AZO option chain AutoZone, Inc.
Each row is one strike. The left half is the call, the right half the put. Bid/ask are what buyers and sellers currently quote; volume is contracts traded this session; open interest is standing contracts. The highlighted row sits closest to the stock price.
This expiration prices a move of about ±15.5% (2,479.67–3,389.37) · ATM IV 35.9% · P/C open interest 1.92
| CALLS | Strike | PUTS | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bid | Ask | Vol | OIThe number of option contracts currently outstanding at a strike or expiration. High open interest shows where positions are concentrated. | IV | ΔModel sensitivity of an option's price to a $1 move in the stock; also used as a rough moneyness scale (a 25-delta option is well out of the money). | Γ | Θ | Bid | Ask | Vol | OI | IV | Δ | Γ | Θ | |
| 1,460 | 1,494 | 61.8% | 0.99 | 0.0000 | 0.000 | 1,480 | 0.0500 | 18.70 | 69.3% | -0.01 | 0.0000 | -0.062 | ||||
| 1,440 | 1,474 | 61.0% | 0.99 | 0.0000 | 0.000 | 1,500 | 0.0500 | 18.80 | 1 | 68.2% | -0.01 | 0.0000 | -0.066 | |||
| 1,421 | 1,456 | 1 | 61.3% | 0.99 | 0.0000 | 0.000 | 1,520 | 1.00 | 19.00 | 1 | 67.7% | -0.01 | 0.0000 | -0.070 | ||
| 1,400 | 1,436 | 1 | 59.0% | 0.99 | 0.0000 | 0.000 | 1,540 | 0.0500 | 19.10 | 1 | 66.0% | -0.01 | 0.0000 | -0.074 | ||
| 1,382 | 1,416 | 58.9% | 0.99 | 0.0000 | 0.000 | 1,560 | 0.0500 | 19.20 | 1 | 64.9% | -0.01 | 0.0000 | -0.079 | |||
| 1,362 | 1,396 | 57.7% | 0.99 | 0.0000 | 0.000 | 1,580 | 0.0500 | 19.40 | 21 | 63.9% | -0.01 | 0.0000 | -0.084 | |||
| 1,342 | 1,377 | 56.3% | 0.99 | 0.0000 | 0.000 | 1,600 | 0.0500 | 19.50 | 2 | 62.8% | -0.01 | 0.0000 | -0.089 | |||
| 1,322 | 1,359 | 56.8% | 0.99 | 0.0000 | 0.000 | 1,620 | 0.0500 | 19.70 | 3 | 61.8% | -0.01 | 0.0000 | -0.094 | |||
| 1,307 | 1,335 | 2 | 56.6% | 0.99 | 0.0000 | 0.000 | 1,640 | 0.0500 | 19.90 | 60.8% | -0.01 | 0.0000 | -0.100 | |||
| 1,284 | 1,316 | 1 | 53.6% | 0.99 | 0.0000 | 0.000 | 1,660 | 0.0500 | 20.00 | 2 | 59.8% | -0.01 | 0.0000 | -0.106 | ||
| 1,265 | 1,296 | 4 | 53.0% | 0.99 | 0.0000 | 0.000 | 1,680 | 0.0500 | 20.00 | 2 | 1 | 58.7% | -0.01 | 0.0000 | -0.112 | |
| 1,245 | 1,276 | 51.8% | 0.99 | 0.0000 | 0.000 | 1,700 | 0.0500 | 20.00 | 3 | 57.7% | -0.01 | 0.0000 | -0.119 | |||
| 1,225 | 1,260 | 1 | 52.9% | 0.99 | 0.0000 | 0.000 | 1,720 | 0.0500 | 20.80 | 57.0% | -0.01 | 0.0000 | -0.126 | |||
