Options Skew Analytics

PDD option chain

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

Data as of 23 September 2026 (end of day)

2026-09-25(2 days)ATM 37.26%±2.18skew -2.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$13.65$14.70—$65.00—————
014$8.40$9.45—$70.00—————
11$6.45$7.80—$72.00—————
10$5.90$6.40—$73.00—————
155$4.70$5.40—$74.00—————
042$3.75$4.70—$75.0042.83%$0.03$0.061,58225
018$2.70$3.85—$76.00—————
40178$2.16$2.60—$77.00—————
1101$1.49$1.74—$78.0035.77%$0.33$0.4397153
152734$0.84$1.04—$79.0037.08%$0.68$0.911,35764
2772,715$0.50$0.5638.01%$80.00—$1.25$1.573,43811
1,046946$0.22$0.3238.62%$81.00—$1.92$2.411314
5592,049$0.13$0.1440.03%$82.00—$2.74$3.402170
621,514$0.06$0.0842.14%$83.00—$3.80$4.101815
—————$84.00—$4.55$5.251201
1,6922,809$0.01$0.0549.69%$85.00—$5.70$6.303275
—————$87.00—$7.65$8.5501
—————$88.00—$8.60$9.5011
—————$102.00—$21.80$23.9005

Forward $79.15. The 25-delta put carries -2.84 volatility points over the 25-delta call.

2026-10-02(9 days)ATM 31.46%±3.92skew +0.91
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$13.50$14.80—$65.00—————
—————$74.0035.26%$0.17$0.26731
015$4.00$4.80—$75.0033.26%$0.24$0.35890193
01$3.35$3.90—$76.0032.80%$0.43$0.49292541
02$2.81$3.10—$77.0032.89%$0.65$0.7821427
30529$2.17$2.40—$78.0032.39%$0.96$1.1032844
87298$1.59$1.86—$79.0031.76%$1.37$1.492277
861,256$1.18$1.2731.13%$80.00—$1.90$2.046948
177241$0.79$0.9231.12%$81.00—$2.51$2.78550
581403$0.55$0.6731.98%$82.00—$3.25$3.551181
141543$0.37$0.4432.08%$83.00—$4.10$4.302067
529801$0.25$0.3433.44%$84.00—$4.35$5.901070
188224$0.16$0.2133.36%$85.00—$5.45$6.251554
—————$86.00—$6.35$7.75420
—————$87.00—$7.25$8.854120
—————$88.00—$8.30$9.80140
—————$89.00—$9.25$10.80110
—————$90.00—$10.05$11.90210

Forward $79.30. The 25-delta put carries +0.91 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 30.89%±5.13skew +1.19
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$74.0032.79%$0.36$0.491411
025$4.25$5.30—$75.0032.27%$0.56$0.627614
09$3.75$4.25—$76.0031.48%$0.75$0.831524
087$3.20$3.55—$77.0031.20%$1.03$1.123434
038$2.66$2.97—$78.0030.94%$1.38$1.4822124
0635$2.12$2.30—$79.0030.84%$1.80$1.941529
24236$1.64$1.8530.98%$80.00—$2.33$2.4827811
25315$1.25$1.4731.19%$81.00—$2.88$3.10430
130270$0.94$1.0430.48%$82.00—$3.55$4.05830
4764$0.66$0.7830.29%$83.00—$4.25$4.90100
25116$0.50$0.5830.75%$84.00—$4.90$5.9540
—————$85.00—$5.60$6.85560
15884$0.26$0.3531.91%$86.00—$6.50$7.8010
—————$87.00—$7.45$9.0020
—————$88.00—$8.35$10.3020
—————$90.00—$10.50$11.9080
—————$105.00—$24.65$26.8545

Forward $79.34. The 25-delta put carries +1.19 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 30.70%±6.12skew +0.93
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
029$28.00$30.45—$50.00—————
02$18.05$21.25—$60.00—————
048$13.65$14.90—$65.00—————
7251$8.80$10.15—$70.00—————
—————$73.0033.74%$0.42$0.6710
01$4.80$6.75—$74.0031.72%$0.57$0.693113
11,096$4.80$5.50—$75.0031.65%$0.81$0.896,1611,065
01$4.30$4.65—$76.0031.26%$1.05$1.1523433
01$3.45$3.95—$77.0031.10%$1.36$1.48318
085$2.95$3.30—$78.0030.93%$1.74$1.8634
1139$2.54$2.73—$79.0030.79%$2.18$2.3172
7107,685$2.08$2.2230.68%$80.00—$2.70$2.8210,52353
1316$1.67$1.8530.97%$81.00—$3.20$3.50101
10118$1.19$1.5530.46%$82.00—————
5319$1.03$1.1330.52%$83.00—$4.55$5.1010
4542$0.81$0.8930.72%$84.00—$5.15$6.0510
2775,380$0.64$0.7031.05%$85.00—$6.10$6.557,4701
—————$86.00—$6.70$8.0010
10410,458$0.20$0.2433.80%$90.00—$10.65$11.354,9191
103,843$0.07$0.1037.25%$95.00—$15.20$16.951191

