BIP Options Chain Analysis

As of previous close (2026-09-18) · OPRA historical data

Spot $35.97 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.57

1k P / 2k C

Put/Call (Volume)

0.11

7 P / 62 C that session

30d ATM IV

25%

annualized implied move

Call wall

$40

1k contracts

Put wall

$35

828 contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.57 puts per call outstanding.
●Call wall at $40 (1k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $35 (828 contracts), 3% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 6.2× deep-OTM put OI — speculative upside positioning dominates the tails.

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	151	73	0.48	2
2026-11-20	10	2	0.20	0
2026-12-18	837	498	0.59	37
2027-03-19	354	374	1.06	27

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.