Options Skew Analytics

ZBRA option chain

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

Data as of 9 November 2026 (end of day)

2026-11-20(11 days)ATM 43.18%±24.62skew +2.87
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$195.40$201.80—$130.00—————
02$175.30$181.90—$150.00—————
02$165.20$171.80—$160.00—————
02$150.50$156.90—$175.00—————
03$125.50$131.90—$200.00—————
012$95.50$102.00—$230.00—————
01$75.50$82.10—$250.00—————
06$65.80$72.20—$260.00—————
011$56.50$62.30—$270.00—————
04$47.20$52.60—$280.00—————
22$37.50$42.60—$290.0051.17%$0.80$1.20442
013$28.60$33.20—$300.0049.13%$1.50$2.451222
0120$21.10$22.60—$310.0046.65%$2.90$4.30470
019$13.70$15.60—$320.0045.11%$6.00$6.90915
184$8.10$10.0043.07%$330.00—$9.70$11.5010123
13121$4.60$5.2041.47%$340.00—$16.00$17.20982
0202$2.30$3.5043.78%$350.00—$20.70$25.60320
2233$1.10$1.5042.50%$360.00—$31.30$35.001651
—————$370.00—$38.70$44.902490
—————$380.00—$48.50$54.001521
—————$400.00—$68.40$74.3040

Forward $328.45. The 25-delta put carries +2.87 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 38.82%±41.90skew +7.59
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
014$124.50$133.40—$200.00—————
06$114.60$123.60—$210.00—————
07$104.80$113.30—$220.00—————
010$96.40$103.30—$230.00—————
014$86.90$93.60—$240.00—————
026$77.00$84.00—$250.00—————
032$67.90$74.80—$260.00—————
025$58.50$65.40—$270.00—————
025$49.80$56.40—$280.00—————
026$41.60$47.90—$290.00—————
045$34.40$37.40—$300.0043.51%$5.40$7.90510
013$27.70$30.40—$310.0041.44%$8.00$10.00660
06$21.30$24.20—$320.0041.23%$11.40$14.20940
042$15.60$18.50—$330.0039.63%$16.00$17.8090
270$10.80$12.3036.75%$340.00—$21.50$23.60160
126$7.40$8.6036.21%$350.00—$28.30$30.0070
229$5.00$5.8035.92%$360.00—$35.70$37.70240
018$3.20$4.0035.93%$370.00—$41.80$46.3070
1177$1.95$2.7035.89%$380.00—$50.70$54.9060
223$1.25$1.9036.51%$390.00—$59.10$64.60100
—————$400.00—$68.70$74.3020

Forward $330.15. The 25-delta put carries +7.59 volatility points over the 25-delta call.

2027-02-19(102 days)ATM 44.58%±78.48skew +3.74
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$102.00$108.00—$230.00—————
08$92.60$99.30—$240.0050.27%$2.95$4.8040
05$84.00$90.60—$250.0049.07%$3.90$6.10330
—————$260.0048.10%$5.20$7.70180
02$68.00$74.00—$270.0047.12%$6.80$9.601,5090
02$61.10$66.60—$280.0047.78%$10.60$11.6020
02$54.70$60.00—$290.0045.62%$11.40$14.603831
011$47.40$52.20—$300.0046.59%$16.30$17.8013197
—————$310.0044.81%$18.40$21.505010
01$35.60$39.80—$320.0044.31%$22.50$25.7090
036$30.40$35.00—$330.0045.27%$29.00$30.50410
08$25.80$30.3044.87%$340.00—$32.30$37.50120
02$22.40$23.6043.20%$350.00—$40.20$42.70560
122$18.30$19.9042.50%$360.00—$44.40$49.2061
09$14.80$16.7041.93%$370.00—$53.60$55.6090
08$12.20$13.9041.70%$380.00—$60.30$63.30330
020$10.60$11.6042.11%$390.00—$68.00$70.6081
1964$8.70$9.5041.88%$400.00—$76.80$78.0061
07$6.70$7.9041.44%$410.00—$81.80$87.5010
014$5.50$6.5041.46%$420.00—$91.70$96.8050
—————$430.00—$102.50$105.2030

Forward $332.98. The 25-delta put carries +3.74 volatility points over the 25-delta call.

2027-05-21(193 days)ATM 45.85%±112.41skew +5.30
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$109.10$115.00—$230.00—————
02$101.10$107.00—$240.00—————
01$93.50$99.40—$250.00—————
—————$260.0048.62%$10.60$16.7010
03$79.10$84.80—$270.0048.40%$13.60$19.4010
04$72.00$78.50—$280.0048.19%$16.90$22.5030
04$65.70$71.00—$290.0047.98%$19.60$26.9010
02$60.10$66.20—$300.00—————
03$54.80$60.50—$310.00—————
03$49.70$54.60—$320.0046.89%$32.50$38.7020
—————$330.0046.21%$36.90$43.3010
02$39.90$45.9046.30%$340.00—$42.30$49.0030
04$35.70$41.4045.91%$350.00—$48.00$54.2050
01$32.20$37.4045.81%$360.00—————
12$26.00$28.6044.66%$380.00—————
07$20.00$24.0044.66%$400.00—————
03$17.60$22.3044.94%$410.00—————
02$12.50$18.9044.56%$430.00—————
0381$10.10$15.4042.89%$440.00—————
01$9.50$15.0044.21%$450.00—————

Forward $337.19. The 25-delta put carries +5.30 volatility points over the 25-delta call.

2027-08-20(284 days)ATM 45.81%±137.62skew +3.18
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$109.00$115.10—$240.0049.53%$11.50$17.10110
41$102.00$108.00—$250.0049.71%$13.80$20.80410
62$95.00$98.10—$260.0048.31%$17.00$21.7051
27$88.20$94.40—$270.0048.00%$19.40$25.6010
64$82.00$88.00—$280.0047.60%$22.80$28.901,0005
91$76.10$82.30—$290.0047.07%$28.10$30.6032
215$70.00$75.90—$300.0046.87%$31.00$35.9010
49$65.20$70.80—$310.0047.05%$35.30$41.20220
72$60.30$65.90—$320.00—————
04$55.40$61.00—$330.0045.38%$43.80$49.2030
04$51.00$56.40—$340.00—————
04$45.30$52.5045.71%$350.00—$54.70$61.40120
03$42.30$48.9046.03%$360.00—$60.60$67.4090
023$39.00$44.8045.80%$370.00—$67.10$73.3030
210$36.00$40.5045.40%$380.00—$73.50$79.8030
05$32.00$38.2045.24%$390.00—$80.40$86.5020
55$29.00$35.0044.93%$400.00—$87.30$93.1020
0102$26.10$33.0045.01%$410.00—$94.60$100.701020
03$23.30$30.0044.51%$420.00—————
01$21.10$28.0044.56%$430.00—————
01$19.00$25.8044.42%$440.00—————

Forward $340.54. The 25-delta put carries +3.18 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.