Simplify Analytics
DE

DE

$684.73 unadjusted close, 2026-09-21
as of 2026-09-21
AAPLAMDAMZNAVGOCATCRSRCRWDDEDELLDIAGOOGINTCIWMLMTMETAMRVLMSFTMUNVDAORCLPANWPLTRQQQSMHSNDKSOXXSPCXSPYSTXWDCXLEXLFXLIXLKXLPXLUXLVXLYXOM

Implied volatility · 30-day constant maturity

level
29.4%
IV percentile
29.5%
own all (<3y) · n=242
IV rank
46.9%
own all (<1y) · n=242
range
19.5% – 40.6%
own all (<1y) · n=242
low 19.5%242 sessions, all (<1y) · today 29.4%high 40.6%

Term structure · constant maturity

22 consecutive sessions in contango (the normal upward slope).

1 calendar day out: every tenor of 1d or longer spans it Tue 09-22 13:00 ET · Federal Reserve Bank of Richmond President Thomas Barkin speaks to the CFA Society Baltimore22 calendar days out: every tenor of 2d or longer spans it Wed 09-23 09:45 ET · US Flash Services PMI (September) Wed 09-23 09:45 ET · US Flash Manufacturing PMI (September)43 calendar days out: every tenor of 3d or longer spans it Thu 09-24 08:30 ET · Economic Club of Washington, DC event with Federal Reserve Bank of Richmond President Thomas Barkin Thu 09-24 08:30 ET · Weekly Jobless Claims (September) Thu 09-24 10:00 ET · New Home Sales (August) Thu 09-24 11:00 ET · Kansas City Fed Survey (September)24 calendar days out: every tenor of 4d or longer spans it Fri 09-25 08:30 ET · Durable Goods (August) Fri 09-25 10:00 ET · U. Michigan Final Consumer Survey (September)E 11-25 time?Earnings 2026-11-25, time unknown - date stated by the vendor's estimate First session it can move: 2026-11-25, 65 calendar days from the 2026-09-21 curve - every tenor of 65d or longer spans it No expected move served for this date1d5d7d14d30d60d90d180d365d47.3%29.4%
━ 2026-09-21┅ 2026-08-20 (21 sessions earlier)◆ scheduled release, at the first tenor spanning it■ earnings, at the first session it can move (□ no expected move served)tenors in calendar days, log scale
Scheduled after the 2026-09-21 close, from the 2026-09-21 calendar snapshot (forecasts as they stood then). Each is marked with the shortest tenor, in calendar days, that spans it:
  • Tue 09-22 13:00 · 1d Federal Reserve Bank of Richmond President Thomas Barkin speaks to the CFA Society Baltimore
  • Wed 09-23 09:45 · 2d US Flash Services PMI (September) · f 55.9 · prev 56.8
  • Wed 09-23 09:45 · 2d US Flash Manufacturing PMI (September) · f 53.5 · prev 53.2
  • Thu 09-24 08:30 · 3d Economic Club of Washington, DC event with Federal Reserve Bank of Richmond President Thomas Barkin
  • Thu 09-24 08:30 · 3d Weekly Jobless Claims (September) · f 204000 · prev 196000
  • Thu 09-24 10:00 · 3d New Home Sales (August) · f 620000 · prev 607000
  • Thu 09-24 11:00 · 3d Kansas City Fed Survey (September) · prev 17
  • Fri 09-25 08:30 · 4d Durable Goods (August) · f -0.3% · prev 1.1%
  • Fri 09-25 10:00 · 4d U. Michigan Final Consumer Survey (September) · f 47.1 · prev 51.7

Earnings: 2026-11-25 time unknown, stated by the vendor's estimate, first moves the 2026-11-25 session (65d on the tenor axis), no expected move served. As the vendor's calendar stood on 2026-09-21.

