CL Options Chain Analysis

As of previous close (2026-10-12) · OPRA historical data

Spot $89.79 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.79

29k P / 37k C

Put/Call (Volume)

1.35

1k P / 950 C that session

30d ATM IV

25%

annualized implied move

Call wall

$100

6k contracts

Put wall

$80

5k contracts

Tail hedging

1.2×

deep-OTM puts vs calls

What the positioning says

●Call wall at $100 (6k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $80 (5k contracts), 11% 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 2026-11-13. 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
2026-10-16	4k	3k	0.66	503
2026-10-23	385	125	0.32	49
2026-10-30	978	148	0.15	98
2026-11-06	115	37	0.32	19
2026-11-13	141	24	0.17	24
2026-11-20	5k	2k	0.48	264
2026-11-27	2	2	1.00	15
2026-12-18	5k	6k	1.31	577
2027-01-15	10k	9k	0.93	63
2027-02-19	1k	706	0.67	33
2027-03-19	5k	3k	0.49	131
2027-05-21	161	24	0.15	0
2027-06-17	1k	2k	1.80	2
2027-09-17	207	96	0.46	11
2028-01-21	3k	2k	0.74	134
2029-01-19	325	48	0.15	306

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.