Options Skew Analytics

SPG option chain

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

Data as of 23 September 2026 (end of day)

2026-11-20(58 days)ATM 22.75%±18.65skew +1.88
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$175.0027.81%$0.60$0.75121
—————$180.0026.72%$0.95$1.1035
01$21.30$24.10—$185.0025.98%$1.40$1.80282
—————$190.0025.35%$2.15$2.75272
2130$13.90$15.50—$195.0023.85%$3.20$3.60156
320$10.40$12.30—$200.0023.19%$4.80$5.1010710
9147$5.20$5.7022.55%$210.00—$9.50$10.00971
121536$2.15$2.5521.98%$220.00—$15.10$17.8030
2896$0.80$1.0522.10%$230.00—————

Forward $205.67. The 25-delta put carries +1.88 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 22.64%±22.53skew +2.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$59.90$62.80—$145.00—————
70$50.30$52.20—$155.00—————
01$45.30$47.50—$160.0029.37%$0.35$0.50550
017$40.50$43.20—$165.00—————
2340$36.20$38.10—$170.0027.51%$0.80$1.00460
19$31.50$33.20—$175.0026.67%$1.15$1.45552
011$26.40$28.60—$180.0025.96%$1.70$2.0548251
023$22.20$24.20—$185.0025.04%$2.40$2.805751
061$18.10$20.10—$190.0024.26%$3.40$3.801621
0110$14.50$16.40—$195.0023.91%$4.80$5.301332
0150$11.30$12.80—$200.0023.35%$6.60$7.0019825
4145$6.40$6.9022.40%$210.00—$10.90$12.303321
25369$3.10$3.9022.24%$220.00—$17.00$19.402260
11622$1.35$1.7021.47%$230.00—$25.10$27.90750
0970$0.60$0.9522.34%$240.00—$35.00$36.8030
—————$250.00—$43.70$47.8010

Forward $205.00. The 25-delta put carries +2.02 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 22.04%±25.24skew +1.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$93.70$96.60—$110.00—————
03$83.70$87.50—$120.00—————
01$74.60$77.70—$130.00—————
01$59.90$62.90—$145.0032.31%$0.25$0.40780
—————$155.0030.16%$0.45$0.752230
036$45.90$47.70—$160.0029.04%$0.60$1.003280
035$41.20$42.90—$165.0027.52%$0.85$1.153,1550
077$36.50$37.50—$170.0026.54%$1.20$1.502800
039$31.30$33.50—$175.0025.74%$1.65$2.053280
0322$27.50$29.00—$180.0024.65%$2.25$2.607112
0133$22.80$24.80—$185.0024.15%$3.10$3.602990
0209$18.80$20.80—$190.0023.29%$4.20$4.607640
062$15.30$17.50—$195.0022.74%$5.60$6.102400
0246$12.10$13.80—$200.0022.57%$7.50$8.1053518
13324$7.40$7.9021.81%$210.00—$11.50$13.802360
4402$4.00$4.7021.60%$220.00—$17.80$20.402260
1450$1.95$2.6521.47%$230.00—$25.60$28.401050
3355$0.90$1.1020.70%$240.00—$34.80$36.70390
0428$0.40$0.6521.32%$250.00—$43.90$46.9010

Forward $204.93. The 25-delta put carries +1.68 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 23.48%±33.60skew +3.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$69.40$72.80—$135.00—————
—————$140.0033.65%$0.65$1.001500
—————$145.0032.19%$0.80$1.151920
02$55.60$58.30—$150.0031.04%$1.00$1.402960
—————$155.0029.92%$1.25$1.701140
05$46.30$49.00—$160.0028.77%$1.55$2.052080
012$41.70$44.40—$165.0027.94%$2.00$2.55910
09$37.30$40.10—$170.0027.18%$2.55$3.201350
020$33.40$35.90—$175.0025.84%$3.20$3.60400
1136$29.30$31.10—$180.0025.71%$4.10$4.901130
0100$25.10$28.00—$185.0025.17%$5.40$5.903701
011$21.50$24.40—$190.0024.70%$6.80$7.302053
0105$18.10$20.70—$195.0023.96%$8.20$8.90391
059$15.00$18.00—$200.0023.50%$10.00$10.903704
4264$10.50$11.8023.48%$210.00—$14.60$16.60740
0199$6.50$8.0022.77%$220.00—$20.50$23.0080
0199$4.10$4.7022.06%$230.00—$27.50$30.20870
0136$2.25$3.2022.08%$240.00—————
0501$1.30$1.6521.49%$250.00—$44.50$47.9010
0133$0.70$1.0021.56%$260.00—————
0121$0.45$0.6022.00%$270.00—————

Forward $205.46. The 25-delta put carries +3.11 volatility points over the 25-delta call.

