Options Skew Analytics

UNH 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 39.10%±16.26skew +3.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$372.5045.09%$0.63$0.8112450
191$22.10$25.50—$375.0043.61%$0.81$0.921,237264
041$20.00$21.95—$377.5042.51%$1.05$1.1012185
1193$17.80$19.10—$380.0041.97%$1.34$1.44564330
425$15.65$16.75—$382.5041.61%$1.72$1.88138158
5109$14.30$14.70—$385.0040.94%$2.19$2.34422306
749$12.30$13.60—$387.5040.09%$2.71$2.9013199
43186$10.50$11.05—$390.0039.89%$3.35$3.75306136
60116$8.70$9.35—$392.5039.02%$4.15$4.50384389
123314$7.40$7.95—$395.0038.69%$5.10$5.55401358
399185$6.00$6.7539.11%$397.50—$6.25$6.9526368
636508$4.90$5.1537.82%$400.00—$7.50$8.25405234
134130$3.85$4.1537.55%$402.50—$9.05$9.80830112
654321$3.05$3.2037.27%$405.00—$10.15$11.202418
806353$2.35$2.4537.03%$407.50—$12.30$13.20306226
1,123719$1.76$1.8736.86%$410.00—$14.25$15.25304160
4851,502$1.25$1.4636.77%$412.50—$15.45$17.20481
1,044633$0.93$1.0636.69%$415.00—$17.15$19.251471
148663$0.67$0.8036.86%$417.50—$19.95$22.00380
802937$0.48$0.5937.00%$420.00—$22.25$24.35461
71420$0.34$0.5538.33%$422.50—$24.90$26.8010

Forward $397.27. The 25-delta put carries +3.06 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 34.81%±24.01skew +2.34
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$26.50$28.45—$372.5037.41%$1.93$2.27—32
17$24.45$26.15—$375.0037.11%$2.38$2.6299078
27$22.25$24.35—$377.5036.52%$2.76$3.052339
31,316$20.60$22.20—$380.0035.97%$3.15$3.601,998268
518$18.40$20.10—$382.5036.04%$3.85$4.2533360
181$17.00$18.00—$385.0035.63%$4.50$4.90466181
067$15.20$15.70—$387.5035.18%$5.15$5.7030854
851,039$13.60$14.25—$390.0035.27%$6.15$6.602,271282
4118$11.75$12.60—$392.5034.60%$6.95$7.50241181
20441$10.60$11.10—$395.0034.77%$8.20$8.60375536
74182$9.25$9.7534.83%$397.50—$9.30$10.0024938
1904,308$8.05$8.5034.60%$400.00—$10.50$11.004,00371
107332$6.95$7.4034.44%$402.50—$11.65$12.701590
225654$5.95$6.3534.18%$405.00—$13.10$14.252941
39690$5.05$5.4033.92%$407.50—$15.00$15.901381
1,3993,375$4.30$4.5533.76%$410.00—$16.30$17.251,679206
22322$3.55$3.8533.53%$412.50—$17.70$19.101411
81370$3.05$3.2533.70%$415.00—$19.65$21.501121
64253$2.49$2.6433.33%$417.50—$21.75$23.00880
1,7184,498$2.01$2.2733.40%$420.00—$24.35$25.152,3705
19385$1.66$1.8233.24%$422.50—$25.25$27.50410

Forward $397.35. The 25-delta put carries +2.34 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 31.77%±28.09skew +3.34
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
076$29.95$31.70—$370.0034.72%$2.57$2.8515012
0—$27.70$29.40—$372.5034.24%$2.96$3.20—0
11,027$25.95$27.30—$375.0034.08%$3.30$3.851418
0—$24.00$26.05—$377.5033.71%$3.80$4.35—1
6280$22.25$23.15—$380.0033.76%$4.50$5.0032710
2—$20.15$21.45—$382.5033.39%$5.05$5.70—0
1130$18.75$19.25—$385.0033.28%$5.85$6.4514066
3—$17.05$17.55—$387.5033.09%$6.75$7.20—3
1155$15.50$15.95—$390.0032.97%$7.60$8.2036512
1—$13.85$14.50—$392.5032.75%$8.60$9.15—3
10134$12.55$13.45—$395.0032.72%$9.75$10.2516911
19—$11.20$12.00—$397.5032.16%$10.60$11.45—0
23389$9.95$10.5031.63%$400.00—$12.10$12.7011062
14—$8.75$9.4531.56%$402.50—$12.70$14.15—0
86109$7.75$8.4531.60%$405.00—$14.85$15.601280
15—$6.65$7.6031.47%$407.50—$15.90$17.25—0
221160$5.95$6.4031.16%$410.00—$17.80$18.55661
0—$4.95$5.6030.73%$412.50—$19.50$20.35—0
218262$4.25$4.8530.59%$415.00—$20.55$22.35930
48201$3.05$3.6530.42%$420.00—$24.75$26.40860
86139$2.30$2.5830.38%$425.00—$29.35$30.601250

