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ONON options analytics

ONON · Stock

Data as of 24 September 2026 (end of day)

ONON options are pricing a 30-day at-the-money volatility of 38.2%, a move of about ±11.0% over the next month. Its history here is 5 sessions, short of the 180 a percentile needs, so this reading is not yet ranked against its own past.

Its 25-delta puts carry 0.88 volatility points more than the calls.

Longer-dated options carry more: 90-day volatility is 17% above 30-day.

Its next earnings report is 2026-11-11 (estimated from its reporting cadence).

Current readings

30-day ATM implied volatilityⓘ
38.21%

Prices a move of about ±11.0% over 30 days, or ±2.4% on a typical day.

25-delta risk reversalⓘ
+0.88

Puts carry 0.88 volatility points more than calls the same distance from the money.

25-delta butterflyⓘ
+0.79

The wings carry 0.79 volatility points more than at-the-money.

Term structure slopeⓘ
1.166

90-day volatility is 17% above 30-day.

Where 30-day implied volatility sits

Against 5 prior sessions (one-year window)

Not enough history in this window to place the current reading.

IV percentile, 1 year
—
IV rank, 1 year
—
IV percentile, 2 years
—
IV rank, 2 years
—

Rank is the position between the lowest and highest readings in the window, so a single past extreme pins everything after it near one end. Percentile is the share of sessions below the current reading and is unaffected by how far that extreme reached. Both are withheld when the window holds fewer than 180 sessions.

Session detail

Underlying close
$30.46
30-day implied forward
$30.47
60-day ATM IV
47.34%
90-day ATM IV
44.56%
180-day ATM IV
45.07%
Expirations used
11
Total open interest
340,786
Put / call open interest
0.85

The forward is derived from put-call parity on the strikes nearest the money, not taken from the underlying close. It is what every moneyness and delta on this page is measured against.

30-day at-the-money implied volatility

Last 5 sessions

36%38%40%42%44%46%2026-09-18 — 30-day ATM IV 44%2026-09-21 — 30-day ATM IV 44%2026-09-22 — 30-day ATM IV 41%2026-09-23 — 30-day ATM IV 39%2026-09-24 — 30-day ATM IV 38%18 Sep21 Sep22 Sep23 Sep24 Sep
Show the underlying numbers (most recent 5)
Session30-day ATM IV25-delta RRTerm slopeClose
2026-09-2438.21%+0.881.166$30.46
2026-09-2338.75%-0.191.167$30.16
2026-09-2241.27%+0.681.171$29.39
2026-09-2144.12%+1.051.113$27.32
2026-09-1844.17%-1.111.117$27.26

The chart covers every session in the archive, 5 in total. The table lists the most recent 5.

25-delta risk reversal

Last 5 sessions

-2.0-1.00.01.02.02026-09-18 — 25-delta RR (volatility points) -1.12026-09-21 — 25-delta RR (volatility points) 1.02026-09-22 — 25-delta RR (volatility points) 0.72026-09-23 — 25-delta RR (volatility points) -0.22026-09-24 — 25-delta RR (volatility points) 0.918 Sep21 Sep22 Sep23 Sep24 Sep

The dashed line marks zero, where the 25-delta put and call carry the same implied volatility.

Skew curve

Implied volatility by delta, front expirations

Implied volatility by delta

8d (2026-10-02) · 15d (2026-10-09) · 22d (2026-10-16)

