IWM option chain iShares Russell 2000 ETF
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 ±6.9% (256.89–295.06) · ATM IV 19.3% · P/C open interest 1.86
| 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 | |
| 100.56 | 103.97 | 6 | 49.8% | 0.99 | 0.0005 | 0.000 | 175 | 0.2400 | 0.2600 | 430 | 47.9% | -0.01 | 0.0005 | -0.012 | ||
| 95.62 | 99.07 | 4 | 48.2% | 0.99 | 0.0006 | -0.001 | 180 | 0.2700 | 0.2900 | 49 | 46.0% | -0.01 | 0.0006 | -0.013 | ||
| 90.68 | 94.14 | 46.1% | 0.99 | 0.0007 | -0.003 | 185 | 0.3100 | 0.3300 | 15 | 117 | 44.3% | -0.02 | 0.0007 | -0.015 | ||
| 85.75 | 89.21 | 7 | 44.2% | 0.98 | 0.0008 | -0.005 | 190 | 0.3500 | 0.3700 | 145 | 42.5% | -0.02 | 0.0009 | -0.016 | ||
| 80.81 | 84.29 | 1 | 42.1% | 0.98 | 0.0009 | -0.007 | 195 | 0.3900 | 0.4200 | 372 | 40.7% | -0.02 | 0.0010 | -0.017 | ||
| 75.85 | 79.38 | 15 | 39.9% | 0.98 | 0.0011 | -0.009 | 200 | 0.4400 | 0.4700 | 20 | 3,534 | 38.9% | -0.02 | 0.0012 | -0.019 | |
| 70.93 | 74.49 | 2 | 38.2% | 0.97 | 0.0013 | -0.011 | 205 | 0.5100 | 0.5400 | 568 | 37.2% | -0.03 | 0.0014 | -0.020 | ||
| 66.03 | 69.59 | 8 | 36.4% | 0.97 | 0.0016 | -0.013 | 210 | 0.5800 | 0.6100 | 246 | 35.5% | -0.03 | 0.0017 | -0.022 | ||
| 61.14 | 64.71 | 28 | 34.6% | 0.96 | 0.0019 | -0.016 | 215 | 0.6700 | 0.7000 | 476 | 33.9% | -0.04 | 0.0021 | -0.024 | ||
| 56.27 | 59.91 | 20 | 33.2% | 0.96 | 0.0023 | -0.019 | 220 | 0.7800 | 0.8200 | 379 | 32.3% | -0.05 | 0.0025 | -0.026 | ||
| 55.30 | 58.94 | 5 | 32.9% | 0.96 | 0.0024 | -0.019 | 221 | 0.8000 | 0.8500 | 232 | 32.0% | -0.05 | 0.0026 | -0.027 | ||
| 54.33 | 57.96 | 3 | 32.5% | 0.95 | 0.0025 | -0.020 | 222 | 0.8300 | 0.8800 | 1,033 | 31.7% | -0.05 | 0.0027 | -0.028 | ||
| 53.36 | 56.99 | 5 | 32.2% | 0.95 | 0.0026 | -0.021 | 223 | 0.8500 | 0.9000 | 154 | 31.4% | -0.05 | 0.0028 | -0.028 | ||
| 52.39 | 56.05 | 31.9% | 0.95 | 0.0028 | -0.021 | 224 | 0.8800 | 0.9300 | 339 | 31.1% | -0.05 | 0.0029 | -0.029 | |||
| 51.43 | 55.08 | 58 | 31.6% | 0.95 | 0.0029 | -0.022 | 225 | 0.9100 | 0.9600 | 5 | 247 | 30.8% | -0.06 | 0.0030 | -0.029 | |
| 50.46 | 54.12 | 3 | 31.3% | 0.95 | 0.0030 | -0.023 | 226 | 0.9500 | 0.9900 | 152 | 30.5% | -0.06 | 0.0031 | -0.030 | ||
