Options Skew Analytics

REGN option chain

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

Data as of 23 September 2026 (end of day)

2026-12-18(86 days)ATM 32.13%±126.39
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
041$75.00$81.90—$760.0032.62%$25.00$31.2080
0—$72.00$78.60—$765.0033.06%$27.40$33.80—0
025$69.00$75.60—$770.0032.63%$29.10$34.80210
0—$66.00$72.20—$775.0033.05%$31.50$37.70—0
017$63.00$69.70—$780.0032.42%$33.10$38.501980
0—$60.00$66.80—$785.0032.79%$35.20$41.90—0
029$57.00$64.30—$790.0032.24%$37.10$42.902760
0—$55.00$60.70—$795.0032.74%$39.80$46.40—0
0171$52.00$58.90—$800.0032.42%$41.00$49.10410
0—$49.00$55.80—$805.0032.42%$43.90$51.20—0
043$47.00$53.80—$810.0032.36%$46.00$54.10410
0—$44.00$51.4032.09%$815.00—$50.00$56.30—0
056$42.00$49.1032.13%$820.00—$52.00$59.50360
0—$40.00$46.1031.90%$825.00—$55.20$61.80—0
026$37.30$44.7031.90%$830.00—$57.50$63.00210
0—$35.00$41.7031.47%$835.00—$60.80$67.50—0
045$33.00$40.6031.71%$840.00—$63.00$71.20160
0—$31.00$38.5031.56%$845.00—$66.80$73.40—0
172$30.00$36.2031.64%$850.00—$69.00$76.60150
0—$28.00$34.0031.37%$855.00—$73.60$79.90—0
037$26.00$33.5031.62%$860.00—$75.00$83.90400

Forward $810.35. Not enough surviving quotes on both wings to measure the skew here.

2027-01-15(114 days)ATM 31.77%±144.47skew +2.21
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
014$201.80$210.00—$610.00—————
014$192.60$200.80—$620.00—————
024$183.50$192.00—$630.00—————
032$175.00$183.00—$640.00—————
029$166.00$174.00—$650.00—————
026$158.00$165.60—$660.00—————
028$141.00$148.80—$680.00—————
0209$126.00$133.00—$700.0033.58%$13.00$20.401880
0205$111.00$117.00—$720.0033.21%$17.90$24.901690
075$96.00$103.40—$740.0032.78%$25.50$28.30760
030$83.30$88.80—$760.0032.53%$32.60$34.702150
0405$72.60$77.60—$780.0032.41%$40.70$42.604092
0272$62.60$65.50—$800.0032.22%$49.30$51.901300
0235$52.50$55.6031.81%$820.00—$58.20$62.30222
0326$44.50$46.6031.70%$840.00—$70.50$73.60460
0164$34.10$40.9031.26%$860.00—$81.90$88.8080
0317$27.70$33.9031.02%$880.00—$95.60$102.6020
0343$22.40$27.2030.64%$900.00—$110.30$117.0020
1149$17.80$22.5030.57%$920.00—————
078$14.10$19.9031.06%$940.00—————
0195$10.90$17.2031.29%$960.00—————

Forward $813.72. The 25-delta put carries +2.21 volatility points over the 25-delta call.

2027-02-19(149 days)ATM 33.72%±175.92skew +2.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$170.20$179.30—$655.00—————
03$166.20$175.30—$660.00—————
—————$670.0034.66%$12.90$19.70110
—————$685.0034.79%$16.10$23.7010
—————$695.0035.28%$18.80$27.5010
021$135.90$144.90—$700.0035.17%$19.90$28.8080
01$128.90$137.80—$710.00—————
—————$715.0035.03%$24.10$33.0020
02$121.90$130.80—$720.0034.92%$25.50$34.40120
09$108.80$117.00—$740.00—————
03$96.30$105.00—$760.0033.99%$39.70$45.9010
015$84.80$92.10—$780.0033.81%$48.00$54.0040
080$74.10$81.60—$800.00—————
03$64.10$71.4033.93%$820.00—$67.20$75.0020
014$55.00$62.6033.66%$840.00—————
05$46.80$55.0033.49%$860.00—————
034$34.00$39.9032.87%$900.00—————
08$27.40$36.0032.87%$920.00—————
02$22.60$31.8032.94%$940.00—————
016$18.30$27.8032.86%$960.00—————
03$15.00$23.3032.59%$980.00—————

Forward $816.59. The 25-delta put carries +2.06 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 35.18%±200.39skew +0.95
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$197.00$205.00—$630.00—————
03$188.80$196.90—$640.0037.06%$12.80$20.50450
029$180.90$188.90—$650.0036.72%$14.60$22.00300
018$172.90$181.00—$660.0036.50%$16.50$24.00100
019$157.80$165.70—$680.0035.03%$20.90$25.10100
043$143.20$150.90—$700.0035.60%$25.80$33.20330
030$129.30$137.10—$720.0035.29%$31.70$39.00270
031$116.40$123.80—$740.0035.01%$38.40$45.60260
026$104.30$111.70—$760.0034.77%$46.00$53.00360
033$93.00$98.70—$780.0034.65%$54.80$61.30340
192$82.10$87.80—$800.0034.92%$65.90$70.60320
030$72.90$78.4034.50%$820.00—$74.60$80.90191
057$66.60$71.0035.19%$840.00—$85.00$92.0060
041$58.80$62.8035.03%$860.00—$96.30$104.0090
017$49.20$53.7033.92%$880.00—$110.30$116.0010
0116$42.50$50.0034.39%$900.00—$122.80$130.0010
021$36.80$44.0034.27%$920.00—$137.10$145.0020
036$31.70$39.0034.25%$940.00—————
046$27.20$35.0034.36%$960.00—————
028$23.20$31.0034.34%$980.00—————
066$19.70$28.0034.50%$1,000.00—————

Forward $817.86. The 25-delta put carries +0.95 volatility points over the 25-delta call.

