Options Skew Analytics

STZ option chain

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

Data as of 23 September 2026 (end of day)

2026-10-02(9 days)ATM 27.51%±5.03skew +0.47
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$112.0030.38%$0.50$0.7570
—————$113.0029.70%$0.70$0.9545
01$3.30$3.80—$114.0029.77%$1.00$1.2555
047$2.70$3.20—$115.0027.04%$1.10$1.5067211
30$2.05$2.55—$116.0028.05%$1.60$2.003117
8977$1.55$1.9527.23%$117.00—$2.10$2.501675
17$1.20$1.5027.41%$118.00—$2.70$3.10275
134$0.90$1.2027.99%$119.00—$3.30$3.7072
322$0.65$1.0529.24%$120.00—$3.90$4.501962
132$0.50$0.6528.27%$121.00—$4.80$5.70301
—————$122.00—$5.40$6.5031517
—————$123.00—$6.40$7.701646
—————$124.00—$7.40$8.30225
—————$125.00—$8.30$9.40531
—————$126.00—$9.40$10.701010
—————$127.00—$10.00$11.90130
—————$128.00—$11.10$12.7040
—————$129.00—$11.30$13.5040
—————$130.00—$12.70$14.4010
—————$131.00—$13.30$15.8020

Forward $116.50. The 25-delta put carries +0.47 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 40.53%±9.90skew +3.19
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$105.0044.81%$0.60$0.754311
—————$107.0043.50%$0.75$1.1002
—————$110.0044.13%$1.35$1.95152
—————$112.0043.61%$1.85$2.6070
—————$113.0042.10%$2.20$2.7012
—————$114.0043.53%$2.55$3.4060
10$4.60$5.30—$115.0041.33%$3.00$3.4012626
50$4.00$4.50—$116.0040.62%$3.30$3.90256
15$3.50$4.1040.53%$117.00—$3.60$4.60810
32$3.00$3.7040.54%$118.00—$4.40$5.30280
013$2.60$3.3040.65%$119.00—$4.80$5.90241
765$2.25$2.8540.37%$120.00—$5.60$6.50526
03$1.95$2.5540.77%$121.00—$6.20$7.4070
217$1.65$2.2540.80%$122.00—$7.00$7.8030016
12$1.45$1.9541.05%$123.00—$7.40$8.601405
33$1.20$1.7040.94%$124.00—$8.50$9.70321
—————$125.00—$9.30$10.501240
—————$126.00—$9.00$11.7040
98$0.75$1.1541.90%$127.00—$9.80$12.20160
111$0.65$1.0542.68%$128.00—$10.70$13.4070
—————$129.00—$11.60$14.00110

Forward $116.70. The 25-delta put carries +3.19 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 36.88%±10.79skew +0.82
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$107.0037.11%$0.85$1.15012
—————$108.0038.91%$1.10$1.6001
—————$109.0038.97%$1.40$1.80250
018$7.90$8.70—$110.0037.89%$1.65$1.9048616
—————$111.0038.38%$1.90$2.3562
—————$112.0038.02%$2.20$2.6581
—————$113.0037.13%$2.40$3.0011
—————$114.0037.33%$2.75$3.5030
02$4.60$5.50—$115.0037.63%$3.30$3.904058
—————$116.0036.53%$3.80$4.10112
285$3.90$4.3036.84%$117.00—$4.10$4.901410
517$3.50$3.9037.25%$118.00—$4.70$5.6064
06$3.00$3.7037.79%$119.00—$5.30$6.1090
6109$2.70$3.2037.60%$120.00—$5.90$6.701,10758
16$2.40$2.9038.01%$121.00—$6.60$7.40012
210$1.95$2.4536.74%$122.00—————
—————$123.00—$8.00$8.80010
01$1.55$2.0037.84%$124.00—————
0320$1.35$1.6037.07%$125.00—$9.50$10.405206
052$1.15$1.6538.52%$126.00—————
03$1.00$1.2037.12%$127.00—————

Forward $116.60. The 25-delta put carries +0.82 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 33.11%±15.34skew +0.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
25$31.00$32.70—$85.00—————
—————$95.0036.51%$0.45$0.70290
011$16.80$18.50—$100.0034.23%$0.80$1.20642
—————$105.0033.59%$1.60$2.20861
117$9.30$10.00—$110.0032.76%$2.95$3.601864
28$6.30$7.10—$115.0033.32%$5.20$5.8042516
420$4.00$4.8032.71%$120.00—$7.90$8.5019315
048$2.40$3.1032.35%$125.00—$11.20$11.9014644
59299$1.55$2.0033.14%$130.00—$15.00$16.103780
2297$0.70$1.1531.89%$135.00—$19.40$20.502862
5181$0.45$0.6532.46%$140.00—$23.00$25.60130
3745$0.25$0.4033.04%$145.00—$27.80$30.60330
—————$150.00—$32.80$34.80220
—————$155.00—$37.60$40.5010
—————$160.00—$43.00$45.10250

