Options Skew Analytics

PNC option chain

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

Data as of 23 September 2026 (end of day)

2026-10-16(23 days)ATM 28.58%±16.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
015$44.80$47.80—$180.00—————
—————$190.0040.54%$0.35$0.451084
01$30.60$32.90—$195.00—————
04$25.40$28.40—$200.0036.33%$0.65$1.051102
01$16.60$19.30—$210.00—————
05$8.80$10.90—$220.0028.64%$3.40$4.605131
—————$222.5028.32%$4.30$5.60500
90$6.00$7.30—$225.0028.43%$5.40$6.9050
044$4.80$6.3028.73%$227.50—$6.90$8.208016
16817$3.80$4.8027.66%$230.00—$8.20$9.802858
10$2.90$3.9027.47%$232.50—$9.80$11.60811
059$1.85$2.6525.21%$235.00—$12.30$13.4004
21186$1.20$1.7526.68%$240.00—$14.80$17.507680
—————$242.50—$17.00$19.60072
—————$250.00—$24.50$26.80230
—————$260.00—$33.80$37.1020
—————$270.00—$43.50$46.80770
—————$280.00—$53.70$57.0010

Forward $225.50. Not enough surviving quotes on both wings to measure the skew here.

2026-11-20(58 days)ATM 25.86%±23.19skew +2.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$63.90$67.90—$160.00—————
02$58.90$62.40—$165.00—————
01$54.10$58.10—$170.00—————
01$50.00$53.00—$175.00—————
02$44.80$47.70—$180.00—————
03$40.40$43.30—$185.0033.88%$0.80$1.0090
040$35.70$38.50—$190.0032.68%$1.10$1.35312
05$31.10$33.80—$195.0031.16%$1.50$1.702031
02$26.40$29.30—$200.0029.81%$2.00$2.25601
016$18.60$20.60—$210.0027.82%$3.70$4.102077
026$11.50$13.30—$220.0026.21%$6.60$7.301612
344$6.40$7.5025.71%$230.00—$11.60$12.301120
462$3.20$4.2025.41%$240.00—$18.40$19.402170
476$1.50$1.9024.78%$250.00—$25.60$27.8050
97777$0.70$0.8524.95%$260.00—$35.10$36.8060
—————$270.00—$44.80$46.7010

Forward $224.97. The 25-delta put carries +2.41 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 25.00%±27.45skew +3.72
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$69.00$73.00—$155.00—————
03$64.00$67.90—$160.00—————
05$59.50$63.00—$165.00—————
03$54.90$57.50—$170.00—————
03$45.90$47.90—$180.0033.67%$1.05$1.35131
01$41.20$43.80—$185.0032.17%$1.35$1.60640
028$36.70$39.30—$190.0031.23%$1.75$2.10642
05$32.30$34.20—$195.0029.89%$2.25$2.552214
014$27.90$30.50—$200.0028.95%$2.90$3.30382
014$20.00$22.20—$210.0027.50%$4.80$5.602,0213
1265$13.30$15.30—$220.0026.22%$8.00$8.804691
180$8.50$9.7024.87%$230.00—$11.60$14.104390
28115$5.00$6.1024.77%$240.00—$18.30$20.201100
1356$2.60$3.2023.78%$250.00—$26.50$28.702100
2560$1.35$2.0524.50%$260.00—$35.10$37.40140
5162$0.70$0.9524.17%$270.00—$44.90$46.6030
—————$280.00—$54.10$57.10160

Forward $226.21. The 25-delta put carries +3.72 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 25.13%±31.81skew +1.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
074$84.20$87.60—$140.00—————
077$78.90$83.00—$145.00—————
051$74.60$77.40—$150.00—————
021$70.60$72.70—$155.00—————
0177$65.90$68.40—$160.00—————
034$61.00$63.60—$165.00—————
0139$56.40$58.90—$170.00—————
01,730$51.80$53.70—$175.00—————
067$46.60$49.20—$180.0032.66%$1.45$2.151710
047$42.10$45.20—$185.0031.48%$1.80$2.604940
057$38.00$40.30—$190.0030.56%$2.30$3.209300
039$33.70$36.50—$195.0029.25%$2.90$3.70771
0329$29.40$32.30—$200.0028.21%$3.70$4.401614
0134$22.30$25.00—$210.0026.76%$5.70$6.902010
0256$15.90$17.90—$220.0025.88%$8.90$10.602251
4332$10.00$11.9025.11%$230.00—$13.60$15.202190
0591$6.80$8.4025.76%$240.00—$20.50$21.501397
9462$4.10$5.1024.92%$250.00—$26.70$29.001870
4743$2.30$3.1024.53%$260.00—$35.30$37.60510
17507$1.35$1.6524.18%$270.00—$44.60$47.4040
0204$0.80$1.0024.56%$280.00—$54.20$56.90140

Forward $226.50. The 25-delta put carries +1.84 volatility points over the 25-delta call.

