Options Skew Analytics

USO option chain

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

Data as of 9 November 2026 (end of day)

2026-11-11(2 days)ATM 58.92%±6.22skew +1.21
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
160$8.85$10.65—$133.0068.13%$0.22$0.29224209
91$8.90$9.15—$134.0067.20%$0.30$0.37825259
1359$8.00$8.25—$135.0065.75%$0.39$0.463,5212,815
1142$7.10$7.35—$136.0065.00%$0.51$0.602,975636
2810$6.25$6.50—$137.0063.65%$0.65$0.751071,063
1510$5.45$5.70—$138.0062.51%$0.83$0.94597527
4174$4.70$4.95—$139.0061.64%$1.05$1.192481,562
9575$4.00$4.20—$140.0060.42%$1.32$1.462,1793,443
3,2159$3.35$3.55—$141.0059.40%$1.66$1.785321,029
590527$2.80$2.94—$142.0058.90%$2.07$2.19219353
87365$2.29$2.4158.92%$143.00—$2.55$2.70188587
1,191175$1.82$1.9458.24%$144.00—$3.10$3.25362416
764199$1.49$1.6159.48%$145.00—$3.70$3.90626155
3,780514$1.17$1.3259.96%$146.00—$4.45$4.65312409
44370$0.95$1.0360.43%$147.00—$5.20$5.4050594
414514$0.76$0.8862.17%$148.00—$6.00$6.20339263
308401$0.62$0.7263.54%$149.00—$6.85$7.10553353
2,0341,066$0.51$0.6065.19%$150.00—$7.75$7.952,793159
597592$0.42$0.5066.80%$151.00—$8.65$8.85183310
237447$0.35$0.4168.29%$152.00—$9.55$9.807818
352280$0.28$0.3569.79%$153.00—$9.60$12.6026811

Forward $142.72. The 25-delta put carries +1.21 volatility points over the 25-delta call.

2026-11-13(4 days)ATM 58.25%±8.70skew +0.08
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
619$7.80$8.05—$136.0062.16%$1.12$1.28312507
7416$7.05$7.30—$137.0061.30%$1.32$1.51271858
1773$6.30$6.55—$138.0060.70%$1.56$1.79575308
4064$5.60$5.85—$139.0059.80%$1.86$2.05416196
223170$4.95$5.15—$140.0059.12%$2.19$2.381,9381,977
10461$4.35$4.55—$141.0058.77%$2.59$2.76406247
13531$3.75$4.00—$142.0058.26%$3.00$3.201,858170
12128$3.25$3.4558.25%$143.00—$3.50$3.70158448
5336$3.05$3.2558.79%$143.50—$3.75$3.95315513
34888$2.84$2.9958.56%$144.00—$4.00$4.2587546
12182$2.64$2.7858.65%$144.50—$4.30$4.5520097
596137$2.45$2.5958.80%$145.00—$4.60$4.85767534
23348$2.27$2.4158.95%$145.50—$4.95$5.20230233
1,211140$2.09$2.2459.01%$146.00—$5.25$5.5019378
9658$1.93$2.0558.88%$146.50—$5.60$5.8523624
410379$1.77$1.9459.31%$147.00—$5.95$6.2040637
29219$1.63$1.8459.85%$147.50—$6.35$6.6524021
160207$1.51$1.6359.37%$148.00—$6.70$6.9571153
74246$1.40$1.5660.19%$148.50—$7.10$7.353562
316458$1.30$1.4960.98%$149.00—$7.50$7.759681
1189$1.22$1.3661.22%$149.50—$7.95$8.1538131

Forward $142.75. The 25-delta put carries +0.08 volatility points over the 25-delta call.

2026-11-18(9 days)ATM 53.43%±11.98skew +0.03
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$11.15$11.45—$133.0057.94%$1.47$1.643251
3712$10.35$10.65—$134.0056.48%$1.60$1.80110237
111$9.60$9.85—$135.0056.22%$1.87$2.02266558
228$8.85$9.15—$136.0055.80%$2.06$2.35344421
1111$8.10$8.40—$137.0055.12%$2.37$2.57103180
178$7.45$7.75—$138.0054.54%$2.68$2.8665497
60$6.80$7.05—$139.0054.59%$3.00$3.3020206
8716$6.20$6.45—$140.0053.61%$3.35$3.60129213
1494$5.60$5.85—$141.0053.73%$3.80$4.0523107
1139$5.05$5.35—$142.0053.47%$4.25$4.507198
1377$4.55$4.8053.40%$143.00—$4.75$5.009222
35351$4.10$4.3553.51%$144.00—$5.25$5.55306322
22144$3.65$3.9053.25%$145.00—$5.80$6.1012133
40652$3.25$3.5053.19%$146.00—$6.45$6.70105193
13013$2.92$3.1553.47%$147.00—$7.10$7.35166300
233384$2.60$2.7853.34%$148.00—$7.75$8.0552120
26562$2.31$2.5553.90%$149.00—$8.50$8.8029151
404788$2.08$2.2954.34%$150.00—$9.25$9.5537566
2080$1.86$2.0854.88%$151.00—$10.05$10.35938
21201$1.76$1.9056.18%$152.00—$10.85$11.159211
567$1.55$1.7456.62%$153.00—$11.70$12.001433