2027-04-16(205 days)ATM 23.65%±36.41skew +3.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$56.00$58.50—$150.00—————
—————$160.0028.43%$1.80$2.6590
—————$170.0026.84%$2.80$4.0010
—————$175.0026.51%$3.70$5.0020
—————$180.0025.31%$4.70$5.50120
010$25.70$28.60—$185.0025.40%$5.80$7.4010
02$22.00$25.10—$190.0025.01%$7.20$9.0090
—————$195.0024.56%$8.90$10.7010
028$11.20$13.1023.55%$210.00—————
044$7.20$8.9022.62%$220.00—$20.70$23.8010
095$4.50$5.9022.16%$230.00—————
02$2.80$3.9022.10%$240.00—————
02$1.65$2.6522.20%$250.00—————

Forward $205.45. The 25-delta put carries +3.25 volatility points over the 25-delta call.

2027-06-17(267 days)ATM 23.99%±42.28skew +3.43
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$135.0032.97%$1.00$1.65310
—————$145.0031.62%$1.70$2.4070
—————$150.0030.44%$1.90$2.85910
01$52.30$54.80—$155.0029.61%$2.30$3.4080
01$47.90$50.50—$160.0028.63%$3.00$3.701990
03$43.60$45.70—$165.0028.35%$3.60$4.801020
02$39.30$41.60—$170.0027.29%$4.40$5.30580
—————$175.0026.76%$5.40$6.3040
03$31.70$34.50—$180.0026.23%$6.50$7.50310
02$28.00$31.00—$185.0025.76%$7.80$8.90700
01$24.70$27.60—$190.0025.40%$9.40$10.50900
—————$195.0024.65%$10.60$12.4060
015$19.00$20.90—$200.0024.60%$13.20$14.20211
06$13.50$15.8024.01%$210.00—$17.50$19.402320
011$9.90$11.6023.67%$220.00—$23.10$25.504970
0209$6.90$8.2023.14%$230.00—$30.00$32.10970
0322$4.60$5.8022.80%$240.00—$37.10$39.70110
088$2.90$4.0022.42%$250.00—————
044$2.00$2.8022.57%$260.00—————
011$1.35$1.9522.69%$270.00—————
059$0.90$1.4022.92%$280.00—————

Forward $206.08. The 25-delta put carries +3.43 volatility points over the 25-delta call.

2027-09-17(359 days)ATM 24.41%±49.97skew +3.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$150.0029.99%$3.30$3.9060
—————$155.0029.22%$3.90$4.5030
—————$160.0028.94%$4.60$5.60110
01$44.90$48.00—$165.0027.90%$5.30$6.2030
04$41.00$43.60—$170.0027.37%$6.30$7.2010
011$37.00$40.00—$175.0026.89%$7.40$8.4030
039$33.50$36.40—$180.0026.35%$8.60$9.70200
01$30.00$32.80—$185.0025.97%$10.10$11.20540
037$27.30$30.20—$190.0025.64%$11.70$13.00600
03$24.30$26.70—$195.00—————
221$21.50$23.80—$200.0025.09%$15.60$17.1010
07$16.50$18.8024.57%$210.00—$20.30$21.90320
07$12.40$14.6023.99%$220.00—$25.60$27.5060
014$9.50$11.1023.74%$230.00—————
016$7.00$8.3023.39%$240.00—$38.80$42.0020
018$5.00$6.3023.20%$250.00—————
01$3.60$4.6023.00%$260.00—————
03$1.85$2.5523.01%$280.00—————

Forward $206.40. The 25-delta put carries +3.15 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.

SPG option chain | Options Skew Analytics