| 1,205 | 1,240 | 51.5% | 0.98 | 0.0000 | 0.000 | 1,740 | 0.0500 | 21.10 | 56.1% | -0.02 | 0.0000 | -0.133 | ||||
| 1,185 | 1,220 | 1 | 50.7% | 0.98 | 0.0000 | 0.000 | 1,760 | 0.0500 | 21.40 | 55.2% | -0.02 | 0.0000 | -0.140 | |||
| 1,167 | 1,201 | 50.7% | 0.98 | 0.0001 | 0.000 | 1,780 | 0.0500 | 21.70 | 54.3% | -0.02 | 0.0001 | -0.148 | ||||
| 1,147 | 1,182 | 50.1% | 0.98 | 0.0001 | 0.000 | 1,800 | 0.0500 | 22.00 | 1 | 53.4% | -0.02 | 0.0001 | -0.157 | |||
| 1,128 | 1,162 | 49.7% | 0.98 | 0.0001 | 0.000 | 1,820 | 0.0500 | 20.10 | 51.5% | -0.02 | 0.0001 | -0.165 | ||||
| 1,108 | 1,143 | 48.6% | 0.98 | 0.0001 | 0.000 | 1,840 | 0.0500 | 20.20 | 6 | 50.6% | -0.02 | 0.0001 | -0.174 | |||
| 1,088 | 1,124 | 48.0% | 0.98 | 0.0001 | 0.000 | 1,860 | 0.0500 | 20.20 | 4 | 49.6% | -0.02 | 0.0001 | -0.184 | |||
| 1,069 | 1,106 | 2 | 48.4% | 0.97 | 0.0001 | 0.000 | 1,880 | 0.0500 | 20.00 | 2 | 48.6% | -0.03 | 0.0001 | -0.194 | ||
| 1,050 | 1,085 | 46.9% | 0.97 | 0.0001 | 0.000 | 1,900 | 0.0500 | 20.00 | 3 | 47.6% | -0.03 | 0.0001 | -0.204 | |||
| 1,031 | 1,067 | 1 | 47.0% | 0.97 | 0.0001 | 0.000 | 1,920 | 0.0500 | 20.00 | 2 | 46.6% | -0.03 | 0.0001 | -0.215 | ||
| 1,012 | 1,047 | 46.4% | 0.97 | 0.0001 | 0.000 | 1,940 | 0 | 25.20 | 1 | 47.8% | -0.03 | 0.0001 | -0.226 | |||
| 992.40 | 1,028 | 45.9% | 0.97 | 0.0001 | 0.000 | 1,960 | 0 | 25.80 | 1 | 47.0% | -0.03 | 0.0001 | -0.238 | |||
| 974.40 | 1,009 | 1 | 45.9% | 0.96 | 0.0001 | 0.000 | 1,980 | 0 | 26.40 | 7 | 46.3% | -0.04 | 0.0001 | -0.250 | ||
| 955.30 | 989.70 | 1 | 45.3% | 0.96 | 0.0001 | 0.000 | 2,000 | 0 | 27.00 | 21 | 45.5% | -0.04 | 0.0001 | -0.262 | ||
| 936.40 | 970.70 | 44.9% | 0.96 | 0.0001 | 0.000 | 2,020 | 0 | 27.70 | 10 | 44.8% | -0.04 | 0.0001 | -0.275 | |||
| 917.60 | 951.80 | 44.5% | 0.96 | 0.0001 | 0.000 | 2,040 | 0 | 28.50 | 3 | 44.1% | -0.04 | 0.0001 | -0.289 | |||
| 898.80 | 932.90 | 44.1% | 0.95 | 0.0001 | 0.000 | 2,060 | 0 | 29.40 | 2 | 43.5% | -0.05 | 0.0001 | -0.303 | |||
| 881.00 | 912.00 | 43.4% | 0.95 | 0.0001 | -0.007 | 2,080 | 3.70 | 23.50 | 41.8% | -0.05 | 0.0001 | -0.317 | ||||
| 862.30 | 892.00 | 1 | 42.6% | 0.95 | 0.0002 | -0.029 | 2,100 | 5.10 | 24.20 | 1 | 41.5% | -0.05 | 0.0002 | -0.332 | ||
| 844.00 | 874.80 | 1 | 42.8% | 0.94 | 0.0002 | -0.051 | 2,120 | 6.10 | 25.90 | 8 | 41.4% | -0.06 | 0.0002 | -0.347 | ||
