Options Skew Analytics

NSC 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 22.77%±24.35skew +2.92
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$75.30$79.30—$250.00—————
011$65.80$69.10—$260.00—————
02$56.00$59.30—$270.00—————
03$46.80$49.50—$280.00—————
020$37.30$40.10—$290.00—————
021$28.30$31.10—$300.0027.23%$1.90$2.951300
030$20.60$22.00—$310.0024.98%$3.40$4.501393
040$13.20$14.70—$320.0023.00%$6.10$6.90422
0156$7.60$9.1022.71%$330.00—$10.30$12.001070
6204$4.00$5.0022.06%$340.00—$16.40$18.10470
5375$1.85$2.4521.57%$350.00—————
2241$0.80$1.2521.86%$360.00—$32.80$35.9030

Forward $327.19. The 25-delta put carries +2.92 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 22.98%±32.35skew +2.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$195.00$199.10—$130.00—————
02$190.00$194.20—$135.00—————
02$180.10$184.30—$145.00—————
01$160.50$164.40—$165.00—————
01$155.30$159.50—$170.00—————
03$130.70$134.70—$195.00—————
010$125.80$129.70—$200.00—————
013$115.70$119.80—$210.00—————
02$86.30$90.20—$240.00—————
013$77.30$80.00—$250.00—————
011$66.90$70.80—$260.00—————
017$57.50$61.30—$270.00—————
090$48.80$51.60—$280.00—————
0163$39.80$42.40—$290.0027.16%$2.05$3.101671
0115$31.20$34.10—$300.0025.88%$3.30$4.70951
048$23.20$26.30—$310.0024.98%$5.50$7.002081
093$16.20$19.50—$320.0023.78%$8.30$10.20641
1225$11.10$13.2022.99%$330.00—$12.50$14.60420
2178$6.80$8.9022.44%$340.00—$17.90$20.50180
3116$4.50$5.8022.83%$350.00—$25.10$27.8030
278$2.20$3.3021.74%$360.00—$33.40$36.7030

Forward $328.59. The 25-delta put carries +2.15 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 23.62%±46.51skew +3.16
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$98.00$100.80—$230.00—————
02$69.70$72.60—$260.0029.00%$1.60$2.25110
06$60.10$64.00—$270.0028.20%$2.25$3.401010
05$52.00$55.30—$280.0027.86%$3.30$5.204600
010$43.30$47.00—$290.0026.82%$4.70$6.9070
06$35.70$39.20—$300.0025.85%$6.60$9.10490
0102$28.00$32.30—$310.0025.15%$9.20$12.10950
028$22.10$25.40—$320.0024.32%$12.60$15.50930
111$16.80$19.9023.79%$330.00—$17.00$19.90130
157$12.10$15.4023.31%$340.00—$22.00$25.3090
042$8.60$11.7023.07%$350.00—$28.40$31.50130
089$5.90$8.7022.85%$360.00—$35.40$39.5010
024$3.90$6.4022.70%$370.00—————

Forward $329.90. The 25-delta put carries +3.16 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 24.18%±62.42skew +3.23
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$176.70$180.30—$150.00—————
01$162.20$165.70—$165.00—————
01$132.50$136.60—$195.00—————
01$81.40$85.50—$250.00—————
03$73.50$76.40—$260.00—————
216$65.10$68.10—$270.0027.62%$4.30$6.7060
014$56.90$60.10—$280.0027.05%$5.90$8.60250
025$50.00$53.00—$290.0026.34%$7.70$10.901,0880
018$42.70$45.70—$300.0025.77%$10.20$13.60730
028$35.80$39.30—$310.0025.21%$13.20$16.80690
031$29.70$32.70—$320.0025.07%$17.60$20.50380
332$24.00$27.20—$330.0024.42%$21.60$24.80690
919$19.60$22.3024.12%$340.00—$26.60$29.9050
062$14.60$18.1023.27%$350.00—$32.40$35.6030
04$10.90$14.7022.87%$360.00—$38.70$42.50120
072$8.30$11.7022.67%$370.00—————
072$6.20$9.3022.54%$380.00—————
03$4.50$7.4022.44%$390.00—————
560$3.90$4.6021.92%$400.00—————

Forward $332.46. The 25-delta put carries +3.23 volatility points over the 25-delta call.

2027-09-17(312 days)ATM 24.84%±76.93skew +3.75
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
030$76.80$81.50—$260.00—————
—————$280.0026.73%$8.20$11.7010
—————$290.0026.54%$11.00$14.30130
—————$300.0026.25%$14.00$17.4020
06$41.50$46.50—$310.0025.96%$17.50$20.90110
012$35.60$40.50—$320.0025.47%$21.00$24.90230
029$30.50$35.00—$330.0025.23%$25.50$29.40630
016$25.50$29.6025.01%$340.00—$30.50$34.40150
02$21.00$25.2024.54%$350.00—$36.00$40.5050
05$14.00$17.8023.85%$370.00—————
05$11.50$14.8023.69%$380.00—————
010$8.50$12.4023.18%$390.00—————
01$6.50$10.0022.79%$400.00—————

Forward $334.92. The 25-delta put carries +3.75 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.