CME Options Chain Analysis

As of previous close (2026-10-01) · OPRA historical data

Spot $266 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.14

28k P / 25k C

Put/Call (Volume)

1.37

1k P / 871 C that session

30d ATM IV

29%

annualized implied move

Call wall

$300

3k contracts

Put wall

$260

3k contracts

Tail hedging

1.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.14 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $300 (3k contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $260 (3k contracts), 2% 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 2026-10-30. 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
2026-10-02	1k	2k	1.65	604
2026-10-09	1k	723	0.49	936
2026-10-16	4k	4k	1.13	86
2026-10-23	206	259	1.26	9
2026-10-30	114	154	1.35	4
2026-11-06	54	15	0.28	2
2026-11-13	0	0	—	5
2026-11-20	1k	1k	0.96	24
2026-12-18	4k	6k	1.59	29
2027-01-15	6k	7k	1.11	100
2027-03-19	3k	4k	1.25	182
2027-06-17	493	729	1.48	16
2027-09-17	95	61	0.64	4
2028-01-21	3k	2k	0.60	64
2029-01-19	117	39	0.33	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.