| 823.80 | 857.70 | 42.4% | 0.94 | 0.0002 | -0.073 | 2,140 | 2.70 | 32.70 | 4 | 41.4% | -0.06 | 0.0002 | -0.363 | |||
| 805.10 | 840.00 | 42.2% | 0.94 | 0.0002 | -0.096 | 2,160 | 3.80 | 33.80 | 1 | 41.0% | -0.06 | 0.0002 | -0.379 | |||
| 788.00 | 822.20 | 1 | 42.3% | 0.93 | 0.0002 | -0.119 | 2,180 | 5.40 | 35.40 | 5 | 40.9% | -0.07 | 0.0002 | -0.396 | ||
| 769.30 | 804.00 | 41.9% | 0.93 | 0.0002 | -0.143 | 2,200 | 12.20 | 31.90 | 13 | 40.7% | -0.07 | 0.0002 | -0.413 | |||
| 752.00 | 786.00 | 41.8% | 0.92 | 0.0002 | -0.167 | 2,220 | 8.80 | 38.80 | 40.5% | -0.08 | 0.0002 | -0.431 | ||||
| 733.20 | 768.00 | 41.4% | 0.92 | 0.0002 | -0.192 | 2,240 | 9.10 | 39.10 | 9 | 39.7% | -0.08 | 0.0002 | -0.449 | |||
| 715.20 | 750.20 | 41.1% | 0.91 | 0.0002 | -0.216 | 2,260 | 10.20 | 40.20 | 4 | 39.2% | -0.09 | 0.0002 | -0.467 | |||
| 697.90 | 729.80 | 40.4% | 0.91 | 0.0003 | -0.242 | 2,280 | 20.00 | 39.70 | 22 | 40.0% | -0.09 | 0.0003 | -0.486 | |||
| 680.20 | 712.00 | 40.1% | 0.90 | 0.0003 | -0.267 | 2,300 | 30.00 | 33.00 | 7 | 69 | 39.6% | -0.10 | 0.0003 | -0.505 | ||
| 665.50 | 694.80 | 40.5% | 0.90 | 0.0003 | -0.293 | 2,320 | 24.60 | 44.20 | 2 | 39.7% | -0.11 | 0.0003 | -0.524 | |||
| 644.90 | 679.90 | 40.1% | 0.89 | 0.0003 | -0.319 | 2,340 | 22.10 | 52.00 | 3 | 39.5% | -0.11 | 0.0003 | -0.544 | |||
| 628.00 | 662.80 | 39.9% | 0.88 | 0.0003 | -0.345 | 2,360 | 24.40 | 54.40 | 9 | 39.2% | -0.12 | 0.0003 | -0.564 | |||
| 610.90 | 645.80 | 1 | 39.7% | 0.88 | 0.0003 | -0.372 | 2,380 | 27.30 | 57.30 | 39.1% | -0.13 | 0.0003 | -0.584 | |||
| 593.60 | 628.00 | 1 | 39.3% | 0.87 | 0.0003 | -0.398 | 2,400 | 30.20 | 60.20 | 17 | 38.9% | -0.13 | 0.0004 | -0.604 | ||
| 576.90 | 612.00 | 39.2% | 0.86 | 0.0004 | -0.425 | 2,420 | 33.00 | 63.00 | 17 | 38.6% | -0.14 | 0.0004 | -0.625 | |||
| 560.30 | 595.60 | 39.0% | 0.85 | 0.0004 | -0.452 | 2,440 | 36.30 | 66.30 | 5 | 38.5% | -0.15 | 0.0004 | -0.645 | |||
| 546.90 | 576.00 | 38.7% | 0.84 | 0.0004 | -0.478 | 2,460 | 44.60 | 64.10 | 16 | 38.2% | -0.16 | 0.0004 | -0.665 | |||
| 533.20 | 560.00 | 38.9% | 0.84 | 0.0004 | -0.505 | 2,480 | 48.10 | 67.50 | 1 | 8 | 38.0% | -0.17 | 0.0004 | -0.686 | ||
| 515.80 | 544.00 | 7 | 38.5% | 0.83 | 0.0004 | -0.531 | 2,500 | 51.60 | 71.00 | 16 | 37.8% | -0.17 | 0.0004 | -0.706 | ||
| 435.60 | 470.50 | 37.6% | 0.78 | 0.0005 | -0.660 | 2,600 | 69.50 | 99.50 | 8 | 37.2% | -0.23 | 0.0005 | -0.804 | |||