| 49.54 | 53.20 | 1 | 31.3% | 0.94 | 0.0031 | -0.023 | 227 | 0.9800 | 1.03 | 7 | 207 | 30.2% | -0.06 | 0.0033 | -0.030 | |
| 48.54 | 52.22 | 14 | 30.8% | 0.94 | 0.0032 | -0.024 | 228 | 1.01 | 1.06 | 299 | 29.9% | -0.06 | 0.0034 | -0.031 | ||
| 47.58 | 51.27 | 30.5% | 0.94 | 0.0034 | -0.025 | 229 | 1.05 | 1.10 | 103 | 29.6% | -0.07 | 0.0035 | -0.032 | |||
| 46.62 | 50.33 | 268 | 30.2% | 0.94 | 0.0035 | -0.026 | 230 | 1.09 | 1.14 | 26 | 359 | 29.3% | -0.07 | 0.0037 | -0.032 | |
| 45.66 | 49.38 | 4 | 29.9% | 0.94 | 0.0036 | -0.026 | 231 | 1.13 | 1.18 | 111 | 29.0% | -0.07 | 0.0038 | -0.033 | ||
| 44.71 | 48.46 | 13 | 29.7% | 0.93 | 0.0038 | -0.027 | 232 | 1.17 | 1.22 | 175 | 28.7% | -0.07 | 0.0040 | -0.034 | ||
| 43.75 | 47.48 | 2 | 29.3% | 0.93 | 0.0040 | -0.028 | 233 | 1.22 | 1.27 | 2 | 209 | 28.5% | -0.08 | 0.0041 | -0.034 | |
| 42.80 | 46.53 | 29.0% | 0.93 | 0.0041 | -0.029 | 234 | 1.26 | 1.31 | 2 | 98 | 28.2% | -0.08 | 0.0043 | -0.035 | ||
| 41.85 | 45.63 | 69 | 28.8% | 0.92 | 0.0043 | -0.030 | 235 | 1.31 | 1.36 | 31 | 1,689 | 27.9% | -0.08 | 0.0045 | -0.036 | |
| 40.95 | 44.64 | 2 | 28.5% | 0.92 | 0.0045 | -0.031 | 236 | 1.36 | 1.41 | 232 | 27.6% | -0.09 | 0.0047 | -0.036 | ||
| 39.97 | 43.70 | 32 | 28.1% | 0.92 | 0.0047 | -0.032 | 237 | 1.42 | 1.47 | 296 | 27.4% | -0.09 | 0.0049 | -0.037 | ||
| 39.03 | 42.76 | 74 | 27.8% | 0.91 | 0.0049 | -0.032 | 238 | 1.48 | 1.53 | 251 | 27.1% | -0.09 | 0.0051 | -0.038 | ||
| 38.12 | 41.82 | 4 | 27.6% | 0.91 | 0.0051 | -0.033 | 239 | 1.54 | 1.59 | 293 | 26.8% | -0.10 | 0.0053 | -0.039 | ||
| 37.16 | 40.89 | 286 | 27.3% | 0.91 | 0.0053 | -0.034 | 240 | 1.60 | 1.65 | 1 | 1,044 | 26.5% | -0.10 | 0.0055 | -0.040 | |
| 36.23 | 39.96 | 6 | 27.0% | 0.90 | 0.0055 | -0.035 | 241 | 1.67 | 1.72 | 265 | 26.2% | -0.11 | 0.0057 | -0.041 | ||
| 35.34 | 39.05 | 37 | 26.8% | 0.90 | 0.0058 | -0.036 | 242 | 1.74 | 1.80 | 144 | 26.0% | -0.11 | 0.0060 | -0.041 | ||
| 34.41 | 38.16 | 4 | 26.6% | 0.89 | 0.0060 | -0.037 | 243 | 1.82 | 1.87 | 150 | 25.8% | -0.12 | 0.0062 | -0.042 | ||
| 33.49 | 37.20 | 5 | 26.2% | 0.89 | 0.0063 | -0.038 | 244 | 1.89 | 1.95 | 658 | 25.5% | -0.12 | 0.0065 | -0.043 | ||
| 32.57 | 36.28 | 245 | 25.9% | 0.88 | 0.0065 | -0.039 | 245 | 1.98 | 2.04 | 22 | 1,582 | 25.2% | -0.13 | 0.0067 | -0.044 | |
