Options Skew Analytics

VXX 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 85.25%±1.70skew -39.95
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
40$4.90$5.70—$14.00—————
420$4.40$5.10—$14.50—————
14$3.85$4.70—$15.00—————
4139$3.40$4.25—$15.50—————
22254$2.85$3.40—$16.00—————
2123$2.35$3.15—$16.5082.45%$0.01$0.05825172
85995$1.89$2.48—$17.00—————
0312$1.41$2.05—$17.5061.32%$0.04$0.06435949
400730$1.08$1.39—$18.0065.78%$0.12$0.171,1203,326
54370$0.86$0.98—$18.5075.03%$0.30$0.40189286
3171,055$0.65$0.72—$19.0082.42%$0.58$0.67711364
716424$0.47$0.6393.16%$19.50—$0.86$1.05237495
1,7803,236$0.40$0.4498.67%$20.00—$1.30$1.407901,192
3671,232$0.30$0.37105.73%$20.50—$1.63$1.881501,583
4745,005$0.25$0.30113.09%$21.00—$2.06$2.36249214
1,3841,627$0.22$0.28123.96%$21.50—$2.25$2.79338111
1,6263,326$0.18$0.22128.18%$22.00—$3.05$3.30356175
4862,724$0.15$0.22137.79%$22.50—$3.15$3.7586
2,7262,913$0.14$0.17142.63%$23.00—$3.80$4.5515755
902,098$0.11$0.15147.06%$23.50—$3.85$4.70100
9683,472$0.10$0.13153.02%$24.00—$4.55$6.003513

Forward $19.06. The 25-delta put carries -39.95 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 85.95%±2.84skew -42.61
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
028$4.85$7.10—$14.00—————
17$4.40$6.60—$14.50—————
0213$3.90$6.10—$15.00—————
—————$15.5059.20%$0.01$0.021042
2716$2.85$4.05—$16.0056.00%$0.02$0.031,89279
028$2.40$3.20—$16.5058.54%$0.05$0.08172126
57754$2.01$2.55—$17.0061.14%$0.12$0.1639,5706,731
3165$1.65$2.42—$17.5063.22%$0.20$0.3120870
2332,647$1.42$1.72—$18.0069.80%$0.44$0.5021,0892,178
6156$1.13$1.40—$18.5070.73%$0.58$0.7748518
2783,827$0.95$1.17—$19.0079.30%$0.98$1.071,084312
13681$0.82$1.1590.36%$19.50—$1.12$1.4442754
3924,389$0.78$0.8290.62%$20.00—$1.68$1.822,258133
8782$0.64$0.7293.82%$20.50—$1.99$2.225852
164734$0.56$0.6498.58%$21.00—$2.25$2.6526535
1044$0.49$0.68107.76%$21.50—$2.65$3.104523
8618,158$0.42$0.50105.84%$22.00—$3.15$3.50604352
8451$0.40$0.59118.20%$22.50—$3.60$4.00110
1662,631$0.37$0.42116.36%$23.00—$3.85$4.452162
53268$0.27$0.38123.52%$24.00—$4.50$5.453024
—————$24.50—$3.65$5.90—0

Forward $19.04. The 25-delta put carries -42.61 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 82.93%±3.51skew -46.29
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
22234$3.90$5.00—$15.0055.43%$0.01$0.0351117
0182$3.40$5.65—$15.50—————
2096$2.90$4.05—$16.0056.52%$0.06$0.102202
2118$2.48$3.30—$16.50—————
23235$2.12$2.74—$17.00—————
048$1.85$2.56—$17.5061.97%$0.34$0.4760250
40246$1.60$2.13—$18.0065.16%$0.55$0.6830871
022$1.34$2.01—$18.5071.41%$0.87$0.973282
117140$1.18$1.36—$19.0073.28%$1.08$1.3111137
42130$1.03$1.4484.39%$19.50—$1.19$1.712013
64378$0.93$1.2286.48%$20.00—$1.83$2.009098
2791$0.77$1.1890.82%$20.50—$1.99$2.444772
4373$0.69$0.9690.88%$21.00—$2.30$2.85273
6101$0.63$1.0399.84%$21.50—$2.83$3.303216
6158$0.61$0.8199.87%$22.00—$3.15$3.80710
3169$0.56$0.70101.67%$22.50—————
8768$0.50$0.75108.26%$23.00—————
—————$23.50—$3.25$5.20—0
16120$0.43$0.58111.72%$24.00—$4.80$5.5510
—————$24.50—$4.45$6.05—0
93870$0.34$0.49115.31%$25.00—$5.45$6.50500

