CNQ Options Chain Analysis

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

Spot $48.54 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.54

46k P / 85k C

Put/Call (Volume)

0.21

87 P / 413 C that session

30d ATM IV

31%

annualized implied move

Call wall

$52.5

16k contracts

Put wall

$30

10k contracts

Tail hedging

1.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.54 puts per call outstanding.
●Call wall at $52.5 (16k contracts), 8% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (10k contracts), 38% below spot — the hedge floor; often acts as support.

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 2026-10-30. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	233	4k	16.76	61
2026-10-16	5k	11k	2.04	133
2026-10-23	105	38	0.36	16
2026-10-30	191	174	0.91	9
2026-11-06	25	2	0.08	0
2026-11-13	10	0	0.00	1
2026-11-20	1k	1k	0.90	17
2026-12-18	6k	3k	0.47	11
2027-01-15	64k	17k	0.27	65
2027-03-19	1k	356	0.33	1
2028-01-21	6k	8k	1.37	9
2029-01-19	76	518	6.82	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.