Options Skew Analytics

PBR option chain

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

Data as of 10 November 2026 (end of day)

2026-11-13(3 days)ATM 63.55%±1.05skew -3.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
204$5.80$6.35—$12.00—————
36$5.00$5.50—$13.00—————
67$4.10$4.35—$14.00—————
01$2.61$2.89—$15.50—————
11$2.10$2.32—$16.00—————
514$1.64$1.86—$16.5067.94%$0.02$0.03144133
1413$1.17$1.36—$17.0067.18%$0.06$0.08204406
635$0.82$0.93—$17.5062.47%$0.14$0.15172263
2,02557$0.49$0.55—$18.0062.55%$0.30$0.33380430
2,704103$0.28$0.3265.04%$18.50—$0.55$0.62521262
2,834286$0.14$0.1765.98%$19.00—$0.91$0.98147125
438329$0.06$0.0865.94%$19.50—$1.28$1.441,8865
1,128535$0.03$0.0469.13%$20.00—$1.78$1.871,19435
56896$0.01$0.0477.24%$20.50—————
—————$21.00—$2.60$3.05719220
—————$21.50—$2.80$4.00311
—————$22.00—$3.40$4.2560
—————$23.00—$4.65$4.9502
—————$24.00—$5.65$5.9002
—————$24.50—$6.15$6.45490
—————$25.50—$7.15$7.40482

Forward $18.21. The 25-delta put carries -3.51 volatility points over the 25-delta call.

2026-11-20(10 days)ATM 48.76%±1.47skew -1.63
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
08$4.95$5.45—$13.00—————
08$3.90$4.60—$14.00—————
0100$3.00$3.55—$15.00—————
—————$15.5057.47%$0.01$0.050201
0180$2.11$2.50—$16.0051.09%$0.03$0.0512,79224
20$1.72$1.94—$16.5049.50%$0.07$0.09216
20236$1.20$1.60—$17.0049.71%$0.15$0.186,89920
—————$17.5048.22%$0.26$0.312123
1563,924$0.63$0.75—$18.0048.98%$0.46$0.5211,6348,441
3451,018$0.42$0.4848.56%$18.50—$0.70$0.78819
7993,454$0.28$0.3049.56%$19.00—$1.00$1.113,13864
612103$0.15$0.2049.85%$19.50—$1.31$1.687192
28,09916,451$0.11$0.1252.22%$20.00—$1.79$1.9611,2734,054
17168$0.05$0.0852.36%$20.50—$2.17$2.6448210
1,52734,014$0.02$0.0450.84%$21.00—$2.71$3.1013,760150
1,0501,041$0.01$0.0353.38%$21.50—$2.67$3.802,8170
13442,616$0.01$0.0256.66%$22.00—$3.70$3.9011,30111
631,217$0.01$0.0262.19%$22.50—$4.15$4.602,0800
—————$23.00—$4.70$4.906,9901
—————$23.50—$5.15$5.552,5187
—————$24.00—$5.70$5.905,6660

Forward $18.20. The 25-delta put carries -1.63 volatility points over the 25-delta call.

2026-12-18(38 days)ATM 41.34%±2.42skew +0.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
032$11.10$15.20—$5.00—————
0148$8.10$12.20—$8.00—————
0146$6.10$6.40—$12.00—————
03,406$4.90$5.60—$13.0056.06%$0.02$0.0567,73047,907
010$4.10$4.45—$14.0048.53%$0.03$0.0762820
08,718$3.15$3.50—$15.0045.00%$0.08$0.1327,1064
1512$2.24$2.56—$16.0043.59%$0.21$0.2747,1851
016,809$1.55$1.75—$17.0042.54%$0.45$0.5319,7337,025
79387$0.97$1.10—$18.0041.27%$0.83$0.9350,7629,187
621,058$0.60$0.6541.57%$19.00—$1.29$1.682,1923
1,61819,121$0.33$0.3741.56%$20.00—$2.08$2.298,4806
446,986$0.15$0.1840.17%$21.00—$2.63$3.458,08559
1,20626,374$0.08$0.1041.45%$22.00—$3.65$4.004,97771
5310,256$0.04$0.0844.41%$23.00—$4.65$5.152,0662
1426,492$0.02$0.0646.89%$24.00—$5.30$6.603,9483
6014,561$0.01$0.0448.51%$25.00—————
2037,364$0.01$0.0351.66%$26.00—————
—————$27.00—$6.85$10.958400
011,603$0.01$0.0360.42%$28.00—$7.85$11.95690
—————$29.00—$8.85$12.9010

Forward $18.16. The 25-delta put carries +0.98 volatility points over the 25-delta call.

2027-01-15(66 days)ATM 40.40%±3.08skew +2.19
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
067$8.10$12.20—$8.00—————
05,214$6.10$6.40—$12.0049.98%$0.01$0.0652,9820
05$5.05$5.45—$13.0046.46%$0.04$0.092260
018$4.10$4.45—$14.00—————
1321,052$3.30$3.50—$15.0043.35%$0.25$0.2854,3062
1191$2.38$2.61—$16.0041.34%$0.43$0.494,565115
10019,123$1.72$1.81—$17.0040.88%$0.76$0.8345,38937
1781,939$1.15$1.2340.54%$18.00—$1.22$1.303,385204
1341,124$0.73$0.8139.59%$19.00—$1.36$2.055,33096
1,80883,703$0.46$0.5039.15%$20.00—————
291,266$0.28$0.3439.96%$21.00—$2.96$3.702,837151
26037,409$0.18$0.2040.21%$22.00—————
563,439$0.10$0.1340.53%$23.00—————
372,893$0.07$0.1143.17%$24.00—————
7023,417$0.05$0.0744.10%$25.00—$5.15$8.002,5732
02,965$0.02$0.0846.63%$26.00—————
020,225$0.02$0.0547.56%$27.00—$7.10$11.251,5280
04,188$0.01$0.0650.98%$28.00—$8.10$12.253290
21,785$0.01$0.0553.02%$29.00—$9.10$13.2004
03,429$0.01$0.0556.08%$30.00—$10.10$14.251640
0421$0.01$0.0457.55%$31.00—————

Forward $17.93. The 25-delta put carries +2.19 volatility points over the 25-delta call.

