Options Skew Analytics

TPL option chain

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

Data as of 9 November 2026 (end of day)

2026-11-20(11 days)ATM 52.09%±25.22skew +2.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
08$36.10$41.00—$240.00—————
10$26.80$32.50—$250.0054.39%$1.25$1.801434
—————$260.0054.54%$2.80$4.00412
135$14.30$16.10—$270.0053.28%$5.50$7.101261
1228$8.70$10.3052.09%$280.00—$9.70$11.60401
618$5.30$6.0052.24%$290.00—$15.90$17.90352
40133$2.70$3.6052.50%$300.00—$23.40$25.1024514
658$1.40$2.0053.25%$310.00—$31.80$35.701027
—————$320.00—$40.40$45.403071
—————$330.00—$50.20$55.40981
—————$340.00—$59.30$65.301711
—————$350.00—$69.30$75.10860
—————$360.00—$79.50$85.10130
—————$370.00—$89.80$95.10330

Forward $278.85. The 25-delta put carries +2.04 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 48.13%±43.81skew +1.49
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$250.0049.25%$5.20$7.501661
—————$260.0048.63%$8.40$10.30275
15$20.40$23.60—$270.0047.87%$12.20$14.105410
214$15.20$18.2048.22%$280.00—$17.00$19.50290
215$11.00$13.6047.35%$290.00—$22.80$25.306031
318$8.40$9.8047.50%$300.00—$29.30$31.906111
97$5.50$7.8047.76%$310.00—$36.30$39.2092
314$4.20$6.0049.17%$320.00—$44.10$49.40203
—————$330.00—$53.30$57.80230
—————$340.00—$61.60$66.90100
—————$350.00—$70.90$76.30452
—————$360.00—$80.30$85.80150
—————$370.00—$90.00$95.6040
—————$380.00—$100.20$105.3010
—————$410.00—$127.50$135.3010
—————$430.00—$147.50$155.6080
—————$470.00—$188.90$195.1030
—————$490.00—$207.00$215.6020
—————$500.00—$217.50$225.6020

Forward $278.44. The 25-delta put carries +1.49 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 45.56%±54.62skew +1.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$101.00$109.40—$175.00—————
03$86.90$92.80—$190.00—————
04$82.40$88.10—$195.00—————
05$77.90$82.70—$200.00—————
023$51.00$56.60—$230.00—————
08$43.10$49.10—$240.0047.35%$5.60$7.90370
01$35.40$41.80—$250.0047.93%$8.20$11.503010
015$29.90$35.00—$260.0047.56%$11.60$15.00140
01$23.90$28.40—$270.0047.75%$15.90$19.50110
330$20.10$23.2045.88%$280.00—$20.80$22.9024427
816$15.80$18.6045.37%$290.00—$26.30$30.10422
61,149$12.20$14.9045.12%$300.00—$32.80$38.001,9382
6551$9.40$12.8046.20%$310.00—$39.10$44.70290
740$7.70$9.7046.23%$320.00—$47.00$52.602261
052$5.40$8.5046.78%$330.00—$55.60$59.20450
053$4.10$6.8047.03%$340.00—$63.20$68.90520
065$3.40$5.5047.94%$350.00—$72.60$77.701,6315
—————$360.00—$82.40$86.201230
—————$370.00—$90.00$96.30270
—————$380.00—$100.10$105.802800
—————$390.00—$109.90$115.40130

Forward $279.80. The 25-delta put carries +1.15 volatility points over the 25-delta call.

2027-04-16(158 days)ATM 47.58%±88.06skew +3.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
013$82.80$88.30—$200.00—————
01$74.80$79.70—$210.00—————
33$67.30$72.20—$220.0047.12%$7.10$11.2041
01$60.10$65.20—$230.0046.72%$10.20$13.30250
01$53.50$58.60—$240.0047.81%$13.10$18.20191
03$46.80$52.20—$250.0047.38%$16.90$21.50782
09$41.10$47.00—$260.0048.22%$21.40$26.7015310
05$35.70$42.00—$270.0046.87%$25.90$29.9019510
45$31.80$37.00—$280.0046.83%$31.30$34.907931
07$28.60$33.0047.59%$290.00—$36.50$41.00151
311,401$26.10$28.0047.55%$300.00—$41.60$48.00201
3215$22.40$24.5047.18%$310.00—$48.90$54.00150
0459$19.10$22.1047.34%$320.00—$55.60$61.00280
06$15.10$20.0046.72%$330.00—$62.40$68.00300
09$12.80$17.2046.36%$340.00—$70.40$76.00231
0455$10.30$13.3044.43%$350.00—$78.40$83.70235
122$9.10$11.5044.78%$360.00—$87.00$90.3040
131$7.70$9.7044.57%$370.00—$94.80$100.00160
140$6.40$8.4044.52%$380.00—$102.70$109.001090
—————$390.00—$112.70$118.0050
—————$400.00—$119.90$127.4020

Forward $281.32. 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.