35%40%45%50%2026-10-02 (8d) — 10Δ C — IV 44.40%2026-10-02 (8d) — 15Δ C — IV 42.75%2026-10-02 (8d) — 20Δ C — IV 41.93%2026-10-02 (8d) — 25Δ C — IV 41.14%2026-10-02 (8d) — 30Δ C — IV 40.93%2026-10-02 (8d) — 35Δ C — IV 41.35%2026-10-02 (8d) — 40Δ C — IV 41.42%2026-10-02 (8d) — 45Δ C — IV 40.78%2026-10-02 (8d) — ATM — IV 40.32%2026-10-02 (8d) — 45Δ P — IV 40.06%2026-10-02 (8d) — 40Δ P — IV 39.97%2026-10-02 (8d) — 35Δ P — IV 40.82%2026-10-02 (8d) — 30Δ P — IV 41.71%2026-10-02 (8d) — 25Δ P — IV 41.91%2026-10-02 (8d) — 20Δ P — IV 42.45%2026-10-02 (8d) — 15Δ P — IV 44.73%2026-10-02 (8d) — 10Δ P — IV 48.02%8d2026-10-09 (15d) — 20Δ C — IV 40.08%2026-10-09 (15d) — 25Δ C — IV 38.90%2026-10-09 (15d) — 30Δ C — IV 38.12%2026-10-09 (15d) — 35Δ C — IV 37.80%2026-10-09 (15d) — 40Δ C — IV 38.29%2026-10-09 (15d) — 45Δ C — IV 38.91%2026-10-09 (15d) — ATM — IV 39.50%2026-10-09 (15d) — 45Δ P — IV 39.56%2026-10-09 (15d) — 40Δ P — IV 39.62%2026-10-09 (15d) — 35Δ P — IV 39.83%2026-10-09 (15d) — 30Δ P — IV 39.79%2026-10-09 (15d) — 25Δ P — IV 39.74%2026-10-09 (15d) — 20Δ P — IV 40.61%15d2026-10-16 (22d) — 10Δ C — IV 41.13%2026-10-16 (22d) — 15Δ C — IV 41.99%2026-10-16 (22d) — 20Δ C — IV 39.99%2026-10-16 (22d) — 25Δ C — IV 39.39%2026-10-16 (22d) — 30Δ C — IV 39.08%2026-10-16 (22d) — 35Δ C — IV 38.82%2026-10-16 (22d) — 40Δ C — IV 38.71%2026-10-16 (22d) — 45Δ C — IV 38.69%2026-10-16 (22d) — ATM — IV 38.71%2026-10-16 (22d) — 45Δ P — IV 38.79%2026-10-16 (22d) — 40Δ P — IV 39.02%2026-10-16 (22d) — 35Δ P — IV 39.30%2026-10-16 (22d) — 30Δ P — IV 39.23%2026-10-16 (22d) — 25Δ P — IV 39.54%2026-10-16 (22d) — 20Δ P — IV 39.94%2026-10-16 (22d) — 15Δ P — IV 40.98%22d10Δ C25Δ CATM25Δ P10Δ Pout-of-the-money calls ← delta → out-of-the-money puts

The axis is call delta. Readings to the right of the dashed centre line are taken from the out-of-the-money put at that strike, which is the contract whose quote the volatility was solved from. Points are only plotted where surviving quotes bracket the delta on both sides; nothing is extrapolated past the last traded strike.

Show the underlying numbers
Delta8d15d22d
10Δ call44.40%—41.13%
15Δ call42.75%—41.99%
20Δ call41.93%40.08%39.99%
25Δ call41.14%38.90%39.39%
30Δ call40.93%38.12%39.08%
35Δ call41.35%37.80%38.82%
40Δ call41.42%38.29%38.71%
45Δ call40.78%38.91%38.69%
ATM40.32%39.50%38.71%
45Δ put40.06%39.56%38.79%
40Δ put39.97%39.62%39.02%
35Δ put40.82%39.83%39.30%
30Δ put41.71%39.79%39.23%
25Δ put41.91%39.74%39.54%
20Δ put42.45%40.61%39.94%
15Δ put44.73%—40.98%
10Δ put48.02%——

Wing readings by expiration

ExpirationDaysForwardATM IV25Δ put25Δ callRRButterflyQuotes
2026-10-028$30.3740.32%41.91%41.14%+0.77+1.2012
2026-10-0915$30.4439.50%39.74%38.90%+0.84-0.1911
2026-10-1622$30.4438.71%39.54%39.39%+0.14+0.7614
2026-10-2329$30.4837.89%39.07%38.33%+0.73+0.818
2026-10-3036$30.3739.70%41.20%39.63%+1.57+0.7111
2026-11-2057$30.5747.75%48.37%47.51%+0.86+0.197
2026-12-1885$30.7044.97%45.73%44.76%+0.97+0.2813
2027-01-15113$30.8143.12%44.28%42.97%+1.31+0.5011
2027-03-19176$31.0744.94%47.02%44.95%+2.07+1.0511
2027-04-16204$30.8745.74%47.70%46.56%+1.14+1.4010
2027-06-17266$31.1646.95%49.06%46.14%+2.92+0.6512

