Options Skew Analytics

XBI 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 39.29%±6.47skew +2.55
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
171$7.35$9.55—$149.00—————
22$6.80$9.10—$149.50—————
36206$7.40$8.55—$150.0045.91%$0.50$0.73131118
88106$6.60$7.70—$151.0043.21%$0.52$0.8449128
1526$4.95$7.10—$152.0042.45%$0.74$0.967143
1173$5.40$6.05—$152.5044.66%$0.84$1.321738
168$5.15$6.15—$153.0041.57%$0.86$1.24192143
4648$4.45$4.85—$154.0041.13%$1.20$1.4312774
66368$3.75$4.20—$155.0040.53%$1.51$1.73961
20491$3.05$3.60—$156.0040.90%$1.87$2.211297
107190$2.55$3.15—$157.0040.05%$2.32$2.566227
82165$2.28$2.7739.29%$157.50—$2.52$2.763113
125354$2.05$2.6139.89%$158.00—$2.83$3.05668
50148$1.64$2.0939.26%$159.00—$3.40$3.7060
352775$1.30$1.6638.93%$160.00—$4.05$4.256538
21107$1.00$1.2237.84%$161.00—$4.75$5.10121
92174$0.72$1.1239.03%$162.00—$5.00$5.80314
7945$0.65$1.0639.96%$162.50—$5.20$7.40422
—————$163.00—$5.55$8.05178
43103$0.42$0.6839.31%$164.00—$6.50$8.801010
19216$0.31$0.4438.19%$165.00—$7.25$9.601412

Forward $157.38. The 25-delta put carries +2.55 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 35.15%±9.61skew +2.15
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0—$8.35$10.75—$148.5039.52%$0.95$1.35—1
1114$7.95$10.30—$149.0037.77%$0.87$1.387092
0—$7.55$9.90—$149.50—————
12494$8.40$9.50—$150.0038.33%$1.22$1.571,7012,173
156$7.45$8.70—$151.0037.64%$1.43$1.7689011
193$7.05$7.60—$152.0036.83%$1.53$2.094831,004
3310$6.65$7.35—$152.5040.69%$1.79$2.883120
5958$5.85$7.20—$153.0037.24%$2.04$2.301,3842
2132$5.75$6.25—$154.0037.44%$2.40$2.701856
8903$5.05$5.85—$155.0036.45%$2.64$3.0559940
68181$4.30$5.10—$156.0036.64%$3.15$3.451941
25220$3.95$4.40—$157.0036.41%$3.65$3.85107846
179237$3.45$3.6034.88%$158.00—$4.15$4.3510429
8139$3.00$3.6036.90%$159.00—$4.50$5.052442
5862,224$2.41$3.1035.59%$160.00—$4.65$5.651280
5602$2.21$2.8737.04%$161.00—$5.75$6.2524839
0682$1.76$2.3435.47%$162.00—$6.05$6.856330
7738$1.58$2.0536.08%$163.00—$7.15$7.5590
51,184$1.28$1.7235.49%$164.00—$7.55$8.50640
1175,556$1.13$1.3234.92%$165.00—$8.05$10.451240
5227$0.94$1.2936.04%$166.00—$8.90$11.20290

Forward $157.43. The 25-delta put carries +2.15 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 33.96%±11.87skew +2.98
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$8.90$11.25—$149.00—————
—————$149.5036.12%$1.50$2.3410
02$8.85$10.25—$150.0035.77%$1.68$2.36372
09$8.40$9.10—$151.0034.56%$1.80$2.55180
010$7.65$8.65—$152.0035.36%$2.27$2.92100
0133$6.90$8.40—$152.5035.13%$2.23$3.2530
28$6.75$7.75—$153.0034.38%$2.45$3.20240
021$6.50$7.15—$154.0037.45%$2.93$4.30150
453$5.35$6.75—$155.0034.56%$3.25$4.05751
029$5.10$6.00—$156.0033.47%$3.55$4.352340
0121$4.70$5.45—$157.0035.41%$4.20$5.2096
272$4.05$5.2033.40%$157.50—$4.20$5.151260
0104$4.00$4.9534.03%$158.00—$4.45$5.2560
010$3.70$4.3534.02%$159.00—$5.20$6.0010653
3107$3.00$4.0533.41%$160.00—$5.70$6.30589
134$2.94$3.6034.36%$161.00—$6.00$8.15260
06$2.48$3.2033.79%$162.00—$7.05$7.7020
165$2.04$3.0532.78%$162.50—$6.95$7.80180
38$1.88$2.9332.91%$163.00—$7.30$9.7050
217$1.87$2.4633.31%$164.00—$8.45$9.1590
028$1.49$2.2733.14%$165.00—$9.10$9.70480

