Options Skew Analytics

VRT option chain

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

Data as of 23 September 2026 (end of day)

2026-09-25(2 days)ATM 58.71%±10.84skew -1.28
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
516$23.95$26.45—$225.00—————
576$18.45$21.55—$230.0062.83%$0.14$0.23833158
010$16.75$19.15—$232.50—————
3157$14.30$16.30—$235.0060.77%$0.40$0.551,158164
229$12.20$14.65—$237.5060.79%$0.68$0.8720129
103342$10.15$10.85—$240.0059.35%$1.07$1.201,350156
735$8.25$8.95—$242.5058.48%$1.51$1.8228632
120113$6.55$7.10—$245.0058.44%$2.32$2.54537462
17446$5.20$5.40—$247.5058.59%$3.20$3.6591125
115397$3.75$4.3058.75%$250.00—$4.40$4.90884103
318243$2.94$3.2560.54%$252.50—$5.65$6.5010116
256639$2.04$2.3459.74%$255.00—$7.40$8.2540825
58172$1.44$1.6359.76%$257.50—$9.20$10.15357
261691$0.99$1.1760.50%$260.00—$11.25$12.1013922
88220$0.65$0.8761.56%$262.50—$12.75$14.35251
136685$0.43$0.5962.00%$265.00—$14.80$17.052375
93352$0.31$0.4063.23%$267.50—$16.50$19.00220
1211,421$0.22$0.2764.40%$270.00—$18.90$21.401963
—————$272.50—$21.35$24.45107
—————$275.00—$24.05$26.601407
—————$277.50—$26.45$28.7553

Forward $249.37. The 25-delta put carries -1.28 volatility points over the 25-delta call.

2026-10-02(9 days)ATM 55.45%±21.73skew -1.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$24.45$27.75—$225.0054.50%$0.98$1.2540683
50$22.30$25.55—$227.5054.52%$1.29$1.622423
088$20.25$23.55—$230.0054.27%$1.74$1.9529341
554$18.75$21.45—$232.5054.60%$2.20$2.55257
019$16.80$19.40—$235.0054.27%$2.75$3.1061559
016$14.80$17.85—$237.5054.57%$3.40$3.9012919
4368$13.50$14.70—$240.0054.78%$4.30$4.6527846
116$11.90$13.10—$242.5055.24%$5.15$5.753115
159$10.40$11.60—$245.0055.41%$6.20$6.8021750
328$9.30$10.15—$247.5055.46%$7.35$7.95496
65133$8.10$8.7555.42%$250.00—$8.60$9.205439
2326$6.95$7.7555.76%$252.50—$10.00$10.651832
20293$5.95$6.7055.70%$255.00—$11.50$12.0514823
1354$5.05$5.8055.76%$257.50—$13.10$13.85185
40184$4.30$4.9055.64%$260.00—$14.50$15.6016813
567$3.55$4.2555.72%$262.50—$16.05$17.6070
85214$2.96$3.6055.74%$265.00—$17.35$19.20936
58$2.49$3.1056.21%$267.50—$18.80$21.9560
74244$2.05$2.4855.66%$270.00—$20.90$23.60844
1526$1.63$2.1555.88%$272.50—$23.10$26.1517
31215$1.41$1.8056.49%$275.00—$25.15$27.85250

Forward $249.52. The 25-delta put carries -1.18 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 55.14%±28.84skew -0.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$222.5054.60%$2.02$2.3450
026$26.90$29.45—$225.0055.03%$2.58$2.8022845
01$24.95$27.50—$227.5055.09%$3.10$3.3533
027$22.60$25.55—$230.0054.78%$3.70$3.8538262
01$21.15$23.25—$232.5054.65%$4.25$4.6070
06$19.15$22.05—$235.0054.66%$4.95$5.4052217
01$17.50$18.85—$237.50—————
54534$16.30$17.15—$240.0054.68%$6.70$7.1531822
—————$242.5054.92%$7.80$8.1540
642$13.35$14.40—$245.0054.83%$8.85$9.251274
12$12.25$13.00—$247.5055.06%$10.00$10.5570
7713$11.05$11.7555.09%$250.00—$11.30$11.8030610
13$9.90$10.6555.18%$252.50—$12.50$13.2010
6735$8.90$9.6055.34%$255.00—$13.85$14.7012922
116$7.75$8.6054.85%$257.50—$15.60$16.2020
1682$7.00$7.5054.70%$260.00—$16.95$17.801072
02$6.20$6.8055.05%$262.50—————
6818$5.05$6.2054.37%$265.00—$20.10$21.55810
01$4.90$5.3055.18%$267.50—$21.60$23.6502
14280$4.20$4.7555.11%$270.00—$22.75$25.50752
5234$3.25$3.7555.56%$275.00—$27.30$29.65965