| 31.66 | 35.40 | 4 | 25.7% | 0.88 | 0.0068 | -0.040 | 246 | 2.07 | 2.13 | 156 | 25.0% | -0.13 | 0.0070 | -0.045 | ||
| 30.76 | 34.47 | 4 | 25.4% | 0.87 | 0.0071 | -0.041 | 247 | 2.16 | 2.23 | 741 | 24.8% | -0.14 | 0.0073 | -0.046 | ||
| 29.86 | 33.57 | 4 | 25.2% | 0.87 | 0.0074 | -0.043 | 248 | 2.26 | 2.33 | 7 | 24.5% | -0.14 | 0.0076 | -0.047 | ||
| 28.93 | 32.68 | 41 | 24.9% | 0.86 | 0.0077 | -0.044 | 249 | 2.36 | 2.43 | 130 | 24.3% | -0.15 | 0.0079 | -0.048 | ||
| 28.05 | 31.79 | 242 | 24.6% | 0.85 | 0.0080 | -0.045 | 250 | 2.48 | 2.54 | 23 | 6,540 | 24.1% | -0.16 | 0.0082 | -0.049 | |
| 27.20 | 30.91 | 1 | 24.4% | 0.85 | 0.0083 | -0.046 | 251 | 2.59 | 2.66 | 1 | 26 | 23.8% | -0.16 | 0.0085 | -0.050 | |
| 26.29 | 30.06 | 4 | 24.2% | 0.84 | 0.0087 | -0.047 | 252 | 2.71 | 2.79 | 991 | 23.6% | -0.17 | 0.0088 | -0.051 | ||
| 27.03 | 27.24 | 44 | 23.4% | 0.83 | 0.0090 | -0.048 | 253 | 2.84 | 2.92 | 184 | 23.4% | -0.18 | 0.0092 | -0.052 | ||
| 26.18 | 26.36 | 7 | 23.2% | 0.82 | 0.0094 | -0.049 | 254 | 2.98 | 3.06 | 1,020 | 23.2% | -0.19 | 0.0095 | -0.053 | ||
| 25.32 | 25.52 | 398 | 23.0% | 0.81 | 0.0097 | -0.050 | 255 | 3.13 | 3.20 | 25 | 136 | 22.9% | -0.20 | 0.0099 | -0.053 | |
| 24.48 | 24.68 | 73 | 22.8% | 0.81 | 0.0101 | -0.051 | 256 | 3.28 | 3.36 | 161 | 22.7% | -0.20 | 0.0103 | -0.054 | ||
| 23.64 | 23.84 | 36 | 22.6% | 0.80 | 0.0105 | -0.052 | 257 | 3.44 | 3.52 | 117 | 22.5% | -0.21 | 0.0106 | -0.055 | ||
| 22.81 | 22.99 | 59 | 22.3% | 0.79 | 0.0108 | -0.053 | 258 | 3.61 | 3.70 | 155 | 22.3% | -0.22 | 0.0110 | -0.056 | ||
| 21.99 | 22.19 | 62 | 22.2% | 0.78 | 0.0112 | -0.055 | 259 | 3.80 | 3.89 | 342 | 22.1% | -0.23 | 0.0114 | -0.057 | ||
| 21.19 | 21.36 | 71 | 484 | 21.9% | 0.77 | 0.0116 | -0.056 | 260 | 3.98 | 4.08 | 1,085 | 21.9% | -0.24 | 0.0118 | -0.058 | |
| 20.39 | 20.58 | 191 | 21.8% | 0.76 | 0.0120 | -0.057 | 261 | 4.19 | 4.28 | 239 | 21.7% | -0.26 | 0.0122 | -0.059 | ||
| 19.60 | 19.77 | 101 | 21.6% | 0.75 | 0.0124 | -0.058 | 262 | 4.40 | 4.50 | 500 | 21.5% | -0.27 | 0.0126 | -0.060 | ||
| 18.82 | 18.99 | 71 | 21.4% | 0.73 | 0.0128 | -0.059 | 263 | 4.62 | 4.73 | 191 | 21.3% | -0.28 | 0.0129 | -0.061 | ||
| 18.06 | 18.23 | 222 | 21.2% | 0.72 | 0.0132 | -0.059 | 264 | 4.87 | 4.97 | 435 | 21.2% | -0.29 | 0.0133 | -0.061 | ||
