ELV Options Chain Analysis

As of previous close (2026-10-16) · OPRA historical data

Spot $426.44 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.91

16k P / 17k C

Put/Call (Volume)

0.20

186 P / 922 C that session

30d ATM IV

38%

annualized implied move

Call wall

$450

2k contracts

Put wall

$380

2k contracts

Tail hedging

2.7×

deep-OTM puts vs calls

What the positioning says

●Call wall at $450 (2k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $380 (2k contracts), 11% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.7× 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 2026-11-20. 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
2026-11-20	2k	2k	1.19	215
2026-12-18	1k	2k	2.05	113
2027-01-15	6k	4k	0.70	19
2027-03-19	2k	1k	0.67	44
2027-06-17	558	524	0.94	0
2027-09-17	67	94	1.40	24
2028-01-21	1k	949	0.63	1
2029-01-19	84	110	1.31	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.