BSP Options Chain Analysis

As of previous close (2026-09-02) · OPRA historical data

Spot $40.93 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

2.44

19k P / 8k C

Put/Call (Volume)

0.91

61 P / 67 C that session

30d ATM IV

73%

annualized implied move

Call wall

$75

2k contracts

Put wall

$30

8k contracts

Tail hedging

3.9×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.44 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $75 (2k contracts), 83% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (8k contracts), 27% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.9× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 73% — the market prices very large moves; option premium is expensive.

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 2026-09-18. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-09-18	923	3k	3.65	49
2026-10-16	1k	4k	4.03	13
2027-01-15	5k	9k	1.98	26
2027-04-16	1	1k	1226.00	10
2027-06-17	511	202	0.40	1
2028-01-21	442	175	0.40	26
2028-06-16	170	62	0.36	1
2028-12-15	171	720	4.21	2

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.