BBVA Options Chain Analysis

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

Spot $26.98 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

2.76

4k P / 1k C

Put/Call (Volume)

—

1 P / 0 C that session

30d ATM IV

46%

annualized implied move

Call wall

$30

692 contracts

Put wall

$20

1k contracts

Tail hedging

3.2×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.76 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $30 (692 contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (1k contracts), 26% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.2× 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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	1k	2k	1.50	0
2026-11-20	10	3	0.30	0
2027-01-15	221	2k	7.92	0
2027-04-16	29	248	8.55	1

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.