Options Skew Analytics

SMCI option chain

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

Data as of 9 November 2026 (end of day)

2026-11-13(4 days)ATM 96.42%±2.92skew +7.53
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
4102$4.70$5.35—$24.00115.00%$0.07$0.091,119660
1416$4.25$4.85—$24.50111.54%$0.09$0.12281178
83629$3.95$4.35—$25.00110.70%$0.14$0.162,9262,414
22741$3.35$3.95—$25.50109.10%$0.19$0.22531359
350413$3.10$3.35—$26.00105.99%$0.25$0.281,4771,760
339735$2.77$2.93—$26.50104.06%$0.32$0.38642487
5912,385$2.39$2.50—$27.00101.47%$0.43$0.472,3781,349
963958$2.02$2.15—$27.50100.51%$0.56$0.62776752
3,0301,115$1.68$1.82—$28.0099.62%$0.72$0.801,3581,397
2,5453,937$1.37$1.47—$28.5098.17%$0.91$1.003121,104
2,5891,891$1.12$1.1996.52%$29.00—$1.14$1.221,690921
3,785545$0.91$0.9596.21%$29.50—$1.37$1.49350501
6,41323,866$0.70$0.7494.37%$30.00—$1.69$1.801,2411,234
1,33115,841$0.54$0.5994.55%$30.50—$2.02$2.1825936
3,6364,068$0.40$0.4693.94%$31.00—$2.40$2.517101,323
1,2811,521$0.33$0.3595.46%$31.50—$2.75$2.9234411
5,16225,050$0.24$0.2594.00%$32.00—$3.20$3.401,15391
1,63316,288$0.19$0.2096.12%$32.50—$3.45$3.90868
2,0654,046$0.13$0.1595.46%$33.00—$4.05$4.5072612
7631,614$0.10$0.1297.29%$33.50—$4.35$4.901796
1,3022,405$0.07$0.0997.41%$34.00—$5.00$5.251,238167

Forward $28.97. The 25-delta put carries +7.53 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 86.53%±4.35skew +7.41
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
17595$5.00$5.50—$24.0097.82%$0.28$0.325,4181,563
0—$4.55$5.15—$24.5095.69%$0.33$0.39—10
332,337$4.15$4.70—$25.0095.58%$0.43$0.488,413385
11—$3.75$4.30—$25.5093.87%$0.51$0.58—25
226777$3.50$3.70—$26.0092.89%$0.63$0.694,189233
18—$3.20$3.45—$26.5092.07%$0.76$0.83—55
6262,020$2.93$2.98—$27.0090.74%$0.90$0.983,254421
170—$2.54$2.71—$27.5090.00%$1.07$1.16—123
289860$2.23$2.35—$28.0087.91%$1.26$1.312,587271
172—$1.93$2.06—$28.5087.82%$1.45$1.58—621
9531,462$1.69$1.7987.35%$29.00—$1.71$1.811,949467
551—$1.44$1.5586.23%$29.50—$1.97$2.09—257
3,2217,920$1.28$1.3487.01%$30.00—$2.26$2.366,453490
193—$1.05$1.1785.96%$30.50—$2.55$2.67—9
7523,805$0.89$0.9985.37%$31.00—$2.87$3.052,33643
232—$0.76$0.8284.80%$31.50—$3.20$3.45—4
6395,154$0.64$0.6984.62%$32.00—$3.60$3.802,79928
2501,516$0.53$0.5984.66%$32.50—$4.00$4.255078
1,4875,256$0.47$0.5085.78%$33.00—$4.25$4.702,659416
1712,758$0.40$0.4587.23%$33.50—$4.85$5.051,1411
5323,571$0.33$0.3686.40%$34.00—$5.25$5.502,11719

Forward $28.98. The 25-delta put carries +7.41 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 79.57%±5.13skew +6.44
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
110$5.15$5.85—$24.0088.87%$0.44$0.4925897
0—$4.70$5.50—$24.5087.36%$0.51$0.58—28
046$4.40$5.00—$25.0086.65%$0.61$0.691,977225
8—$4.00$4.55—$25.5085.46%$0.69$0.83—12
17184$3.75$4.05—$26.0084.32%$0.83$0.9466381
6—$3.40$3.80—$26.5083.88%$0.97$1.11—18
59125$3.10$3.35—$27.0082.89%$1.17$1.23682161
46—$2.78$3.05—$27.5080.97%$1.29$1.42—21
123359$2.55$2.67—$28.0082.05%$1.55$1.65691203
283—$2.23$2.38—$28.5080.52%$1.72$1.88—119
198204$2.02$2.10—$29.0080.24%$1.98$2.121,135374
58—$1.76$1.8879.56%$29.50—$2.27$2.40—58
331875$1.57$1.6679.52%$30.00—$2.54$2.67647182
35—$1.36$1.5079.56%$30.50—$2.82$3.05—6
159631$1.20$1.2878.69%$31.00—$3.10$3.352188
131—$1.03$1.1278.13%$31.50—$3.40$3.70—4
123659$0.89$0.9777.73%$32.00—$3.85$4.055674
27—$0.74$0.8877.77%$32.50—$4.15$4.60—5
102906$0.66$0.7577.88%$33.00—$4.45$5.004064
46—$0.56$0.6677.90%$33.50—$4.85$5.40—2
4491,002$0.46$0.5777.29%$34.00—$5.10$5.856462

