APA Options Chain Analysis

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

Spot $43.68 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.48

63k P / 133k C

Put/Call (Volume)

0.80

2k P / 2k C that session

30d ATM IV

41%

annualized implied move

Call wall

$45

16k contracts

Put wall

$17.5

8k contracts

Tail hedging

1.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.48 puts per call outstanding.
●Call wall at $45 (16k contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $17.5 (8k contracts), 60% below spot — the hedge floor; often acts as support.

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	1k	965	0.67	702
2026-10-16	24k	12k	0.50	1k
2026-10-23	462	665	1.44	112
2026-10-30	496	776	1.56	240
2026-11-06	104	171	1.64	131
2026-11-13	1	2	2.00	2
2026-11-20	2k	789	0.41	64
2026-12-18	14k	8k	0.58	129
2027-01-15	63k	24k	0.37	380
2027-03-19	6k	7k	1.10	137
2027-04-16	935	492	0.53	2
2028-01-21	13k	4k	0.33	13
2028-12-15	4k	2k	0.53	0
2029-01-19	43	61	1.42	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.