CMG Options Chain Analysis

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

Spot $32.27 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.73

327k P / 448k C

Put/Call (Volume)

0.36

8k P / 23k C that session

30d ATM IV

47%

annualized implied move

Call wall

$33

43k contracts

Put wall

$28

49k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $33 (43k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $28 (49k contracts), 13% 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
2026-10-09	48k	8k	0.18	12k
2026-10-16	61k	27k	0.45	4k
2026-10-23	4k	4k	0.92	326
2026-10-30	6k	68k	10.74	560
2026-11-06	1k	262	0.25	374
2026-11-13	1	1	1.00	48
2026-11-20	9k	31k	3.44	1k
2026-12-18	104k	44k	0.42	1k
2027-01-15	119k	69k	0.58	447
2027-03-19	13k	12k	0.94	137
2027-06-17	15k	17k	1.16	174
2027-09-17	3k	5k	1.69	109
2028-01-21	30k	25k	0.83	216
2029-01-19	2k	3k	2.09	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.