Forward $142.80. The 25-delta put carries +0.03 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 54.48%±13.51skew +1.06
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
3765$9.30$9.60—$136.0056.26%$2.54$2.81569168
43140$8.60$8.90—$137.0056.34%$2.89$3.15588134
5761$7.95$8.25—$138.0055.67%$3.20$3.45369154
6476$7.40$7.65—$139.0055.75%$3.60$3.85303136
4302,084$6.70$7.05—$140.0055.53%$4.00$4.254,5592,148
8789$6.25$6.45—$141.0054.75%$4.35$4.65310177
6662$5.70$5.95—$142.0054.72%$4.85$5.10260302
6865$5.20$5.4554.64%$143.00—$5.35$5.60560155
10—$4.95$5.2054.48%$143.50—$5.60$5.85—62
7849$4.75$5.0054.75%$144.00—$5.90$6.15471297
12—$4.55$4.7554.70%$144.50—$6.15$6.45—101
657935$4.30$4.5554.58%$145.00—$6.45$6.703,304530
13—$4.10$4.3554.63%$145.50—$6.70$7.00—10
54238$3.90$4.1554.62%$146.00—$7.05$7.30617134
316—$3.75$3.9554.79%$146.50—$7.35$7.60—25
207169$3.55$3.7554.64%$147.00—$7.65$7.9541552
31—$3.35$3.6054.67%$147.50—$8.00$8.30—4
380411$3.20$3.4554.90%$148.00—$8.35$8.6082283
159—$3.05$3.3055.06%$148.50—$8.70$8.95—1
706974$2.92$3.1555.27%$149.00—$9.05$9.3561266
12—$2.78$2.9755.20%$149.50—$9.40$9.70—5

Forward $142.85. The 25-delta put carries +1.06 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 52.55%±16.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$137.0053.34%$3.90$4.352527
04$8.95$9.50—$138.0053.15%$4.30$4.70903
04$8.35$8.90—$139.0052.35%$4.55$5.1020011
3592$7.80$8.35—$140.0052.40%$5.05$5.50839310
2023$7.50$8.05—$140.5052.35%$5.25$5.75492
3200$7.25$7.75—$141.0052.45%$5.50$6.003719
12$7.00$7.50—$141.5052.70%$5.80$6.2519716
015$6.75$7.25—$142.0052.51%$6.00$6.507048
039$6.50$7.00—$142.5052.66%$6.30$6.755841
017$6.25$6.7552.57%$143.00—$6.55$7.006712
73$6.00$6.5552.62%$143.50—$6.80$7.306127
3511$5.80$6.2552.43%$144.00—$7.05$7.554822
2923$5.60$6.0552.58%$144.50—$7.35$7.8512814
3398$5.40$5.8552.70%$145.00—$7.60$8.154609
0125$5.20$5.6552.76%$145.50—$7.90$8.45620
134$5.00$5.4552.78%$146.00—$8.20$8.7514310
218$4.75$5.2552.56%$146.50—$8.50$9.05620
4521$4.60$5.0552.69%$147.00—$8.80$9.3512012
010$4.40$4.8552.58%$147.50—$9.15$9.701272
1649$4.25$4.6552.62%$148.00—$9.45$10.052335
54$4.05$4.5552.82%$148.50—$9.75$10.351181

Forward $142.73. Not enough surviving quotes on both wings to measure the skew here.

