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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 | 19.0% | -0.24 pts | +0.41 pts | — | Chart |
| 2026-09-30 | 21.0% | +0.51 pts | +0.63 pts | +2.03 pts | Chart |
| 2026-10-02 | 22.8% | -0.80 pts | -0.27 pts | +3.79 pts | Chart |
| 2026-10-09 | 24.0% | +3.14 pts | -0.54 pts | +4.99 pts | Chart |
| 2026-10-16 | 20.3% | +0.54 pts | +0.64 pts | +1.33 pts | Chart |
| 2026-10-30 | 20.8% | +1.14 pts | +0.99 pts | +1.81 pts | Chart |
| 2026-12-25 | 27.8% | +0.71 pts | +0.67 pts | +8.86 pts | Chart |
| STRIKE | MONEYNESS | CALL IV | PUT IV | SKEW SPREAD | Chart |
|---|---|---|---|---|---|
| $4080 | 98.0% | 24.8% | 24.8% | 0.00 pts | Chart |
| $4100 | 98.5% | 22.3% | 22.3% | 0.00 pts | Chart |
| $4120 | 99.0% | 20.4% | 20.4% | 0.00 pts | Chart |
| $4130 | 99.2% | 19.7% | 19.7% | 0.00 pts | Chart |
| $4140 | 99.5% | 19.3% | 19.3% | 0.00 pts | Chart |
| $4150 | 99.7% | 19.0% | 19.0% | 0.00 pts | Chart |
| $4160 | 100.0% | 19.0% | 19.0% | 0.00 pts | Chart |
| $4170 | 100.2% | 19.1% | 19.1% | 0.00 pts | Chart |
| $4180 | 100.4% | 19.5% | 19.5% | 0.00 pts | Chart |
| $4200 | 100.9% | 20.7% | 20.7% | 0.00 pts | Chart |
| $4220 | 101.4% | 22.5% | 22.5% | 0.00 pts | Chart |
| $4240 | 101.9% | 24.6% | 24.6% | 0.00 pts | Chart |
| $4260 | 102.4% | 27.1% | 27.1% | 0.00 pts | Chart |
| $4280 | 102.9% | 29.7% | 29.7% | 0.00 pts | Chart |
| $4300 | 103.3% | 32.4% | 32.4% | 0.00 pts | Chart |
| $4320 | 103.8% | 35.2% | 35.2% | 0.00 pts | Chart |
| $4340 | 104.3% | 38.0% | 38.0% | 0.00 pts | Chart |
| $4350 | 104.5% | 39.4% | 39.4% | 0.00 pts | Chart |
| $4360 | 104.8% | 40.8% | 40.8% | 0.00 pts | Chart |
| $4400 | 105.7% | 46.5% | 46.5% | 0.00 pts | Chart |