Options Skew Analytics

ZS 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 74.02%±15.51skew +3.43
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
011$20.15$22.95—$180.0081.66%$0.69$0.986239
01$17.90$20.10—$182.5081.43%$1.01$1.3053
02$15.95$17.85—$185.0079.28%$1.18$1.753563
02$13.55$16.30—$187.5078.49%$1.72$2.14172
16$12.05$13.95—$190.0075.66%$2.07$2.678351
12$10.45$11.35—$192.5075.58%$2.81$3.401830
184$8.70$9.70—$195.0074.39%$3.50$4.306825
24$7.15$8.20—$197.5074.23%$4.50$5.35135
5073$5.95$6.50—$200.0073.65%$5.65$6.50698
1959$4.80$5.6575.34%$202.50—$7.00$7.901376
3267$3.90$4.5575.20%$205.00—$8.45$9.35910
12340$2.97$3.7574.90%$207.50—$10.10$11.051430
37104$2.28$2.7172.65%$210.00—$11.80$12.90662
6775$1.64$2.1672.23%$212.50—$12.80$14.75257
229743$1.24$1.5271.06%$215.00—$14.95$17.201760
3588$0.82$1.1470.03%$217.50—$16.45$19.40967
10770$0.69$0.8971.96%$220.00—$18.75$21.252415
2831$0.50$0.7773.73%$222.50—$21.05$23.60590
—————$225.00—$23.40$25.851012
—————$227.50—$26.20$28.601370
—————$230.00—$28.90$30.851080

Forward $200.15. The 25-delta put carries +3.43 volatility points over the 25-delta call.

2026-11-20(11 days)ATM 66.56%±23.15skew +5.63
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0260$26.45$29.15—$175.0075.44%$1.49$2.3343694
0707$22.25$25.00—$180.0071.86%$2.18$2.931,58416
09$20.30$22.70—$182.5070.33%$2.65$3.3046204
5165$18.45$20.80—$185.0070.37%$3.40$3.8578023
03$16.55$18.20—$187.5068.52%$3.80$4.5071
3783$15.05$16.65—$190.0068.96%$4.75$5.301,12213
211$13.45$14.95—$192.5068.36%$5.60$6.15305
52197$11.80$13.75—$195.0066.46%$6.25$7.05628102
61$10.25$11.25—$197.5067.19%$7.60$8.15400
74779$9.15$9.75—$200.0066.92%$8.75$9.401,57367
19911$7.95$8.5066.40%$202.50—$9.20$10.80449255
16130$6.85$7.4066.03%$205.00—$11.40$12.30358100
062$5.75$6.4065.25%$207.50—$12.75$13.753721
55981$5.05$5.5565.78%$210.00—$14.10$15.5088574
1108$4.10$4.8065.00%$212.50—$16.15$17.25740
2269$3.60$4.0065.09%$215.00—$17.70$19.052240
028$2.96$3.4064.74%$217.50—$19.05$21.001060
1291,968$2.51$2.8164.57%$220.00—$21.40$22.952669
032$1.65$2.6063.49%$222.50—$22.65$25.20560
13219$1.67$2.0164.41%$225.00—$25.90$27.25730
2536$1.43$1.6764.75%$227.50—$27.10$29.45886

Forward $200.38. The 25-delta put carries +5.63 volatility points over the 25-delta call.

2026-11-27(18 days)ATM 63.16%±28.12skew +3.25
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$27.15$30.25—$175.0068.40%$2.64$3.104911
62$23.40$26.40—$180.0066.75%$3.55$4.10404
0—$21.35$24.00—$182.5064.17%$3.55$4.75—1
02$19.75$21.45—$185.0064.45%$4.40$5.452040
0—$17.95$19.90—$187.5063.50%$5.00$6.20—1
48$16.50$19.30—$190.0063.50%$5.90$7.10608
0—$14.95$16.30—$192.5062.23%$6.50$8.05—0
97$13.50$14.85—$195.0064.59%$8.30$9.201221
1—$12.10$13.60—$197.5060.75%$8.35$10.15—1
34549$11.35$11.75—$200.0063.86%$10.60$11.50481
1—$9.60$10.9563.16%$202.50—$10.65$12.85—0
9129$8.75$9.9063.81%$205.00—$12.60$14.30420
2—$7.55$8.6062.28%$207.50—$13.65$15.65—0
13163$6.75$7.7062.55%$210.00—$15.65$17.35411
2—$5.80$6.9062.21%$212.50—$17.10$18.90—0
534$5.25$6.2062.93%$215.00—$18.15$20.55172
0—$4.10$5.4561.16%$217.50—$20.95$22.80—0
442$3.75$4.7561.65%$220.00—$21.75$24.603451
1—$3.10$4.2061.20%$222.50—$23.85$26.65—1
5242$2.79$3.6561.55%$225.00—$25.75$28.652001
2—$2.26$3.2561.23%$227.50—$28.45$30.80—0

