Options Skew Analytics

TGT 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 42.23%±7.31skew +1.83
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
30$23.45$26.10—$142.00—————
21$22.45$24.85—$143.00—————
143$21.45$23.75—$144.0057.67%$0.02$0.052749
9212$20.75$22.85—$145.00—————
429$19.65$21.80—$146.00—————
5610$18.70$20.95—$147.00—————
24526$17.75$19.70—$148.00—————
1,436173$16.85$18.80—$149.0047.34%$0.02$0.0843028
4,305588$15.70$18.25—$150.00—————
1,177150$13.20$15.55—$152.50—————
4,513617$11.15$12.40—$155.0044.89%$0.27$0.31317802
1,178250$8.35$9.30—$157.5044.28%$0.55$0.58109524
232611$6.40$6.55—$160.0043.58%$1.00$1.041272,813
425913$4.50$4.60—$162.5042.98%$1.69$1.77291,621
3,4212,980$3.05$3.15—$165.0042.30%$2.71$2.7721,112
1,951230$1.96$1.9942.04%$167.50—$4.10$4.200123
1,128739$1.16$1.1841.75%$170.00—$5.75$5.90129
3,339139$0.63$0.6541.43%$172.50—$7.70$7.90010
16099$0.29$0.3340.72%$175.00—$9.65$10.6002
32420$0.12$0.1640.36%$177.50—$11.10$12.90057
—————$180.00—$13.40$15.75051

Forward $165.36. The 25-delta put carries +1.83 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 66.81%±19.20skew +3.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
010$22.00$24.45—$144.0069.48%$1.10$1.1924338
15165$21.30$23.25—$145.0069.25%$1.23$1.32976223
041$19.75$22.30—$146.0069.24%$1.39$1.4711623
214$18.90$21.45—$147.0069.17%$1.55$1.646212
5518$18.05$20.85—$148.0069.04%$1.72$1.823126
1863$17.40$19.80—$149.0068.92%$1.91$2.018418
461,490$17.05$17.90—$150.0068.86%$2.12$2.22793117
30225$15.60$15.80—$152.5068.52%$2.70$2.8025759
482,624$13.80$14.00—$155.0067.79%$3.35$3.451,418233
18428$12.15$12.30—$157.5067.95%$4.20$4.3022272
3812,036$10.55$10.75—$160.0067.63%$5.10$5.25956422
64199$9.15$9.30—$162.5067.75%$6.20$6.357865
2602,080$7.85$7.95—$165.0066.94%$7.35$7.45569289
56124$6.65$6.8066.74%$167.50—$8.70$8.802288
1,0973,856$5.60$5.7066.30%$170.00—$10.10$10.3021484
45245$4.65$4.7565.87%$172.50—$11.65$11.85151
93700$3.85$3.9565.74%$175.00—$13.35$13.503428
8462$3.15$3.2065.26%$177.50—$15.15$15.3094
1,3831,642$2.53$2.5864.78%$180.00—$17.00$17.20331
294—$2.04$2.0864.65%$182.50—$19.00$19.20—4
46549$1.59$1.6564.16%$185.00—$19.55$22.3530

Forward $165.50. The 25-delta put carries +3.00 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 56.82%±20.91skew +2.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
573$21.00$23.70—$145.0058.10%$1.41$1.709310
0—$20.40$22.80—$146.0058.89%$1.49$2.10—3
0—$19.35$22.10—$147.0058.34%$1.68$2.19—9
1—$18.60$21.00—$148.0058.95%$1.89$2.50—8
1—$17.70$20.20—$149.0059.00%$2.09$2.75—2
0145$16.95$19.65—$150.0057.26%$2.26$2.696833
0—$15.35$17.45—$152.5058.26%$2.76$3.70—1
566$14.05$15.65—$155.0056.33%$3.40$4.105252
1—$11.95$13.95—$157.5057.07%$4.15$5.25—1
2271$10.95$11.50—$160.0056.69%$5.30$5.95106
2—$9.10$10.55—$162.5056.19%$6.15$7.15—1
1687,185$8.45$8.80—$165.0056.61%$7.65$8.2068290
13—$7.15$7.8556.84%$167.50—$8.50$9.60—0
19648$6.10$6.5555.93%$170.00—$10.45$10.955102
55—$5.15$5.7056.12%$172.50—$11.40$12.75—0
1393,733$4.30$4.7055.36%$175.00—————
51—$3.45$4.2555.86%$177.50—$14.45$16.85—0
893$2.98$3.3055.16%$180.00—————
1—$2.40$2.9355.69%$182.50—$18.00$20.25—0
2562$1.91$2.2254.33%$185.00—————
232$1.26$1.5854.96%$190.00—————

Forward $165.70. The 25-delta put carries +2.58 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 49.98%±21.70skew +2.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
05$30.45$33.30—$135.00—————
02$25.75$28.55—$140.0052.51%$0.91$1.267610
06$21.40$24.15—$145.0051.62%$1.60$1.89443
067$17.60$20.00—$150.0050.45%$2.41$2.90732
1123$14.35$16.15—$155.0050.49%$3.80$4.352634
1658$11.25$12.95—$160.0050.48%$5.65$6.202210
0129$8.70$9.65—$165.0050.56%$8.00$8.505231
140158$6.55$6.8549.09%$170.00—$10.80$11.250102
1336$4.60$5.0548.51%$175.00—————
846$3.20$3.6048.20%$180.00—————
55$2.24$2.4848.15%$185.00—————
8912$1.55$1.6948.28%$190.00—————

