DAL Options Chain Analysis

As of previous close (2026-10-08) · OPRA historical data

Spot $82.3 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.56

187k P / 333k C

Put/Call (Volume)

1.12

46k P / 41k C that session

30d ATM IV

43%

annualized implied move

Call wall

$87.5

58k contracts

Put wall

$75

16k contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.56 puts per call outstanding.
●Call wall at $87.5 (58k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $75 (16k contracts), 9% 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 2026-11-06. 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	28k	12k	0.45	46k
2026-10-16	143k	17k	0.12	20k
2026-10-23	2k	1k	0.54	1k
2026-10-30	3k	3k	0.74	2k
2026-11-06	843	667	0.79	578
2026-11-13	166	144	0.87	377
2026-11-20	42k	10k	0.23	8k
2026-11-27	0	0	—	34
2026-12-18	29k	42k	1.43	2k
2027-01-15	57k	57k	1.00	5k
2027-03-19	10k	15k	1.57	646
2027-06-17	7k	7k	0.97	567
2027-09-17	1k	2k	1.43	119
2028-01-21	8k	19k	2.29	494
2029-01-19	649	196	0.30	77

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.