COF Options Chain Analysis

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

Spot $194.7 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.75

63k P / 84k C

Put/Call (Volume)

0.40

2k P / 6k C that session

30d ATM IV

37%

annualized implied move

Call wall

$220

18k contracts

Put wall

$180

5k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $220 (18k contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $180 (5k contracts), 8% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.1× 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 2026-10-30. 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
2026-10-09	2k	2k	1.07	4k
2026-10-16	28k	4k	0.16	239
2026-10-23	2k	1k	0.63	109
2026-10-30	316	233	0.74	68
2026-11-06	58	108	1.86	149
2026-11-13	3	3	1.00	8
2026-11-20	2k	2k	1.14	354
2026-12-18	7k	11k	1.63	448
2027-01-15	20k	19k	0.98	189
2027-03-19	5k	8k	1.63	195
2027-06-17	4k	7k	1.54	168
2027-09-17	1k	828	0.72	61
2028-01-21	5k	4k	0.80	161
2028-12-15	2k	1k	0.52	79
2029-01-19	717	23	0.03	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.