2026-12-04(25 days)ATM 52.84%±19.74
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
160$10.60$11.30—$137.0052.95%$4.85$5.50324
—————$138.0053.17%$5.35$5.904978
5911$9.50$10.10—$139.0053.41%$5.85$6.35362
495$8.90$9.55—$140.0052.48%$6.25$6.6022872
311$8.65$9.30—$140.5053.25%$6.50$7.0530
10$8.35$9.05—$141.0053.13%$6.70$7.3040
10$8.10$8.80—$141.5053.31%$7.00$7.5560
—————$142.0053.12%$7.20$7.80736
—————$142.5052.89%$7.40$8.051914
382$7.40$8.0552.81%$143.00—$7.75$8.20325
—————$143.50—$8.05$8.601812
1142$6.95$7.6052.85%$144.00—$8.25$8.8583
318$6.75$7.3552.82%$144.50—$8.50$9.25200
16477$6.55$7.2053.09%$145.00—$8.85$9.502968
1010$6.35$6.9052.83%$145.50—$9.15$9.7550
23$6.20$6.7553.21%$146.00—$9.40$10.10770
—————$146.50—$9.65$10.45350
5175$5.80$6.3553.19%$147.00—$10.05$10.7540
0138$5.60$6.2053.31%$147.50—$10.35$10.90172
2105$5.40$6.0053.22%$148.00—$10.65$11.40168
1631$5.25$5.8053.27%$148.50—$11.00$11.70551

Forward $142.75. Not enough surviving quotes on both wings to measure the skew here.

2026-12-11(32 days)ATM 52.68%±22.26
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$137.0052.58%$5.85$6.35162
01$10.85$11.65—$138.0052.67%$6.25$6.8541
20$10.30$11.15—$139.0052.65%$6.70$7.30430
45$9.80$10.60—$140.0052.83%$7.15$7.851391
—————$140.5052.72%$7.45$8.0011
—————$141.0052.43%$7.60$8.2510
40$9.05$9.80—$141.5052.88%$7.95$8.5521
20$9.05$9.60—$142.0052.69%$8.15$8.801412
32$8.55$9.35—$142.5052.78%$8.45$9.0570
11$8.25$9.1552.68%$143.00—$8.75$9.40133
710$8.10$8.8552.70%$143.50—————
015$7.90$8.7553.14%$144.00—$9.25$9.9551
46$7.60$8.4552.66%$144.50—$9.45$10.30190
2249$7.55$8.2553.20%$145.00—$9.65$10.70114
07$7.35$8.0053.12%$145.50—$10.10$10.9060
12592$7.15$7.8053.16%$146.00—$10.35$11.2043
01$6.95$7.6553.33%$146.50—$10.65$11.5010
04$6.75$7.3553.02%$147.00—$10.90$11.80410
01$6.55$7.1552.99%$147.50—$11.30$12.1020
07$6.35$7.0053.08%$148.00—$11.60$12.4560
2038$6.15$6.8553.15%$148.50—$11.90$12.8520

Forward $142.70. Not enough surviving quotes on both wings to measure the skew here.

2026-12-18(39 days)ATM 53.09%±24.78
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
665$14.80$15.45—$133.0052.33%$4.95$5.601,20317
0185$14.20$14.85—$134.0052.17%$5.40$5.8576454
381,683$13.85$14.15—$135.0051.47%$5.80$6.002,8582,236
16116$13.00$13.60—$136.0052.00%$6.15$6.654207
3587$12.40$13.00—$137.0052.71%$6.65$7.2536422
7150$11.85$12.45—$138.0051.89%$7.05$7.456465
1546$11.45$12.00—$139.0052.11%$7.50$8.0019510
1432,913$11.00$11.40—$140.0051.69%$8.00$8.306,0261,359
402158$10.30$10.90—$141.0052.55%$8.50$9.1029310
10169$9.80$10.40—$142.0052.35%$8.95$9.607009
35295$9.35$9.9552.61%$143.00—$9.55$10.1595114
10215$8.90$9.5552.76%$144.00—$10.05$10.6529115
2163,028$8.65$9.0553.09%$145.00—$10.65$11.301,096166
18203$8.10$8.6552.80%$146.00—$11.20$11.85564
2065$7.70$8.2552.83%$147.00—$11.80$12.503593
9393$7.30$7.9052.91%$148.00—$12.45$13.1056813
23160$6.95$7.5052.92%$149.00—$13.05$13.7522912
5524,255$6.90$7.1553.80%$150.00—$13.70$14.401,943185
130190$6.25$6.8553.10%$151.00—$14.40$15.0519923
6279$5.95$6.5053.14%$152.00—$15.05$15.754995
521,465$5.70$6.2053.40%$153.00—$15.75$16.4525913

Forward $142.80. Not enough surviving quotes on both wings to measure the skew here.

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.