2027-02-19(149 days)ATM 25.14%±36.32skew +3.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$175.0031.67%$1.45$2.4070
—————$180.0031.21%$2.20$2.7520
—————$185.0030.26%$2.70$3.3020
—————$195.0028.63%$4.00$4.9010
—————$200.0027.87%$4.90$5.90120
—————$210.0026.63%$7.40$8.50110
—————$220.0025.64%$10.90$12.10760
014$11.90$13.1025.09%$230.00—$15.60$17.00110
435$8.10$9.0024.60%$240.00—$20.80$23.10390
096$5.20$6.0024.17%$250.00—$27.90$30.201170
053$3.10$3.9023.76%$260.00—$36.10$38.50380
0125$1.80$2.7023.91%$270.00—————
0117$1.15$1.8024.28%$280.00—————

Forward $226.13. The 25-delta put carries +3.70 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 25.51%±40.28skew +3.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$61.40$64.40—$165.00—————
—————$170.0032.64%$1.65$2.6070
03$52.10$54.70—$175.0032.10%$2.20$3.10700
01$47.90$50.90—$180.0031.07%$2.65$3.60400
061$43.50$46.60—$185.0030.27%$3.20$4.30400
—————$190.0029.52%$3.90$5.1090
0122$35.80$38.30—$195.0028.60%$4.90$5.7015
02$32.10$34.50—$200.0028.06%$6.00$6.8061
04$25.00$26.90—$210.0027.03%$8.80$9.5026451
09$18.80$20.90—$220.0026.25%$12.40$13.3051836
416$13.70$14.9025.54%$230.00—$16.90$18.102664
1162$9.50$10.6024.76%$240.00—$22.70$24.0029212
33192$6.70$7.2024.41%$250.00—$28.50$31.10270
2115$4.40$5.2024.40%$260.00—————
0296$2.50$3.8024.16%$270.00—————
188$1.70$2.4524.15%$280.00—$55.10$57.5010

Forward $226.73. The 25-delta put carries +3.66 volatility points over the 25-delta call.

2027-06-17(267 days)ATM 26.12%±51.00skew +4.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$150.0036.22%$1.85$2.60100
—————$155.0034.91%$2.00$2.95120
—————$160.0033.95%$2.30$3.4090
01$62.90$66.20—$165.0033.16%$2.75$3.90260
—————$170.0032.34%$3.20$4.50260
01$54.40$57.60—$175.0031.67%$3.80$5.20280
—————$180.0030.92%$4.50$5.9050
—————$185.0030.31%$5.30$6.8070
01$42.70$45.50—$190.0029.68%$6.20$7.8090
04$39.20$41.80—$195.0029.21%$7.30$9.0040
03$35.60$38.00—$200.0028.68%$8.50$10.30600
04$29.00$31.50—$210.0027.65%$11.40$13.30200
02$23.10$25.60—$220.0026.80%$15.10$17.00570
01$18.20$20.0026.35%$230.00—$19.60$21.902400
0147$13.80$15.7025.78%$240.00—$24.90$27.502410
0181$10.20$12.2025.34%$250.00—$31.40$33.90880
088$7.50$9.3025.04%$260.00—$38.80$41.2080
0105$5.30$6.9024.62%$270.00—$46.90$49.5030
0544$4.00$5.2024.74%$280.00—$55.60$58.4090
035$2.45$3.8024.13%$290.00—————
025$1.80$2.8524.32%$300.00—————

Forward $228.30. The 25-delta put carries +4.06 volatility points over the 25-delta call.

2027-09-17(359 days)ATM 26.30%±59.66skew +3.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$105.30$108.50—$120.00—————
—————$135.0037.58%$1.85$2.5530
—————$140.0036.68%$2.15$2.9020
—————$150.0035.11%$3.00$3.7020
—————$175.0031.68%$6.10$7.0010
—————$180.0030.91%$6.80$7.9020
—————$185.0029.93%$7.30$8.9010
—————$190.0029.40%$8.30$10.1050
01$42.10$45.00—$195.00—————
—————$200.0028.43%$11.20$12.40213
—————$210.0027.98%$14.90$15.70130
01$26.60$28.80—$220.0027.24%$18.50$19.802553
100$21.70$23.5026.81%$230.00—$23.20$24.505644
200$17.40$18.7026.06%$240.00—————
357$13.60$15.0025.54%$250.00—$34.00$36.1030
023$10.40$12.6025.50%$260.00—————
109$8.10$9.6025.03%$270.00—————
03$5.80$7.7024.66%$280.00—————
10$2.35$3.6024.21%$310.00—————

Forward $228.69. The 25-delta put carries +3.77 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.