26.75$28.5033
3020$3.80$4.8571.40%$155.00—————
5015$3.05$3.8070.83%$160.00—$33.80$37.7521
2615$2.28$3.2570.93%$165.00—$38.40$42.1003
414$1.83$2.5670.75%$170.00—$42.95$46.6040
155$1.55$1.9070.48%$175.00—$47.30$52.2501
239$1.22$1.7071.62%$180.00—$52.20$56.95100
252$0.92$1.3271.03%$185.00—$56.80$60.55013

Forward $127.39. The 25-delta put carries +6.05 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 71.79%±39.25skew +5.61
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
5345$47.80$51.40—$80.0086.83%$1.73$1.966,61941
7263$43.90$47.05—$85.0083.90%$2.24$2.51884385
0271$39.55$42.70—$90.0082.05%$3.00$3.253,531170
0424$35.20$38.50—$95.0080.37%$3.95$4.153,58936
404,130$32.00$34.55—$100.0078.52%$5.00$5.2512,230469
5597$28.40$30.30—$105.0076.76%$6.20$6.601,528204
161,099$25.10$26.80—$110.0075.71%$7.80$8.203,860399
9608$21.90$23.65—$115.0074.48%$9.55$10.052,55389
1385,495$19.50$19.80—$120.0073.94%$11.80$12.157,149175
7051,475$16.55$17.15—$125.0073.16%$14.15$14.552,199214
3141,931$14.25$14.8072.07%$130.00—$16.60$17.204,10896
1101,089$12.25$12.7571.69%$135.00—$19.60$20.151,708214
3802,934$10.40$10.8570.95%$140.00—$22.55$23.302,65819
1111,269$9.00$9.2570.97%$145.00—$25.85$26.702,101129
6946,267$7.40$7.9070.18%$150.00—$29.50$30.456,129149
823,660$6.35$6.7070.23%$155.00—$33.10$34.402,177126
2823,344$5.35$5.7570.27%$160.00—$37.45$38.302,134145
1431,979$4.50$4.8570.09%$165.00—$41.20$42.451,868141
2805,362$3.80$4.2070.40%$170.00—$45.85$46.903,632116
1975,522$3.20$3.5570.37%$175.00—$50.15$51.801,008113
813,598$2.80$3.0570.96%$180.00—$53.95$55.852,193105

Forward $127.61. The 25-delta put carries +5.61 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.