90-day IV
32.8%
own all (<3y) 59.3% · n=242
slope, 30d − 90d
-3.4 pts
own all (<3y) 11.8% · n=242
variance risk premium, 30d
-1.7 pts
own all (<3y) 39.5% · n=237

Skew · risk reversal

25-delta4d old
+1.3 pts
own all (<3y) 81.4% · n=35
10-delta4d old
+8.4 pts
own all (<3y) 98.6% · n=35

Skew has been collected since 2026-07-30 only: the vendor serves no earlier history, so each percentile here is taken over all of it - the few weeks of readings there are, which the n beside it counts.

Smile by expiry: the 8 expiries within 120 DTE carrying the most open interest · book as of 2026-09-18

7d2026-09-25 · short
2026-09-25: 11 put and 15 call strikes within ±6.1%, IV 26% to 32%39%23%−6.1%book spot+6.1%
14d2026-10-02
2026-10-02: 7 put and 6 call strikes within ±8.6%, IV 24% to 31%39%23%−8.6%book spot+8.6%
21d2026-10-09
2026-10-09: 3 put and 4 call strikes within ±11%, IV 26% to 32%39%23%−11%book spot+11%
28d2026-10-16
2026-10-16: 8 put and 8 call strikes within ±12%, IV 27% to 31%39%23%−12%book spot+12%
35d2026-10-23
2026-10-23: 2 put and 4 call strikes within ±14%, IV 28% to 31%39%23%−14%book spot+14%
42d2026-10-30
2026-10-30: 4 put and 5 call strikes within ±15%, IV 29% to 33%39%23%−15%book spot+15%
91d2026-12-18
2026-12-18: 8 put and 9 call strikes within ±22%, IV 31% to 36%39%23%−22%book spot+22%
119d2027-01-15
2027-01-15: 3 put and 4 call strikes within ±25%, IV 31% to 38%39%23%−25%book spot+25%
IV against strike, out-of-the-money side. Each window widens with √DTE, to ±25% at the longest expiry, so every panel shows a comparable slice of its smile; all share one IV scale (23%–39%), set by the expiries past 7 DTE.

Expiry window · 35–65 DTE

Next earnings: 2026-11-25 time unknown, stated by the vendor's estimate, first moves the 2026-11-25 session, no expected move served. As the vendor's calendar stood on 2026-09-21.

expiryDTE28-DTE exitthesisearnings 11-25 time?
the vendor's estimate
ATM IV · 09-18expected move
2026-10-30 Friweekly392026-10-0211dclear · 26dno IV at 680—
2026-11-20 Fri602026-10-2332dclear · 5d31.3% p 680—

DTE counts calendar days from 2026-09-21, the page's date and the earliest an entry could be made - not from the 2026-09-18 book the expiries and IVs come from, which would overstate it by 3 days; an expiry first listed after 2026-09-18 is not in the book and not here. A premarket report moves its own session and a postmarket one the next; one with no stated time is placed at the earlier of the two - or at the later, once the earlier is already in the 2026-09-21 close - so an expiry can be called spanning when it might not be, never the reverse. "spans +N": the expiry settles N calendar days after that session, and the line under it says whether the 28-DTE exit comes before it ("inside the exit": that date is already behind 2026-09-21, so it protects nothing); "clear N": it settles N days before it. Thesis = DTE − 28 (the hard exit is 21), cut to the last session before a report that comes first. Every expiry in the band is listed, and one that is not a third Friday is marked weekly — §1 of the trading rules admits no weeklies and no 0DTE, so those rows are context, not candidates; the mark is the calendar test on the date alone, and a monthly pulled back to a Thursday by a holiday carries it too. ATM IV is the vendor's at the 2026-09-18 close, on the out-of-the-money side of the listed strike nearest book spot: a display selection, not a statistic, read at that one strike, so "no IV at X" is about X and not about its neighbours. The expected move is the vendor's, for the report the expiry spans. Every row links to that expiry on the strike axis below.

