Options Skew Analytics

UAL 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 58.54%±7.40skew +1.56
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1543$11.40$13.65—$109.00—————
6154$10.25$12.75—$110.0062.01%$0.20$0.31211218
10197$9.60$11.75—$111.0062.16%$0.28$0.42675
43985$8.70$10.60—$112.0061.86%$0.38$0.5461145
57121$7.30$8.50—$113.0061.50%$0.51$0.6822037
9213$6.55$9.05—$114.0061.12%$0.66$0.861527
26438$6.15$8.05—$115.0060.62%$0.84$1.073664
311,134$5.70$6.65—$116.0058.55%$0.90$1.352121
965916$4.90$5.35—$117.0059.79%$1.31$1.63078
27113$4.25$4.70—$118.0058.62%$1.56$1.962146
4825$3.45$4.40—$119.0059.49%$2.02$2.37066
171234$3.00$3.50—$120.0059.14%$2.44$2.814484
128700$2.58$3.0558.54%$121.00—$2.84$3.350228
104421$2.13$2.6158.55%$122.00—$3.45$4.05019
8661$1.76$2.1057.60%$123.00—$4.05$4.5015
189131$1.36$1.7757.10%$124.00—$4.60$5.7004
1,497335$1.17$1.4357.73%$125.00—$5.35$5.85017
540122$0.88$1.1657.00%$126.00—$5.50$6.8504
34847$0.61$0.9455.96%$127.00—————
—————$128.00—$7.05$8.7501
—————$129.00—$8.45$9.5001

Forward $120.72. The 25-delta put carries +1.56 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 52.05%±10.93skew +2.65
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
1133$13.00$15.00—$108.00—————
9268$11.70$14.10—$109.0056.13%$0.68$0.967379
422,353$11.10$12.90—$110.0053.75%$0.74$1.00963268
3379$9.95$12.45—$111.0053.49%$0.89$1.1860405
38195$9.55$10.70—$112.0054.29%$1.18$1.395435
7451$8.75$10.60—$113.0052.99%$1.34$1.546137
20366$8.20$9.70—$114.0052.53%$1.45$1.8920322
952,303$7.50$8.15—$115.0053.82%$1.91$2.1998565
1—$6.80$8.35—$116.0053.17%$2.11$2.55—1
0—$6.10$6.95—$117.0051.42%$2.15$2.96—14
5—$5.55$6.45—$118.0057.55%$2.82$4.05—2
12—$5.00$5.70—$119.0052.06%$3.00$3.85—0
1,5824,405$4.60$4.90—$120.0052.78%$3.75$4.15580119
12—$3.65$5.0552.45%$121.00—$4.05$4.80—2
17—$3.50$4.1051.38%$122.00—$4.65$5.20—0
6—$2.95$3.7050.77%$123.00—$5.20$5.80—0
16—$2.62$3.2550.75%$124.00—$5.25$6.60—1
5433,610$2.36$2.7450.35%$125.00—$6.45$7.1015410
1,207—$2.01$2.5050.67%$126.00—$7.15$7.75—2
111$1.29$1.5649.89%$129.00—————
3371,333$1.03$1.3649.42%$130.00—$9.10$11.4560

Forward $120.92. The 25-delta put carries +2.65 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 48.31%±15.34skew +2.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0149$13.70$16.30—$108.0050.35%$1.30$1.801325
053$12.85$15.70—$109.0050.58%$1.58$1.992212
159$12.60$14.90—$110.0050.43%$1.79$2.231534
112$11.25$14.15—$111.0050.08%$1.96$2.51160
07$11.10$13.10—$112.0050.23%$2.15$2.9194
126$10.45$11.30—$113.0050.34%$2.59$3.102725
144$9.80$11.65—$114.0050.13%$2.85$3.4543
12105$9.15$10.65—$115.0049.14%$2.98$3.8063
1313$8.45$9.55—$116.0048.37%$3.15$4.20150
412$8.05$8.80—$117.0051.97%$3.80$5.2090
3110$7.35$8.50—$118.00—————
08$6.80$7.65—$119.00—————
242$6.30$7.25—$120.00—————
202$5.80$6.90—$121.00—————
05$5.45$6.1548.27%$122.00—————
35$5.00$5.7548.42%$123.00—————
210$4.55$5.3548.38%$124.00—————
413$4.20$4.7547.73%$125.00—$7.45$8.75100
215$3.15$3.7047.63%$128.00—————
21$2.63$3.4546.90%$129.00—————
846$2.55$3.1047.45%$130.00—————

