AER Options Chain Analysis

As of previous close (2026-09-02) · OPRA historical data

Spot $144.16 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.40

5k P / 12k C

Put/Call (Volume)

0.63

125 P / 200 C that session

30d ATM IV

23%

annualized implied move

Call wall

$145

1k contracts

Put wall

$120

649 contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.40 puts per call outstanding.
●Call wall at $145 (1k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $120 (649 contracts), 17% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 23% — calm pricing; option premium is cheap.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-09-18. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-09-18	1k	2k	1.39	16
2026-10-16	872	478	0.55	11
2027-01-15	9k	2k	0.23	15
2027-04-16	99	134	1.35	130
2027-12-17	0	0	—	153

Source: Cboe end-of-session option chains, summarized after each US market close and published from the following trading day — OPRA historical data. Under the OPRA plan options data becomes historical, and freely publishable, at the opening of the next trading session; data from the session in progress is never displayed or served here. Open interest is exchange-reported once a day. Research, not investment advice.