Options Skew Analytics

VXX option chain

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

Data as of 23 September 2026 (end of day)

2026-11-20(58 days)ATM 64.71%±4.53skew -29.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$6.60$9.45—$10.00—————
019$3.55$4.05—$14.00—————
1101$2.35$3.25—$15.0049.71%$0.30$0.4715,73246
0220$2.25$2.53—$16.0054.51%$0.75$0.841,1806
13338$1.86$2.00—$17.0059.88%$1.29$1.4434832
541,879$1.51$1.6764.12%$18.00—$1.94$2.1086417
17390$1.24$1.4067.73%$19.00—$2.63$2.862612
3621,910$1.15$1.2875.09%$20.00—$3.40$3.701,1030
0135$0.95$1.1177.72%$21.00—$4.20$4.551010
0481$0.76$0.9178.31%$22.00—$4.80$5.3522413
52,477$0.74$0.8584.19%$23.00—$5.95$6.451130
41202$0.59$0.7685.61%$24.00—$6.70$7.402550
271,068$0.56$0.7089.71%$25.00—$7.65$8.3010
—————$26.00—$7.65$10.60110
024$0.42$0.6295.09%$27.00—$9.45$11.7530
089$0.42$0.62100.14%$28.00—$10.75$11.65304
07$0.39$0.55101.91%$29.00—————
0626$0.36$0.49103.51%$30.00—————
21187$0.34$0.42104.65%$31.00—————
04$0.30$0.49109.67%$32.00—————
42133$0.25$0.37114.01%$35.00—$16.90$18.7050

Forward $17.57. The 25-delta put carries -29.68 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 69.68%±5.93skew -34.74
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
211$6.35$8.45—$10.00—————
015$4.45$5.25—$13.00—————
30723$3.10$3.45—$15.0055.15%$0.67$0.822,29922
041$2.64$3.20—$16.0059.15%$1.12$1.35834
45212$2.29$2.52—$17.0064.24%$1.71$2.0332472
29341$1.93$2.2267.98%$18.00—$2.39$2.7193955
12183$1.66$1.9671.04%$19.00—$2.91$3.452360
1481,087$1.50$1.7274.43%$20.00—$3.85$4.101,2741
0182$1.29$1.5777.14%$21.00—$4.35$5.051360
2134$1.10$1.4779.87%$22.00—$5.40$5.902030
152287$1.06$1.2582.19%$23.00—$6.10$6.802580
5471$0.92$1.2185.11%$24.00—$7.25$7.652220
71,216$0.87$1.0687.05%$25.00—$8.10$8.601,1040
080$0.77$1.0489.89%$26.00—$9.15$9.45710
561$0.65$0.9891.11%$27.00—$9.95$10.45960
0182$0.59$0.9293.05%$28.00—$10.65$11.40420
1228$0.55$0.8795.25%$29.00—$11.10$13.15140
2829$0.59$0.7898.03%$30.00—$12.85$13.157060
—————$31.00—$13.20$14.40330
—————$32.00—$13.65$16.65310
—————$33.00—$14.00$18.00160

Forward $17.52. The 25-delta put carries -34.74 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 72.13%±7.12skew -24.02
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$6.50$8.75—$10.00—————
02$5.80$7.45—$11.00—————
03$4.85$6.05—$12.00—————
05$3.90$5.75—$13.00—————
07$3.85$4.45—$14.0055.68%$0.51$0.751,7195
0104$3.45$3.95—$15.0060.46%$0.96$1.2290844
020$3.00$3.35—$16.0062.82%$1.45$1.7156656
0119$2.66$3.05—$17.0067.10%$2.05$2.4033812
1222$2.35$2.6668.24%$18.00—$2.55$3.104960
1339$2.09$2.4671.92%$19.00—$3.35$3.751,85012
323,000$1.87$2.1072.80%$20.00—$4.15$4.605295
0137$1.64$2.0676.65%$21.00—$4.85$5.301090
0123$1.42$1.9478.74%$22.00—$5.55$6.20550
075$1.30$1.7079.79%$23.00—$6.60$7.004,5240
088$1.17$1.5581.28%$24.00—$7.20$7.95800
1780$1.09$1.4082.90%$25.00—$8.45$8.807620
0292$1.00$1.3284.93%$26.00—$8.95$9.701060
0427$0.87$1.1584.48%$27.00—$9.75$10.652520
02,585$0.80$1.1687.44%$28.00—$10.75$11.552860
14,700$0.73$1.1088.97%$29.00—$11.70$12.502650
11,701$0.77$1.0692.45%$30.00—$12.70$13.458630

Forward $17.68. The 25-delta put carries -24.02 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 79.09%±9.84skew -23.26
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$12.0060.49%$0.42$0.68660
—————$13.0058.29%$0.65$0.835340
03$4.60$5.60—$14.0063.99%$0.99$1.51200
0158$4.15$5.05—$15.0066.24%$1.45$2.021560
049$3.85$4.40—$16.0070.05%$2.12$2.602170
512$3.40$4.25—$17.0072.11%$2.70$3.25316
0100$3.20$3.8073.79%$18.00—$3.30$3.952410
055$2.88$3.5575.46%$19.00—$4.00$4.65270
057$2.64$3.3077.15%$20.00—$4.70$5.403,3250
031$2.43$3.1579.50%$21.00—$5.45$6.2070
1104$2.31$2.8880.95%$22.00—$6.25$7.0010
067$2.07$2.7381.89%$23.00—$7.05$7.8060
022$1.91$2.5683.00%$24.00—$7.75$8.6510
0123$1.76$2.3883.71%$25.00—$8.85$9.504410
09$1.63$2.2484.69%$26.00—————
042$1.51$2.1085.46%$27.00—————
053$1.40$1.9886.26%$28.00—$11.15$12.10210
013$1.31$1.8386.68%$29.00—$12.15$13.00160
251,257$1.27$1.7187.79%$30.00—$13.00$13.9520
3311$1.18$1.6488.68%$31.00—$13.95$14.85100
234$1.10$1.5789.50%$32.00—$14.85$15.7520

Forward $17.87. The 25-delta put carries -23.26 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.