Forward $398.08. The 25-delta put carries +3.34 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 32.59%±33.98skew +3.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$350.0037.11%$1.38$1.69154114
—————$355.0036.37%$1.83$2.099556
—————$360.0035.68%$2.34$2.65842
04$35.65$37.80—$365.0035.16%$3.00$3.40777
—————$370.0034.58%$3.80$4.3026327
12$28.00$29.65—$375.0034.23%$4.90$5.4019816
020$24.35$25.30—$380.0033.82%$6.15$6.752094
3377$20.65$21.80—$385.0033.64%$7.85$8.302803
122$17.45$18.70—$390.0033.42%$9.65$10.25663
1346$14.90$15.75—$395.0033.19%$11.75$12.45971
33137$12.35$13.1032.57%$400.00—$14.15$14.603732
1184$10.05$10.7532.19%$405.00—$16.45$17.45680
2790$8.10$8.7031.90%$410.00—$19.35$20.45147
485175$6.35$6.8031.32%$415.00—$23.15$24.051133
72121$4.90$5.4031.09%$420.00—$25.70$27.50248
3086$3.80$4.2531.04%$425.00—$30.00$31.70420
67119$2.85$3.2530.79%$430.00—$34.10$35.90100
695$2.10$2.4330.52%$435.00—————
86132$1.60$1.8930.73%$440.00—$42.95$44.90140
13126$1.12$1.4430.60%$445.00—$46.65$49.5570
234208$0.83$1.1530.95%$450.00—$51.15$54.10160

Forward $398.35. The 25-delta put carries +3.14 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 33.05%±38.84skew +3.72
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$345.0037.23%$1.78$2.14136
—————$350.0036.81%$2.37$2.60602,444
—————$355.0036.11%$2.86$3.252449
—————$360.0035.63%$3.55$4.05205
—————$365.0035.19%$4.40$5.00383
—————$370.0034.98%$5.55$6.15498
—————$375.0034.45%$6.75$7.40332
043$25.20$26.80—$380.0034.53%$8.40$9.10848
05$21.90$23.35—$385.0033.83%$9.95$10.70481
017$18.90$20.20—$390.0033.63%$11.95$12.75270
224$16.10$17.10—$395.0033.49%$14.30$15.00236
747$13.50$14.4532.94%$400.00—$16.85$17.5041
077$11.30$12.2032.70%$405.00—$19.10$20.4550
3621$9.20$10.2032.29%$410.00—$22.30$23.65134
18814$7.55$8.2531.89%$415.00—$25.55$26.7021
873$5.90$6.7531.45%$420.00—$28.80$30.50120
1457$4.60$5.5531.26%$425.00—————
1028$3.55$4.5531.16%$430.00—————
225$2.67$3.4530.59%$435.00—————
2361$2.12$2.7030.61%$440.00—————
936$1.69$2.1930.89%$445.00—————

