Options Skew Analytics

XLP option chain

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

Data as of 23 September 2026 (end of day)

2026-09-25(2 days)ATM 18.31%±1.12skew +0.69
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
35$32.10$34.05—$50.00—————
25$26.40$28.95—$55.00—————
01$8.15$9.55—$74.00—————
01$7.25$8.55—$75.00—————
—————$79.5025.79%$0.01$0.03650
—————$80.0021.94%$0.01$0.031470
—————$80.5020.86%$0.03$0.051430
02$1.31$1.53—$81.0019.08%$0.06$0.082,70021
142$0.92$1.09—$81.5018.64%$0.12$0.1847071
2363$0.59$0.69—$82.0018.32%$0.26$0.332,808156
26446$0.33$0.4118.31%$82.50—$0.48$0.58519241
371,663$0.16$0.2117.95%$83.00—$0.78$0.951,605263
271,866$0.07$0.1218.79%$83.50—$1.17$1.36203116
1227$0.03$0.0719.95%$84.00—$1.60$1.8663611
2251$0.02$0.0421.66%$84.50—$2.07$2.31552
9371$0.02$0.0324.62%$85.00—$2.57$2.7533112
5911$0.01$0.0225.90%$85.50—$3.05$3.3540
—————$86.00—$3.55$3.8030
—————$86.50—$4.05$4.3520

Forward $82.34. The 25-delta put carries +0.69 volatility points over the 25-delta call.

2026-10-02(9 days)ATM 15.13%±1.96skew +0.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$76.0024.59%$0.01$0.03167
—————$77.0021.90%$0.01$0.041912
—————$79.0017.51%$0.04$0.08340
—————$79.5017.03%$0.07$0.1122646
—————$80.0016.79%$0.11$0.1722466
02$1.99$2.22—$80.5015.73%$0.15$0.2210041
10$1.65$1.76—$81.0015.61%$0.25$0.3222731
04$1.27$1.40—$81.5014.99%$0.36$0.4474109
34254$0.95$1.05—$82.0014.88%$0.53$0.632,443204
1679$0.69$0.7815.15%$82.50—$0.78$0.88700182
262334$0.48$0.5414.90%$83.00—$1.04$1.1667692
16232$0.32$0.3814.98%$83.50—$1.39$1.491026
111245$0.19$0.2614.88%$84.00—$1.71$1.9616834
—————$84.50—$2.12$2.41302
6160$0.08$0.1015.15%$85.00—$2.66$2.88445
7771$0.06$0.0715.92%$85.50—$3.05$3.30460
11,860$0.01$0.0615.70%$86.00—$3.55$3.8080
146$0.01$0.0617.40%$86.50—————
356$0.01$0.0417.99%$87.00—————
054$0.01$0.0520.15%$87.50—————
0144$0.01$0.0521.72%$88.00—————

Forward $82.40. The 25-delta put carries +0.73 volatility points over the 25-delta call.

2026-10-09(16 days)ATM 14.61%±2.52skew -0.01
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$77.0019.09%$0.04$0.07216
—————$78.0017.47%$0.07$0.09186115
—————$79.0016.32%$0.11$0.16290
—————$79.5015.58%$0.14$0.20230
02$2.61$2.85—$80.0015.42%$0.22$0.26235124
1134$2.26$2.43—$80.5015.11%$0.30$0.358720
09$1.87$2.01—$81.0014.63%$0.38$0.4718247
034$1.50$1.66—$81.5014.59%$0.53$0.6311441
41,240$1.22$1.33—$82.0014.67%$0.71$0.853442
138$0.95$1.0514.61%$82.50—$0.93$1.09290133
27473$0.72$0.8214.55%$83.00—$1.19$1.331836
130307$0.53$0.5814.13%$83.50—$1.52$1.6511840
9121$0.38$0.4714.46%$84.00—$1.90$2.03386
450$0.27$0.3614.64%$84.50—$2.20$2.4222
3114$0.19$0.2614.70%$85.00—$2.62$2.91552
1455$0.13$0.1714.54%$85.50—$3.05$3.45440
028$0.09$0.1314.88%$86.00—$3.60$3.90180
1755$0.02$0.0618.10%$88.50—————
3206$0.01$0.0618.85%$89.00—————
0304$0.01$0.0620.00%$89.50—————
17$0.01$0.0520.62%$90.00—————

Forward $82.49. The 25-delta put carries -0.01 volatility points over the 25-delta call.

