Options Skew Analytics

XLE 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 33.73%±2.19skew +3.74
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
12$4.20$5.85—$57.00—————
02$3.75$5.80—$57.5041.90%$0.04$0.05175218
22$3.35$4.40—$58.0040.94%$0.06$0.07372495
01$2.86$4.35—$58.5040.69%$0.09$0.11223243
01$2.43$3.90—$59.0039.65%$0.13$0.15923637
21$2.35$2.90—$59.5037.98%$0.17$0.20728252
95$1.99$2.37—$60.0037.15%$0.24$0.2818,2282,624
016$1.80$1.93—$60.5036.07%$0.35$0.361,084386
1791$1.45$1.55—$61.0035.24%$0.47$0.508492,078
15947$1.08$1.22—$61.5034.56%$0.65$0.665,4602,019
9764,108$0.83$0.94—$62.0033.80%$0.85$0.881,593205
271314$0.63$0.6633.24%$62.50—$1.08$1.161,23691
379559$0.45$0.4632.85%$63.00—$1.36$1.482,0635
426519$0.30$0.3132.33%$63.50—$1.72$1.841,272113
450730$0.19$0.2031.85%$64.00—$2.06$2.49887105
6041,159$0.12$0.1331.91%$64.50—$2.42$3.1082520
805511$0.07$0.0831.72%$65.00—$2.70$3.7542633
—————$65.50—$3.40$4.001,5181
—————$66.00—$3.90$4.8071210
201,663$0.01$0.0434.83%$66.50—$4.40$5.057426
—————$67.00—$4.90$5.557867

Forward $62.02. The 25-delta put carries +3.74 volatility points over the 25-delta call.

2026-11-16(7 days)ATM 28.25%±2.43skew +4.48
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$59.0034.28%$0.18$0.2601
20$1.99$2.52—$60.0031.35%$0.32$0.3702
40$1.51$1.66—$61.0029.76%$0.56$0.6255
103$0.88$1.0528.27%$62.00—$0.94$1.0041
307$0.50$0.5927.98%$63.00—$1.46$1.5761
212$0.20$0.3126.87%$64.00—$2.15$3.00100
—————$65.00—$2.82$4.35110
—————$66.00—$3.90$5.1550
840$0.02$0.0530.46%$67.00—$4.85$6.35178
—————$68.00—$5.50$8.1020

Forward $61.99. The 25-delta put carries +4.48 volatility points over the 25-delta call.

2026-11-18(9 days)ATM 29.40%±2.86skew +3.83
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$59.0033.27%$0.25$0.3310
20$2.41$2.56—$60.0031.84%$0.44$0.50323
52$1.66$1.84—$61.0030.69%$0.71$0.7930
22$1.04$1.2429.45%$62.00—$1.10$1.19812
12$0.59$0.8028.81%$63.00—$1.63$1.73211
15$0.31$0.4528.02%$64.00—$2.26$2.4520
—————$65.00—$2.80$4.1040
—————$66.00—$3.95$4.6521
—————$67.00—$4.70$5.8530
—————$68.00—$5.65$8.1010

Forward $61.99. The 25-delta put carries +3.83 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 29.89%±3.22skew +2.24
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
012$4.40$5.65—$57.0035.02%$0.11$0.1534,636107
0—$3.65$5.80—$57.50—————
1620$3.65$4.40—$58.0033.90%$0.21$0.221,373246
0—$2.99$4.35—$58.5033.39%$0.27$0.28—86
237$2.95$3.55—$59.0032.73%$0.34$0.3526,031993
26—$2.83$3.10—$59.5032.21%$0.43$0.44—96
1496,484$2.49$2.70—$60.0031.58%$0.53$0.5529,3271,085
92—$1.96$2.33—$60.5031.18%$0.66$0.69—759
120450$1.65$1.98—$61.0030.40%$0.79$0.8513,949866
393185$1.22$1.66—$61.5030.55%$1.00$1.0614,655878
9541,075$1.30$1.37—$62.0029.99%$1.21$1.2711,1531,537
946278$1.07$1.1129.75%$62.50—$1.47$1.553,067486
1,1061,828$0.86$0.8929.50%$63.00—$1.75$1.836,327421
57212,252$0.69$0.7129.50%$63.50—$2.07$2.232,7400
12,33613,932$0.54$0.5629.43%$64.00—$2.40$2.5418,180169
4622,207$0.41$0.4429.34%$64.50—$2.77$3.4012,9394
1,55234,843$0.32$0.3529.65%$65.00—$3.20$3.8022,178239
91,619$0.25$0.2629.68%$65.50—$3.55$4.355,2960
5049,295$0.19$0.2029.86%$66.00—$4.00$4.504,86451
1,2991,424$0.14$0.1630.16%$66.50—$4.45$5.251,9860
22114,790$0.10$0.1230.15%$67.00—$4.95$5.908,21393

Forward $62.10. The 25-delta put carries +2.24 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 27.46%±3.79skew +1.40
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$57.5032.08%$0.25$0.36189220
05$3.80$4.70—$58.0030.04%$0.31$0.3319952
05$2.93$4.35—$58.50—————
02$2.51$3.95—$59.0029.14%$0.47$0.497,696136
03$2.85$3.35—$59.5028.50%$0.56$0.5940888
2134$2.76$2.92—$60.0028.15%$0.69$0.71677153
07$2.25$2.61—$60.5027.89%$0.83$0.87229290
45$2.05$2.23—$61.0027.85%$1.00$1.074,14072
131$1.71$1.91—$61.5027.35%$1.19$1.25162188
15237$1.46$1.62—$62.0027.30%$1.43$1.482,166123
483324$1.31$1.3527.75%$62.50—$1.66$1.881928
209323$1.08$1.1227.36%$63.00—$1.93$2.143,4553,001
569402$0.90$0.9327.34%$63.50—$2.24$2.4447748
348445$0.73$0.7627.14%$64.00—$2.56$2.7635415
60111$0.60$0.6227.18%$64.50—$2.84$3.652680
631429$0.48$0.5027.11%$65.00—$3.30$3.601,4886
496379$0.38$0.4227.31%$65.50—$3.65$4.001506
76458$0.30$0.4228.53%$66.00—$4.10$4.553763
—————$66.50—$4.45$5.451820
—————$67.00—$5.00$5.702279
—————$67.50—$5.45$6.656220

