BSP Options Chain Analysis

As of previous close (2026-10-21) · OPRA historical data

Spot $43.79 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.98

40k P / 20k C

Put/Call (Volume)

7.07

4k P / 600 C that session

30d ATM IV

81%

annualized implied move

Call wall

$60

4k contracts

Put wall

$35

11k contracts

Tail hedging

1.9×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.98 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $60 (4k contracts), 37% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $35 (11k contracts), 20% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 81% — 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 2026-11-20. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-11-20	11k	15k	1.40	3k
2026-12-18	2k	6k	2.68	1k
2027-01-15	5k	12k	2.41	63
2027-02-19	52	163	3.13	557
2027-04-16	314	3k	9.80	21
2027-06-17	515	3k	5.46	1
2028-01-21	436	386	0.89	0
2028-06-16	267	178	0.67	0
2028-12-15	939	917	0.98	15

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.