Options Skew Analytics

PHM option chain

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

Data as of 23 September 2026 (end of day)

2026-10-02(9 days)ATM 33.15%±6.21skew -0.16
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
22$8.90$11.50—$110.00—————
—————$115.0034.54%$0.80$1.0520
—————$116.0033.68%$1.00$1.3001
—————$117.0033.21%$1.25$1.6540
—————$118.0033.00%$1.60$2.0590
01$2.45$2.90—$119.0033.29%$2.05$2.5572
02$1.95$2.4033.04%$120.00—$2.55$3.1020
—————$122.00—$3.80$4.30108
02$1.05$1.3534.58%$123.00—$3.90$5.0010
04$0.80$1.1034.70%$124.00—$4.00$6.2010
021$0.60$0.9535.39%$125.00—————
—————$128.00—$8.00$9.2010
—————$135.00—$13.90$16.5010

Forward $119.38. The 25-delta put carries -0.16 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 31.99%±9.62skew +0.71
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0116$23.10$26.50—$95.00—————
02$19.20$21.60—$100.00—————
12450$10.20$10.80—$110.0035.45%$0.80$1.054135
05$6.40$6.90—$115.0034.42%$1.90$2.30851
50$5.60$6.20—$116.0032.57%$1.95$2.5501
50$5.00$5.60—$117.0033.38%$2.55$2.9031
01$3.90$4.70—$119.00—————
0127$3.40$4.0031.94%$120.00—$3.50$4.406110
01$2.95$3.8033.00%$121.00—————
02$2.60$3.2032.48%$122.00—————
—————$123.00—$5.60$6.30480
0196$1.65$2.5034.23%$125.00—$7.00$7.701230
01$1.40$1.9533.03%$126.00—————
010$1.20$1.8033.71%$127.00—————
50$0.95$1.5533.34%$128.00—————
05$0.85$1.3533.79%$129.00—————
0445$0.75$1.2034.32%$130.00—$10.00$12.60891
—————$135.00—$14.00$16.501440

Forward $119.75. The 25-delta put carries +0.71 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 35.71%±17.12skew +1.56
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$24.70$27.50—$95.0041.42%$0.50$0.701520
—————$100.0040.20%$0.90$1.25150
—————$105.0038.82%$1.50$2.10192
—————$110.0037.78%$2.55$3.30564
—————$115.0036.97%$4.10$5.00162
0117$6.60$7.30—$120.0035.84%$6.20$7.1040
166$4.40$5.2035.55%$125.00—$9.20$10.30120
058$2.85$3.7035.82%$130.00—$12.80$13.50200
178$1.85$2.5536.22%$135.00—$16.10$17.50110
028$1.15$1.7536.59%$140.00—————
0301$0.65$1.0535.96%$145.00—————

Forward $120.30. The 25-delta put carries +1.56 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 35.18%±20.57skew +2.03
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$48.60$52.00—$70.00—————
012$34.80$37.40—$85.00—————
03$30.10$32.70—$90.0041.01%$0.50$0.8050
—————$95.0039.76%$0.85$1.30140
01$21.20$23.90—$100.0038.30%$1.40$1.9580
—————$105.0037.30%$2.20$3.00130
015$13.60$15.60—$110.0036.45%$3.40$4.40380
017$10.40$12.70—$115.0035.08%$5.00$6.00190
025$7.80$8.80—$120.0035.06%$7.30$8.401350
021$5.80$6.7035.34%$125.00—$9.30$11.20360
071$3.90$5.0034.78%$130.00—$12.50$14.60790
024$2.50$3.7034.42%$135.00—$16.00$18.30100
062$1.70$2.7034.70%$140.00—$20.00$22.60130
037$1.25$1.8535.02%$145.00—————
028$0.80$1.2034.58%$150.00—————
011$0.55$0.8034.75%$155.00—$33.90$37.3040

Forward $120.45. The 25-delta put carries +2.03 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 34.22%±23.13skew +1.20
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
09$63.40$66.80—$55.00—————
016$58.50$61.90—$60.00—————
032$53.60$57.00—$65.00—————
033$48.80$52.20—$70.00—————
07$43.90$47.00—$75.00—————
09$39.90$42.50—$80.00—————
013$35.20$37.80—$85.00—————
09$30.80$33.20—$90.0039.53%$0.80$1.101370
024$26.40$28.10—$95.0038.61%$1.20$1.80375
084$22.10$24.70—$100.0037.07%$1.85$2.50470
058$18.20$20.70—$105.0037.19%$3.20$3.602140
022$14.80$16.70—$110.0035.26%$4.00$5.103130
043$11.50$13.60—$115.0034.88%$5.80$7.00980
0156$9.10$10.10—$120.0034.45%$8.00$9.302710
079$6.80$7.9034.07%$125.00—$10.60$12.102860
0175$4.80$6.1033.50%$130.00—$13.70$15.30950
0170$3.80$4.5033.87%$135.00—$16.80$19.001200
073$2.70$3.5034.06%$140.00—$20.60$23.001550
0366$2.15$2.6534.80%$145.00—$24.80$27.40150
270$1.40$2.0034.51%$150.00—$29.50$31.8040
078$0.90$1.5034.36%$155.00—$34.10$36.5010

Forward $120.96. The 25-delta put carries +1.20 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 34.27%±29.14skew +2.93
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$45.60$48.30—$75.00—————
05$40.90$43.70—$80.00—————
08$36.40$39.30—$85.00—————
018$32.20$34.90—$90.0039.22%$1.45$2.25260
—————$95.0038.40%$2.15$3.1030
01$24.00$26.90—$100.0037.51%$3.00$4.2030
01$20.40$22.80—$105.0036.75%$4.20$5.508370
01$17.30$19.90—$110.0036.08%$5.70$7.1080
06$14.40$16.80—$115.0035.72%$7.60$9.1020
027$11.60$13.80—$120.0035.45%$9.90$11.402300
016$9.50$10.8034.34%$125.00—$12.60$14.1010
017$7.40$8.9033.95%$130.00—$15.00$17.30500
51$5.80$7.3033.87%$135.00—$18.30$20.5020
0164$4.40$5.9033.57%$140.00—$21.80$24.4010
07$3.50$4.8033.82%$145.00—————
08$2.60$3.7033.32%$150.00—$30.50$33.5010
02$1.95$3.1033.63%$155.00—————

Forward $122.09. The 25-delta put carries +2.93 volatility points over the 25-delta call.

2027-06-17(267 days)ATM 35.14%±37.00skew +2.49
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$55.80$58.70—$65.00—————
01$38.10$41.10—$85.0039.67%$1.85$2.8010
01$34.20$36.70—$90.0038.65%$2.55$3.6030
—————$95.0037.68%$3.40$4.6030
01$26.60$29.70—$100.0037.20%$4.50$6.0070
02$23.40$25.50—$105.0036.62%$5.90$7.5070
—————$110.0036.07%$7.60$9.2010
—————$115.0035.92%$9.60$11.40380
—————$120.0036.61%$13.10$13.302399
01$12.90$14.3035.52%$125.00—$14.50$16.40230
—————$130.00—$17.40$19.3040
04$8.90$10.5034.75%$135.00—————
03$7.30$9.0034.52%$140.00—————
012$6.20$7.6034.54%$145.00—————
025$4.80$6.6034.22%$150.00—————
020$4.00$5.5034.13%$155.00—————
030$3.30$4.6034.06%$160.00—————
02$2.60$4.2034.45%$165.00—————
01$2.25$3.3034.21%$170.00—————

Forward $123.09. The 25-delta put carries +2.49 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.