Options Skew Analytics

OWL option chain

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

Data as of 10 November 2026 (end of day)

2026-12-04(24 days)ATM 47.86%±1.25skew -1.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
20$4.10$4.50—$6.00—————
20$3.60$3.90—$6.50—————
20$2.70$3.00—$7.50—————
02$1.55$2.00—$8.5058.93%$0.05$0.105300
—————$9.0053.59%$0.10$0.15312351
15$0.90$1.00—$9.5047.46%$0.15$0.251410
0190$0.55$0.70—$10.0048.93%$0.35$0.457113
0238$0.30$0.4547.32%$10.50—$0.60$0.70110
087$0.10$0.1548.60%$11.50—$1.20$1.5010
06$0.05$0.1050.60%$12.00—$1.65$2.00130
—————$14.00—$3.50$4.2010

Forward $10.23. The 25-delta put carries -1.14 volatility points over the 25-delta call.

2027-01-15(66 days)ATM 46.17%±2.03skew +4.49
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$6.90$7.50—$3.00—————
052$4.90$5.50—$5.00—————
02$4.00$4.50—$6.00—————
012$3.00$3.50—$7.0063.32%$0.05$0.101,0211
22,994$2.35$2.55—$8.0052.36%$0.10$0.1529,6758
11,481$1.40$1.75—$9.0048.72%$0.25$0.356,1331
349,452$0.90$1.05—$10.0046.95%$0.60$0.7037,481255
1,2565,726$0.50$0.5545.52%$11.00—$1.15$1.251,76195
1189,337$0.20$0.3044.23%$12.00—$1.80$2.103,33510
79,330$0.10$0.1545.28%$13.00—$2.60$3.0012,3570
01,565$0.05$0.1048.35%$14.00—$3.60$4.00590
—————$15.00—$4.60$5.105,5080
—————$16.00—$5.50$6.00560
—————$17.00—$6.70$6.902,1240
—————$19.00—$8.50$9.10650
—————$20.00—$9.50$10.107770
—————$22.00—$11.60$12.101290
—————$25.00—$14.50$15.10500
—————$27.00—$16.50$17.1010

Forward $10.33. The 25-delta put carries +4.49 volatility points over the 25-delta call.

2027-02-19(101 days)ATM 48.90%±2.63skew +5.48
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$5.10$5.60—$5.00—————
061$3.10$3.60—$7.0057.37%$0.10$0.151,6230
0235$2.45$2.75—$8.0052.40%$0.20$0.308606
01,159$1.65$1.90—$9.0051.32%$0.50$0.553,197235
492,898$1.10$1.20—$10.0049.42%$0.90$0.958,32011
4825$0.65$0.8048.46%$11.00—$1.40$1.55131,0054
11,624$0.35$0.4545.84%$12.00—$2.05$2.402000
63,149$0.20$0.3047.19%$13.00—$2.80$3.302060
—————$14.00—$3.70$4.20410
—————$15.00—$4.60$5.101610
—————$16.00—$5.60$6.10500
—————$17.00—$6.40$7.1080
—————$18.00—$7.50$8.10300
—————$20.00—$9.50$10.10130

Forward $10.23. The 25-delta put carries +5.48 volatility points over the 25-delta call.

2027-05-21(192 days)ATM 47.86%±3.52skew +5.19
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$4.0078.70%$0.05$0.102000
010$5.00$5.60—$5.00—————
05$3.20$3.70—$7.0054.31%$0.25$0.35844800
032$2.45$2.85—$8.0051.67%$0.45$0.601,1070
0202$1.80$2.15—$9.0049.46%$0.75$0.953,9210
1531,299$1.30$1.60—$10.0048.97%$1.20$1.4548839
21624$0.95$1.1047.47%$11.00—$1.75$2.0517410
81,062$0.65$0.7546.12%$12.00—$2.45$2.652,17110
10367$0.45$0.5546.48%$13.00—$3.20$3.501060
0199$0.30$0.4046.52%$14.00—$4.00$4.40340
9203$0.20$0.3046.92%$15.00—$4.80$5.3020
—————$18.00—$7.60$8.10300
—————$20.00—$9.50$10.1030

Forward $10.13. The 25-delta put carries +5.19 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.