ENPH Options Chain Analysis

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

Spot $33.48 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.63

155k P / 246k C

Put/Call (Volume)

0.46

8k P / 17k C that session

30d ATM IV

70%

annualized implied move

Call wall

$70

24k contracts

Put wall

$30

26k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.63 puts per call outstanding.
●Call wall at $70 (24k contracts), 109% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (26k contracts), 10% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.6× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 70% — the market prices very large moves; option premium is expensive.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	4k	5k	1.13	6k
2026-10-16	22k	11k	0.50	5k
2026-10-23	3k	2k	0.57	126
2026-10-30	2k	2k	1.09	483
2026-11-06	2k	265	0.11	2k
2026-11-13	14	9	0.64	49
2026-11-20	21k	13k	0.63	1k
2026-12-18	37k	25k	0.69	899
2027-01-15	87k	33k	0.38	360
2027-02-19	5k	3k	0.57	279
2027-05-21	2k	2k	1.02	6
2027-06-17	23k	28k	1.25	778
2028-01-21	19k	20k	1.05	106
2028-12-15	8k	3k	0.41	971
2029-01-19	294	2k	5.17	77

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.