Chain · one strike axis

Book as of 2026-09-18: 1 session behind 2026-09-21: no DE chain statistics (net_gex) dated after 2026-09-18 are knowable as of 2026-09-21, and no ticker has newer ones. The strikes drawn below are 2026-09-18's rows as stored now; the levels and statistics are the readings dated 2026-09-18, computed from those rows when the readings were derived, and a fetch of 2026-09-18 after that can revise rows. Open interest is what entered 2026-09-18 (OCC's settlement of 2026-09-17), valued at the 2026-09-18 close.

net GEX · carried book
+$4.0m per 1%
own all (<3y) 34.6% · n=65
gamma flip
$683.25
flip within ±25% of book spot
flip distance
-0.04 ATR
own all (<3y) 85.3% · n=58
0DTE share of volume
not listed daily

book spot $683.99 (unadjusted close, 2026-09-18) · call wall $700.00 (+2.34% from book spot) · put wall $650.00 (-4.97% from book spot) · max pain $660.00 (-3.51% from book spot, 2026-10-16 monthly)

Each level is stored as a distance from the book's own spot, so each is drawn at $683.99 × (1 + that distance) - the 2026-09-18 unadjusted close, the price the chain was taken at. That is why two prices appear on this page. DE headlines $684.73, its newest unadjusted close, on 2026-09-21; the book was taken at $683.99 on 2026-09-18, because the book trails the page by the one session counted above. Both are closes, both are dated, and neither is adjusted. Recomputing a wall on the newer close would put it at a level this book never had, so none of these is: they are the 2026-09-18 book's levels, on the 2026-09-18 close.

Dashed: 7 DTE or less, where the vendor's gamma is noisy. "mp": the monthly max pain describes.

Tradability of the 2027-01-15 expiry: 116 calendar days from 2026-09-21 (119 from the book date), outside the owner's 35–65 DTE entry window. Spreads are the NBBO stored with the 2026-09-18 chain snapshot - not a live quote, and not DESIGN J's quote at a trade (per-trade quotes are not collected) - as a percent of mid; a zero or missing bid, or a crossed quote, is drawn as × for no two-sided quote. The owner's floors are marked and filter nothing: spread 10% of mid, OI 500 (no strike drawn reaches 500 on either side, before or after 2026-09-17's trading, so that line is off the panel), and the strike nearest 0.20 delta on each side - call 820 (Δ 0.20), put 600 (Δ -0.21).

