CL Options Chain Analysis

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

Spot $84.5 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.72

26k P / 36k C

Put/Call (Volume)

0.29

422 P / 1k C that session

30d ATM IV

23%

annualized implied move

Call wall

$100

6k contracts

Put wall

$80

5k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $100 (6k contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $80 (5k contracts), 5% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.1× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 23% — calm pricing; option premium is cheap.

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 2026-10-30. 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
2026-10-09	462	140	0.30	195
2026-10-16	4k	3k	0.74	183
2026-10-23	178	102	0.57	54
2026-10-30	885	128	0.14	39
2026-11-06	93	18	0.19	24
2026-11-13	0	1	—	3
2026-11-20	5k	2k	0.44	281
2026-12-18	4k	4k	0.85	449
2027-01-15	10k	9k	0.96	85
2027-02-19	918	564	0.61	107
2027-03-19	5k	2k	0.49	32
2027-05-21	14	24	1.71	103
2027-06-17	1k	2k	2.11	111
2027-09-17	199	67	0.34	3
2028-01-21	3k	2k	0.77	22
2029-01-19	98	16	0.16	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.