| 17.31 | 17.50 | 1 | 508 | 21.0% | 0.71 | 0.0136 | -0.060 | 265 | 5.11 | 5.22 | 18 | 9,968 | 21.0% | -0.30 | 0.0137 | -0.062 |
| 16.56 | 16.76 | 308 | 20.8% | 0.70 | 0.0140 | -0.061 | 266 | 5.37 | 5.49 | 1,194 | 20.8% | -0.32 | 0.0141 | -0.063 | ||
| 15.85 | 16.04 | 471 | 20.7% | 0.68 | 0.0144 | -0.062 | 267 | 5.66 | 5.75 | 1,315 | 20.6% | -0.33 | 0.0144 | -0.063 | ||
| 15.15 | 15.33 | 217 | 20.5% | 0.67 | 0.0147 | -0.062 | 268 | 5.95 | 6.05 | 65 | 20.4% | -0.34 | 0.0148 | -0.064 | ||
| 14.44 | 14.61 | 291 | 20.3% | 0.65 | 0.0151 | -0.063 | 269 | 6.26 | 6.36 | 68 | 20.3% | -0.36 | 0.0152 | -0.064 | ||
| 13.78 | 13.94 | 5 | 255 | 20.2% | 0.64 | 0.0154 | -0.064 | 270 | 6.58 | 6.70 | 2 | 2,145 | 20.2% | -0.37 | 0.0155 | -0.065 |
| 13.10 | 13.28 | 13 | 1,978 | 20.1% | 0.62 | 0.0157 | -0.064 | 271 | 6.93 | 7.04 | 23 | 311 | 20.0% | -0.39 | 0.0158 | -0.065 |
| 12.47 | 12.63 | 9 | 208 | 19.9% | 0.61 | 0.0160 | -0.065 | 272 | 7.29 | 7.40 | 1 | 72 | 19.9% | -0.40 | 0.0161 | -0.065 |
| 11.84 | 12.00 | 48 | 19.8% | 0.59 | 0.0163 | -0.065 | 273 | 7.66 | 7.78 | 8 | 33 | 19.7% | -0.42 | 0.0164 | -0.065 | |
| 11.23 | 11.39 | 32 | 81 | 19.6% | 0.58 | 0.0166 | -0.065 | 274 | 8.06 | 8.17 | 60 | 65 | 19.6% | -0.44 | 0.0166 | -0.065 |
| 10.63 | 10.79 | 14 | 443 | 19.5% | 0.56 | 0.0168 | -0.065 | 275 | 8.46 | 8.58 | 17 | 923 | 19.4% | -0.45 | 0.0168 | -0.065 |
| 10.07 | 10.20 | 2 | 195 | 19.4% | 0.54 | 0.0170 | -0.065 | 276 | 8.89 | 9.01 | 20 | 79 | 19.3% | -0.47 | 0.0170 | -0.065 |
| 9.51 | 9.64 | 1 | 338 | 19.2% | 0.53 | 0.0171 | -0.065 | 277 | 9.34 | 9.46 | 21 | 85 | 19.2% | -0.49 | 0.0171 | -0.065 |
| 8.97 | 9.10 | 13 | 86 | 19.1% | 0.51 | 0.0173 | -0.065 | 278 | 9.79 | 9.93 | 365 | 19.0% | -0.50 | 0.0173 | -0.064 | |
| 8.45 | 8.58 | 279 | 19.0% | 0.49 | 0.0174 | -0.064 | 279 | 10.27 | 10.41 | 112 | 18.9% | -0.52 | 0.0174 | -0.064 | ||
| 7.95 | 8.08 | 60 | 3,946 | 18.9% | 0.47 | 0.0174 | -0.064 | 280 | 10.79 | 10.92 | 13 | 1,798 | 18.8% | -0.54 | 0.0174 | -0.063 |
| 7.49 | 7.59 | 233 | 18.8% | 0.46 | 0.0174 | -0.063 | 281 | 11.30 | 11.47 | 266 | 18.7% | -0.56 | 0.0174 | -0.063 | ||
| 7.02 | 7.13 | 128 | 18.7% | 0.44 | 0.0174 | -0.062 | 282 | 11.86 | 12.01 | 75 | 18.6% | -0.57 | 0.0174 | -0.062 | ||