Forward $121.37. The 25-delta put carries +2.78 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 48.38%±17.38skew +3.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
5921$13.25$15.55—$110.0051.90%$2.20$3.4021225
1398$12.65$14.05—$111.0050.88%$2.56$3.4011,329
0187$11.85$12.75—$112.0049.89%$2.85$3.503510
0123$11.20$13.30—$113.0050.26%$3.00$4.10121,199
034$10.35$12.60—$114.0050.63%$3.30$4.604932
0341$9.10$11.80—$115.0048.88%$3.45$4.758933
4377$9.05$10.30—$116.0050.63%$4.45$5.0001,529
2,846205$8.75$9.95—$117.0049.00%$4.40$5.45511,348
926139$8.20$9.80—$118.0049.08%$4.65$6.1002,934
45359$7.65$8.55—$119.0047.73%$5.00$6.3001,015
10,176346$6.85$8.10—$120.0048.03%$5.40$6.95721,093
39182$6.50$8.15—$121.0050.26%$6.20$7.800203
2,8521$6.10$7.4049.49%$122.00—$6.45$7.80011,333
9301$5.60$6.5547.86%$123.00—$6.85$8.3501,899
6873$5.20$6.4549.06%$124.00—$7.80$9.60086
10,4774$4.85$5.8048.35%$125.00—$8.10$9.450500
3590$4.40$5.3047.66%$126.00—————
40$3.75$5.1547.34%$127.00—————
50$3.65$5.2049.61%$128.00—————
2600$3.20$4.1546.40%$129.00—$10.40$12.100132
1,91712$3.05$3.9547.30%$130.00—$11.75$12.8502

Forward $121.33. The 25-delta put carries +3.58 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 47.43%±18.78skew +4.76
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
025$47.60$50.50—$72.50—————
1224$45.20$48.05—$75.00—————
028$42.65$45.55—$77.50—————
1113$40.40$42.85—$80.00—————
087$37.80$40.75—$82.50—————
150$35.40$38.00—$85.00—————
0120$33.55$35.60—$87.50—————
0383$30.90$33.30—$90.0057.17%$0.36$0.561,84628
31213$28.30$30.90—$92.5055.94%$0.46$0.732,42020
5320$26.40$28.55—$95.0056.00%$0.72$0.952,350128
0220$23.70$26.45—$97.5053.49%$0.82$1.121,04777
19527$22.00$24.00—$100.0052.15%$1.05$1.382,208261
13940$17.40$18.75—$105.0051.70%$2.00$2.191,345325
2263,825$14.00$14.75—$110.0050.12%$3.10$3.352,138248
30940,486$10.50$11.65—$115.0048.60%$4.60$4.951,179102
5705,856$7.90$8.30—$120.0048.02%$6.70$7.20841110
595106,469$5.55$5.9046.88%$125.00—$9.35$9.8058612
83242,512$3.70$4.1546.20%$130.00—$12.25$13.103570
1115,201$2.38$2.7445.36%$135.00—$16.00$17.302802
1,711107,448$1.47$1.7244.58%$140.00—————
17662$0.79$1.1844.31%$145.00—$23.00$25.80200