Forward $116.21. The 25-delta put carries +0.45 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 31.13%±17.60skew +0.42
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$50.20$53.10—$65.00—————
04$35.40$37.80—$80.00—————
05$31.20$33.30—$85.00—————
03$26.10$28.60—$90.0035.26%$0.45$0.5543165
03$21.40$24.00—$95.00—————
016$17.10$19.60—$100.0032.92%$1.25$1.85680
014$13.40$14.70—$105.0032.21%$2.40$2.804118
122$10.20$11.40—$110.0031.98%$4.00$4.4021028
253$7.50$8.10—$115.0031.80%$6.10$6.6037914
2126$5.00$5.7030.73%$120.00—$8.70$9.5035824
1123$3.60$4.1031.63%$125.00—$11.40$13.303710
2212$2.40$2.8531.79%$130.00—$15.70$16.901,2812
2116$1.50$1.7531.10%$135.00—$19.40$21.00740
0145$0.90$1.2531.51%$140.00—$23.90$25.503920
—————$145.00—$28.00$30.101690
—————$150.00—$32.80$35.2053211
—————$155.00—$37.60$40.00180
—————$160.00—$42.60$45.10270
—————$165.00—$47.80$50.001,0900
—————$175.00—$57.40$59.9010

Forward $116.46. The 25-delta put carries +0.42 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 32.40%±21.18skew +1.75
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
09$45.30$48.20—$70.00—————
021$40.40$43.40—$75.00—————
02$35.80$38.40—$80.00—————
016$31.50$33.70—$85.00—————
011$26.70$29.20—$90.0036.07%$0.80$1.05711
08$22.40$24.90—$95.0035.23%$1.35$1.702323
0120$18.30$20.80—$100.0035.03%$2.35$2.651752
020$14.80$16.50—$105.0033.85%$3.50$3.801924
1582$11.70$12.70—$110.0033.05%$5.00$5.502089
2144$8.90$9.90—$115.0032.92%$7.30$7.603368
12184$6.70$7.3032.30%$120.00—$9.70$10.401,156917
1220$4.90$5.4032.10%$125.00—$12.70$13.201863
2295$3.60$4.1032.57%$130.00—$15.80$17.101,1690
3377$2.55$2.8032.11%$135.00—$20.40$21.501,2307
1310$1.70$1.9531.79%$140.00—$24.30$25.808731
—————$145.00—$28.80$30.901,0450
—————$150.00—$33.30$35.501,0790
—————$155.00—$37.70$40.40380
—————$160.00—$42.60$45.001450
—————$165.00—$47.50$49.8080410
—————$170.00—$52.50$54.903210

Forward $116.98. The 25-delta put carries +1.75 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 31.78%±25.95skew +1.99
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$45.50$48.40—$70.00—————
010$36.30$39.00—$80.00—————
—————$90.0034.68%$1.55$1.80180
—————$95.0034.00%$2.30$2.70410
012$20.00$21.50—$100.0033.37%$3.40$3.80753
011$16.20$18.10—$105.0032.89%$4.80$5.308213
15$13.20$14.80—$110.0032.59%$6.70$7.101194
05$10.80$11.70—$115.0032.07%$8.80$9.30741
3222$8.70$9.2031.80%$120.00—$11.40$11.902201
8230$6.60$7.1031.02%$125.00—$14.00$15.301150
1170$5.10$5.5030.92%$130.00—$17.50$18.503760
2133$3.90$4.3031.01%$135.00—$20.80$22.60455
3169$2.90$3.3030.91%$140.00—$25.20$26.503140
067$2.05$2.5530.73%$145.00—$28.90$31.20590
1638$1.60$1.9531.05%$150.00—$33.50$35.70710
0100$1.00$1.4030.28%$155.00—$38.10$40.401260
1153$0.80$1.1531.06%$160.00—$43.20$45.10100
—————$165.00—$47.70$50.10540
—————$170.00—$52.60$54.9080
—————$175.00—$57.40$60.4010
1311,853$0.15$0.2032.02%$190.00—————

Forward $117.25. The 25-delta put carries +1.99 volatility points over the 25-delta call.

2027-04-16(205 days)ATM 31.92%±28.19skew +1.80
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$49.90$53.90—$65.00—————
01$46.00$48.60—$70.00—————
—————$85.0036.98%$1.35$1.8060
—————$90.0035.02%$1.80$2.3520
—————$95.0033.52%$2.30$3.3020
01$20.50$22.50—$100.0034.14%$4.00$4.50123
—————$105.0032.93%$5.20$5.9090
01$14.30$15.90—$110.0032.26%$6.70$7.9080
—————$115.0032.71%$9.40$10.10122
216$9.60$10.5031.96%$120.00—$11.60$12.70230
05$7.70$8.5031.82%$125.00—$14.50$15.80240
08$5.90$6.8031.35%$130.00—$17.80$19.70121
04$4.50$5.5031.24%$135.00—$21.30$23.20140
034$3.50$4.3031.13%$140.00—$25.70$27.40400
035$2.50$3.4030.78%$145.00—$29.30$31.6070
111$1.80$2.7030.67%$150.00—————
176$1.60$2.1531.45%$155.00—————
—————$175.00—$58.00$60.5030
—————$180.00—$62.40$65.4040

Forward $117.85. The 25-delta put carries +1.80 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.