DVN Options Chain Analysis

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

Spot $47.65 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.54

156k P / 289k C

Put/Call (Volume)

0.58

6k P / 11k C that session

30d ATM IV

33%

annualized implied move

Call wall

$50

72k contracts

Put wall

$47.5

24k contracts

Tail hedging

0.8×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.54 puts per call outstanding.
●Call wall at $50 (72k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $47.5 (24k contracts), 0% 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.

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	4k	2k	0.60	2k
2026-10-16	71k	35k	0.49	2k
2026-10-23	4k	938	0.24	307
2026-10-30	2k	996	0.60	85
2026-11-06	486	301	0.62	182
2026-11-13	13	5	0.38	219
2026-11-20	47k	16k	0.34	3k
2026-12-18	24k	12k	0.52	1k
2027-01-15	76k	47k	0.62	654
2027-03-19	5k	4k	0.84	46
2027-04-16	5k	769	0.16	25
2027-06-17	13k	12k	0.98	3k
2027-09-17	4k	516	0.12	4
2028-01-21	17k	13k	0.75	40
2028-12-15	5k	6k	1.07	28
2029-01-19	413	22	0.05	10

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.