| 365.60 | 400.00 | 3 | 37.0% | 0.72 | 0.0006 | -0.775 | 2,700 | 97.10 | 127.10 | 13 | 36.4% | -0.28 | 0.0006 | -0.890 | ||
| 305.00 | 335.70 | 1 | 36.6% | 0.66 | 0.0006 | -0.869 | 2,800 | 135.50 | 161.20 | 46 | 36.0% | -0.35 | 0.0007 | -0.956 | ||
| 247.90 | 278.50 | 5 | 9 | 36.1% | 0.59 | 0.0007 | -0.936 | 2,900 | 176.60 | 206.70 | 13 | 35.6% | -0.42 | 0.0007 | -0.995 | |
| 200.20 | 227.90 | 23 | 35.8% | 0.52 | 0.0007 | -0.971 | 3,000 | 227.50 | 259.70 | 59 | 35.5% | -0.49 | 0.0007 | -1.004 | ||
| 179.50 | 208.00 | 2 | 11 | 35.9% | 0.48 | 0.0007 | -0.977 | 3,050 | 258.10 | 287.90 | 72 | 35.6% | -0.53 | 0.0007 | -0.997 | |
| 159.10 | 186.40 | 36 | 35.6% | 0.45 | 0.0007 | -0.976 | 3,100 | 286.10 | 316.00 | 307 | 35.1% | -0.56 | 0.0007 | -0.982 | ||
| 136.90 | 170.80 | 8 | 35.4% | 0.42 | 0.0007 | -0.967 | 3,150 | 316.00 | 348.00 | 9 | 34.9% | -0.60 | 0.0007 | -0.961 | ||
| 120.90 | 154.60 | 10 | 35.5% | 0.39 | 0.0007 | -0.953 | 3,200 | 350.00 | 384.90 | 332 | 35.1% | -0.63 | 0.0007 | -0.934 | ||
| 109.90 | 135.90 | 19 | 35.5% | 0.36 | 0.0007 | -0.933 | 3,250 | 388.00 | 417.60 | 19 | 35.1% | -0.66 | 0.0007 | -0.901 | ||
| 98.20 | 116.80 | 4 | 29 | 35.1% | 0.33 | 0.0006 | -0.908 | 3,300 | 425.40 | 455.70 | 6 | 35.3% | -0.69 | 0.0007 | -0.864 | |
| 89.00 | 104.50 | 14 | 35.4% | 0.30 | 0.0006 | -0.880 | 3,350 | 465.60 | 496.00 | 9 | 35.7% | -0.72 | 0.0007 | -0.823 | ||
| 79.10 | 109.10 | 35.3% | 0.30 | 0.0006 | -0.874 | 3,360 | 470.00 | 504.70 | 35.4% | -0.73 | 0.0007 | -0.814 | ||||
| 77.20 | 107.20 | 35.4% | 0.29 | 0.0006 | -0.868 | 3,370 | 478.20 | 512.70 | 3 | 35.5% | -0.73 | 0.0007 | -0.805 | |||
| 74.90 | 104.90 | 1 | 35.4% | 0.29 | 0.0006 | -0.862 | 3,380 | 487.90 | 520.80 | 35.7% | -0.74 | 0.0006 | -0.796 | |||
| 72.90 | 102.90 | 35.4% | 0.28 | 0.0006 | -0.856 | 3,390 | 496.00 | 528.90 | 1 | 35.7% | -0.75 | 0.0006 | -0.787 | |||
| 82.00 | 93.40 | 47 | 35.8% | 0.28 | 0.0006 | -0.849 | 3,400 | 502.20 | 537.10 | 582 | 35.5% | -0.75 | 0.0006 | -0.779 | ||
| 69.50 | 99.50 | 4 | 35.6% | 0.27 | 0.0006 | -0.843 | 3,410 | 510.00 | 545.30 | 35.5% | -0.76 | 0.0006 | -0.770 | |||
| 66.70 | 96.70 | 1 | 35.4% | 0.27 | 0.0006 | -0.836 | 3,420 | 520.80 | 553.60 | 1 | 35.8% | -0.76 | 0.0006 | -0.761 | ||
| 64.90 | 94.90 | 35.5% | 0.26 | 0.0006 | -0.829 | 3,430 | 528.00 | 561.90 | 2 | 35.8% | -0.77 | 0.0006 | -0.752 | |||