Forward $29.01. The 25-delta put carries +6.44 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 78.54%±5.97skew +6.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
20$9.95$10.25—$19.0098.45%$0.10$0.1504
3698$9.00$9.30—$20.0095.69%$0.16$0.20359
10$7.95$8.45—$21.0092.62%$0.23$0.272619
10$7.10$7.50—$22.0091.01%$0.33$0.3915412
684$6.30$6.75—$23.0087.28%$0.44$0.5013658
30$5.40$6.00—$24.0086.33%$0.64$0.6812494
2644$4.70$5.10—$25.0084.04%$0.82$0.92324179
6459$4.00$4.30—$26.0083.05%$1.12$1.2044372
24162$3.40$3.70—$27.0081.90%$1.47$1.54566660
71153$2.84$3.05—$28.0080.67%$1.86$1.9616786
36070$2.36$2.48—$29.0079.66%$2.33$2.44931,597
2,328344$1.91$1.9978.25%$30.00—$2.86$3.0558330
76353$1.52$1.6578.25%$31.00—$3.35$3.65156123
317394$1.19$1.3077.11%$32.00—$4.05$4.3512815
158393$0.93$1.0176.32%$33.00—$4.80$5.104970
694385$0.72$0.8076.19%$34.00—$5.45$6.05195
144352$0.56$0.6476.53%$35.00—$6.20$6.7510546
109173$0.44$0.5076.78%$36.00—$6.85$7.80510
16572$0.33$0.4177.24%$37.00—$7.80$8.75281
2587$0.28$0.3077.64%$38.00—$8.60$9.80810
4375$0.21$0.2678.71%$39.00—$9.45$10.6570

Forward $29.04. The 25-delta put carries +6.86 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 77.18%±6.64skew +7.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
342$8.75$9.65—$20.0094.00%$0.24$0.311827
142$6.90$8.40—$22.0088.29%$0.36$0.60351
—————$23.0088.18%$0.58$0.778528
12$5.50$6.15—$24.0085.78%$0.77$0.9612217
062$4.75$5.55—$25.0082.30%$1.03$1.1084071
443$4.30$4.60—$26.0082.04%$1.26$1.53230102
720$3.50$4.00—$27.0081.69%$1.65$1.915514
3717$3.05$3.45—$28.0078.51%$2.00$2.264160
3676$2.55$2.77—$29.0076.89%$2.43$2.743725
102176$2.14$2.3577.27%$30.00—$3.00$3.40486
3054$1.76$2.0678.37%$31.00—$3.55$4.053330
31130$1.45$1.6877.65%$32.00—$4.30$4.70334
67142$1.09$1.3575.35%$33.00—$5.00$5.401392
3356$0.89$1.0574.55%$34.00—$5.55$6.10332
73246$0.72$0.8674.84%$35.00—$6.40$7.101055
101158$0.57$0.7074.86%$36.00—$7.25$7.95243
636$0.45$0.5774.97%$37.00—$8.05$8.80120
11328$0.34$0.4975.46%$38.00—$8.65$9.8060
8135$0.31$0.3776.08%$39.00—————
35356$0.25$0.3076.44%$40.00—$10.40$12.2580
1817$0.15$0.2478.49%$42.00—————

