DB Options Chain Analysis

As of previous close (2026-10-21) · OPRA historical data

Spot $32.25 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.78

36k P / 46k C

Put/Call (Volume)

0.59

1k P / 2k C that session

30d ATM IV

37%

annualized implied move

Call wall

$40

11k contracts

Put wall

$27

4k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $40 (11k contracts), 24% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $27 (4k contracts), 16% 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 2026-11-20. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-11-20	3k	2k	0.71	2k
2026-12-18	199	284	1.43	69
2027-01-15	31k	23k	0.73	2k
2027-04-16	4k	3k	0.69	31
2028-01-21	7k	8k	1.08	107
2029-01-19	41	37	0.90	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.