CNH Options Chain Analysis

As of previous close (2026-09-11) · OPRA historical data

Spot $13.58 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.19

10k P / 52k C

Put/Call (Volume)

0.01

10 P / 2k C that session

30d ATM IV

47%

annualized implied move

Call wall

$15

38k contracts

Put wall

$10

8k contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.19 puts per call outstanding.
●Call wall at $15 (38k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $10 (8k contracts), 26% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 4.5× deep-OTM put OI — speculative upside positioning dominates the tails.

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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-09-18	6k	5k	0.87	2k
2026-10-16	624	352	0.56	20
2026-12-18	6k	2k	0.39	2
2027-01-15	38k	2k	0.04	66
2027-03-19	1k	622	0.52	2

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.