2026-10-16(23 days)ATM 14.45%±2.99skew +0.58
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$76.0018.50%$0.03$0.08460
—————$77.0017.31%$0.06$0.102825
03$4.55$4.80—$78.0016.34%$0.10$0.15843
06$3.60$3.90—$79.0015.55%$0.18$0.232782
023$3.25$3.45—$79.5015.63%$0.23$0.34250
16244$2.81$2.99—$80.0015.42%$0.34$0.403,604126
03$2.45$2.61—$80.5014.82%$0.40$0.50150
04$2.09$2.23—$81.0014.80%$0.56$0.621,510116
09$1.75$1.87—$81.5014.47%$0.68$0.79740
2728$1.45$1.54—$82.0014.59%$0.90$0.993,65348
25830$1.17$1.27—$82.5014.49%$1.09$1.25421195
921,636$0.94$1.0014.28%$83.00—$1.34$1.493,43117
5484$0.73$0.8214.34%$83.50—$1.63$1.8110
361,723$0.56$0.6114.05%$84.00—$2.00$2.141,09210
11116$0.42$0.5014.24%$84.50—————
894,139$0.32$0.3914.36%$85.00—$2.78$2.903,37129
1136$0.22$0.3114.37%$85.50—————
314,787$0.16$0.2114.16%$86.00—$3.60$3.80890
11$0.13$0.1714.65%$86.50—————
78505$0.10$0.1615.36%$87.00—$4.55$4.85100
21,027$0.05$0.0915.53%$88.00—————

Forward $82.55. The 25-delta put carries +0.58 volatility points over the 25-delta call.

2026-10-23(30 days)ATM 14.53%±3.44skew +0.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$75.0019.28%$0.05$0.09325
—————$77.0017.20%$0.11$0.16256
—————$78.0016.50%$0.17$0.24110
011$3.75$4.05—$79.0015.71%$0.28$0.331301
02$3.00$3.20—$80.0015.32%$0.45$0.5127120
—————$80.5014.87%$0.52$0.633317
—————$81.0015.45%$0.71$0.8418035
—————$81.5014.49%$0.79$0.952530
03$1.64$1.81—$82.0014.84%$1.06$1.152802
375$1.39$1.47—$82.5014.55%$1.24$1.3880
2450$1.14$1.2414.52%$83.00—$1.48$1.6931312
553$0.90$1.0614.51%$83.50—$1.77$1.93400
056$0.69$0.8514.19%$84.00—$2.07$2.26391
155$0.58$0.7014.48%$84.50—$2.43$2.66500
1472$0.46$0.5414.36%$85.00—$2.81$3.0544212
1152$0.29$0.4413.96%$85.50—————
3136$0.28$0.3514.56%$86.00—$3.55$3.8580
03,020$0.19$0.3014.62%$86.50—$4.05$4.4510
4579$0.17$0.2114.71%$87.00—$4.60$4.85100
2010$0.02$0.0716.68%$90.50—————
11$0.02$0.0719.93%$92.50—————

Forward $82.62. The 25-delta put carries +0.51 volatility points over the 25-delta call.