| 64.00 | 93.90 | 35.7% | 0.26 | 0.0006 | -0.823 | 3,440 | 536.00 | 570.30 | 35.6% | -0.77 | 0.0006 | -0.742 | ||||
| 61.30 | 91.30 | 4 | 35.5% | 0.25 | 0.0006 | -0.816 | 3,450 | 544.00 | 578.70 | 8 | 35.7% | -0.78 | 0.0006 | -0.733 | ||
| 60.00 | 89.90 | 1 | 35.6% | 0.25 | 0.0006 | -0.809 | 3,460 | 552.00 | 587.10 | 35.7% | -0.78 | 0.0006 | -0.723 | |||
| 62.50 | 81.50 | 1 | 35.4% | 0.24 | 0.0006 | -0.802 | 3,470 | 562.50 | 594.30 | 35.9% | -0.79 | 0.0006 | -0.714 | |||
| 60.90 | 80.00 | 35.5% | 0.24 | 0.0005 | -0.795 | 3,480 | 572.00 | 602.90 | 1 | 36.0% | -0.79 | 0.0006 | -0.704 | |||
| 59.40 | 78.40 | 2 | 35.5% | 0.23 | 0.0005 | -0.788 | 3,490 | 580.00 | 611.40 | 36.0% | -0.80 | 0.0006 | -0.694 | |||
| 53.00 | 82.90 | 12 | 35.7% | 0.23 | 0.0005 | -0.781 | 3,500 | 586.60 | 621.50 | 580 | 36.0% | -0.80 | 0.0006 | -0.684 | ||
| 52.50 | 82.50 | 1 | 36.0% | 0.23 | 0.0005 | -0.774 | 3,510 | 596.00 | 631.20 | 36.2% | -0.80 | 0.0006 | -0.674 | |||
| 50.50 | 80.50 | 1 | 35.9% | 0.22 | 0.0005 | -0.767 | 3,520 | 604.00 | 640.00 | 36.2% | -0.81 | 0.0006 | -0.665 | |||
| 49.30 | 79.30 | 2 | 36.0% | 0.22 | 0.0005 | -0.760 | 3,530 | 612.50 | 645.90 | 16 | 35.9% | -0.81 | 0.0006 | -0.655 | ||
| 48.00 | 77.90 | 2 | 36.0% | 0.21 | 0.0005 | -0.752 | 3,540 | 621.30 | 657.40 | 7 | 36.3% | -0.82 | 0.0006 | -0.646 | ||
| 47.10 | 77.10 | 3 | 36.2% | 0.21 | 0.0005 | -0.745 | 3,550 | 630.10 | 665.00 | 1 | 36.2% | -0.82 | 0.0006 | -0.637 | ||
| 44.40 | 74.30 | 2 | 35.9% | 0.21 | 0.0005 | -0.738 | 3,560 | 640.00 | 672.50 | 36.2% | -0.83 | 0.0006 | -0.627 | |||
| 44.00 | 73.90 | 3 | 36.1% | 0.20 | 0.0005 | -0.731 | 3,570 | 648.00 | 682.50 | 1 | 36.3% | -0.83 | 0.0006 | -0.618 | ||
| 42.80 | 72.80 | 2 | 36.2% | 0.20 | 0.0005 | -0.724 | 3,580 | 656.00 | 691.40 | 36.2% | -0.84 | 0.0006 | -0.608 | |||
| 45.90 | 65.20 | 2 | 36.0% | 0.20 | 0.0005 | -0.717 | 3,590 | 668.00 | 698.70 | 36.5% | -0.84 | 0.0005 | -0.598 | |||
| 44.80 | 64.10 | 1 | 10 | 36.1% | 0.19 | 0.0005 | -0.709 | 3,600 | 676.10 | 707.70 | 5 | 36.4% | -0.84 | 0.0005 | -0.588 | |
| 43.60 | 63.00 | 2 | 36.1% | 0.19 | 0.0005 | -0.702 | 3,610 | 685.20 | 716.70 | 36.5% | -0.85 | 0.0005 | -0.578 | |||
| 37.90 | 67.90 | 3 | 36.4% | 0.18 | 0.0005 | -0.695 | 3,620 | 692.00 | 728.00 | 36.5% | -0.85 | 0.0005 | -0.569 | |||
| 36.00 | 66.00 | 2 | 36.2% | 0.18 | 0.0004 | -0.688 | 3,630 | 701.10 | 737.40 | 36.6% | -0.85 | 0.0005 | -0.560 | |||
