Options Skew Analytics

WM 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 22.33%±18.63skew +0.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$67.10$71.10—$140.00—————
02$37.70$40.30—$170.00—————
—————$180.0025.29%$0.50$0.65112
—————$185.0024.76%$0.80$1.15522
—————$190.0023.62%$1.30$1.654715
—————$195.0022.79%$2.10$2.458820
17$12.70$13.40—$200.0022.44%$3.30$3.8012812
228$6.70$7.4022.33%$210.00—$7.50$8.00191177
2096$3.30$3.5022.29%$220.00—$13.60$14.60506
77141$1.20$1.7022.38%$230.00—$22.10$23.80621
—————$240.00—$29.90$34.0001

Forward $209.30. The 25-delta put carries +0.14 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 21.14%±21.47skew +0.84
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$102.00$106.20—$105.00—————
02$57.50$61.60—$150.00—————
011$52.50$56.70—$155.00—————
022$47.60$51.80—$160.00—————
06$43.00$45.40—$165.00—————
042$38.10$40.70—$170.00—————
02$33.40$35.90—$175.0025.05%$0.55$0.90880
04$28.80$31.00—$180.0023.91%$0.85$1.20633
218$24.40$26.50—$185.0023.06%$1.25$1.75862
05$20.20$22.00—$190.0022.25%$1.95$2.403354
013$16.10$18.40—$195.0021.93%$3.00$3.501511
175$12.60$14.60—$200.0021.50%$4.40$4.9066710
085$7.70$8.5021.14%$210.00—$8.60$9.2036114
7194$4.30$4.6021.36%$220.00—$14.70$16.201608
26743$1.95$2.3021.09%$230.00—$22.20$24.40321
12744$0.95$1.1021.54%$240.00—$31.40$33.20270

Forward $209.19. The 25-delta put carries +0.84 volatility points over the 25-delta call.

2027-01-15(114 days)ATM 20.64%±24.22skew +1.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$72.50$76.20—$135.00—————
01$67.50$71.30—$140.00—————
04$62.60$66.50—$145.00—————
035$57.70$61.60—$150.00—————
06$53.00$55.50—$155.00—————
011$48.10$50.60—$160.00—————
023$43.30$45.80—$165.0025.84%$0.40$0.65500
042$38.50$41.10—$170.0025.58%$0.65$1.00620
012$34.10$36.30—$175.0024.01%$0.90$1.15580
2234$29.90$31.70—$180.0023.15%$1.30$1.551073
015$25.20$27.70—$185.0022.43%$1.80$2.201010
0115$21.20$23.60—$190.0021.97%$2.60$3.102000
094$17.30$19.40—$195.0021.34%$3.60$4.201993
299$13.90$16.50—$200.0020.95%$5.00$5.704771
7284$9.00$10.0020.68%$210.00—$9.20$10.003853
23350$5.10$5.8020.36%$220.00—$15.30$16.901862
54501$2.65$3.1020.16%$230.00—$22.30$24.801930
32384$1.15$1.8520.45%$240.00—$31.40$33.80900
3469$0.65$0.8520.72%$250.00—————
—————$260.00—$50.50$54.0030
—————$280.00—$70.20$74.0050

Forward $209.90. The 25-delta put carries +1.18 volatility points over the 25-delta call.

2027-03-19(177 days)ATM 21.32%±31.29skew +0.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
07$87.90$91.30—$120.00—————
03$73.30$77.10—$135.00—————
01$68.40$72.60—$140.00—————
08$59.00$61.40—$150.00—————
09$49.60$52.00—$160.00—————
1018$44.90$47.20—$165.00—————
03$40.40$42.90—$170.0024.76%$1.40$1.85291
026$35.90$38.50—$175.0024.27%$1.85$2.50110
018$31.70$34.20—$180.0023.49%$2.35$3.201754
—————$185.0023.19%$3.40$4.00240
013$24.10$26.50—$190.0022.22%$4.00$5.101106
05$20.70$23.00—$195.0022.33%$5.80$6.40710
031$17.50$19.90—$200.0021.77%$7.10$8.1012660
761$11.90$13.30—$210.0021.37%$11.10$12.601010
598$7.90$9.0021.27%$220.00—$17.20$18.301180
56386$5.30$5.9021.53%$230.00—$24.20$26.001220
21,102$3.30$3.6021.36%$240.00—$32.40$34.40490
4311$1.50$2.3520.86%$250.00—$41.20$44.0020
0109$0.95$1.3020.96%$260.00—————

Forward $210.77. The 25-delta put carries +0.86 volatility points over the 25-delta call.

2027-04-16(205 days)ATM 21.27%±33.62skew +1.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$45.20$47.70—$165.00—————
—————$170.0024.12%$1.50$2.3020
—————$175.0023.57%$2.10$2.8560
—————$180.0023.00%$2.65$3.7040
—————$185.0022.70%$3.50$4.8010
—————$190.0022.22%$4.60$5.9090
—————$195.0021.61%$5.90$7.1060
014$18.20$20.80—$200.0021.66%$7.60$9.1090
01$12.80$14.30—$210.0021.39%$11.90$13.5040
07$8.50$10.0021.07%$220.00—$16.90$19.3020
02$5.30$6.8020.80%$230.00—$24.40$26.7020
121$3.30$4.4020.70%$240.00—————
02$1.90$2.9520.78%$250.00—————
21$1.30$1.7520.98%$260.00—————
01$0.70$1.1521.07%$270.00—————

Forward $210.87. The 25-delta put carries +1.51 volatility points over the 25-delta call.

2027-06-17(267 days)ATM 21.45%±38.95skew +1.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$88.60$92.80—$120.00—————
02$60.70$62.90—$150.00—————
05$51.20$53.70—$160.00—————
04$46.80$49.30—$165.0024.29%$1.60$2.5030
—————$170.0024.14%$2.25$3.2010
—————$175.0023.61%$2.90$3.90120
—————$180.0023.17%$3.70$4.80460
03$30.70$32.80—$185.0022.82%$4.80$5.8074
2738$28.20$28.90—$190.0022.50%$6.10$7.00550
019$23.80$26.40—$195.0022.26%$7.30$8.80140
139$20.70$23.30—$200.0022.13%$9.10$10.60420
019$15.20$17.70—$210.0021.99%$13.30$15.20390
055$10.70$12.5021.09%$220.00—$18.60$20.80810
6107$7.50$8.8020.86%$230.00—$25.10$27.60130
5423$5.00$6.4020.91%$240.00—$32.70$35.4010
3149$3.50$4.2020.83%$250.00—$41.70$44.30100
418$2.30$2.8520.84%$260.00—$50.50$53.9030
045$1.40$2.1521.11%$270.00—————

Forward $212.27. The 25-delta put carries +1.60 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.