Forward $249.85. The 25-delta put carries -0.46 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 54.42%±34.15skew -0.54
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$222.5054.33%$3.35$3.65106
—————$225.0054.36%$3.90$4.252711
01$26.40$29.25—$227.5054.72%$4.45$5.108152
115391$24.45$26.85—$230.0053.95%$5.15$5.503,154329
—————$232.5054.36%$5.75$6.60634
151$21.00$23.70—$235.0054.31%$6.80$7.202268
—————$237.5054.37%$7.75$8.1094
3566$18.45$19.45—$240.0054.34%$8.70$9.102,421180
04$16.95$17.85—$242.5054.21%$9.60$10.2555
0114$15.65$16.65—$245.0054.39%$10.80$11.402313
04$14.05$15.20—$247.5053.36%$11.55$12.5510936
1071,259$13.20$13.9054.35%$250.00—$13.30$13.852,24661
4164$12.05$12.8054.42%$252.50—$14.10$15.20284
1586$10.90$11.7554.30%$255.00—$15.50$16.654952
1361$9.85$10.8054.31%$257.50—$17.55$18.35560
3021,986$9.10$9.6554.24%$260.00—$18.75$19.851,53012
026$8.15$8.9054.31%$262.50—$20.15$21.552134
4029$7.25$8.1554.21%$265.00—————
04$6.65$7.3054.29%$267.50—$23.55$25.1010
851,449$6.20$6.7055.01%$270.00—$25.40$26.908643
348$4.80$5.4554.48%$275.00—$28.25$30.5525

Forward $249.97. The 25-delta put carries -0.54 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 53.43%±38.38skew +1.33
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$50.40$53.50—$200.0057.75%$1.15$1.797920
02$46.15$49.00—$205.00—————
01$41.40$44.70—$210.0055.78%$2.23$2.7338515
052$36.85$40.55—$215.0056.03%$3.10$3.651006
—————$220.0055.48%$4.00$4.657749
04$29.10$32.80—$225.0055.56%$5.20$6.0010313
1134$26.05$29.30—$230.0055.70%$6.60$7.65202217
026$22.85$26.00—$235.0053.78%$7.75$9.0011726
0140$20.05$21.35—$240.0052.43%$8.85$11.101052
525$17.75$18.75—$245.0053.66%$11.65$13.4011328
1892$15.00$16.05—$250.0053.45%$13.75$16.15852
2827$12.70$13.8553.42%$255.00—$17.35$18.80432
286$10.15$11.8052.32%$260.00—$19.85$21.857220
1630$8.85$10.1053.22%$265.00—$23.00$24.95410
340$7.90$8.6054.38%$270.00—$26.05$28.80212
3263$6.40$7.2053.95%$275.00—$30.45$32.20210
5197$5.35$6.1554.37%$280.00—$33.70$36.25150
394$4.35$5.0554.10%$285.00—$37.65$40.5530
1842$3.70$4.3554.91%$290.00—$41.90$45.15141
120$2.42$3.9554.24%$295.00—$46.30$48.9040
5173$2.80$3.3557.16%$300.00—$50.75$53.60180

Forward $250.58. The 25-delta put carries +1.33 volatility points over the 25-delta call.