| 6.57 | 6.68 | 74 | 18.6% | 0.42 | 0.0174 | -0.062 | 283 | 12.43 | 12.58 | 5 | 547 | 18.5% | -0.59 | 0.0174 | -0.061 | |
| 6.15 | 6.26 | 145 | 18.5% | 0.41 | 0.0173 | -0.061 | 284 | 12.99 | 13.17 | 23 | 18.4% | -0.61 | 0.0173 | -0.060 | ||
| 5.75 | 5.85 | 8 | 1,008 | 18.4% | 0.39 | 0.0172 | -0.060 | 285 | 13.59 | 13.76 | 1 | 733 | 18.3% | -0.63 | 0.0171 | -0.059 |
| 5.36 | 5.46 | 1 | 25 | 18.3% | 0.37 | 0.0170 | -0.059 | 286 | 14.23 | 14.39 | 130 | 18.3% | -0.64 | 0.0170 | -0.057 | |
| 5.01 | 5.09 | 2 | 27 | 18.2% | 0.35 | 0.0168 | -0.057 | 287 | 14.85 | 15.03 | 17 | 18.2% | -0.66 | 0.0168 | -0.056 | |
| 4.65 | 4.74 | 100 | 20 | 18.1% | 0.34 | 0.0166 | -0.056 | 288 | 15.51 | 15.69 | 17 | 18.1% | -0.68 | 0.0166 | -0.055 | |
| 4.31 | 4.41 | 2 | 16 | 18.0% | 0.32 | 0.0163 | -0.055 | 289 | 16.18 | 16.36 | 18.0% | -0.69 | 0.0163 | -0.053 | ||
| 4.01 | 4.09 | 2,740 | 5,097 | 18.0% | 0.30 | 0.0160 | -0.053 | 290 | 16.88 | 17.06 | 6 | 4,843 | 17.9% | -0.71 | 0.0161 | -0.052 |
| 3.72 | 3.80 | 75 | 17.9% | 0.29 | 0.0157 | -0.052 | 291 | 17.59 | 17.77 | 36 | 17.8% | -0.73 | 0.0158 | -0.051 | ||
| 3.44 | 3.52 | 11 | 17.8% | 0.27 | 0.0153 | -0.050 | 292 | 18.32 | 18.51 | 2 | 17.8% | -0.74 | 0.0155 | -0.049 | ||
| 3.18 | 3.25 | 60 | 36 | 17.8% | 0.26 | 0.0149 | -0.049 | 293 | 19.07 | 19.26 | 1 | 17.7% | -0.76 | 0.0152 | -0.048 | |
| 2.92 | 3.01 | 11 | 16 | 17.7% | 0.24 | 0.0145 | -0.047 | 294 | 19.83 | 20.03 | 1 | 17.7% | -0.77 | 0.0150 | -0.046 | |
| 2.70 | 2.78 | 42 | 1,245 | 17.7% | 0.23 | 0.0141 | -0.045 | 295 | 20.61 | 20.80 | 13.7K | 17.6% | -0.79 | 0.0147 | -0.045 | |
| 2.49 | 2.56 | 4 | 13 | 17.6% | 0.22 | 0.0136 | -0.043 | 296 | 21.40 | 21.60 | 1 | 3 | 17.6% | -0.80 | 0.0144 | -0.044 |
| 2.28 | 2.36 | 25 | 43 | 17.6% | 0.20 | 0.0132 | -0.042 | 297 | 22.22 | 22.39 | 17.5% | -0.82 | 0.0141 | -0.043 | ||
| 2.09 | 2.17 | 16 | 17.5% | 0.19 | 0.0127 | -0.040 | 298 | 23.04 | 23.21 | 12 | 17.4% | -0.83 | 0.0138 | -0.041 | ||
| 1.91 | 1.99 | 1,044 | 17.5% | 0.18 | 0.0122 | -0.038 | 299 | 21.89 | 25.58 | 16.6% | -0.84 | 0.0137 | -0.040 | |||
| 1.75 | 1.83 | 31 | 2,047 | 17.4% | 0.17 | 0.0117 | -0.037 | 300 | 24.74 | 26.43 | 397 | 20.0% | -0.86 | 0.0134 | -0.039 | |