Forward $29.08. The 25-delta put carries +7.46 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 76.60%±7.29skew +6.54
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
3112$9.90$10.75—$19.0092.44%$0.22$0.281,49515
33,951$9.00$9.80—$20.0089.98%$0.32$0.355,0771,009
1308$8.15$8.95—$21.0088.07%$0.41$0.491,81032
0402$7.30$8.00—$22.0086.03%$0.57$0.613,220144
3561$6.50$7.15—$23.0083.75%$0.72$0.792,455168
55246$5.75$6.30—$24.0082.31%$0.93$1.023,418173
1821,109$5.20$5.40—$25.0081.13%$1.19$1.307,0202,956
109500$4.50$4.85—$26.0080.67%$1.55$1.623,834488
141929$3.90$4.20—$27.0079.55%$1.87$2.045,04890
3321,919$3.40$3.60—$28.0079.08%$2.35$2.456,1033,394
1651,887$2.95$3.05—$29.0078.12%$2.83$2.934,806132
1,91510,530$2.46$2.5776.60%$30.00—$3.25$3.5016,913696
1322,369$2.10$2.1976.78%$31.00—$3.85$4.153,01116
4114,253$1.72$1.8676.07%$32.00—$4.50$4.802,7155
971,990$1.42$1.5675.64%$33.00—$5.20$5.502,533427
2232,866$1.17$1.2374.26%$34.00—$5.90$6.253,54613
1,1885,168$0.97$1.0474.60%$35.00—$6.85$7.058,55864
1362,511$0.80$0.8874.93%$36.00—$7.35$8.001,5592
1391,849$0.68$0.7475.60%$37.00—$8.55$8.802,70213
1125,495$0.55$0.6375.82%$38.00—$9.25$9.851,71417
522,224$0.46$0.5175.83%$39.00—$10.15$10.751,9210

Forward $29.12. The 25-delta put carries +6.54 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 76.36%±7.80skew +4.80
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$9.65$11.45—$19.00—————
12$8.95$10.55—$20.0088.49%$0.35$0.47416
20$7.85$9.70—$21.0086.16%$0.42$0.64925
—————$22.0085.17%$0.59$0.82300
—————$23.0082.75%$0.80$0.96142
—————$24.0083.55%$1.00$1.3660
04$5.00$6.50—$25.0079.72%$1.21$1.561914
07$4.65$5.05—$26.0079.76%$1.60$1.911227
103$3.95$4.45—$27.0077.45%$1.82$2.361938
12117$3.45$3.90—$28.0078.49%$2.40$2.80817
6539$3.00$3.40—$29.0078.18%$2.87$3.35125
18069$2.54$2.8876.53%$30.00—$3.35$3.75196
180$2.16$2.4475.70%$31.00—$3.95$4.45210
3114$1.79$2.1475.60%$32.00—$4.60$5.1560
5126$1.54$1.8475.99%$33.00—$5.30$5.8010
233$1.23$1.6876.47%$34.00—$6.10$6.5550
17238$1.03$1.2072.98%$35.00—$6.75$7.25127
062$0.83$1.1674.92%$36.00—$7.05$8.25220
160$0.64$0.9874.06%$37.00—————
144$0.61$0.8075.11%$38.00—$8.70$10.8520
—————$39.00—$9.50$11.8010

Forward $29.09. The 25-delta put carries +4.80 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 73.33%±9.19skew +6.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$19.0086.14%$0.47$0.551221
282,338$9.45$10.15—$20.0084.69%$0.64$0.6727,1764,479
06$8.60$9.35—$21.0083.74%$0.76$0.923710
14$7.90$8.60—$22.0081.40%$0.99$1.0446894
1729$7.20$7.85—$23.0079.94%$1.21$1.287,565224
48672$6.50$6.90—$24.0078.81%$1.49$1.557,005113
2342,398$5.80$6.25—$25.0078.11%$1.81$1.8915,3701,102
842,166$5.20$5.60—$26.0077.17%$2.17$2.258,415175
3541,602$4.60$5.00—$27.0076.65%$2.58$2.683,98390
1681,068$4.20$4.45—$28.0075.78%$3.00$3.1510,330148
3021,244$3.65$3.95—$29.0074.68%$3.50$3.602,667565
1,87710,093$3.20$3.3572.61%$30.00—$4.05$4.2012,142131
1931,860$2.82$3.0573.48%$31.00—$4.65$4.858,623211
1812,150$2.50$2.6372.97%$32.00—$5.25$5.459,514200
5083,382$2.18$2.3172.74%$33.00—$5.95$6.105,375177
812,840$1.89$2.0172.32%$34.00—$6.55$6.903,31232
83226,357$1.64$1.7371.86%$35.00—$7.25$7.659,61629
2573,271$1.42$1.5171.75%$36.00—$8.05$8.552,1207
1192,698$1.23$1.2771.13%$37.00—$8.85$9.353,23611
1162,862$1.05$1.1671.66%$38.00—$9.65$10.106,7736
341,667$0.92$0.9871.42%$39.00—$10.30$11.051,0151

Forward $29.25. The 25-delta put carries +6.45 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.