Options Chain

Strike/expiry matrix with IV visualization

Underlying

Expiry

Spot$565

SPY — 2026-04-18

Calls				Strike	Puts
Bid	Ask	IV	Vol	Strike	Bid	Ask	IV	Vol
75.08	75.40	23.2%	2,041	495	5.08	5.40	23.2%	2,098
59.98	60.29	22.7%	3,747	510	4.98	5.29	22.7%	729
49.71	50.00	21.5%	4,506	520	4.71	5.00	21.5%	2,379
39.65	39.94	21.2%	1,933	530	4.65	4.94	21.2%	2,749
29.48	29.76	20.5%	3,990	540	4.48	4.76	20.5%	2,993
14.15	14.40	18.9%	951	555	4.15	4.40	18.9%	4,543
4.12	4.37	18.8%	333	565ATM	4.12	4.37	18.8%	4,251
4.30	4.56	19.6%	4,107	575	14.30	14.56	19.6%	4,014
4.40	4.68	20.1%	1,368	590	29.40	29.68	20.1%	961
4.58	4.87	20.9%	3,869	600	39.58	39.87	20.9%	841
4.66	4.94	21.2%	826	610	49.66	49.94	21.2%	2,297
4.97	5.27	22.7%	1,654	620	59.97	60.27	22.7%	2,103
5.22	5.55	23.8%	3,166	635	75.22	75.55	23.8%	1,195

Payoff at Expiry

ATM straddle example — Buy 565 call + put

Low IV (<15%)

Mid IV (~30%)

High IV (>50%)

DisconnectedMar 30, 2026Gradient v0