BEN Options Chain Analysis

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

Spot $32.83 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.56

9k P / 16k C

Put/Call (Volume)

0.24

58 P / 245 C that session

30d ATM IV

30%

annualized implied move

Call wall

$34

4k contracts

Put wall

$20

1k contracts

Tail hedging

3.8×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.56 puts per call outstanding.
●Call wall at $34 (4k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (1k contracts), 39% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.8× 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.

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
2026-10-16	10k	3k	0.31	40
2026-11-20	306	52	0.17	48
2027-01-15	5k	5k	1.07	206
2027-04-16	294	29	0.10	2
2028-01-21	796	666	0.84	7

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.