CNI Options Chain Analysis

As of previous close (2026-10-06) · OPRA historical data

Spot $119.32 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.30

3k P / 11k C

Put/Call (Volume)

0.00

1 P / 301 C that session

30d ATM IV

25%

annualized implied move

Call wall

$125

3k contracts

Put wall

$110

450 contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.30 puts per call outstanding.
●Call wall at $125 (3k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $110 (450 contracts), 8% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.8× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 25% — calm pricing; option premium is cheap.

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
2026-10-16	8k	2k	0.22	232
2026-11-20	875	680	0.78	51
2026-12-18	2	33	16.50	0
2027-01-15	2k	452	0.20	7
2027-02-19	32	178	5.56	0
2027-03-19	265	169	0.64	8
2027-04-16	44	100	2.27	4

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.