Options Skew Analytics

PYPL 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 40.47%±1.57skew -7.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
723$7.95$9.45—$44.00—————
523$7.05$8.40—$45.00—————
614$6.15$7.15—$46.00—————
735$5.25$6.00—$47.00—————
2104$4.80$5.55—$47.50—————
543$4.40$5.10—$48.00—————
53$3.95$4.50—$48.50—————
6418$3.40$3.95—$49.00—————
103,647$2.80$3.45—$49.50—————
6088$2.49$2.96—$50.0039.07%$0.02$0.039971,189
6899$1.58$1.81—$51.0037.48%$0.07$0.131,411259
460530$0.85$1.04—$52.0036.94%$0.27$0.391,965767
1,5493,647$0.42$0.5342.87%$53.00—$0.81$1.001,4761,296
3,53210,003$0.18$0.2244.01%$54.00—$1.33$1.752,23116
1,9206,592$0.08$0.1047.67%$55.00—$2.20$2.6840737
1,1064,158$0.04$0.0653.41%$56.00—$3.15$3.6511623
1,1661,282$0.02$0.0560.69%$57.00—$4.10$4.6526078
37624$0.01$0.0467.27%$58.00—$4.90$5.95154
68607$0.01$0.0374.35%$59.00—$5.95$6.601543
2961,703$0.01$0.0280.14%$60.00—$7.15$7.702020
—————$62.00—$9.05$9.8010

Forward $52.57. The 25-delta put carries -7.08 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 32.21%±3.55skew -1.81
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
131$6.65$8.90—$45.00—————
02$4.70$6.95—$47.00—————
1170$2.77$3.25—$50.0031.61%$0.37$0.484001
2818$2.18$2.68—$51.0031.43%$0.63$0.76110102
5154$1.65$1.80—$52.0031.72%$1.02$1.1623758
13135$1.18$1.3232.36%$53.00—$1.54$1.692090
38141$0.81$0.9532.89%$54.00—$2.18$2.42291
103162$0.55$0.6633.42%$55.00—$2.67$3.20261
63250$0.35$0.4633.89%$56.00—$3.20$4.30330
—————$57.00—$4.30$4.80810
5121$0.17$0.2536.78%$58.00—$4.95$6.60360
—————$59.00—$5.75$7.5550
—————$60.00—$6.90$8.457360
—————$61.00—$7.70$9.55100
—————$62.00—$8.70$10.50790
057$0.01$0.0546.41%$65.00—————

Forward $52.63. The 25-delta put carries -1.81 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 34.13%±4.53skew -0.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01,199$9.40$11.45—$42.50—————
11,058$7.15$8.20—$45.00—————
250$5.90$7.40—$46.00—————
02$4.85$6.60—$47.00—————
411,773$5.20$5.75—$47.50—————
—————$49.0032.38%$0.32$0.47510
01$3.00$4.65—$49.50—————
191,980$3.15$3.70—$50.0032.66%$0.57$0.696,265217
642$2.46$3.25—$51.0033.19%$0.90$1.02126,270
586$1.93$2.53—$52.0033.58%$1.31$1.44241512
4625,371$1.72$2.20—$52.5033.84%$1.57$1.677,442284
157253$1.45$1.9934.13%$53.00—$1.82$1.961462
2,0801,352$1.15$1.3132.85%$54.00—$2.06$2.6831
1,9629,532$0.84$0.8932.27%$55.00—$2.93$3.452,07113
252185$0.61$0.6532.81%$56.00—————
58142$0.44$0.4833.53%$57.00—————
6326,054$0.38$0.4234.11%$57.50—$4.95$5.402,1996
—————$59.00—$6.15$7.15121
43613,079$0.18$0.2537.50%$60.00—$7.15$7.701,2280
—————$62.50—$9.55$10.202470
12410,348$0.06$0.1044.42%$65.00—$10.35$13.7590

Forward $52.83. The 25-delta put carries -0.15 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 31.99%±4.85skew -0.83
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$5.90$7.95—$46.00—————
6182$4.70$5.50—$48.0032.63%$0.29$0.4542627
41$4.00$4.70—$49.0032.35%$0.50$0.6016144
1011$3.20$4.00—$50.0032.88%$0.76$0.9018013
015$2.50$3.30—$51.0033.41%$1.10$1.28426
225$2.19$2.70—$52.0034.07%$1.51$1.77225
46458$1.79$1.9231.98%$53.00—$1.74$2.27458
7106$1.38$1.5132.28%$54.00—$2.26$2.842322
8168$1.02$1.1732.31%$55.00—$3.00$3.70584
4261$0.76$0.9032.65%$56.00—$3.55$4.7010
1480$0.61$0.7033.71%$57.00—$4.40$5.3537
28501$0.44$0.5434.04%$58.00—$5.20$6.8092
—————$59.00—$6.15$7.3553
—————$60.00—$7.05$8.5044
—————$61.00—$7.90$9.55280