call put OI carried through 2026-09-17 · opened by 2026-09-17's trading · closed by it / net GEX long / short gamma book spot call wall put wall max pain gamma flipfloors, marked not filtered: spread 10% of mid · OI 500 · strike nearest 0.20 delta, beside the spread panel · no two-sided quote · spread past 25%
OI changes are 2026-09-17's trading; volume is 2026-09-18's.◀ put OIcall OI ▶entering 2026-09-18◀ put volcall vol ▶traded 2026-09-18◀ putcall ▶spread, % of mid− net GEX+$ per 1% move840820800780760740720700680660640620600580560540530520put strike nearest 0.20 delta: 600call strike nearest 0.20 delta: 8204940494101025%10%10%25%-$540k+$540kcall wall 700book spot 683.99γ flip 683.25put wall 650strike 840 calls: OI 25 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 6.20 × 14.40, spread 79.6% of mid · Δ 0.16 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 157.00 × 165.00, spread 5.0% of mid · Δ -0.90 net GEX +$22k per 1% (calls +$22k, puts +$0)strike 820 calls: OI 35 (+0) · vol 1 (at ask 0, at bid 1, multi-leg 1) · NBBO 9.00 × 17.00, spread 61.5% of mid · Δ 0.20 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 139.00 × 146.00, spread 4.9% of mid · Δ -0.87 net GEX +$35k per 1% (calls +$35k, puts +$0)strike 800 calls: OI 220 (+1) · vol 0 (at ask 0, at bid 0) · NBBO 14.70 × 20.30, spread 32.0% of mid · Δ 0.24 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 122.00 × 128.50, spread 5.2% of mid · Δ -0.83 net GEX +$240k per 1% (calls +$240k, puts +$0)strike 780 calls: OI 212 (-1) · vol 0 (at ask 0, at bid 0) · NBBO 17.20 × 23.90, spread 32.6% of mid · Δ 0.28 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 106.00 × 114.00, spread 7.3% of mid · Δ -0.77 net GEX +$252k per 1% (calls +$252k, puts +$0)strike 760 calls: OI 423 (+1) · vol 10 (at ask 10, at bid 0, multi-leg 10) · NBBO 22.30 × 29.10, spread 26.5% of mid · Δ 0.33 puts: OI 0 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 90.60 × 98.50, spread 8.4% of mid · Δ -0.71 net GEX +$540k per 1% (calls +$540k, puts +$0)strike 740 calls: OI 200 (+0) · vol 1 (at ask 1, at bid 0) · NBBO 28.10 × 34.80, spread 21.3% of mid · Δ 0.38 puts: OI 4 (+0) · vol 2 (at ask 2, at bid 0) · NBBO 76.00 × 84.00, spread 10.0% of mid · Δ -0.65 net GEX +$262k per 1% (calls +$268k, puts -$6k)strike 720 calls: OI 273 (+5) · vol 0 (at ask 0, at bid 0) · NBBO 33.50 × 42.20, spread 23.0% of mid · Δ 0.43 puts: OI 65 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 63.00 × 71.20, spread 12.2% of mid · Δ -0.59 net GEX +$278k per 1% (calls +$381k, puts -$103k)strike 700 calls: OI 366 (-1) · vol 5 (at ask 2, at bid 3, multi-leg 5) · NBBO 43.40 × 48.50, spread 11.1% of mid · Δ 0.49 puts: OI 114 (+0) · vol 5 (at ask 2, at bid 3, multi-leg 5) · NBBO 51.20 × 59.60, spread 15.2% of mid · Δ -0.52 net GEX +$330k per 1% (calls +$513k, puts -$183k)strike 680 calls: OI 361 (+0) · vol 3 (at ask 0, at bid 3) · NBBO 52.90 × 59.40, spread 11.6% of mid · Δ 0.55 puts: OI 73 (+44) · vol 0 (at ask 0, at bid 0) · NBBO 41.30 × 49.70, spread 18.5% of mid · Δ -0.45 net GEX +$380k per 1% (calls +$493k, puts -$113k)strike 660 calls: OI 271 (+1) · vol 0 (at ask 0, at bid 0) · NBBO 62.30 × 70.00, spread 11.6% of mid · Δ 0.61 puts: OI 90 (+11) · vol 0 (at ask 0, at bid 0) · NBBO 32.00 × 40.70, spread 23.9% of mid · Δ -0.39 net GEX +$223k per 1% (calls +$356k, puts -$133k)strike 640 calls: OI 269 (+0) · vol 1 (at ask 1, at bid 0) · NBBO 75.10 × 83.00, spread 10.0% of mid · Δ 0.67 puts: OI 156 (+16) · vol 0 (at ask 0, at bid 0) · NBBO 25.40 × 32.60, spread 24.8% of mid · Δ -0.32 net GEX +$114k per 1% (calls +$326k, puts -$211k)strike 620 calls: OI 494 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 89.50 × 96.10, spread 7.1% of mid · Δ 0.72 puts: OI 191 (+18) · vol 0 (at ask 0, at bid 0) · NBBO 19.10 × 26.10, spread 31.0% of mid · Δ -0.27 net GEX +$308k per 1% (calls +$541k, puts -$233k)strike 600 calls: OI 319 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 102.50 × 110.00, spread 7.1% of mid · Δ 0.76 puts: OI 289 (+0) · vol 5 (at ask 0, at bid 5, multi-leg 5) · NBBO 13.90 × 20.70, spread 39.3% of mid · Δ -0.21 net GEX +$4k per 1% (calls +$312k, puts -$307k)strike 580 calls: OI 128 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 118.10 × 126.00, spread 6.5% of mid · Δ 0.80 puts: OI 311 (+76) · vol 5 (at ask 0, at bid 0, multi-leg 5) · NBBO 9.70 × 16.80, spread 53.6% of mid · Δ -0.17 net GEX -$172k per 1% (calls +$109k, puts -$281k)strike 560 calls: OI 135 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 136.00 × 142.90, spread 4.9% of mid · Δ 0.84 puts: OI 209 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 5.50 × 12.20, spread 75.7% of mid · Δ -0.13 net GEX -$57k per 1% (calls +$98k, puts -$155k)strike 540 calls: OI 163 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 153.30 × 160.00, spread 4.3% of mid · Δ 0.86 puts: OI 208 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 4.00 × 8.70, spread 74.0% of mid · Δ -0.10 net GEX -$23k per 1% (calls +$101k, puts -$124k)strike 530 calls: OI 82 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 162.10 × 169.00, spread 4.2% of mid · Δ 0.88 puts: OI 88 (+0) · vol 2 (at ask 1, at bid 1, multi-leg 1) · NBBO 5.00 × 7.00, spread 33.3% of mid · Δ -0.09 net GEX -$301 per 1% (calls +$46k, puts -$47k)strike 520 calls: OI 191 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 169.60 × 177.00, spread 4.3% of mid · Δ 0.89 puts: OI 219 (+0) · vol 0 (at ask 0, at bid 0) · NBBO 3.00 × 6.20, spread 69.6% of mid · Δ -0.07 net GEX -$4k per 1% (calls +$99k, puts -$102k)

