BHP Options Chain Analysis

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

Spot $83.79 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.45

82k P / 56k C

Put/Call (Volume)

1.01

2k P / 1k C that session

30d ATM IV

34%

annualized implied move

Call wall

$100

7k contracts

Put wall

$77.5

33k contracts

Tail hedging

0.8×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.45 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $100 (7k contracts), 19% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $77.5 (33k contracts), 8% 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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	5k	7k	1.41	777
2026-11-20	9k	37k	4.28	141
2026-12-18	8k	12k	1.58	992
2027-01-15	21k	18k	0.87	81
2027-02-19	2k	1k	0.80	307
2027-03-19	5k	2k	0.46	641
2027-05-21	136	49	0.36	5
2027-06-17	962	1k	1.07	55
2027-09-17	125	117	0.94	1
2028-01-21	6k	3k	0.51	12
2029-01-19	115	34	0.30	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.