2026-10-30(37 days)ATM 15.26%±4.02skew +0.82
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$78.5015.73%$0.25$0.3820
—————$79.0015.41%$0.31$0.45150
01$3.60$3.85—$79.5015.40%$0.43$0.53110
—————$80.0015.53%$0.58$0.643372
20$2.80$3.05—$80.5014.90%$0.62$0.7730
—————$81.0015.01%$0.80$0.932141
028$2.16$2.34—$81.5014.78%$0.93$1.1280
024$1.88$2.03—$82.0014.80%$1.18$1.292816
219$1.58$1.75—$82.5015.16%$1.43$1.58271
31101$1.37$1.5115.30%$83.00—$1.69$1.86284260
815$1.09$1.2914.97%$83.50—$1.98$2.10122
132$0.94$1.0915.12%$84.00—$2.16$2.4493
116$0.74$0.8614.63%$84.50—$2.52$2.7760
335$0.60$0.7414.78%$85.00—$2.83$3.1010
14$0.46$0.6214.70%$85.50—$3.20$3.5080
0241$0.37$0.5114.77%$86.00—————
078$0.30$0.4314.96%$86.50—————
1101$0.24$0.3414.95%$87.00—$4.50$4.8010
0103$0.18$0.3015.17%$87.50—————

Forward $82.66. The 25-delta put carries +0.82 volatility points over the 25-delta call.

2026-11-20(58 days)ATM 15.39%±5.08skew +1.11
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$16.00$19.25—$65.00—————
01$7.85$8.20—$75.0017.79%$0.18$0.2221740
—————$76.0017.09%$0.23$0.29283
850$6.05$6.55—$77.0016.49%$0.31$0.38180
—————$78.0016.60%$0.49$0.541501,926
04$4.50$4.70—$79.0015.93%$0.61$0.72533
027$3.75$3.85—$80.0016.15%$0.90$1.014235
01$3.05$3.25—$81.0015.57%$1.17$1.27203
669$2.44$2.54—$82.0015.27%$1.51$1.664838
22326$1.90$2.0115.39%$83.00—$2.03$2.13304109
19152$1.39$1.5515.01%$84.00—$2.51$2.69141
10823$1.07$1.1414.97%$85.00—$3.10$3.3516127
1355$0.78$0.8715.05%$86.00—$3.90$4.1061
3713$0.51$0.6114.66%$87.00—$4.75$4.901122
1047$0.38$0.4615.00%$88.00—————
112$0.27$0.3515.29%$89.00—$5.70$7.00440
3998$0.19$0.2315.25%$90.00—————
10$0.02$0.0521.20%$100.00—————

Forward $82.87. The 25-delta put carries +1.11 volatility points over the 25-delta call.

2026-12-18(86 days)ATM 15.31%±6.18skew +1.04
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$73.0018.04%$0.17$0.242880
011$9.15$10.15—$74.0017.45%$0.21$0.307610
0178$8.30$8.70—$75.0017.60%$0.31$0.432,2275
—————$76.0017.04%$0.39$0.5319622
011$6.60$6.85—$77.0016.42%$0.51$0.628,85491
078$5.80$6.00—$78.0016.30%$0.68$0.82111,0685
034$4.95$5.30—$79.0015.95%$0.88$1.023283
0507$4.30$4.50—$80.0015.86%$1.15$1.314,69634
082$3.60$3.85—$81.0015.46%$1.45$1.591,1945
84183$3.00$3.20—$82.0015.36%$1.83$1.9975951
7272$2.43$2.60—$83.0015.36%$2.28$2.483,2720
0695$1.95$2.1115.19%$84.00—$2.86$3.1089311
82,926$1.58$1.7015.22%$85.00—$3.45$3.654,463390
02,486$1.23$1.3515.12%$86.00—$4.00$4.352,7700
01,698$0.94$1.0615.04%$87.00—$4.85$5.103050
32,883$0.73$0.7814.91%$88.00—$5.75$5.9534445
01,478$0.53$0.6114.88%$89.00—$6.50$7.00101108
03,184$0.40$0.5015.14%$90.00—$7.15$8.00480
11,173$0.32$0.3715.28%$91.00—————
0259$0.22$0.3115.45%$92.00—————
0306$0.20$0.2516.00%$93.00—————

Forward $83.14. The 25-delta put carries +1.04 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.