Forward $200.50. The 25-delta put carries +3.25 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 86.52%±45.43skew +4.85
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$150.0096.46%$2.02$3.3510
—————$155.0096.23%$2.85$4.15210
—————$160.0094.34%$3.65$4.9071
02$39.65$42.55—$165.0091.89%$4.65$5.55271
013$36.00$38.80—$170.0090.44%$5.95$6.45171
—————$175.0091.33%$6.90$8.80191
04$29.10$30.75—$180.0089.75%$8.65$9.95111
02$26.00$28.55—$185.0088.78%$10.60$11.50206
012$23.10$24.80—$190.0087.02%$12.15$13.553813
—————$195.0086.24%$14.35$15.75152
338$17.80$18.90—$200.0086.59%$17.00$18.40271
814$15.65$16.6586.54%$205.00—$19.65$21.00121
267$13.60$14.6586.32%$210.00—$21.90$23.85651
223$11.75$12.8085.98%$215.00—$25.95$27.0057
63$10.10$11.8587.43%$220.00—$28.65$30.55183
25$8.75$10.3087.30%$225.00—$32.05$34.05123
1131$7.50$8.4085.62%$230.00—$35.45$37.8542
013$6.35$7.7086.63%$235.00—$39.20$42.15110
35$5.35$6.7086.48%$240.00—$43.20$46.35160
258$4.60$5.4585.54%$245.00—$47.30$50.45200
2629$3.85$4.8085.77%$250.00—$51.55$54.6540

Forward $200.65. The 25-delta put carries +4.85 volatility points over the 25-delta call.

2026-12-11(32 days)ATM 82.81%±49.28skew +2.62
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$52.25$55.65—$150.00—————
—————$155.0089.82%$3.70$4.4002
—————$160.0087.70%$4.15$5.5020
01$40.00$43.65—$165.0087.08%$5.45$6.45191
01$36.90$39.70—$170.00—————
—————$180.0085.30%$9.20$11.60102
—————$185.0084.30%$11.40$12.9530
01$24.50$26.10—$190.0084.69%$13.40$15.5030
10$22.00$23.35—$195.00—————
01$19.40$20.70—$200.0083.09%$18.60$19.55522
64$17.15$18.3582.61%$205.00—$20.60$22.5510
76$15.05$16.7083.11%$210.00—$23.40$25.7510
23$13.20$14.8582.95%$215.00—$26.50$28.8041
25$11.45$13.1582.56%$220.00—$29.30$32.10120
20$10.15$11.6582.88%$225.00—$32.65$35.4560
373$8.75$10.1082.17%$230.00—$36.30$39.1092
01$7.55$9.5083.49%$235.00—$40.10$43.3060
35$6.45$7.8081.75%$240.00—————
01$4.90$7.8582.68%$245.00—$48.20$51.8570
231$4.80$6.0581.96%$250.00—$52.35$55.8020
02$3.65$5.2080.22%$255.00—————