2026-10-30(37 days)ATM 64.48%±51.56skew -1.35
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$200.0064.49%$2.81$3.35717
02$48.00$51.30—$205.0064.98%$3.40$4.65407
04$43.85$47.35—$210.0063.44%$4.30$5.20677515
—————$215.0064.63%$5.75$6.606331
—————$220.0064.64%$6.85$8.2531432
02$33.10$36.55—$225.0064.78%$8.30$10.003812
06$30.30$33.35—$230.0063.47%$9.75$11.35989
016$27.45$30.35—$235.0064.63%$12.05$13.60685
044$24.70$27.50—$240.0064.94%$14.15$16.00472
1819$22.10$24.85—$245.0063.86%$15.80$18.40511
6199$19.65$22.35—$250.0064.57%$18.65$21.10831
3132$17.45$20.1064.60%$255.00—$20.95$23.90310
958$15.50$17.4063.73%$260.00—$24.10$27.002227
041$13.45$14.8562.34%$265.00—$27.10$29.90140
239$12.15$13.4563.43%$270.00—$30.10$33.3551
451$10.70$12.1563.94%$275.00—$34.25$36.6511
140$8.70$11.2063.61%$280.00—$37.20$40.5540
1117$7.90$10.5065.34%$285.00—$41.85$44.5540
2033$7.00$9.2065.43%$290.00—$45.30$48.4580
1246$6.50$8.0566.13%$295.00—————
28120$5.50$6.4564.48%$300.00—$53.25$56.7520

Forward $251.13. The 25-delta put carries -1.35 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 61.68%±61.72skew +0.37
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$86.00$88.85—$165.0065.96%$1.00$1.481,9671
044$81.00$84.20—$170.0064.82%$1.29$1.741062
012$76.25$79.60—$175.0063.73%$1.68$2.0111910
023$71.80$75.15—$180.0063.61%$2.20$2.539729
084$67.40$70.75—$185.0063.60%$2.81$3.204392
17$63.80$66.45—$190.0062.98%$3.45$3.851928
023$59.05$62.30—$195.0062.87%$4.25$4.752857
0162$55.00$58.40—$200.0062.73%$5.35$5.602,47465
175$48.05$50.80—$210.0062.54%$7.75$8.005,27758
464$41.00$43.55—$220.0062.45%$10.70$11.151,21017
51,038$34.70$35.95—$230.0062.20%$14.35$14.801,66623
251,382$29.35$30.45—$240.0062.19%$18.75$19.201,78528
142,406$24.70$25.45—$250.0062.20%$23.80$24.301,85851
17701$20.05$21.2061.65%$260.00—$29.50$30.258935
351,027$16.40$17.5561.62%$270.00—$35.80$36.403224
676,801$13.55$14.4561.92%$280.00—$42.70$43.705010
9703$10.75$11.8561.65%$290.00—$49.35$51.004590
384,365$8.85$9.7062.08%$300.00—$56.25$58.753422
5345$7.00$7.9562.09%$310.00—$64.45$67.301750
10632$6.00$6.4562.92%$320.00—$73.05$76.20860
285,615$4.65$5.2062.66%$330.00—$81.95$84.652270

Forward $251.03. The 25-delta put carries +0.37 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 60.72%±74.11skew +0.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0122$87.05$90.40—$165.0061.25%$1.65$2.551380
1109$82.40$85.95—$170.0061.35%$2.35$2.993210
047$78.30$81.60—$175.0060.42%$2.45$3.852669
0119$74.35$77.35—$180.0060.24%$3.15$4.551,8150
081$69.90$73.30—$185.0059.08%$3.95$4.9048910
045$65.75$68.30—$190.0059.41%$5.00$5.902,2940
078$62.10$65.25—$195.0060.55%$6.60$7.107787
0196$58.70$61.55—$200.0060.59%$7.85$8.356247
198$51.50$54.30—$210.0060.19%$10.65$11.0563840
1270$45.10$47.70—$220.0060.38%$14.00$14.756667
2209$39.05$42.00—$230.0059.83%$17.80$18.551,3564
2286$33.65$36.50—$240.0057.87%$20.65$23.104141
6677$29.10$30.10—$250.0060.25%$27.55$28.7565911
7434$24.70$26.7060.86%$260.00—$33.15$34.607390
8395$21.00$22.1559.95%$270.00—$39.40$40.503671
24235$17.85$18.6559.74%$280.00—$46.00$47.656451
12174$14.95$15.7059.45%$290.00—$52.95$54.851261
31700$12.25$13.2559.06%$300.00—$59.25$61.758460
15234$10.65$11.2559.68%$310.00—$67.20$69.701160
6514$8.80$9.4559.52%$320.00—$75.45$78.10460
7609$7.45$7.9559.73%$330.00—$84.05$86.751030

Forward $251.46. 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.