Forward $52.85. The 25-delta put carries -0.83 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 39.70%±8.39skew +0.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
012$30.85$34.85—$20.00—————
08$25.90$29.90—$25.00—————
02$23.40$27.40—$27.50—————
040$21.80$24.05—$30.00—————
023$19.30$21.60—$32.50—————
0105$16.85$19.15—$35.00—————
0133$14.40$16.65—$37.50—————
0310$12.80$14.30—$40.00—————
5805$10.55$11.65—$42.5042.28%$0.29$0.423,7943
21,292$8.40$8.90—$45.0040.55%$0.55$0.733,71437
122,145$6.40$6.85—$47.5040.02%$1.10$1.233,710164
1032,794$4.75$5.15—$50.0039.97%$1.91$2.051,562291
563,145$3.40$3.75—$52.5040.03%$3.00$3.202,80394
1,3747,778$2.39$2.4939.30%$55.00—$4.45$4.651,7898
1423,729$1.60$1.6839.34%$57.50—$5.85$6.501,7854
1757,654$1.06$1.1539.94%$60.00—$7.85$8.401,0110
1161,680$0.68$0.7640.25%$62.50—$9.50$11.35910
933,166$0.41$0.5140.53%$65.00—$12.05$13.552690
—————$67.50—$14.20$16.0520
1633,504$0.19$0.2442.55%$70.00—$16.45$18.7520
81,126$0.04$0.0947.63%$80.00—————

Forward $52.98. The 25-delta put carries +0.08 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 37.82%±9.72skew -0.44
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
047$24.30$26.60—$27.50—————
0971$21.80$24.10—$30.00—————
0257$19.35$21.65—$32.50—————
0277$17.25$19.15—$35.00—————
0120$14.55$16.65—$37.50—————
11,100$13.05$13.60—$40.00—————
21,197$9.90$11.70—$42.5039.84%$0.47$0.691,40910
5815$8.25$9.40—$45.0038.53%$0.90$1.024,47356
01,583$6.90$7.40—$47.5037.88%$1.49$1.642,1020
802,595$5.30$5.75—$50.0037.61%$2.35$2.528,451149
184,193$3.95$4.15—$52.5037.98%$3.55$3.702,52951
276,584$2.86$3.0537.69%$55.00—$4.90$5.105,75935
211,846$2.12$2.2138.14%$57.50—$6.45$6.853,2840
1,13910,247$1.46$1.6338.31%$60.00—$8.55$8.856,0550
82,861$1.00$1.1138.06%$62.50—$10.55$10.952,0540
3320,544$0.63$0.8538.44%$65.00—$12.75$13.454,5040
126,316$0.42$0.6138.79%$67.50—$14.45$15.80230
46,407$0.30$0.4539.59%$70.00—$16.85$18.352,3150
—————$72.50—$17.85$21.85130
—————$75.00—$20.35$23.75230
—————$77.50—$23.95$26.0040

Forward $52.93. The 25-delta put carries -0.44 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 36.01%±10.71skew +1.05
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0224$24.35$26.55—$27.50—————
01,976$21.90$23.95—$30.00—————
02,661$19.45$21.60—$32.50—————
01,278$17.30$18.55—$35.00—————
0192$15.55$16.30—$37.50—————
02,433$13.20$13.95—$40.0040.00%$0.38$0.5911,1391
115,602$11.15$11.65—$42.5040.37%$0.67$1.106,3400
505,451$9.10$9.60—$45.0037.58%$1.15$1.2912,33178
153,813$7.10$7.85—$47.5036.75%$1.80$1.902,88955
13015,632$5.85$6.15—$50.0036.74%$2.70$2.8412,79445
772,043$4.45$4.65—$52.5036.10%$3.55$4.152,8801
6511,284$3.35$3.5535.98%$55.00—$5.20$5.4010,7103
186,679$2.49$2.6235.78%$57.50—$6.60$7.151,4430
1524,493$1.78$2.0035.94%$60.00—$8.45$8.956,9053
864,353$1.28$1.4135.70%$62.50—$10.20$11.701,7480
1158,936$0.92$1.0836.26%$65.00—$12.55$13.306,6740
02,525$0.53$0.8636.08%$67.50—$14.70$15.951,7080
620,727$0.44$0.5636.38%$70.00—$17.15$17.851570
—————$72.50—$18.90$20.751760
17311,006$0.26$0.2837.32%$75.00—$21.45$23.502610
—————$77.50—$23.95$26.0020

Forward $53.21. The 25-delta put carries +1.05 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 35.60%±13.29skew +1.93
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0173$26.15$29.35—$25.00—————
029$23.75$26.95—$27.50—————
0187$22.15$24.30—$30.00—————
2212$19.70$21.95—$32.50—————
0267$18.05$19.60—$35.00—————
0127$15.15$17.45—$37.50—————
0800$13.05$15.45—$40.0037.90%$0.70$0.902,5821
0464$11.30$12.85—$42.5037.48%$1.08$1.402,0662
0768$9.90$11.05—$45.0036.98%$1.64$2.006,33740
01,016$8.05$9.20—$47.5037.07%$2.39$2.881,2660
372,205$6.70$7.40—$50.0036.69%$3.30$3.851,37913
611,150$5.35$6.10—$52.5035.80%$4.30$4.958153
41,431$4.25$4.9535.59%$55.00—$5.55$6.406823
98734$3.50$3.9035.74%$57.50—$7.30$7.851741
342,046$2.60$3.1035.11%$60.00—$8.75$9.604251
0346$1.85$2.4534.48%$62.50—$10.25$12.052740
294,553$1.60$1.8735.14%$65.00—$12.70$13.60470
1292$1.06$1.5234.68%$67.50—————
—————$70.00—$17.05$18.70610
—————$75.00—$20.35$23.60450
6308$0.28$0.4335.58%$80.00—————

Forward $53.62. The 25-delta put carries +1.93 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.