2027-01-15 expiry, 18 strikes within ±25% of book spot (the flip search band); 39 hidden (8 above, 31 below), 38 of them with open interest. One row per listed strike: rows are evenly spaced, prices are not. Net GEX is this expiry's alone (+$2.9m per 1% in all); the walls, flip and headline sum every carried expiry. Volume is 2026-09-18's own - whether it opened positions shows in the 2026-09-21 book's change.

max pain $660.00 belongs to the 2026-10-16 monthly (28 days from 2026-09-18, as max_pain_expiry_dte stores it: the nearest monthly at least 7 days out), not to this expiry.

Table view · 18 strikes
putsstrikecallsGEX, $ per 1%
ΔOIOImulti-legsweep@bid@askvolΔspraskbidbidasksprΔvol@ask@bidsweepmulti-legOIΔOIputcallnet
+0000000-0.905.0%165.00157.008406.2014.4079.6%0.160000025+0+$0+$22k+$22k
+0000000-0.874.9%146.00139.008209.0017.0061.5%0.201010135+0+$0+$35k+$35k
+0000000-0.835.2%128.50122.0080014.7020.3032.0%0.2400000220+1+$0+$240k+$240k
+0000000-0.777.3%114.00106.0078017.2023.9032.6%0.2800000212-1+$0+$252k+$252k
+0000000-0.718.4%98.5090.6076022.3029.1026.5%0.3310100010423+1+$0+$540k+$540k
+0400022-0.6510.0%84.0076.0074028.1034.8021.3%0.3811000200+0-$6k+$268k+$262k
+06500000-0.5912.2%71.2063.0072033.5042.2023.0%0.4300000273+5-$103k+$381k+$278k
+011450325-0.5215.2%59.6051.2070043.4048.5011.1%0.4952305366-1-$183k+$513k+$330k
+447300000-0.4518.5%49.7041.3068052.9059.4011.6%0.5530300361+0-$113k+$493k+$380k
+119000000-0.3923.9%40.7032.0066062.3070.0011.6%0.6100000271+1-$133k+$356k+$223k
+1615600000-0.3224.8%32.6025.4064075.1083.0010.0%0.6711000269+0-$211k+$326k+$114k
+1819100000-0.2731.0%26.1019.1062089.5096.107.1%0.7200000494+0-$233k+$541k+$308k
+028950505-0.2139.3%20.7013.90600102.50110.007.1%0.7600000319+0-$307k+$312k+$4k
+7631150005-0.1753.6%16.809.70580118.10126.006.5%0.8000000128+0-$281k+$109k-$172k
+020900000-0.1375.7%12.205.50560136.00142.904.9%0.8400000135+0-$155k+$98k-$57k
+020800000-0.1074.0%8.704.00540153.30160.004.3%0.8600000163+0-$124k+$101k-$23k
+08810112-0.0933.3%7.005.00530162.10169.004.2%0.880000082+0-$47k+$46k-$301
+021900000-0.0769.6%6.203.00520169.60177.004.3%0.8900000191+0-$102k+$99k-$4k