Options Skew Analytics

WBD option chain

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

Data as of 29 September 2025 (end of day)

2025-10-03(4 days)ATM 59.73%±1.18skew -2.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
151298$5.80$5.90—$13.00—————
083$4.55$5.45—$13.50—————
1406$4.80$4.95—$14.00—————
244$4.30$4.45—$14.50—————
1161$3.55$3.95—$15.00—————
051$3.25$3.45—$15.50—————
24757$2.83$2.92—$16.00—————
58484$2.16$2.54—$16.50—————
9212$1.87$1.97—$17.0068.13%$0.03$0.051,300307
124222$1.37$1.52—$17.50—————
188838$0.91$1.17—$18.0059.27%$0.13$0.1610,4532,626
5579$0.60$0.70—$18.5058.99%$0.27$0.32809625
1,5333,867$0.39$0.4459.78%$19.00—$0.51$0.5614,8902,251
5,959566$0.19$0.2356.71%$19.50—$0.79$0.949734,947
12,94318,420$0.12$0.1462.11%$20.00—$1.23$1.324,05088
1052,215$0.06$0.0965.37%$20.50—$1.53$1.871656
3,59413,135$0.04$0.0670.82%$21.00—$1.82$2.37300
1524,527$0.01$0.0378.20%$22.00—$2.45$3.3550
1762,885$0.01$0.0396.37%$23.00—$4.10$4.2016
—————$23.50—$4.60$4.75192
—————$24.00—$4.05$6.50017

Forward $18.88. The 25-delta put carries -2.84 volatility points over the 25-delta call.

2025-10-17(18 days)ATM 61.87%±2.60skew +6.24
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
21,428$9.70$10.05—$9.00—————
15,167$8.80$9.00—$10.00135.50%$0.01$0.048,39344
02,829$7.70$8.00—$11.00—————
53,650$5.45$7.30—$12.00116.24%$0.03$0.093,22454
56,983$5.80$6.00—$13.0091.54%$0.03$0.055450
01$5.15$7.15—$13.50—————
16418,059$4.40$5.95—$14.0084.66%$0.05$0.0913,92826
11$4.30$4.85—$14.50—————
25,050$3.90$4.15—$15.0076.21%$0.09$0.137,11549
1073,262$2.85$3.15—$16.00—————
0950$2.56$2.93—$16.5068.26%$0.23$0.30154
2812,392$2.21$2.32—$17.0066.54%$0.32$0.4017,28243
2010$1.78$2.05—$17.5066.21%$0.44$0.5696433
437,262$1.31$1.65—$18.0062.71%$0.60$0.6532,901592
57616,942$0.93$1.0862.05%$19.00—$0.96$1.197,7265,223
4,16425,251$0.55$0.6059.41%$20.00—$1.45$1.775,21544
4,34220,212$0.30$0.3659.98%$21.00—$2.34$2.552180
56160,549$0.17$0.2362.47%$22.00—$2.96$3.60140
—————$23.00—$3.05$5.0060
68,320$0.04$0.0973.72%$25.00—$5.35$7.6070
—————$26.00—$6.30$8.6502

Forward $18.93. The 25-delta put carries +6.24 volatility points over the 25-delta call.

2025-10-31(32 days)ATM 65.09%±3.64
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$12.85$15.05—$5.00—————
06$6.55$8.40—$12.00—————
020$6.05$7.30—$12.50—————
02$5.60$7.50—$13.00—————
072$4.50$6.85—$13.50—————
047$4.50$5.80—$14.00—————
014$4.20$5.15—$14.50—————
—————$16.0067.77%$0.34$0.45595
—————$16.5068.49%$0.50$0.571176
062$2.20$2.98—$17.00—————
046$2.02$2.62—$17.5066.42%$0.63$1.03460
0127$1.66$2.30—$18.0066.15%$0.84$1.221201
9261$1.25$1.6066.22%$19.00—$1.32$1.735010
35353$0.73$1.0359.43%$20.00—$1.84$2.08552
—————$21.00—$2.40$2.9620
54,469$0.07$0.1277.86%$28.00—————

Forward $18.90. Not enough surviving quotes on both wings to measure the skew here.

