Options Skew Analytics

STLD option chain

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

Data as of 23 September 2026 (end of day)

2026-10-16(23 days)ATM 39.57%±23.29skew +0.52
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$62.30$66.10—$170.00—————
01$38.40$41.20—$195.00—————
01$33.00$36.50—$200.00—————
01$24.40$27.50—$210.0042.91%$1.45$2.356815
04$17.40$19.50—$220.0039.59%$3.30$3.8011511
123$11.00$12.50—$230.0040.35%$6.70$7.909839
875$6.30$7.2039.05%$240.00—$11.90$12.70200
33329$3.30$4.0039.06%$250.00—$18.50$20.20510
22385$1.45$2.2539.34%$260.00—$26.00$29.00200
2964$0.70$1.1039.87%$270.00—$35.30$38.30520

Forward $234.46. The 25-delta put carries +0.52 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 41.43%±38.90skew +2.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$97.80$101.70—$135.00—————
01$78.20$82.00—$155.00—————
01$73.30$77.20—$160.00—————
01$68.50$72.30—$165.00—————
02$63.70$67.30—$170.00—————
02$49.70$53.30—$185.00—————
07$45.30$48.70—$190.0043.61%$1.60$2.20240
027$41.10$44.40—$195.0043.85%$2.20$3.10140
05$36.80$40.20—$200.00—————
013$29.90$32.30—$210.0042.86%$5.30$6.00850
118$22.70$25.40—$220.0042.55%$8.30$9.303142
099$17.60$18.90—$230.0041.89%$12.30$13.30454
1078$12.80$14.0041.37%$240.00—$17.30$18.404454
4241$9.10$9.9040.86%$250.00—$23.60$25.004000
13148$6.20$6.8040.35%$260.00—$30.50$32.8020
77307$4.30$4.8040.79%$270.00—$37.80$41.0010
16272$2.60$3.7041.22%$280.00—$46.50$49.6020
—————$300.00—$64.80$68.5020
—————$310.00—$74.90$78.5020
—————$340.00—$104.20$108.2020
—————$350.00—$114.20$118.1020

Forward $235.52. The 25-delta put carries +2.07 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 40.72%±46.63skew +1.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$123.10$126.90—$110.00—————
06$98.60$102.20—$135.00—————
05$74.50$78.20—$160.00—————
02$69.80$73.40—$165.00—————
07$65.10$68.60—$170.00—————
03$60.50$64.20—$175.00—————
015$56.00$59.70—$180.00—————
01$51.60$55.20—$185.00—————
073$47.20$50.80—$190.0043.48%$2.80$4.2050
07$43.10$46.70—$195.0043.42%$3.50$5.4060
025$39.10$42.70—$200.0042.62%$5.00$5.70160
07$32.10$35.30—$210.0041.37%$7.30$8.10520
015$25.90$28.60—$220.0041.00%$10.50$11.701227
1664$20.70$22.20—$230.0040.42%$14.70$15.802510
079$15.90$17.3040.73%$240.00—$19.70$21.60435
022$11.90$13.2040.22%$250.00—$25.80$28.007411
2222$8.90$9.9040.04%$260.00—$31.50$34.50510
2116$6.60$7.4040.07%$270.00—$39.50$42.9070
0336$4.90$5.5040.27%$280.00—$47.70$51.00120
01,101$3.30$4.2040.18%$290.00—$56.60$59.7030
—————$300.00—$65.80$68.6070

Forward $235.91. The 25-delta put carries +1.30 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 39.55%±52.32skew +2.09
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
09$80.10$83.30—$155.00—————
089$75.70$78.50—$160.00—————
010$70.40$74.00—$165.00—————
034$66.00$69.70—$170.00—————
086$61.50$65.30—$175.00—————
0194$57.00$60.70—$180.00—————
046$53.10$56.60—$185.00—————
077$48.70$52.50—$190.0043.51%$3.80$6.30330
078$45.10$48.30—$195.0042.17%$5.40$6.10310
046$41.40$44.50—$200.0041.70%$6.50$7.20371
039$34.10$37.40—$210.0041.13%$9.30$10.00530
713$27.50$30.20—$220.0040.59%$12.70$13.602312
155$23.40$24.40—$230.0040.58%$17.00$18.303414
352$18.60$19.8039.71%$240.00—$21.80$23.10400
4132$14.60$15.5039.23%$250.00—$27.70$29.40270
0270$11.40$12.2039.19%$260.00—$34.10$36.00330
2180$8.50$9.4038.70%$270.00—$41.00$43.90220
11303$6.60$7.4039.04%$280.00—$49.00$52.1060
1433$5.10$5.8039.35%$290.00—$57.60$60.4040
9148$3.60$4.5039.10%$300.00—$66.50$69.8010
062$2.65$3.5039.23%$310.00—$75.80$78.8010