Forward $200.98. The 25-delta put carries +2.62 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 77.82%±51.15skew +4.75
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0281$66.95$68.85—$135.0086.80%$1.56$1.802645
048$62.15$65.05—$140.0086.89%$2.05$2.4842912
0125$58.00$60.70—$145.0086.32%$2.67$3.154453
1125$53.70$56.30—$150.0085.33%$3.35$3.9030556
0317$49.75$52.20—$155.0084.76%$4.25$4.801715
0124$45.55$48.35—$160.0083.14%$5.10$5.7037665
0102$41.70$44.55—$165.0082.65%$6.40$6.8016246
0648$38.30$40.70—$170.0083.08%$7.75$8.552904
01,126$34.90$37.15—$175.0081.36%$9.05$9.8534413
81,080$31.70$33.90—$180.0080.76%$10.70$11.6051610
0280$28.60$30.90—$185.0080.32%$12.55$13.609372
12388$25.85$27.50—$190.0079.82%$14.50$15.854374
34313$23.15$24.15—$195.0079.86%$17.30$17.90304110
40740$20.65$21.50—$200.0079.13%$19.80$20.25955115
222590$16.15$16.9077.69%$210.00—$24.50$26.1532132
63639$12.60$13.5577.76%$220.00—$30.90$32.5079229
541,302$9.70$10.6077.39%$230.00—$37.50$39.6019716
82852$7.50$8.5077.97%$240.00—$45.10$47.405332
54873$5.55$6.2576.61%$250.00—$53.20$55.602755
46509$4.05$4.9076.52%$260.00—$61.35$64.20935
1231,676$3.00$3.7076.31%$270.00—$70.45$72.95610

Forward $201.05. The 25-delta put carries +4.75 volatility points over the 25-delta call.

2026-12-24(45 days)ATM 78.32%±55.31skew +3.67
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$130.0087.57%$1.34$2.1102
—————$150.0082.51%$3.50$4.6040
01$49.65$52.80—$155.00—————
—————$160.0081.01%$5.40$6.65151
—————$170.0082.00%$7.90$10.3510
10$35.50$37.85—$175.0079.02%$9.45$10.9010
—————$180.0079.10%$11.35$12.8010
—————$185.0078.13%$12.95$14.85015
210$26.70$28.40—$190.0077.64%$14.90$17.15929
20$24.05$26.60—$195.0078.33%$18.00$19.30085
100$21.65$23.40—$200.0078.85%$20.55$22.301052
262$19.30$21.7079.35%$205.00—$22.35$24.65568
182$17.30$19.0578.17%$210.00—$24.85$27.8510
150$15.30$17.4578.28%$215.00—$27.85$30.65015
574$13.45$15.4577.36%$220.00—————
150$11.80$14.3077.81%$225.00—$34.45$37.25027
—————$230.00—$38.00$40.9005
100$8.05$9.8576.48%$240.00—————
10$6.65$8.7075.35%$245.00—————
02$4.55$6.1575.75%$260.00—$62.30$65.5510
30$3.15$4.7574.62%$270.00—————

Forward $201.11. The 25-delta put carries +3.67 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 70.29%±60.87skew +4.66
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
0163$68.70$71.50—$135.0080.91%$2.84$3.955860
21,091$64.50$67.15—$140.0078.31%$3.60$4.105162
0195$60.15$62.95—$145.0078.60%$4.35$5.351,6451
0723$56.30$58.15—$150.0077.20%$5.35$6.0076210
0115$52.35$55.20—$155.0076.98%$6.25$7.4585611
0239$48.60$51.30—$160.0074.93%$7.45$8.052,3018
0153$45.20$47.45—$165.0074.64%$8.95$9.404371
1403$41.60$44.05—$170.0074.33%$10.10$11.4066433
0400$38.35$40.05—$175.0074.24%$11.80$13.301,0110
4359$35.35$37.30—$180.0073.43%$13.55$15.0534225
8373$32.30$34.40—$185.0072.94%$15.50$17.1026215
10369$29.70$31.45—$190.0072.35%$17.55$19.3052362
111,063$27.05$28.80—$195.0072.05%$19.90$21.70457244
642,599$24.60$25.70—$200.0070.90%$22.25$23.8553325
12661$20.30$21.2570.34%$210.00—$27.70$29.504250
601,282$16.65$17.6070.15%$220.00—$34.75$35.859772
431,242$13.50$15.0570.72%$230.00—$40.55$42.9098730
331,274$10.90$12.2570.29%$240.00—$47.95$50.202610
172,359$8.70$9.9569.90%$250.00—$55.85$58.152600
5908$7.00$8.0069.66%$260.00—$64.10$66.351450
14428$5.40$6.4569.12%$270.00—$72.75$74.95890

Forward $202.12. The 25-delta put carries +4.66 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.