Forward $165.93. The 25-delta put carries +2.29 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 47.26%±23.22skew +4.00
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
10$30.65$33.45—$135.00—————
—————$140.0049.92%$1.12$1.66786
—————$145.0049.95%$1.83$2.653910
33$18.05$19.75—$150.0048.84%$2.75$3.75210
010$14.85$16.25—$155.0046.65%$4.10$4.70110
07$11.75$13.20—$160.0046.86%$5.85$6.8022
229$9.20$10.30—$165.0047.62%$8.35$9.25021
43$6.80$7.9546.83%$170.00—————
2039$5.05$5.9546.50%$175.00—————
53$3.65$4.1545.56%$180.00—$17.40$18.7501
1917$2.34$3.0544.85%$185.00—————

Forward $165.95. The 25-delta put carries +4.00 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 44.47%±24.12skew +2.32
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
8,5801,658$60.45$62.50—$105.00—————
8,5821,568$55.70$57.85—$110.00—————
4,290688$50.40$53.05—$115.00—————
28,6008,867$45.40$47.60—$120.00—————
5,157650$40.55$42.55—$125.0050.02%$0.33$0.468971
4951,863$36.05$37.95—$130.0048.51%$0.54$0.701,0396
4599$31.05$33.25—$135.0047.20%$0.88$1.051,13851
861,453$26.55$28.95—$140.0045.93%$1.28$1.651,11251
61,061$22.80$24.80—$145.0046.06%$2.27$2.43987144
121,840$18.90$20.60—$150.0045.47%$3.35$3.5599598
301,639$15.60$16.50—$155.0044.80%$4.65$5.103,82430
972,058$12.45$13.40—$160.0044.02%$6.30$7.0036336
221926$9.85$10.25—$165.0044.63%$8.90$9.35236115
194768$7.60$7.9044.25%$170.00—$11.05$12.852846
93662$5.60$6.0543.77%$175.00—$14.00$16.001940
981,919$4.15$4.5043.58%$180.00—$17.45$18.70231
1642,978$2.91$3.3043.15%$185.00—$21.15$23.1010
591,870$2.11$2.3743.18%$190.00—$25.20$27.60100
21394$1.49$1.8343.78%$195.00—————
1596$0.95$1.2743.21%$200.00—$33.90$36.4520
1122,069$0.45$0.6043.32%$210.00—$43.35$45.9010

Forward $165.93. The 25-delta put carries +2.32 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 38.80%±27.71skew +1.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
21,575$55.40$57.40—$110.00—————
17985$50.85$53.10—$115.00—————
31,574$45.65$47.60—$120.0045.46%$0.45$0.583,92815
135,547$41.00$43.95—$125.0043.22%$0.56$0.812,06776
1093,632$37.10$37.95—$130.0042.28%$0.96$1.102,34978
71,038$32.25$34.40—$135.0042.15%$1.43$1.791,04681
75,045$28.15$30.20—$140.0040.87%$2.13$2.321,190204
211,361$23.55$25.85—$145.0040.25%$3.00$3.3078789
224,040$20.45$21.65—$150.0039.68%$4.15$4.551,11539
812,427$17.05$18.80—$155.0039.71%$5.80$6.201,43723
663,641$14.25$14.95—$160.0039.54%$7.75$8.1577155
1561,490$11.60$12.00—$165.0038.99%$9.80$10.50391733
1222,581$9.25$9.7038.75%$170.00—$12.20$13.201431
59812$7.25$7.7038.45%$175.00—$15.05$16.402510
1422,437$5.70$6.0038.33%$180.00—$18.50$19.90416
461,404$4.30$4.6538.04%$185.00—$21.90$24.2090
46706$3.25$3.5537.91%$190.00—$25.90$28.15100
39353$2.42$2.6937.82%$195.00—$29.95$32.50100
2101,275$1.76$2.0437.75%$200.00—$34.15$36.90130
1492,802$0.93$1.1537.84%$210.00—————
631,339$0.47$0.6237.84%$220.00—$53.25$55.8001

Forward $166.66. The 25-delta put carries +1.77 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 38.99%±38.77skew +1.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
163$56.20$58.60—$110.00—————
066$51.50$53.95—$115.0044.15%$1.06$1.526561
0176$47.00$49.60—$120.0043.75%$1.43$2.182821
0115$42.60$45.20—$125.0042.06%$1.97$2.498322
9168$38.95$40.25—$130.0042.72%$2.60$3.851990
5360$34.85$35.80—$135.0040.83%$3.50$4.205711
4285$30.45$32.90—$140.0041.12%$4.60$5.755811
6170$27.25$29.25—$145.0040.07%$5.85$6.853911
18267$23.65$25.75—$150.0039.42%$7.55$8.152213
3304$20.65$22.50—$155.0040.09%$9.20$10.901858
161,115$18.05$18.90—$160.0039.92%$11.25$13.202084
40199$15.50$16.25—$165.0038.85%$13.60$15.0015730
12199$13.50$13.9538.95%$170.00—$16.15$18.0583
236447$11.25$12.4539.14%$175.00—$19.00$21.00250
30448$9.30$10.4538.47%$180.00—$22.05$24.05340
33186$8.00$8.6038.26%$185.00—$25.50$27.401314
0237$6.50$7.5538.34%$190.00—————
1073$5.60$6.1038.18%$195.00—————
189188$4.75$5.3038.62%$200.00—$36.60$38.95260
1177$2.87$3.6037.62%$210.00—$45.10$47.7050
5106$1.96$2.4637.74%$220.00—$54.35$56.4020

Forward $166.60. The 25-delta put carries +1.46 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.