2027-05-21(240 days)ATM 35.38%±235.93skew +2.17
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$300.00$308.00—$520.00—————
0—$282.80$290.50—$540.00—————
0—$265.80$273.30—$560.00—————
0—$249.00$256.40—$580.00—————
0—$232.20$240.40—$600.00—————
0—$216.10$224.70—$620.0036.90%$14.80$23.40—0
0—$201.10$208.40—$640.0036.64%$18.70$27.60—0
0—$186.30$193.80—$660.0036.67%$24.10$32.40—0
10$83.50$89.6035.66%$835.00—————
0—$58.40$64.0034.92%$900.00—$133.40$140.00—0
0—$51.50$59.1034.96%$920.00—$146.70$154.00—0
0—$45.50$52.6034.65%$940.00—$161.60$168.00—0
0—$40.10$47.4034.52%$960.00—$175.60$183.80—0
0—$35.40$43.3034.57%$980.00—$191.30$199.00—0
0—$31.00$38.1034.26%$1,000.00—$207.50$215.50—0
0—$27.00$34.1034.11%$1,020.00—$224.60$232.00—0
0—$24.00$32.0034.49%$1,040.00—$241.20$249.30—0
0—$21.00$29.1034.53%$1,060.00—$259.00$267.00—0
0—$18.00$26.0034.35%$1,080.00—$277.20$285.00—0
0—$16.00$23.4034.42%$1,100.00—$295.90$303.40—0
0—$14.00$22.0034.72%$1,120.00—$314.30$322.40—0

Forward $822.32. The 25-delta put carries +2.17 volatility points over the 25-delta call.

2027-06-17(267 days)ATM 34.85%±246.87skew +1.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$220.80$228.00—$620.0036.42%$16.00$24.80120
01$213.00$220.30—$630.0036.29%$18.00$26.8030
08$198.00$205.40—$650.0036.30%$23.00$31.5030
05$191.00$198.10—$660.0036.08%$25.00$34.00120
03$177.00$184.00—$680.0036.00%$31.00$39.20280
04$163.00$170.70—$700.0035.81%$36.80$45.4050
04$150.00$158.00—$720.0035.58%$43.00$52.20230
06$137.80$146.00—$740.0035.44%$50.20$59.7030
08$126.00$134.10—$760.0035.39%$58.40$67.90400
06$114.90$123.80—$780.0035.21%$67.40$76.00270
067$105.00$112.50—$800.0035.12%$77.00$85.2090
09$95.30$104.00—$820.0035.23%$87.30$96.0070
05$86.50$95.0035.07%$840.00—$98.50$106.00130
014$78.30$86.4034.88%$860.00—$110.30$118.0070
08$70.60$79.0034.79%$880.00—————
029$63.60$72.0034.70%$900.00—$135.30$143.0050
02$57.10$65.4034.57%$920.00—————
017$45.80$55.0034.61%$960.00—————
015$40.90$50.0034.55%$980.00—————
313$36.50$45.2034.46%$1,000.00—————
06$32.40$41.8034.56%$1,020.00—————

Forward $828.26. The 25-delta put carries +1.25 volatility points over the 25-delta call.

2027-09-17(359 days)ATM 34.92%±290.31skew +1.67
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$580.0038.31%$18.50$25.8002
—————$600.0037.45%$20.10$30.0030
—————$610.0037.27%$22.10$32.0040
—————$630.0037.22%$27.00$37.0010
—————$650.0036.96%$32.10$42.00530
—————$660.0036.52%$34.10$44.0010
—————$680.0036.38%$40.10$50.00200
—————$700.0036.22%$47.10$56.00210
—————$720.0036.04%$54.00$63.00160
—————$740.0035.89%$61.20$71.0020
01$145.00$155.00—$760.0035.67%$69.00$79.0010
—————$780.0035.52%$78.30$87.0040
04$115.00$124.00—$820.0035.39%$97.10$107.0040
03$106.00$115.0035.21%$840.00—————
015$82.00$92.0034.86%$900.00—————
04$75.00$85.0034.71%$920.00—————
030$72.40$79.0035.28%$940.00—$171.00$180.0040
04$58.00$68.0034.72%$980.00—————
02$53.00$63.0034.69%$1,000.00—————
01$36.00$46.0034.43%$1,080.00—————
01$33.00$43.0034.55%$1,100.00—————

Forward $838.23. The 25-delta put carries +1.67 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.