Options Skew Analytics

SPG option chain

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

Data as of 9 November 2026 (end of day)

2027-01-15(67 days)ATM 20.95%±20.86skew +2.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$122.00$125.10—$110.00—————
03$112.60$115.10—$120.00—————
01$102.60$105.30—$130.00—————
01$87.40$90.20—$145.00—————
01$82.10$85.20—$150.00—————
036$72.20$75.30—$160.00—————
035$67.20$70.40—$165.00—————
069$63.10$65.40—$170.00—————
037$57.30$60.40—$175.0033.29%$0.20$0.303291
0320$52.40$55.50—$180.00—————
0132$47.40$50.60—$185.0029.61%$0.30$0.4546749
0208$42.50$45.50—$190.00—————
062$38.50$40.20—$195.0027.09%$0.60$0.802843
0257$32.80$35.30—$200.0025.96%$0.85$1.102751
5507$24.50$26.00—$210.0023.75%$1.75$2.004133
9459$16.20$17.30—$220.0022.06%$3.50$3.9026920
20623$8.90$10.10—$230.0021.10%$6.80$7.501146
79364$4.90$5.2020.71%$240.00—$11.80$13.80390
58391$2.20$2.3020.04%$250.00—$18.90$21.5010
9695$0.90$0.9519.98%$260.00—————

Forward $232.37. The 25-delta put carries +2.02 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 22.81%±31.70skew +3.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$97.60$100.20—$135.00—————
02$82.90$85.40—$150.00—————
05$72.80$75.50—$160.00—————
012$67.90$70.50—$165.00—————
09$62.60$65.60—$170.00—————
020$57.80$60.80—$175.00—————
0135$53.70$55.90—$180.0030.21%$0.95$1.551080
099$48.50$51.20—$185.0028.69%$1.25$1.653551
011$43.80$46.50—$190.0027.47%$1.55$1.952171
0101$39.30$41.50—$195.0027.59%$2.00$2.95391
062$35.10$37.20—$200.0026.48%$2.60$3.404252
0273$26.30$28.70—$210.0024.51%$4.20$4.80731
4318$19.70$20.90—$220.0024.11%$6.80$8.10830
12199$13.60$14.60—$230.0023.32%$10.70$11.90876
6149$8.70$9.7022.39%$240.00—$15.30$17.8001
16518$5.20$6.4022.05%$250.00—$21.80$24.4010
3150$3.00$3.6021.36%$260.00—————
1128$1.65$2.0521.16%$270.00—————
469$0.90$1.2021.32%$280.00—————

Forward $232.84. The 25-delta put carries +3.15 volatility points over the 25-delta call.

2027-04-16(158 days)ATM 22.77%±34.82skew +2.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$82.70$85.40—$150.00—————
05$72.70$75.60—$160.00—————
—————$175.0030.20%$1.05$1.6580
—————$180.0029.02%$1.25$1.95321
010$49.00$51.40—$185.0028.06%$1.55$2.3550
02$44.70$47.00—$190.0027.38%$2.00$2.90160
—————$195.0026.84%$2.50$3.7010
04$35.70$38.30—$200.0025.94%$3.10$4.40270
035$27.80$29.80—$210.0024.91%$5.00$6.6030
055$19.80$22.40—$220.0023.89%$7.70$9.6020
0120$13.80$15.90—$230.0022.87%$11.60$13.30722
2049$9.80$11.0022.68%$240.00—————
036$6.20$7.2021.93%$250.00—————
11$2.15$2.8521.27%$270.00—————

Forward $232.44. The 25-delta put carries +2.98 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 23.58%±42.60skew +2.90
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$78.30$80.50—$155.0033.55%$0.95$1.5080
01$73.50$75.60—$160.00—————
14$68.10$70.90—$165.0031.34%$1.30$2.001020
02$63.70$66.20—$170.0030.21%$1.50$2.30580
—————$175.0029.32%$1.75$2.751511
03$54.20$57.10—$180.0028.66%$2.25$3.20460
02$49.90$52.80—$185.0027.83%$2.75$3.705020
08$45.50$48.20—$190.0026.49%$3.40$3.80950
03$41.30$43.90—$195.0026.47%$4.00$5.20551
028$37.20$39.60—$200.0025.99%$4.80$6.302970
0415$29.50$32.20—$210.0025.18%$7.10$8.902320
026$22.60$25.30—$220.0023.56%$10.10$11.204950
0164$16.50$19.20—$230.0023.68%$14.00$16.50970
3331$12.90$13.9023.48%$240.00—$19.10$21.60220
189$8.90$10.2022.89%$250.00—————
447$6.10$7.1022.42%$260.00—————
017$4.00$5.1022.28%$270.00—————
064$2.65$3.4022.06%$280.00—————
116$1.10$1.5522.02%$300.00—————

Forward $232.67. The 25-delta put carries +2.90 volatility points over the 25-delta call.

2027-09-17(312 days)ATM 23.71%±51.19skew +3.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$150.0032.15%$1.20$2.0060
—————$155.0031.23%$1.45$2.2530
—————$160.0030.48%$1.75$2.60150
01$68.50$72.00—$165.0030.06%$2.10$3.2030
03$64.00$67.00—$170.0029.08%$2.50$3.50770
011$59.50$62.60—$175.0028.51%$3.00$4.1030
039$55.20$58.10—$180.0027.88%$3.60$4.70200
06$51.10$54.00—$185.0027.19%$4.10$5.50551
037$47.00$49.50—$190.0026.91%$5.10$6.40620
03$43.00$46.40—$195.00—————
023$39.00$42.60—$200.0026.03%$7.00$8.7090
024$32.00$35.50—$210.0025.32%$9.60$11.60320
0102$25.50$28.40—$220.0024.77%$12.90$15.3060
177$21.20$22.40—$230.00—————
264$16.30$17.5023.68%$240.00—$21.90$24.5020
020$12.40$13.8023.41%$250.00—$27.40$30.5010
01$9.10$10.4022.85%$260.00—————
01$6.70$7.8022.59%$270.00—————
03$4.80$6.6023.01%$280.00—————

Forward $233.46. The 25-delta put carries +3.02 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.