Forward $121.15. The 25-delta put carries +4.76 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 45.10%±19.27
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$110.0049.11%$2.75$4.100102
11$13.50$14.75—$111.0048.81%$3.15$4.250162
0513$12.95$14.50—$112.0050.47%$3.45$5.1002
10$12.05$13.60—$113.00—————
10$11.65$13.50—$114.00—————
10$11.00$12.15—$115.00—————
01$10.35$11.55—$116.0049.35%$4.75$6.5501
6513$9.80$11.45—$117.0049.15%$5.30$6.8003
2160$8.40$11.00—$118.0048.37%$5.55$7.20024
100$8.75$9.85—$119.0048.41%$6.45$7.2502
110$8.20$9.40—$120.0047.12%$5.90$8.350309
50$7.70$9.30—$121.00—————
110$7.00$7.9044.88%$122.00—————
2160$6.15$7.9045.03%$123.00—$7.40$9.3003
50$5.85$7.6045.79%$124.00—$7.95$10.8502
1102$5.85$7.7048.51%$125.00—$9.30$10.50046
41$5.35$7.2047.87%$126.00—————
32$5.10$6.2546.52%$127.00—————
01$4.30$6.1045.79%$128.00—————
21$4.30$5.1044.78%$129.00—————
5425$4.05$4.7544.87%$130.00—————

Forward $121.67. Not enough surviving quotes on both wings to measure the skew here.

2027-01-15(67 days)ATM 47.48%±24.79skew +5.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0465$41.25$43.70—$80.00—————
0100$38.65$41.20—$82.50—————
0501$36.65$38.80—$85.0056.02%$0.56$0.856145
0179$34.30$36.75—$87.5055.84%$0.70$1.1541117
0569$31.95$34.45—$90.0054.11%$0.96$1.191,31126
1718$29.35$32.10—$92.5053.31%$1.20$1.4563923
0556$27.50$29.30—$95.0053.77%$1.45$2.041,63117
4144$25.45$27.70—$97.5051.32%$1.79$2.051,32837
46889$23.50$25.75—$100.0051.61%$2.31$2.594,37191
9637$19.00$21.60—$105.0050.32%$3.35$3.651,940135
801,531$16.05$17.25—$110.0049.30%$4.70$5.101,51832
1391,284$13.05$13.50—$115.0048.27%$6.40$6.902,18842
1431,774$10.25$10.85—$120.0046.86%$8.30$9.101,63935
1782,351$7.90$9.0047.51%$125.00—$10.50$11.754620
1012,337$6.00$6.4545.66%$130.00—$13.40$15.453308
1081,366$4.35$4.6544.40%$135.00—$16.75$19.201170
492,085$3.10$3.4043.85%$140.00—$20.30$22.208030
2301,514$2.19$2.4043.34%$145.00—————
361,449$1.50$1.9243.89%$150.00—$28.55$31.2001
7502$1.06$1.1742.88%$155.00—————
121,066$0.61$0.8041.97%$160.00—————

Forward $121.86. The 25-delta put carries +5.45 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 47.28%±34.70skew +5.56
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$40.40$42.95—$82.5054.55%$1.34$2.0658835
087$38.45$40.85—$85.0054.70%$1.77$2.4359221
010$36.10$38.85—$87.5053.48%$2.18$2.5621212
2268$34.45$36.90—$90.0053.10%$2.43$3.151,2109
050$32.00$34.65—$92.5054.16%$2.95$4.053560
1123$30.25$32.55—$95.0052.56%$3.40$4.255778
159$28.40$30.60—$97.5050.96%$3.85$4.503079
3262$26.70$28.25—$100.0051.21%$4.40$5.451,57914
3240$23.40$24.25—$105.0050.14%$5.85$6.7529872
9890$20.15$21.35—$110.0049.72%$7.40$8.751,17216
36390$17.25$18.25—$115.0049.11%$9.45$10.7055553
239409$14.55$15.70—$120.0048.42%$11.65$13.006101
108673$12.30$13.3547.57%$125.00—$14.20$15.405010
379687$10.15$11.3547.11%$130.00—$17.05$18.75300
21,022$8.50$9.4046.72%$135.00—$20.10$21.60320
10209$6.95$7.7546.18%$140.00—$23.55$25.00190
17231$5.40$6.6045.74%$145.00—$27.05$28.85390
1528$4.40$5.3545.40%$150.00—$30.95$33.30170
1231$3.40$4.2544.59%$155.00—$35.00$36.8501
2383$2.70$3.5044.51%$160.00—————
243$2.15$2.8744.49%$165.00—————

Forward $123.00. The 25-delta put carries +5.56 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.

UAL option chain | Options Skew Analytics