Options Skew Analytics

NOC option chain

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

Data as of 9 November 2026 (end of day)

2026-11-20(11 days)ATM 32.81%±30.81skew +3.49
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
036$63.20$67.70—$475.00—————
083$58.40$62.70—$480.00—————
032$52.50$58.50—$485.00—————
029$49.30$53.70—$490.00—————
210$44.20$49.80—$495.00—————
070$40.00$46.00—$500.0036.64%$1.45$2.0037819
221$35.00$41.00—$505.00—————
0265$31.20$35.50—$510.00—————
163$26.80$33.00—$515.00—————
3180$22.60$29.00—$520.0034.58%$3.90$5.901700
299$19.20$23.10—$525.00—————
0142$15.90$22.00—$530.0034.55%$6.20$10.00411
143$12.70$19.00—$535.00—————
2144$11.00$14.40—$540.0032.83%$10.80$12.901850
548$8.50$12.2032.79%$545.00—$12.40$17.20400
8211$7.20$9.4032.70%$550.00—$15.30$19.70360
099$5.60$7.6032.74%$555.00—$17.30$24.00410
0372$3.90$5.4031.09%$560.00—$22.80$27.401660
1533$3.00$5.0032.79%$565.00—$24.70$31.7040
—————$570.00—$28.80$34.80110
8136$1.55$2.1530.71%$575.00—$33.20$39.20140

Forward $540.85. The 25-delta put carries +3.49 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 28.37%±50.07skew +2.01
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
016$52.40$57.80—$490.00—————
03$45.80$55.00—$495.00—————
05$44.40$49.50—$500.00—————
115$40.20$45.10—$505.0030.63%$6.50$9.20350
069$36.10$40.80—$510.0031.54%$7.60$12.00470
021$32.80$37.30—$515.00—————
052$29.00$34.20—$520.0031.45%$11.20$15.10723
038$27.00$30.80—$525.0029.32%$12.60$14.801015
667$24.00$28.10—$530.0028.13%$13.50$16.501853
014$21.00$24.90—$535.0030.39%$17.20$20.50365
1133$18.20$21.4028.32%$540.00—$17.80$22.00160
091$16.70$18.6028.53%$545.00—$20.00$25.80241
085$13.60$18.6029.33%$550.00—$22.50$27.602070
248$12.10$14.1027.74%$555.00—$26.30$30.00550
1175$10.60$13.2028.53%$560.00—$28.30$34.40250
318$7.90$12.4028.23%$565.00—$32.00$37.6060
265$7.40$10.5028.54%$570.00—$35.40$41.1070
120$6.40$9.1028.62%$575.00—$40.00$46.10180
0129$5.30$6.7027.41%$580.00—$43.40$50.40440
—————$585.00—$47.40$53.5020
—————$590.00—$51.50$59.2040

Forward $539.90. The 25-delta put carries +2.01 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 28.24%±65.54skew +1.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
022$108.00$116.90—$430.00—————
021$99.00$107.50—$440.00—————
042$90.00$97.80—$450.00—————
012$80.80$89.30—$460.0030.98%$2.90$4.001690
033$73.50$79.00—$470.00—————
017$65.70$70.80—$480.0029.64%$4.80$6.901161
0109$57.50$62.30—$490.0030.13%$7.60$8.90132202
090$49.30$55.20—$500.0029.29%$9.60$10.903813
5260$42.90$48.50—$510.0029.32%$12.80$13.903612
354$36.40$40.50—$520.0030.50%$16.40$19.601370
13281$31.00$33.10—$530.0027.33%$17.50$21.401,5630
332$25.80$28.70—$540.0028.79%$22.10$29.00450
092$19.80$24.0027.89%$550.00—$27.10$33.60870
192$16.80$21.3029.09%$560.00—$33.20$39.40430
075$14.00$15.2027.90%$570.00—$39.60$45.70350
1198$9.90$12.4027.17%$580.00—$47.00$53.00250
258$8.30$9.8027.50%$590.00—$54.60$61.00160
—————$600.00—$62.60$69.40310
3179$4.90$7.1028.32%$610.00—$72.40$77.5040
—————$620.00—$80.20$86.4020
—————$640.00—$99.00$105.00370

Forward $541.71. The 25-delta put carries +1.78 volatility points over the 25-delta call.

2027-02-19(102 days)ATM 31.38%±90.14skew +2.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$495.0032.76%$14.10$18.9090
020$57.70$62.40—$500.0032.39%$16.10$19.50520
08$54.50$60.00—$505.0031.27%$17.30$19.6096
06$51.50$57.20—$510.0031.14%$19.20$21.10333
010$49.30$54.00—$515.0031.73%$20.50$24.90100
08$45.50$51.00—$520.0030.68%$22.30$25.004422
04$43.90$47.70—$525.0030.63%$24.40$27.1076
02$40.50$45.30—$530.0031.43%$26.60$31.2070
016$37.30$42.50—$535.0030.49%$28.60$31.90014
020$35.10$39.00—$540.0031.56%$32.00$35.9050
019$32.50$37.5031.59%$545.00—$33.20$40.00490
011$30.20$34.8031.34%$550.00—$33.80$42.2050
03$28.00$33.9031.84%$555.00—$36.60$45.4040
09$26.30$32.0032.02%$560.00—$39.50$48.0010
08$24.00$28.1030.96%$565.00—$42.70$48.40140
08$22.20$26.8031.19%$570.00—————
078$19.90$24.8030.78%$575.00—$49.10$56.2031
014$17.20$24.0030.64%$580.00—$52.40$57.6050
097$17.10$19.6029.94%$585.00—————
19$15.50$20.1030.76%$590.00—$59.30$65.0060
016$14.20$17.8030.30%$595.00—$63.10$68.9020

Forward $543.38. The 25-delta put carries +2.46 volatility points over the 25-delta call.

2027-09-17(312 days)ATM 29.64%±150.88skew +1.13
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$135.00$145.00—$420.00—————
02$112.00$122.00—$450.00—————
01$105.00$115.00—$460.0030.09%$16.00$26.00130
08$99.00$108.00—$470.00—————
02$92.00$102.00—$480.00—————
05$80.60$89.20—$500.0030.12%$30.00$40.00440
—————$510.0029.86%$34.00$43.4010
02$69.00$78.00—$520.0029.80%$38.00$48.0020
02$64.00$73.00—$530.0029.97%$43.00$53.0010
013$60.10$68.00—$540.0029.47%$47.00$57.0040
03$54.00$63.00—$550.0029.85%$53.00$62.90160
01$50.00$59.0029.95%$560.00—$58.00$68.00440
02$45.00$54.9029.63%$570.00—$64.00$74.00200
09$42.90$50.0029.74%$580.00—————
23$39.40$46.3029.67%$590.00—————
255$37.00$42.8029.83%$600.00—————
01$31.00$40.0029.11%$610.00—————
023$28.10$37.0029.04%$620.00—————
02$22.00$32.0028.77%$640.00—————
07$17.00$27.0028.37%$660.00—————
014$12.20$20.0028.96%$700.00—————

Forward $550.57. The 25-delta put carries +1.13 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.