Put Skew Leaders
As of June 8, 2026 (end-of-day snapshot). Pages update daily after the market close.
Names where 25-delta put IV most exceeds 25-delta call IV: the standard put-skew measure. Steep skew reflects elevated crash-protection demand; puts trade rich relative to calls. Structurally high on indices with persistent institutional hedging demand.
Top 50 by 25Δ Skew
The live put-skew leaderboard loads after the page hydrates. Rows are ranked by 25-delta put IV minus 25-delta call IV: the canonical skew measure.
Methodology
Ranked by 25-delta put IV minus 25-delta call IV, descending. We fall back to a precomputed 25-delta IV skew column when the per-side IVs are unavailable. Eligibility: total open interest ≥ 50,000, spot ≥ $5.
Frequently Asked Questions
What is 25-delta?
A 25-delta option has a delta of 0.25 (call) or −0.25 (put), meaning each $1 move in the underlying changes the option price by 25 cents. These sit roughly one standard deviation out of the money: the industry-standard reference points for skew measurement because they are liquid, delta-equivalent on either side of ATM, and minimally sensitive to small changes in the smile shape. Quoting skew as "25-delta put IV minus 25-delta call IV" produces a stable, comparable number across tickers and across time, which is why this is the canonical skew metric used in research and risk reporting.
Is high skew bearish?
Not mechanically. Steep skew signals the market is paying up for crash protection (downside puts trade richer than upside calls), which could be justified (real tail risk priced in) or excessive (institutional hedging demand has overshot fundamentals). Extreme steepening often precedes or coincides with downside vol expansion, but it also mean-reverts when event premium collapses or when the priced-in risk fails to materialize. The directional interpretation depends on whether you think the skew premium is fairly priced; the screener surfaces names where the skew is currently steep but does not say whether it should stay there.
Why do indices always show up?
SPY, QQQ, IWM, and other broad-market index ETFs have structurally elevated put skew because institutional hedging demand is persistent: pension funds, endowments, and asset managers continuously buy OTM puts as portfolio insurance, bidding up downside premium relative to upside. This is a structural feature of the equity market, not a tactical signal. Names that are always on the put-skew leaderboard are not necessarily flagging fresh risk; they are reflecting baseline hedging flow. This is why the Biggest Skew Change screener is often more useful for catching fresh regime shifts: it captures motion rather than steady-state level.
What trades does steep skew suggest?
Risk reversals (sell the put, buy the call at equivalent delta, collects the skew premium directly), put credit spreads (profit from put richness without the unbounded loss of a naked short put), broken-wing butterflies that take advantage of the asymmetry, or position-structure adjustments on existing books that systematically benefit from skew richness. The trade structure depends on directional bias and risk tolerance; the screener identifies the candidate setup, not the trade plan. All of these structures still need sizing and tail-risk discipline because steep skew can persist or get steeper before mean-reverting.
How fresh is the data on this screener?
All public screener data refreshes once per trading day after the 4:00 PM ET market close, typically available by 5:30 PM ET. The platform uses end-of-day OPRA aggregates which are licensed for free public display. Authenticated API-tier users with their own Tradier or tastytrade BYOK credentials can pull intraday data through the streaming endpoints.
Where does the underlying data come from?
End-of-day OPRA aggregates for the options data, exchange-published stock prices for the spot reference, and a calibrated implied-volatility surface computed from the listed chain. Ranking metrics like IV rank, GEX, and unusual-activity counts are computed nightly from these primary inputs. Methodology details are in each screener's "How it's computed" section above.
Are these stocks recommended trades?
No. The screener is a ranked list of names that meet a quantitative filter at the close of the prior trading session, a research starting point, not a buy or sell signal. Whether any name on the list represents a tradeable opportunity depends on the underlying catalyst, your strategy, current market context, and risk tolerance. The platform does not give trade advice; the lists are descriptive, not prescriptive.
How often does the ranking change?
The ranking refreshes every trading day after the close. Names move on and off the list as their underlying metric (IV rank, gamma exposure, volume, etc.) crosses thresholds. Most screeners show meaningful day-over-day churn at the top of the list during active markets and lower turnover during low-volatility regimes. The "biggest change" screeners specifically target fast-moving names.
Is the screener tradeable in real-time during market hours?
The screener itself ranks on end-of-day data. To trade names on the list during market hours, use your own broker's real-time chain data; the platform's per-ticker pages link directly to real-time chains for authenticated users. The screener's job is to surface the universe of candidates that met yesterday's filter; the trade decision uses live data.
Can I export the ranked list?
Pro and API tier users can export rankings via the API (REST endpoint per screener slug returns a JSON list with all metric columns) or pull them programmatically through the Python SDK. Free users have the full ranking visible on the page; programmatic access requires authentication. Daily snapshots are also available for backtesting research through the API tier.