Forward $62.09. The 25-delta put carries +1.40 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 27.48%±4.47skew +1.68
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$4.40$6.10—$57.0033.32%$0.34$0.545425
—————$57.5032.54%$0.40$0.602041
01$3.55$5.35—$58.0029.72%$0.45$0.5149194
—————$58.5029.57%$0.54$0.6221166
—————$59.0028.81%$0.65$0.68202293
—————$59.5028.94%$0.76$0.86159203
341$2.99$3.30—$60.0028.02%$0.89$0.94263148
582$2.52$2.86—$60.5029.27%$1.05$1.28305170
124$2.31$2.51—$61.0027.52%$1.22$1.29310126
350$1.98$2.21—$61.5027.41%$1.43$1.50121131
264204$1.73$1.91—$62.0027.11%$1.65$1.7235213
216235$1.60$1.6427.68%$62.50—$1.89$2.21785
37823$1.39$1.4227.69%$63.00—$2.15$2.4178542
230364$1.17$1.2127.35%$63.50—$2.46$2.732416
111457$1.01$1.0327.40%$64.00—$2.73$3.05965
279229$0.85$0.8827.38%$64.50—$3.10$3.351193
244331$0.71$0.7427.28%$65.00—$3.40$4.251570
550165$0.58$0.6227.13%$65.50—$3.70$4.40630
108274$0.48$0.5127.05%$66.00—$4.25$5.001329
60453$0.40$0.4227.09%$66.50—$4.45$5.551760
76146$0.33$0.3527.18%$67.00—$4.90$6.801170

Forward $62.14. The 25-delta put carries +1.68 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 28.50%±5.24skew +3.26
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$57.0029.37%$0.43$0.4612088
—————$57.5028.87%$0.50$0.53724
11$4.15$5.00—$58.0028.57%$0.59$0.628062
—————$58.5030.80%$0.69$1.011166
—————$59.0028.84%$0.72$1.0316010
101$3.55$3.80—$59.5027.83%$0.94$0.997837
45$3.00$3.50—$60.0027.49%$1.08$1.14125137
—————$60.5028.64%$1.26$1.4922484
1911$2.56$2.86—$61.0028.68%$1.45$1.72282145
10$2.21$2.48—$61.5027.28%$1.64$1.78223110
210$1.98$2.19—$62.0028.04%$1.87$2.1526843
8368$1.87$1.9228.65%$62.50—$2.05$2.601156
36195$1.64$1.6928.45%$63.00—$2.38$2.61405
124129$1.43$1.4928.34%$63.50—$2.65$3.202460
2931,019$1.24$1.2828.04%$64.00—$2.88$3.251360
376246$1.07$1.1127.91%$64.50—$3.25$3.851850
1181,186$0.91$0.9527.67%$65.00—$3.65$3.951611
149287$0.78$0.8227.65%$65.50—$3.90$5.151220
1,373357$0.66$0.7027.54%$66.00—$4.20$5.502100
7931,020$0.57$0.6027.64%$66.50—$4.65$5.55880
237226$0.48$0.5127.60%$67.00—$5.05$5.95440

Forward $62.08. The 25-delta put carries +3.26 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 26.90%±5.47skew +2.03
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
078$12.10$14.00—$49.00—————
602,305$11.55$12.65—$50.00—————
112209$10.55$11.70—$51.00—————
04,361$9.10$10.25—$52.5032.82%$0.14$0.1516,51028
215,260$8.20$8.60—$54.0031.65%$0.22$0.247,537130
13,900$6.90$7.75—$55.0030.88%$0.30$0.3241,578220
02,075$6.00$6.80—$56.0030.24%$0.41$0.431,710868
4348,393$5.20$5.55—$57.5029.43%$0.64$0.6737,6196,122
21,241$3.95$4.35—$59.0028.64%$0.96$1.0223,863892
49256,695$3.50$3.60—$60.0028.04%$1.26$1.2985,3152,284
771,485$2.77$2.95—$61.0027.49%$1.61$1.649,327651
1,33129,221$2.02$2.1126.90%$62.50—$2.25$2.3473,629381
72017,588$1.42$1.4526.72%$64.00—$3.10$3.2022,75482
1,08945,995$1.09$1.1226.67%$65.00—$3.75$4.3564,208136
98117,345$0.82$0.8526.60%$66.00—$4.50$5.055,218502
1,05231,621$0.53$0.5626.78%$67.50—$5.70$6.0020,07732
18714,316$0.34$0.3627.04%$69.00—$7.05$7.801,5825
88422,147$0.25$0.2627.15%$70.00—$8.00$8.902,6071
955,966$0.17$0.1927.13%$71.00—$8.85$9.551750
5715,112$0.11$0.1227.64%$72.50—$9.70$11.50440
1,43141,662$0.05$0.0628.56%$75.00—$12.30$14.4090

Forward $62.27. The 25-delta put carries +2.03 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.