2025-12-19(81 days)ATM 58.46%±5.23skew +11.93
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$14.55$15.25—$4.00—————
0178$13.65$14.25—$5.00—————
07$12.65$13.25—$6.00—————
0476$10.55$12.85—$7.00—————
0521$10.80$11.15—$8.0090.39%$0.03$0.058,5322
75,416$9.90$10.20—$9.00—————
05,342$8.95$9.30—$10.00—————
21,683$7.70$8.30—$11.00—————
322,778$7.10$7.30—$12.00—————
77,152$6.25$6.40—$13.0071.88%$0.32$0.3770155
020,087$5.40$5.60—$14.0069.37%$0.47$0.526,92713
8322,316$4.60$4.75—$15.0066.75%$0.66$0.713,39710
212,767$3.80$4.00—$16.0064.39%$0.90$0.962073
104,233$3.05$3.30—$17.0061.99%$1.20$1.26113103
241,983$2.56$2.67—$18.0060.56%$1.59$1.6664260
3725,634$2.04$2.1259.12%$19.00—$2.06$2.12432276
2328,335$1.62$1.6658.10%$20.00—$2.40$2.671562
225,451$1.07$1.2754.19%$21.00—$3.10$3.302080
2813,262$0.83$0.9653.96%$22.00—$3.10$3.953065
18,508$0.56$0.7252.47%$23.00—————
1084,857$0.40$0.6554.27%$24.00—————

Forward $18.99. The 25-delta put carries +11.93 volatility points over the 25-delta call.

2026-01-16(109 days)ATM 54.29%±5.65skew +9.44
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
024$16.40$19.90—$1.00—————
0171$15.90$16.75—$2.50—————
02$14.40$15.15—$4.00—————
161,893$13.75$14.05—$5.00—————
04$12.60$13.25—$6.00—————
05,140$10.50$11.65—$7.5083.52%$0.03$0.0554,7462
2777$9.85$10.15—$9.00—————
7336,124$8.55$9.20—$10.00—————
146,167$7.00$8.35—$11.0073.24%$0.19$0.256,8932
13737,558$6.85$6.95—$12.5068.04%$0.32$0.4040,50376
21,916$5.55$5.70—$14.0065.82%$0.56$0.691,7161
205104,362$4.80$4.90—$15.0062.55%$0.77$0.8518,32346
164,661$4.05$4.30—$16.0060.27%$1.04$1.091,83426
2309,993$3.10$3.20—$17.5057.65%$1.55$1.6020,17911
2893,859$2.26$2.32—$19.0055.47%$2.19$2.291,61544
7,51521,466$1.79$1.8754.13%$20.00—$2.70$2.801,1837
97,249$1.28$1.4751.33%$21.00—$3.30$3.451214
2417,956$0.90$1.0150.83%$22.50—$4.20$4.454070
—————$24.00—$4.20$6.7510
79737,540$0.33$0.4646.42%$25.00—————

Forward $19.05. The 25-delta put carries +9.44 volatility points over the 25-delta call.

2026-03-20(172 days)ATM 46.93%±6.21skew +10.80
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0280$13.65$14.25—$5.00—————
010$12.70$13.35—$6.00—————
34$11.65$12.15—$7.00—————
01,822$10.00$11.30—$8.00—————
0163$10.00$10.35—$9.00—————
02,317$9.00$9.45—$10.00—————
01,296$8.25$9.90—$11.0062.44%$0.25$0.297,1612
521,867$7.40$7.55—$12.0062.97%$0.33$0.551,5050
11,725$6.55$6.70—$13.0058.18%$0.50$0.55785152
03,126$5.70$5.90—$14.0056.40%$0.69$0.732,93210
196,606$5.00$5.15—$15.0054.91%$0.93$0.962,84510
0899$4.30$4.55—$16.0053.26%$1.19$1.253077
15,861$3.65$3.85—$17.0052.21%$1.54$1.604266
35946$2.20$3.20—$18.0050.75%$1.91$2.002150
3255$2.53$2.85—$19.0049.89%$2.36$2.4916230
152,898$2.10$2.2047.40%$20.00—$2.92$3.0580735
5913$1.66$1.8146.26%$21.00—$2.73$3.60393148
5271,679$1.29$1.6146.60%$22.00—$2.96$4.305381
10955$0.97$1.4847.22%$23.00—————
0993$0.71$1.0444.22%$24.00—————
3492,557$0.61$0.6642.46%$25.00—$4.30$7.1580

Forward $19.27. The 25-delta put carries +10.80 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.