| 36.00 | 65.90 | 2 | 36.5% | 0.18 | 0.0004 | -0.681 | 3,640 | 712.00 | 744.60 | 36.7% | -0.86 | 0.0005 | -0.550 | |||
| 33.60 | 63.60 | 6 | 36.3% | 0.17 | 0.0004 | -0.673 | 3,650 | 720.10 | 755.50 | 36.9% | -0.86 | 0.0005 | -0.541 | |||
| 29.30 | 59.30 | 10 | 36.7% | 0.16 | 0.0004 | -0.638 | 3,700 | 765.30 | 801.10 | 7 | 37.0% | -0.88 | 0.0005 | -0.492 | ||
| 24.70 | 54.70 | 8 | 36.9% | 0.15 | 0.0004 | -0.604 | 3,750 | 812.30 | 846.70 | 38 | 37.2% | -0.90 | 0.0004 | -0.442 | ||
| 20.90 | 50.90 | 12 | 37.2% | 0.13 | 0.0004 | -0.570 | 3,800 | 860.00 | 894.10 | 26 | 37.6% | -0.91 | 0.0004 | -0.393 | ||
| 17.30 | 47.30 | 10 | 37.5% | 0.12 | 0.0003 | -0.538 | 3,850 | 908.00 | 940.40 | 5 | 37.8% | -0.92 | 0.0004 | -0.335 | ||
| 14.10 | 44.10 | 12 | 37.7% | 0.11 | 0.0003 | -0.507 | 3,900 | 956.30 | 988.90 | 1 | 38.3% | -0.94 | 0.0004 | -0.275 | ||
| 12.00 | 41.90 | 8 | 38.2% | 0.10 | 0.0003 | -0.477 | 3,950 | 1,004 | 1,036 | 1 | 38.3% | -0.95 | 0.0004 | -0.208 | ||
| 8.60 | 38.60 | 15 | 38.2% | 0.09 | 0.0003 | -0.449 | 4,000 | 1,052 | 1,086 | 12 | 38.5% | -0.96 | 0.0004 | -0.137 | ||
| 8.00 | 37.90 | 5 | 39.1% | 0.08 | 0.0002 | -0.422 | 4,050 | 1,100 | 1,135 | 1 | 38.2% | -0.97 | 0.0004 | -0.220 | ||
| 5.00 | 35.00 | 32 | 39.0% | 0.08 | 0.0002 | -0.397 | 4,100 | 1,150 | 1,184 | 3 | 38.7% | -0.98 | 0.0003 | -0.298 | ||
| 10.90 | 29.90 | 51 | 41.6% | 0.07 | 0.0002 | -0.373 | 4,150 | 1,200 | 1,234 | 1 | 40.1% | -0.99 | 0.0002 | -0.380 | ||
| 1.50 | 31.50 | 33 | 39.5% | 0.06 | 0.0002 | -0.350 | 4,200 | 1,249 | 1,284 | -0.99 | 0.0001 | -0.586 | ||||
| 8.60 | 26.30 | 19 | 41.0% | 0.06 | 0.0002 | -0.329 | 4,250 | 1,299 | 1,333 | -1.00 | 0.0001 | -0.738 | ||||
| 0.1000 | 30.10 | 16 | 40.8% | 0.05 | 0.0002 | -0.309 | 4,300 | 1,348 | 1,383 | -1.00 | 0.0000 | -0.861 | ||||
| 0 | 30.00 | 5 | 41.7% | 0.05 | 0.0002 | -0.291 | 4,350 | 1,398 | 1,433 | -1.00 | 0.0000 | -0.932 | ||||
| 7.80 | 22.10 | 15 | 42.6% | 0.05 | 0.0001 | -0.273 | 4,400 | 1,449 | 1,483 | -1.00 | 0.0000 | -0.966 | ||||
Strikes shown: within ±50% of the underlying price. Intrinsic value = max(0, price − strike) for calls, max(0, strike − price) for puts; extrinsic = option price − intrinsic. Greeks and IV as computed by the exchange feed.
Volatility smile — Dec 18, 2026
Volatility page →Implied volatility per strike for this expiration. Out-of-the-money puts usually price higher IV than calls — the skew.