CLS Options Chain Analysis

As of previous close (2026-10-16) · OPRA historical data

Spot $303.2 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.67

60k P / 89k C

Put/Call (Volume)

0.98

4k P / 4k C that session

30d ATM IV

82%

annualized implied move

Call wall

$400

8k contracts

Put wall

$210

8k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.67 puts per call outstanding.
●Call wall at $400 (8k contracts), 32% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $210 (8k contracts), 31% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.2× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 82% — 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 2026-11-13. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-23	4k	5k	1.26	2k
2026-10-30	7k	10k	1.41	1k
2026-11-06	5k	2k	0.33	606
2026-11-13	288	728	2.53	122
2026-11-20	15k	7k	0.43	1k
2026-11-27	96	924	9.63	51
2026-12-18	11k	4k	0.35	1k
2027-01-15	15k	12k	0.83	201
2027-02-19	1k	3k	2.18	73
2027-03-19	3k	2k	0.71	96
2027-05-21	2k	1k	0.49	61
2027-06-17	934	2k	1.62	13
2027-08-20	1k	459	0.39	10
2027-11-19	1k	538	0.46	15
2028-01-21	4k	3k	0.72	192
2029-01-19	449	494	1.10	26

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.