Forward $157.45. The 25-delta put carries +2.98 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 33.63%±13.88skew +2.31
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$10.80$13.35—$147.50—————
—————$150.0035.19%$2.18$3.05173
01$7.60$9.60—$152.0036.43%$2.89$4.0583
03$7.60$9.15—$152.5034.77%$2.86$3.9520
02$7.65$8.70—$153.0034.47%$3.05$4.052826
10$7.30$8.20—$154.00—————
74$6.10$7.55—$155.0034.93%$3.95$4.9532
02$5.85$6.95—$156.0034.12%$4.30$5.25347
—————$157.0035.14%$4.95$5.90024
03$4.60$6.35—$157.50—————
03$4.75$5.9533.54%$158.00—$5.15$6.20123
07$4.60$5.3534.05%$159.00—$5.95$7.60080
920$4.25$4.9034.23%$160.00—$6.55$7.40109
041$3.50$4.5533.32%$161.00—$6.70$7.802626
144$3.35$4.0033.47%$162.00—————
011$3.25$3.9033.96%$162.50—————
02$2.58$3.8032.59%$163.00—$8.10$9.00613
03$2.49$3.5033.41%$164.00—$8.55$9.90731
013$2.46$3.1534.14%$165.00—$9.80$10.55041
22$1.90$2.8132.93%$166.00—$10.45$11.0030
02$1.58$2.6232.88%$167.00—$10.80$13.25130

Forward $157.67. The 25-delta put carries +2.31 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 34.28%±15.98skew +4.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$143.0036.91%$1.29$2.103011
—————$144.0035.93%$1.41$2.1650
—————$145.0036.12%$1.68$2.3953
—————$147.5036.10%$2.12$3.2510
—————$148.0035.50%$2.28$3.2061
02$10.95$12.15—$149.00—————
—————$150.0037.13%$2.88$4.4021
—————$151.0035.94%$3.25$4.351213
02$8.70$10.20—$152.0034.62%$3.40$4.5012
060$8.05$8.90—$154.00—————
460$6.90$8.35—$155.0033.46%$4.45$5.5550
010$6.65$7.70—$156.00—————
110$6.30$7.15—$157.00—————
—————$158.00—$5.75$6.95010
03$4.85$5.7034.59%$160.00—$7.15$8.451111
—————$164.00—$9.50$10.3040
23$2.78$3.5532.74%$165.00—————
—————$166.00—$10.20$12.70010
03$1.67$2.7831.80%$168.00—————
30$1.78$2.2133.18%$170.00—————
40$0.94$1.3032.71%$175.00—————

Forward $157.47. The 25-delta put carries +4.30 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 32.39%±16.71skew +2.14
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
088$12.05$13.50—$148.0034.76%$2.66$3.506,766150
1270$11.85$12.70—$149.0034.22%$3.00$3.602170
73,576$11.15$12.50—$150.0034.04%$3.35$3.853,56412
0220$10.05$11.30—$151.0035.63%$3.55$4.957124
0146$9.45$10.65—$152.0034.54%$3.80$5.054478
389$9.10$10.05—$153.0035.44%$3.90$6.101134
0343$8.70$9.40—$154.0036.32%$4.80$6.40984
1561,480$7.90$8.35—$155.0033.69%$5.10$5.9595441
17728$7.30$7.95—$156.0033.86%$5.45$6.609726
54407$6.90$7.30—$157.0033.67%$6.15$6.8010923
24366$6.15$7.1532.87%$158.00—$6.40$7.256528
36477$5.75$6.4032.32%$159.00—$6.90$7.855433
812,065$5.35$6.0032.50%$160.00—$7.70$8.154,137288
42380$5.05$5.7533.19%$161.00—$8.30$8.853967
47339$4.50$5.3032.66%$162.00—$8.35$9.80380
69352$4.35$4.9033.14%$163.00—$9.20$10.0006
64353$3.95$4.4032.63%$164.00—$10.15$10.651811
1152,721$3.40$4.1532.25%$165.00—$10.05$11.602,5711
40290$3.10$3.8532.28%$166.00—————
57448$3.00$3.4532.48%$167.00—$12.25$13.55370
379349$2.66$3.3032.62%$168.00—$12.90$13.65360

