ARES Options Chain Analysis

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

Spot $134.37 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

2.55

54k P / 21k C

Put/Call (Volume)

1.03

844 P / 820 C that session

30d ATM IV

41%

annualized implied move

Call wall

$150

2k contracts

Put wall

$120

9k contracts

Tail hedging

3.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.55 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $150 (2k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $120 (9k contracts), 11% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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 2026-10-09. 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	15	0	0.00	11
2026-10-16	230	836	3.63	256
2026-10-23	0	0	—	4
2026-11-20	2k	2k	0.97	468
2026-12-18	1k	3k	2.38	216
2027-01-15	6k	25k	3.95	345
2027-02-19	2k	2k	0.92	8
2027-03-19	1k	1k	0.94	8
2027-06-17	684	3k	3.70	8
2027-09-17	0	50	—	0
2028-01-21	2k	3k	1.84	8

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.