Forward $79.39. The 25-delta put carries +0.93 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 31.39%±7.14skew +1.94
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$7.75$10.00—$71.00—————
—————$72.0032.31%$0.45$0.60530
—————$73.0030.80%$0.48$0.751281
06$5.85$6.85—$74.0031.83%$0.78$0.991155
02$5.05$6.05—$75.0031.10%$1.03$1.1512119
12$4.60$5.05—$76.0031.34%$1.25$1.57823
770$3.85$4.35—$77.0029.59%$1.42$1.821,2641
02$3.40$3.70—$78.0030.86%$2.04$2.2315718
1023$2.86$3.15—$79.0031.18%$2.50$2.76476
1469$2.45$2.6731.49%$80.00—$3.00$3.206910
14$2.00$2.3631.93%$81.00—$3.55$3.8040
1213$1.64$1.8130.92%$82.00—$4.10$4.4590
460$1.23$1.6431.23%$83.00—$4.80$5.35130
3227$0.80$1.2229.16%$84.00—$5.15$6.35470
1178$0.81$1.0230.91%$85.00—$6.20$7.15440
—————$86.00—$6.40$8.6060
—————$87.00—$7.55$9.2010
643$0.43$0.5932.21%$88.00—$8.15$10.20180
758$0.25$0.4132.70%$90.00—$10.35$12.05160

Forward $79.38. The 25-delta put carries +1.94 volatility points over the 25-delta call.

2026-10-30(37 days)ATM 31.32%±7.92skew -0.16
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0157$8.70$11.30—$70.00—————
—————$74.0031.88%$0.97$1.2620
01$5.30$6.25—$75.0031.63%$1.25$1.50752
—————$76.0031.47%$1.54$1.83351
—————$77.0032.29%$1.87$2.40270
02$3.55$4.15—$78.0032.09%$2.28$2.803912
012$3.10$3.75—$79.0032.11%$2.73$3.301930
028$2.62$3.1031.20%$80.00—$3.20$3.85441
069$2.20$2.6431.04%$81.00—$3.75$4.4020
02$1.84$2.4031.82%$82.00—$4.35$4.9030
031$1.50$2.0031.43%$83.00—$4.90$5.6002
89$1.30$1.5731.14%$84.00—$5.80$6.4020
14177$1.15$1.3331.79%$85.00—$6.25$7.40230
248$0.82$1.2632.01%$86.00—$6.90$8.2010
—————$87.00—$7.20$9.5020
19282$0.35$0.5031.43%$90.00—$10.05$12.15160
—————$100.00—$18.90$22.9510

Forward $79.41. The 25-delta put carries -0.16 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 35.28%±11.22skew +0.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$28.30$30.75—$50.00—————
017$23.40$26.45—$55.00—————
063$18.90$20.55—$60.00—————
028$14.45$15.75—$65.0041.12%$0.52$0.673,03024
0109$10.30$11.35—$70.0037.18%$1.10$1.194,446164
0221$6.85$7.50—$75.0035.83%$2.37$2.465,551131
582,353$4.25$4.4035.28%$80.00—$4.50$4.658,31689
2723,218$2.43$2.4835.39%$85.00—$7.35$8.255,51320
1953,738$1.27$1.3635.69%$90.00—$11.40$11.902,201126
132,200$0.66$0.7736.71%$95.00—$15.55$16.907351
2374,150$0.36$0.4538.14%$100.00—$20.25$21.906380
73,745$0.21$0.2539.41%$105.00—————

Forward $79.75. The 25-delta put carries +0.14 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 36.16%±14.04skew +1.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$33.45$36.70—$45.00—————
0168$29.30$30.30—$50.00—————
090$24.25$25.50—$55.00—————
0115$19.95$20.85—$60.0043.57%$0.44$0.722,9770
10142$15.10$16.15—$65.0039.48%$0.87$1.0715,9313
5435$11.55$12.00—$70.0037.77%$1.83$1.874,523113
0147$7.85$8.45—$75.0036.83%$3.30$3.408,26836
216,564$5.40$5.6536.15%$80.00—$5.45$5.6515,64230
194,429$3.50$3.6536.23%$85.00—$8.50$8.708,85915
339,255$2.13$2.2836.19%$90.00—$11.90$12.805,9740
04,402$1.32$1.4336.83%$95.00—$15.95$17.152,0990
337,043$0.79$0.9437.66%$100.00—$20.65$21.857,4150
04,029$0.45$0.7239.13%$105.00—$25.55$26.603,6100
213,133$0.33$0.4139.82%$110.00—$29.60$31.952,3090
—————$115.00—$35.25$37.00140
—————$120.00—$39.60$42.8030
—————$125.00—$44.60$47.301310
—————$135.00—$54.60$57.95950

Forward $79.97. The 25-delta put carries +1.57 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.