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25Δ RR / fly from marked chain IVs. Smile is observed marks, not a fitted model. Research terminal.
Listed chain tenors only — not 7d / 30d / 90d buckets. Missing 25Δ wings or ATM stay —. Calendar is ATM IV minus front listed ATM.
| Tenor | ATM IV | 25Δ RR | 25Δ Fly | Cal vs front | Chart |
|---|---|---|---|---|---|
| 2026-09-29 | 51.2% | -2.84 pts | +1.89 pts | — | Chart |
| 2026-09-30 | 56.7% | +1.11 pts | +1.14 pts | +5.46 pts | Chart |
| 2026-10-02 | 61.4% | +2.82 pts | +1.95 pts | +10.21 pts | Chart |
| 2026-10-09 | 64.5% | +1.28 pts | +1.14 pts | +13.31 pts | Chart |
| 2026-10-30 | 69.5% | +0.27 pts | +0.54 pts | +18.32 pts | Chart |
| 2026-12-25 | — | +0.02 pts | +0.63 pts | — | Chart |
| STRIKE | MONEYNESS | CALL IV | PUT IV | SKEW SPREAD | Chart |
|---|---|---|---|---|---|
| $0.088 | 93.5% | 75.3% | 75.3% | 0.00 pts | Chart |
| $0.089 | 94.6% | 68.2% | 68.2% | 0.00 pts | Chart |
| $0.09 | 95.6% | 62.1% | 62.1% | 0.00 pts | Chart |
| $0.091 | 96.7% | 57.2% | 57.2% | 0.00 pts | Chart |
| $0.092 | 97.8% | 53.7% | 53.7% | 0.00 pts | Chart |
| $0.093 | 98.8% | 51.7% | 51.7% | 0.00 pts | Chart |
| $0.094 | 99.9% | 51.2% | 51.2% | 0.00 pts | Chart |
| $0.095 | 101.0% | 52.2% | 52.2% | 0.00 pts | Chart |
| $0.096 | 102.0% | 54.5% | 54.5% | 0.00 pts | Chart |
| $0.097 | 103.1% | 57.9% | 57.9% | 0.00 pts | Chart |
| $0.098 | 104.1% | 62.0% | 62.0% | 0.00 pts | Chart |
| $0.099 | 105.2% | 66.7% | 66.7% | 0.00 pts | Chart |
| $0.1 | 106.3% | 71.9% | 71.9% | 0.00 pts | Chart |
| $0.101 | 107.3% | 77.3% | 77.3% | 0.00 pts | Chart |
| $0.102 | 108.4% | 82.9% | 82.9% | 0.00 pts | Chart |
| $0.104 | 110.5% | 94.5% | 94.5% | 0.00 pts | Chart |
| $0.106 | 112.6% | 106.1% | 106.1% | 0.00 pts | Chart |