| 1.13 | 1.19 | 50 | 877 | 17.4% | 0.12 | 0.0093 | -0.029 | 305 | 27.29 | 30.90 | 3,873 | 15.8% | -0.92 | 0.0127 | -0.036 | |
| 0.7100 | 0.7600 | 55 | 4,951 | 17.3% | 0.08 | 0.0070 | -0.022 | 310 | 32.24 | 35.67 | 1 | -0.97 | 0.0116 | -0.033 | ||
| 0.4500 | 0.4900 | 2,193 | 17.4% | 0.05 | 0.0052 | -0.016 | 315 | 37.21 | 40.64 | -1.00 | 0.0004 | -0.027 | ||||
| 0.2900 | 0.3200 | 1 | 2,211 | 17.6% | 0.04 | 0.0038 | -0.012 | 320 | 42.22 | 45.64 | -1.00 | 0.0000 | -0.027 | |||
| 0.1900 | 0.2200 | 1,287 | 17.9% | 0.03 | 0.0027 | -0.009 | 325 | 47.23 | 50.64 | -1.00 | 0.0000 | -0.027 | ||||
| 0.1300 | 0.1500 | 2 | 380 | 18.3% | 0.02 | 0.0020 | -0.007 | 330 | 52.23 | 55.64 | -1.00 | 0.0000 | -0.027 | |||
| 0.0900 | 0.1100 | 761 | 18.8% | 0.01 | 0.0015 | -0.005 | 335 | 57.23 | 60.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0600 | 0.0900 | 416 | 19.3% | 0.01 | 0.0011 | -0.004 | 340 | 62.25 | 65.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0500 | 0.0700 | 626 | 19.9% | 0.01 | 0.0009 | -0.003 | 345 | 67.23 | 70.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0300 | 0.0600 | 441 | 20.5% | 0.01 | 0.0007 | -0.003 | 350 | 72.26 | 75.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0200 | 0.0500 | 225 | 21.0% | 0.00 | 0.0005 | -0.002 | 355 | 77.25 | 80.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0200 | 0.0400 | 628 | 21.7% | 0.00 | 0.0004 | -0.002 | 360 | 82.23 | 85.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0100 | 0.0400 | 20 | 22.3% | 0.00 | 0.0004 | -0.002 | 365 | 87.23 | 90.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0100 | 0.0300 | 13 | 22.8% | 0.00 | 0.0003 | -0.002 | 370 | 92.23 | 95.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0100 | 0.0300 | 5 | 23.7% | 0.00 | 0.0003 | -0.002 | 375 | 97.23 | 100.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0.0100 | 0.0300 | 95 | 24.7% | 0.00 | 0.0002 | -0.001 | 380 | 102.25 | 105.63 | -1.00 | 0.0000 | -0.027 | ||||
| 0 | 0.0300 | 3 | 24.9% | 0.00 | 0.0002 | -0.001 | 385 | 107.23 | 110.63 | -1.00 | 0.0000 | -0.027 | ||||
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 31, 2026
Volatility page →Implied volatility per strike for this expiration. Out-of-the-money puts usually price higher IV than calls — the skew.