Steepest INVERTED skew: OTM calls pricier than OTM puts, July 15, 2026
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-14, from What Is Volatility Skew? The Smile, Measured.
| ticker | otm_call_iv_pct | otm_put_iv_pct | call_over_put_points |
|---|---|---|---|
| ASTS | 169.2 | 69.9 | 99.3 |
| AEHR | 149.4 | 123.9 | 25.4 |
| RDW | 117.8 | 98.1 | 19.6 |
| AAOI | 154.9 | 136.7 | 18.3 |
| PL | 100.8 | 85.5 | 15.3 |
| MDB | 83.9 | 69.4 | 14.5 |
| UAL | 60.9 | 48 | 12.9 |
| RKLB | 103.4 | 91.4 | 12 |
- Rows × columns
- 8 × 4
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
ticker |
text | 8 distinct values (AAOI, AEHR, ASTS…) | |
otm_call_iv_pct |
number | 60.9 to 169.2 | percent |
otm_put_iv_pct |
number | 48 to 136.7 | percent |
call_over_put_points |
number | 12 to 99.3 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT underlying_symbol AS ticker,
round(100 * call_iv, 1) AS otm_call_iv_pct,
round(100 * put_iv, 1) AS otm_put_iv_pct,
round(100 * (call_iv - put_iv), 1) AS call_over_put_points
FROM (
SELECT underlying_symbol,
medianIf(implied_volatility, option_type = 'P' AND strike_price / underlying_close BETWEEN 0.85 AND 0.95) AS put_iv,
medianIf(implied_volatility, option_type = 'C' AND strike_price / underlying_close BETWEEN 1.05 AND 1.15) AS call_iv
FROM global_markets.options_greeks
WHERE date = toDate('2026-07-15') AND iv_converged AND implied_volatility BETWEEN 0.02 AND 5
AND expiration_date BETWEEN date + 20 AND date + 60
AND underlying_symbol NOT IN ('KORU','SOXL','SOXS','TQQQ','SQQQ','NVDL','NVDS','NVD','TSLL','TSLQ','TSLZ','SPXL','SPXS','UPRO','SPXU','LABU','LABD','FAS','FAZ','TNA','TZA','YINN','YANG','UDOW','SDOW','BOIL','KOLD','UCO','SCO','USD','SSO','SDS','QLD','QID','ERX','ERY','DRN','DRV','CURE','SOXY','MUU','SNXX','UVXY','SVXY','UVIX','SVIX','BULZ','WEBL','WEBS','DPST','DRIP','GUSH','AGQ','ZSL','BITX','ETHU','MSTX','MSTU','CONL','DUST','JNUG','JDST','NUGT','AMDL','NUAI','VXX','VIXY')
GROUP BY underlying_symbol
HAVING countIf(option_type = 'P' AND strike_price / underlying_close BETWEEN 0.85 AND 0.95) >= 5
AND countIf(option_type = 'C' AND strike_price / underlying_close BETWEEN 1.05 AND 1.15) >= 5
AND sum(volume) >= 2000
)
WHERE put_iv > 0 AND call_iv > 0 AND call_iv > put_iv
ORDER BY call_over_put_points DESC
LIMIT 8
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