CNH Options Chain Analysis

As of previous close (2026-10-28) · OPRA historical data

Spot $11 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.15

7k P / 46k C

Put/Call (Volume)

2.90

29 P / 10 C that session

30d ATM IV

88%

annualized implied move

Call wall

$15

38k contracts

Put wall

$10

4k contracts

Tail hedging

0.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.15 puts per call outstanding.
●Call wall at $15 (38k contracts), 36% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $10 (4k contracts), 9% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 93.4× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 88% — 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 2026-11-20. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-11-20	134	543	4.05	10
2026-12-18	7k	4k	0.55	25
2027-01-15	38k	2k	0.05	2
2027-03-19	1k	876	0.60	2
2027-06-17	5	19	3.80	0

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.