AFL Options Chain Analysis

As of previous close (2026-10-02) · OPRA historical data

Spot $111.54 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.58

21k P / 36k C

Put/Call (Volume)

2.22

887 P / 400 C that session

30d ATM IV

16%

annualized implied move

Call wall

$125

10k contracts

Put wall

$105

5k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.58 puts per call outstanding.
●Call wall at $125 (10k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $105 (5k contracts), 6% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.2× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 16% — 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 2026-10-30. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	538	195	0.36	91
2026-10-16	4k	560	0.14	38
2026-10-23	1k	123	0.11	25
2026-10-30	355	36	0.10	29
2026-11-06	36	5	0.14	0
2026-11-13	1	0	0.00	1
2026-11-20	6k	2k	0.25	189
2026-12-18	3k	1k	0.31	32
2027-01-15	10k	5k	0.47	123
2027-02-19	1k	542	0.49	48
2027-03-19	3k	3k	0.99	45
2027-05-21	23	6	0.26	1
2027-06-17	3k	6k	2.35	544
2027-09-17	339	472	1.39	15
2028-01-21	4k	3k	0.80	50
2029-01-19	23	16	0.70	4

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.