ALK Options Chain Analysis

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

Spot $39.53 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.53

32k P / 60k C

Put/Call (Volume)

0.32

269 P / 832 C that session

30d ATM IV

52%

annualized implied move

Call wall

$45

10k contracts

Put wall

$35

5k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.53 puts per call outstanding.
●Call wall at $45 (10k contracts), 14% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $35 (5k contracts), 11% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.1× deep-OTM put OI — speculative upside positioning dominates the tails.

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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	20k	11k	0.57	424
2026-11-20	2k	2k	0.91	497
2026-12-18	9k	4k	0.42	58
2027-01-15	17k	8k	0.47	98
2027-02-19	426	314	0.74	1
2027-03-19	3k	2k	0.73	5
2027-04-16	37	403	10.89	1
2027-05-21	266	1k	3.86	0
2027-12-17	866	543	0.63	0
2028-01-21	6k	2k	0.27	6
2029-01-19	813	251	0.31	11

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.