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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 | 87.3% | -1.23 pts | +2.64 pts | — | Chart |
| 2026-09-30 | 99.6% | +2.38 pts | +1.89 pts | +12.32 pts | Chart |
| 2026-10-02 | 107.8% | +2.87 pts | +2.74 pts | +20.54 pts | Chart |
| 2026-10-09 | 112.5% | +1.11 pts | +1.23 pts | +25.20 pts | Chart |
| 2026-10-30 | 121.1% | +0.01 pts | +0.60 pts | +33.83 pts | Chart |
| 2026-12-25 | 131.6% | -0.36 pts | +0.71 pts | +44.33 pts | Chart |
| STRIKE | MONEYNESS | CALL IV | PUT IV | SKEW SPREAD | Chart |
|---|---|---|---|---|---|
| $0.24 | 93.7% | 101.2% | 101.2% | 0.00 pts | Chart |
| $0.245 | 95.6% | 94.0% | 94.0% | 0.00 pts | Chart |
| $0.25 | 97.6% | 89.3% | 89.3% | 0.00 pts | Chart |
| $0.255 | 99.5% | 87.3% | 87.3% | 0.00 pts | Chart |
| $0.26 | 101.5% | 87.8% | 87.8% | 0.00 pts | Chart |
| $0.265 | 103.4% | 90.6% | 90.6% | 0.00 pts | Chart |
| $0.27 | 105.4% | 95.2% | 95.2% | 0.00 pts | Chart |
| $0.275 | 107.3% | 101.2% | 101.2% | 0.00 pts | Chart |
| $0.28 | 109.3% | 108.2% | 108.2% | 0.00 pts | Chart |
| $0.285 | 111.2% | 115.9% | 115.9% | 0.00 pts | Chart |
| $0.29 | 113.2% | 124.1% | 124.1% | 0.00 pts | Chart |
| $0.3 | 117.1% | 141.4% | 141.4% | 0.00 pts | Chart |
| $0.31 | 121.0% | 159.0% | 159.0% | 0.00 pts | Chart |