DELL Options Chain Analysis

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

Spot $562.84 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.41

436k P / 308k C

Put/Call (Volume)

0.68

51k P / 75k C that session

30d ATM IV

57%

annualized implied move

Call wall

$600

15k contracts

Put wall

$400

18k contracts

Tail hedging

4.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.41 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $600 (15k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $400 (18k contracts), 29% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	15k	16k	1.10	22k
2026-10-16	47k	57k	1.20	13k
2026-10-23	7k	5k	0.71	3k
2026-10-30	5k	4k	0.80	2k
2026-11-06	663	1k	1.75	778
2026-11-13	25	28	1.12	433
2026-11-20	20k	31k	1.52	3k
2026-12-18	31k	58k	1.85	3k
2027-01-15	47k	83k	1.76	1k
2027-02-19	2k	3k	1.13	317
2027-03-19	18k	23k	1.24	3k
2027-04-16	1k	3k	2.78	79
2027-06-17	15k	24k	1.68	340
2027-09-17	7k	9k	1.27	68
2027-12-17	13k	20k	1.51	81
2028-01-21	21k	31k	1.45	197
2028-06-16	3k	3k	0.76	166
2028-12-15	14k	17k	1.27	434
2029-01-19	962	400	0.42	246

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.