Options Skew Analytics

TPL 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 42.89%±36.44skew -1.07
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$94.80$103.30—$240.00—————
0307$56.40$62.00—$280.0047.87%$0.70$1.101305
0483$47.10$53.00—$290.00—————
0726$38.00$44.30—$300.0044.90%$2.30$2.901,13433
0468$29.90$36.20—$310.0044.78%$4.00$5.009015
053$24.60$27.20—$320.0043.76%$6.20$7.809610
16$17.80$20.50—$330.0043.59%$9.70$11.7018912
812$12.60$15.0042.92%$340.00—$14.30$16.301834
1338$8.30$10.7042.25%$350.00—$19.80$22.301683
78178$6.50$7.3043.87%$360.00—$26.40$29.102601
22127$4.30$5.4044.83%$370.00—$34.30$37.003090
5142$2.50$3.9044.94%$380.00—$41.80$48.00940
2219$1.60$2.5044.99%$390.00—$50.90$56.80280
—————$400.00—$60.30$66.201,3260
—————$410.00—$70.00$75.80391
—————$420.00—$80.00$85.702020
—————$430.00—$87.90$96.302020
—————$440.00—$98.20$105.501250
—————$450.00—$109.60$115.50910
—————$460.00—$119.60$125.50110
—————$470.00—$127.90$136.302520

Forward $338.50. The 25-delta put carries -1.07 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 42.11%±80.62skew +0.10
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$91.40$99.90—$250.00—————
013$83.40$91.00—$260.00—————
01$74.60$83.00—$270.0046.70%$5.80$9.50130
—————$280.0044.46%$8.10$9.70210
16$59.90$66.00—$290.0045.27%$10.50$13.50281
11,136$52.70$58.90—$300.0044.99%$14.00$16.001,3275
0742$46.40$53.00—$310.0042.96%$15.40$19.20132
022$40.20$47.00—$320.0042.97%$19.30$23.40314
027$35.10$41.80—$330.0042.91%$23.80$27.90230
023$30.20$37.00—$340.0043.13%$28.80$33.30460
055$25.80$31.3042.20%$350.00—$34.80$39.401,6022
0221$21.50$27.4041.92%$360.00—$42.00$45.401100
024$17.90$24.0041.84%$370.00—$46.00$53.20183
019$17.20$20.9043.43%$380.00—$53.60$59.905050
11299$14.30$18.3043.35%$390.00—$61.00$67.30130
050$12.00$15.9043.37%$400.00—$68.60$76.003110
219$10.50$13.8043.79%$410.00—$76.70$83.3010
435$8.80$13.2044.89%$420.00—$85.40$91.7040
072$7.40$10.4043.99%$430.00—$93.80$100.3010
—————$440.00—$102.80$109.20430
0234$5.20$7.8044.24%$450.00—$111.90$118.5050

Forward $342.58. The 25-delta put carries +0.10 volatility points over the 25-delta call.

2027-04-16(205 days)ATM 43.57%±112.83skew +0.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$140.10$148.60—$200.00—————
02$90.40$98.60—$260.0046.17%$9.50$13.7020
—————$280.0043.10%$13.00$17.2021
01,400$63.90$70.20—$300.0043.44%$20.40$24.10111
—————$310.0043.80%$23.00$30.20140
—————$320.0043.93%$27.00$35.30110
04$47.00$56.00—$330.0043.94%$31.80$40.1040
04$42.70$50.70—$340.0043.88%$36.80$45.30230
015$38.00$46.6043.98%$350.00—$42.50$50.80210
014$33.80$42.1043.57%$360.00—$48.10$56.7010
012$30.40$38.3043.58%$370.00—$54.70$62.90100
022$27.70$34.9043.85%$380.00—$61.40$70.001010
08$24.50$30.7043.17%$390.00—$69.00$76.1050
1050$22.90$26.3042.92%$400.00—$76.00$82.7010
012$19.10$25.3043.03%$410.00—$84.50$91.0010
06$16.30$25.0043.83%$420.00—————
06$14.20$21.6043.07%$430.00—————
07$13.90$20.0044.14%$440.00—————
014$10.70$17.2042.58%$450.00—$116.70$123.0002
01$11.20$17.0044.68%$460.00—————
—————$490.00—$150.30$158.6010

Forward $345.54. The 25-delta put carries +0.86 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.