Forward $396.96. The 25-delta put carries +3.72 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 32.94%±42.71skew +2.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
2490$106.70$111.15—$290.00—————
01,182$96.80$101.25—$300.0044.03%$0.43$0.552,9391
1607$87.30$91.35—$310.0042.75%$0.60$0.921,09311
0476$77.70$80.75—$320.0041.38%$0.93$1.361,0363
01,236$68.05$71.75—$330.0039.44%$1.39$1.812,312123
5608$58.95$60.80—$340.0037.35%$2.11$2.282,705209
21,338$49.70$52.05—$350.0036.50%$3.15$3.551,86988
2940$41.50$43.05—$360.0035.52%$4.70$5.151,735246
6874$33.40$35.55—$370.0034.45%$6.85$7.201,885110
401,040$26.65$27.35—$380.0033.96%$9.80$10.352,19272
941,489$20.40$20.95—$390.0033.44%$13.60$14.301,785107
5513,795$15.15$15.6532.88%$400.00—$18.40$19.001,907259
5161,769$10.90$11.3532.35%$410.00—$23.80$24.7088753
9862,548$7.50$7.9531.80%$420.00—$30.80$31.8046910
9572,182$5.15$5.4031.59%$430.00—$37.65$39.253836
1511,913$3.35$3.6531.43%$440.00—$44.85$47.603280
9802,550$2.20$2.3431.35%$450.00—$54.00$56.603099
301,362$1.44$1.5531.61%$460.00—$63.10$65.6518511
512,553$0.90$1.0331.81%$470.00—$71.40$75.852000
371,572$0.58$0.7032.26%$480.00—$80.50$86.65280
204,379$0.25$0.3533.47%$500.00—$99.95$106.5510

Forward $396.69. The 25-delta put carries +2.86 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 32.34%±45.12skew +3.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$345.0036.22%$2.73$3.5551
—————$350.0035.52%$3.35$4.1020
—————$355.0035.18%$4.10$4.9512
—————$360.0035.08%$5.00$6.1001
—————$365.0034.71%$6.15$7.1021
02$34.45$36.10—$370.0034.32%$7.30$8.4070
03$31.05$33.40—$375.0036.09%$8.80$11.75110
296$27.60$29.75—$380.0035.05%$10.35$12.8020
011$24.20$25.90—$385.0033.34%$12.00$13.3510
05$21.40$22.65—$390.0033.24%$14.30$15.3020
213$18.55$20.00—$395.0032.75%$16.40$17.4510
010$16.00$17.3532.33%$400.00—$18.85$19.9511
02$13.70$14.9531.97%$405.00—————
01$11.75$12.8531.81%$410.00—$24.30$25.80102
01$9.85$10.8531.40%$415.00—————
14$8.20$9.2031.16%$420.00—————
210$6.70$7.7530.87%$425.00—————
3202$5.55$6.4530.72%$430.00—————
21$4.35$5.4030.41%$435.00—————
110$3.45$4.5030.26%$440.00—————
50$2.68$3.7530.12%$445.00—————

Forward $397.36. The 25-delta put carries +3.60 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 32.88%±56.07skew +3.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
69,456$98.00$101.70—$300.0041.39%$1.31$1.5413,01221
701,139$88.50$91.90—$310.0039.89%$1.65$2.134,0873
731,859$79.60$82.50—$320.0038.75%$2.46$2.712,86327
12,603$70.35$73.50—$330.0037.65%$3.30$3.702,2389
0928$61.70$64.15—$340.0036.72%$4.55$4.952,13958
2310,955$53.60$54.90—$350.0035.90%$6.30$6.507,793189
11,968$45.85$47.80—$360.0035.27%$8.40$8.754,436123
181,654$38.75$39.80—$370.0034.50%$11.05$11.354,52330
71,677$32.10$33.30—$380.0033.70%$14.10$14.653,292295
482,271$26.10$27.30—$390.0033.23%$18.00$18.804,83251
937,386$20.80$21.9532.97%$400.00—$22.85$23.656,83456
224,966$16.40$17.1532.39%$410.00—$28.15$29.002,2413
212,755$12.70$13.3032.01%$420.00—$34.05$35.4088412
642,359$9.65$10.2531.78%$430.00—$40.85$42.554410
311,670$7.20$7.7031.49%$440.00—$47.95$50.253210
1227,622$5.30$5.6031.17%$450.00—$55.80$58.452411
545,695$3.85$4.1531.10%$460.00—$64.70$68.90790
513,701$2.74$3.0531.04%$470.00—$72.85$78.151050
192,469$2.06$2.2231.25%$480.00—$82.10$86.05491
1861,030$1.50$1.6531.46%$490.00—$91.75$95.70260
12516,769$1.11$1.3031.95%$500.00—$101.45$105.00350

Forward $398.11. The 25-delta put carries +3.77 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.