2027-02-19(101 days)ATM 39.46%±3.72skew +1.33
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
061$7.05$7.40—$11.0051.03%$0.02$0.08200
5135$6.10$6.45—$12.00—————
—————$13.0044.83%$0.11$0.173370
03$4.15$4.50—$14.0042.78%$0.21$0.272892
06$3.30$3.60—$15.0041.73%$0.39$0.4487356
025$2.54$2.77—$16.0041.04%$0.66$0.70655233
0351$1.89$2.06—$17.0040.31%$1.02$1.061,026171
0382$1.39$1.4939.51%$18.00—$1.46$1.549664
1,1951,990$1.01$1.0739.41%$19.00—$2.04$2.136805,066
1482,808$0.71$0.7739.51%$20.00—————
614,470$0.49$0.5539.70%$21.00—————
503,154$0.33$0.3939.87%$22.00—————
160722$0.21$0.2839.98%$23.00—————
0491$0.14$0.2040.39%$24.00—————
2672$0.10$0.1541.33%$25.00—$6.70$7.755531
0383$0.06$0.1141.51%$26.00—————
—————$27.00—$7.15$11.2510
—————$28.00—$8.15$12.2530
—————$30.00—$10.10$14.20200
—————$31.00—$11.10$15.20500
086$0.01$0.0651.05%$32.00—————

Forward $17.94. The 25-delta put carries +1.33 volatility points over the 25-delta call.

2027-03-19(129 days)ATM 39.26%±4.20skew +0.50
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$8.05$8.45—$10.00—————
041$6.05$6.45—$12.00—————
05$5.10$5.50—$13.0043.90%$0.17$0.232,394214
013$4.20$4.55—$14.0042.63%$0.30$0.3721025
0550$3.40$3.70—$15.0041.21%$0.48$0.572,879218
051$2.67$2.92—$16.0040.23%$0.76$0.8420,862548
0976$2.07$2.25—$17.0039.64%$1.12$1.236,578118
57525$1.60$1.7039.46%$18.00—$1.61$1.7124,1660
35243$1.18$1.2939.12%$19.00—$2.18$2.31542102
1,0405,373$0.86$0.9839.18%$20.00—————
5103,244$0.64$0.7339.48%$21.00—————
62918,567$0.46$0.5539.73%$22.00—————
0807$0.33$0.4139.97%$23.00—————
508,147$0.25$0.3140.64%$24.00—$6.00$6.6063530
3813,624$0.19$0.2040.38%$25.00—————
01,792$0.12$0.1941.45%$26.00—$6.20$10.308180
12,705$0.09$0.1542.16%$27.00—$7.15$11.3040
—————$30.00—$10.10$14.2520
0889$0.01$0.0652.40%$36.00—————
0113$0.01$0.0654.09%$37.00—————

Forward $17.99. The 25-delta put carries +0.50 volatility points over the 25-delta call.

2027-06-17(219 days)ATM 40.65%±5.54skew +2.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
017$8.05$8.45—$10.00—————
07$5.15$5.60—$13.0042.82%$0.41$0.541,3185
087$3.60$3.95—$15.0041.52%$0.95$1.0610,21934
10$2.91$3.25—$16.0041.06%$1.32$1.449200
01,056$2.35$2.59—$17.0041.06%$1.80$1.9012,36370
57$1.92$2.0740.94%$18.00—$2.28$2.495190
13480$1.53$1.6740.40%$19.00—$2.89$3.151,6320
4913,458$1.24$1.3540.43%$20.00—————
31,052$0.94$1.0939.88%$21.00—————
50021,590$0.80$0.8840.57%$22.00—————
5041,469$0.58$0.6539.22%$23.00—————
01,349$0.45$0.5940.22%$24.00—————
376,577$0.42$0.4941.52%$25.00—$6.15$9.859662
41,098$0.28$0.4040.77%$26.00—$6.55$10.757630
012,577$0.22$0.3541.39%$27.00—$7.50$11.704640
—————$28.00—$8.40$12.607040
—————$29.00—$9.35$13.552150
—————$30.00—$10.30$14.4540

Forward $17.60. The 25-delta put carries +2.30 volatility points over the 25-delta call.

2027-09-17(311 days)ATM 39.05%±6.29skew +1.91
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
018$8.05$8.45—$10.0042.66%$0.15$0.20555
042$5.20$5.65—$13.0041.60%$0.61$0.79300
06$3.65$4.05—$15.0040.44%$1.22$1.41730
1067$2.51$2.79—$17.0039.86%$2.09$2.32140
773$1.41$1.6138.62%$20.00—$3.90$4.253970
131,340$0.93$1.1438.54%$22.00—————
2488$0.51$0.6538.53%$25.00—————
157$0.35$0.5239.71%$27.00—$7.65$11.9020

Forward $17.46. The 25-delta put carries +1.91 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.