ALC Options Chain Analysis

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

Spot $71.75 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.15

13k P / 12k C

Put/Call (Volume)

0.31

33 P / 108 C that session

30d ATM IV

24%

annualized implied move

Call wall

$75

2k contracts

Put wall

$70

2k contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.15 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $75 (2k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $70 (2k contracts), 2% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 24% — 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	955	1k	1.11	44
2026-10-16	292	181	0.62	31
2026-11-20	2k	3k	1.29	6
2026-12-18	3k	3k	1.25	38
2027-01-15	2k	1k	0.62	2
2027-02-19	258	98	0.38	0
2027-06-17	891	1k	1.67	0
2027-12-17	772	2k	2.08	17
2028-01-21	2k	2k	1.00	3

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.