Forward $236.71. The 25-delta put carries +2.09 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 39.81%±66.10skew +3.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$82.70$86.10—$155.00—————
02$73.90$77.30—$165.00—————
010$69.60$73.00—$170.00—————
02$65.40$68.90—$175.0044.23%$4.00$6.10390
02$61.30$64.80—$180.0043.46%$4.80$6.8060
01$57.40$60.90—$185.0042.99%$6.40$7.1020
035$53.40$57.00—$190.0042.62%$7.50$8.20110
03$49.70$53.40—$195.0042.10%$8.60$9.4010
04$46.50$49.80—$200.00—————
044$40.00$43.20—$210.00—————
012$34.00$37.00—$220.0040.92%$16.70$18.1060
024$29.40$30.50—$230.0040.83%$21.20$22.80240
010$24.60$26.1040.21%$240.00—$26.20$27.50100
0607$20.40$21.7039.72%$250.00—$32.00$33.405060
022$16.80$18.1039.49%$260.00—$38.30$39.70270
012$13.80$14.7039.08%$270.00—————
06$11.00$12.1038.74%$280.00—————
012$9.20$10.0038.99%$290.00—————
011$7.50$8.3039.10%$300.00—————
09$5.90$6.7038.80%$310.00—$77.00$80.4020
011$4.70$5.6038.92%$320.00—————

Forward $238.47. The 25-delta put carries +3.00 volatility points over the 25-delta call.

2027-06-17(267 days)ATM 39.69%±81.84skew +2.89
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
08$81.90$85.40—$160.0044.82%$4.70$5.8070
07$77.80$81.40—$165.0044.37%$5.40$6.7060
07$74.40$77.40—$170.0043.98%$6.30$7.6030
021$70.20$73.50—$175.00—————
019$66.30$69.80—$180.00—————
05$62.50$66.10—$185.00—————
01$59.00$62.60—$190.00—————
08$55.90$59.10—$195.00—————
438$53.10$55.80—$200.0041.56%$13.30$15.2020
036$46.90$49.50—$210.0040.78%$16.50$18.5020
027$41.00$43.70—$220.0040.71%$20.30$23.1060
010$35.70$38.40—$230.0040.25%$24.60$27.6050
066$31.00$33.70—$240.0040.22%$30.20$32.40390
015$26.70$29.5039.91%$250.00—$36.20$37.80134
059$22.80$25.6039.51%$260.00—$41.50$44.2080
024$19.60$22.0039.21%$270.00—$48.50$50.90100
06$16.80$19.4039.32%$280.00—$55.50$58.2030
012$14.20$16.6038.99%$290.00—————
01,021$12.00$14.5038.96%$300.00—————
015$10.00$12.3038.60%$310.00—$79.50$82.0060
029$8.40$10.8038.67%$320.00—————

Forward $241.08. The 25-delta put carries +2.89 volatility points over the 25-delta call.

2027-09-17(359 days)ATM 39.71%±96.01
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$109.60$114.00—$130.0047.21%$3.00$3.5010
06$106.00$109.50—$135.00—————
—————$145.0045.23%$4.20$5.5010
01$89.50$93.00—$155.00—————
01$85.50$89.50—$160.00—————
02$81.50$85.50—$165.00—————
05$77.70$82.00—$170.0043.21%$8.40$10.0070
09$58.00$61.50—$200.00—————
01$46.50$50.00—$220.00—————
05$28.70$32.2039.78%$260.00—————
01$25.40$28.6039.59%$270.00—————
01$13.00$15.6038.70%$320.00—————
02$11.10$13.9038.52%$330.00—————
01$7.30$10.1038.70%$360.00—————

Forward $243.80. Not enough surviving quotes on both wings to measure the skew here.

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.