Forward $157.82. The 25-delta put carries +2.14 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 34.11%±23.06skew +0.45
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
062$20.70$23.10—$138.0034.63%$1.93$2.413548
0109$19.90$22.35—$139.0034.74%$2.16$2.643,2553,003
111,011$20.20$21.35—$140.0034.33%$2.25$2.853,36921
031$18.50$20.70—$141.0034.38%$2.49$3.103,0942
097$17.55$19.90—$142.0034.91%$2.75$3.551834
066$16.75$19.15—$143.0034.32%$3.00$3.60515
0136$16.45$18.40—$144.0034.17%$3.25$3.852724
12238$16.30$17.55—$145.0033.37%$3.40$3.951781
15100$15.10$16.90—$146.0034.01%$3.80$4.45730
0929$15.15$16.15—$147.0033.66%$4.00$4.751412
0203$14.40$15.55—$148.0033.58%$4.30$5.101332
0256$12.40$14.75—$149.0033.74%$4.95$5.251282
63,116$13.15$14.10—$150.0033.62%$5.35$5.554,98631
1,0072,491$10.40$10.80—$155.0033.40%$7.40$7.703,91760
2833,531$7.90$8.3534.15%$160.00—$9.90$10.801,25212
114,911$5.75$6.6534.22%$165.00—$12.45$13.652380
1316,179$4.25$4.5533.25%$170.00—$15.90$16.951790
0129$3.15$3.6033.09%$174.00—$18.95$19.85200
404,718$2.80$3.4532.93%$175.00—$19.25$21.70530
259$2.60$3.3533.18%$176.00—————
021$2.45$2.9832.85%$177.00—$20.75$23.3010

Forward $157.76. The 25-delta put carries +0.45 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 33.54%±31.72
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$17.25$19.25—$148.0033.27%$7.05$7.909,5020
01$16.55$18.60—$149.0033.26%$7.30$8.4518
155$15.90$18.05—$150.0035.44%$7.80$10.304480
021$15.95$17.40—$151.0035.19%$8.10$10.7050
025$15.55$16.95—$152.0035.33%$8.65$11.15750
019$13.80$16.25—$153.0034.32%$9.00$11.0061
1178$14.85$15.70—$154.0034.26%$9.30$11.6060
1061$13.00$15.15—$155.0033.89%$9.85$11.751120
0124$12.10$14.60—$156.0034.79%$10.35$12.90120
012$12.00$14.10—$157.0034.50%$10.75$13.3050
6564$12.30$13.55—$158.0034.24%$11.15$13.75800
0530$10.50$13.1032.42%$159.00—$11.75$14.30630
1320$10.05$12.6032.33%$160.00—$12.05$14.602,0760
26$10.35$12.1533.28%$161.00—$12.80$14.80120
017$10.25$11.6533.60%$162.00—$13.20$15.9060
014$9.15$12.0033.68%$163.00—$13.75$16.452,1180
03$9.45$11.3034.20%$164.00—$14.05$16.9080
071$9.20$11.0534.56%$165.00—$15.10$17.55110
03$7.50$10.5532.58%$166.00—$15.65$17.9510
029$7.05$9.6031.64%$167.00—$16.15$18.30150
06$6.70$9.3031.70%$168.00—$16.65$19.3510

Forward $158.48. Not enough surviving quotes on both wings to measure the skew here.

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.