CNC Options Chain Analysis

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

Spot $69.16 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.50

77k P / 152k C

Put/Call (Volume)

0.32

1k P / 3k C that session

30d ATM IV

52%

annualized implied move

Call wall

$70

10k contracts

Put wall

$20

10k contracts

Tail hedging

2.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.50 puts per call outstanding.
●Call wall at $70 (10k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (10k contracts), 71% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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
2026-10-23	3k	1k	0.33	878
2026-10-30	1k	767	0.63	237
2026-11-06	258	141	0.55	28
2026-11-13	97	80	0.82	9
2026-11-20	5k	5k	0.98	2k
2026-11-27	10	24	2.40	5
2026-12-18	9k	8k	0.88	338
2027-01-15	100k	34k	0.34	242
2027-03-19	5k	5k	0.94	93
2027-06-17	3k	6k	1.68	45
2027-09-17	639	693	1.08	6
2028-01-21	13k	6k	0.45	21
2029-01-19	169	33	0.20	10

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.