CNP Options Chain Analysis

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

Spot $37.79 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.19

2k P / 12k C

Put/Call (Volume)

0.01

2 P / 149 C that session

30d ATM IV

16%

annualized implied move

Call wall

$45

4k contracts

Put wall

$28

277 contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.19 puts per call outstanding.
●Call wall at $45 (4k contracts), 19% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $28 (277 contracts), 26% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 10.2× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 16% — 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 2026-10-16. 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
2026-10-16	4k	306	0.08	9
2026-11-20	2k	484	0.32	97
2026-12-18	2k	475	0.29	35
2027-01-15	1k	786	0.61	10
2027-02-19	164	80	0.49	0
2027-05-21	17	1	0.06	0
2027-12-17	3k	80	0.03	0
2028-01-21	562	91	0.16	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.