EMA Options Chain Analysis

As of previous close (2026-08-27) · OPRA historical data

Spot $50.68 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.56

2k P / 3k C

Put/Call (Volume)

0.02

1 P / 58 C that session

30d ATM IV

17%

annualized implied move

Call wall

$65

918 contracts

Put wall

$45

1k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.56 puts per call outstanding.
●Call wall at $65 (918 contracts), 28% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $45 (1k contracts), 11% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 17% — calm pricing; option premium is cheap.

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 2026-09-18. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	859	1	0.00	1
2026-12-18	741	32	0.04	2
2027-03-19	27	0	0.00	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.