Forward $19.08. The 25-delta put carries -46.29 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 78.63%±3.97skew -35.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$3.90$6.15—$15.00—————
0211$3.45$5.70—$15.50—————
06$2.70$3.70—$16.50—————
114$2.33$2.84—$17.0064.21%$0.31$0.481495
016$2.08$2.64—$17.5066.69%$0.51$0.644633
53146$1.78$2.26—$18.0071.23%$0.75$0.9156632
027$1.62$2.09—$18.5073.91%$0.95$1.236825
2230$1.46$1.88—$19.0078.76%$1.23$1.622432
014$1.23$1.6776.89%$19.50—$1.39$1.922613
9244$1.15$1.5682.46%$20.00—$1.87$2.278814
—————$20.50—$2.08$2.7031
6147$0.97$1.2387.28%$21.00—$2.69$3.109834
932$0.88$1.2793.73%$21.50—$2.60$3.5020
7938$0.81$0.9490.19%$22.00—$3.45$3.901332
874$0.69$1.1599.33%$22.50—————
377$0.67$0.9499.10%$23.00—$4.20$4.8080
762$0.57$0.77102.37%$24.00—————
8248$0.50$0.79111.03%$25.00—————
22$0.42$0.58110.25%$26.00—$5.95$7.6540
—————$27.00—$6.25$8.6540
—————$32.00—$11.10$13.7550

Forward $19.29. The 25-delta put carries -35.68 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 83.22%±5.17skew -35.44
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
2258$7.20$11.10—$10.00—————
074$4.95$7.00—$14.00—————
501782$4.10$4.90—$15.0059.73%$0.15$0.213,066308
1237$3.35$4.10—$16.0064.94%$0.41$0.461,650270
17452$2.65$3.20—$17.0068.72%$0.77$0.831,057275
4131,875$2.36$2.46—$18.0072.66%$1.26$1.323,6281,414
1501,188$1.86$2.0479.38%$19.00—$1.84$2.0788910
1,1542,404$1.62$1.7384.75%$20.00—$2.52$2.731,571116
17599$1.32$1.6290.27%$21.00—$3.25$3.4546283
48272$1.21$1.3594.32%$22.00—$3.85$4.3072017
25477$1.00$1.3299.70%$23.00—$4.70$5.15866167
1,156844$0.91$1.15103.29%$24.00—$5.45$6.00227163
681,797$0.81$0.93104.16%$25.00—$6.65$6.909793
6115$0.70$0.78105.22%$26.00—$7.00$7.80576
0192$0.62$0.90113.46%$27.00—$8.10$8.75860
5294$0.58$0.84117.38%$28.00—$9.10$9.70381
—————$29.00—$9.15$10.65130
881,374$0.50$0.60119.71%$30.00—$11.20$11.604131
—————$31.00—$11.65$12.60340
—————$32.00—$12.15$13.55310
—————$33.00—$12.90$14.50620

Forward $18.99. The 25-delta put carries -35.44 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 84.64%±5.68skew -35.52
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0120$3.65$6.05—$15.50—————
—————$16.0070.36%$0.48$0.71419452
—————$16.5071.17%$0.63$0.8902
05$2.75$3.95—$17.0070.87%$0.85$1.0013710
362441$2.44$2.63—$18.0074.34%$1.36$1.48637732
19$1.99$2.40—$19.0081.15%$1.92$2.28112
30$1.80$2.6890.96%$19.50—$2.08$2.651519
1311$1.74$2.0084.45%$20.00—$2.56$2.9897
01$1.45$1.9083.93%$20.50—$2.95$3.25012
011$1.49$1.9491.77%$21.00—$2.20$3.6020
206$1.30$1.9393.87%$21.50—————
13$1.27$1.9198.46%$22.00—$3.75$4.60310
10$1.07$1.7396.25%$22.50—————
390$1.13$1.5598.76%$23.00—$4.65$5.4020
31$0.96$1.44102.09%$24.00—————
710$0.86$1.37106.69%$25.00—————
0242$0.45$0.64115.25%$31.00—————

Forward $19.10. The 25-delta put carries -35.52 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 83.84%±6.89skew -35.63
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
09$7.65$11.10—$10.00—————
02$6.45$10.10—$11.00—————
02$5.70$8.65—$12.00—————
115$4.95$6.45—$14.00—————
988$3.70$5.70—$15.0067.74%$0.43$0.641,47212
298$3.50$4.40—$16.0071.62%$0.74$1.07640443
60285$3.25$3.65—$17.0072.17%$1.07$1.5041142
27,208$2.73$3.25—$18.0077.44%$1.61$2.1674722
212,126$2.39$2.93—$19.0079.54%$2.24$2.701,72333
1,5573,745$2.27$2.4382.65%$20.00—$3.05$3.3557041
15398$1.85$2.3085.13%$21.00—$3.80$4.501827
—————$22.00—$4.50$5.0020830
—————$23.00—$5.35$5.704,5822
121,194$1.29$1.4795.68%$25.00—$7.10$7.45834131
—————$26.00—$7.95$8.601192
—————$27.00—$7.15$9.402561
—————$28.00—$8.55$10.502800
—————$29.00—$9.00$11.452500
411,417$0.90$0.99107.25%$30.00—$11.60$11.905780
—————$31.00—$10.85$13.902510
—————$32.00—$12.25$13.853150

Forward $19.19. The 25-delta put carries -35.63 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.