Each curve above is one expiration. The vertical position is implied volatility; the horizontal position is the delta of the contract it was read from. For US equities the curve normally slopes upward to the right, meaning out-of-the-money puts carry higher implied volatility than equidistant calls.

The 25-delta risk reversal summarises that slope as a single number: the 25-delta put volatility minus the 25-delta call volatility. The butterfly summarises the curvature: the average of the two wings minus the at-the-money reading.

Term structure

At-the-money implied volatility by expiration

At-the-money implied volatility by expiration

11 listed expirations produced a usable reading

35%40%45%50%2026-10-02 — 8 days — at-the-money IV 40.32%2026-10-09 — 15 days — at-the-money IV 39.50%2026-10-16 — 22 days — at-the-money IV 38.71%2026-10-23 — 29 days — at-the-money IV 37.89%2026-10-30 — 36 days — at-the-money IV 39.70%2026-11-20 — 57 days — at-the-money IV 47.75%2026-12-18 — 85 days — at-the-money IV 44.97%2027-01-15 — 113 days — at-the-money IV 43.12%2027-03-19 — 176 days — at-the-money IV 44.94%2027-04-16 — 204 days — at-the-money IV 45.74%2027-06-17 — 266 days — at-the-money IV 46.95%306090180days to expiration

The horizontal axis is the square root of days to expiration, which is the scale volatility lives on. A curve that is flat in variance terms plots as a straight line here rather than bending sharply through the front week.

Show the underlying numbers
ExpirationDaysForwardATM IVATM strikeQuotes used
2026-10-028 days$30.3740.32%$30.4312
2026-10-0915 days$30.4439.50%$30.5411
2026-10-1622 days$30.4438.71%$30.5814
2026-10-2329 days$30.4837.89%$30.668
2026-10-3036 days$30.3739.70%$30.6111
2026-11-2057 days$30.5747.75%$31.127
2026-12-1885 days$30.7044.97%$31.4313
2027-01-15113 days$30.8143.12%$31.7111
2027-03-19176 days$31.0744.94%$32.6211
2027-04-16204 days$30.8745.74%$32.7310
2027-06-17266 days$31.1646.95%$33.7712

Constant maturities

Interpolated between the bracketing listed expirations, in total variance

30 days
38.21%
60 days
47.34%
90 days
44.56%
180 days
45.07%

Interpolation is linear in total variance, not in volatility. Interpolating volatility directly implies a forward variance that can be negative between two expirations. A tenor beyond the longest listed expiration is reported as unavailable rather than extrapolated.

Term structure slope

Last 5 sessions

0.951.001.051.101.151.202026-09-18 — 90-day over 30-day 1.122026-09-21 — 90-day over 30-day 1.112026-09-22 — 90-day over 30-day 1.172026-09-23 — 90-day over 30-day 1.172026-09-24 — 90-day over 30-day 1.1718 Sep21 Sep22 Sep23 Sep24 Sep

The dashed line marks 1.00, where the 90-day and 30-day at-the-money volatilities are equal. Above it the longer tenor carries the higher volatility.

The term structure is the at-the-money implied volatility of each listed expiration, plotted against how far away that expiration is. Its usual shape for a calm underlying slopes gently upward, because a longer horizon admits more uncertainty.

It inverts when the market prices a dated event: an expiration that captures a scheduled announcement carries the variance of that event on top of ordinary trading, so a shorter contract can print a higher volatility than a longer one.

Earnings

What the options priced in before each report, and what happened

Next report

2026-11-11Time not statedEstimated from its reporting cadence