FCX Options Chain Analysis

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

Spot $72.13 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.95

477k P / 503k C

Put/Call (Volume)

0.60

24k P / 40k C that session

30d ATM IV

49%

annualized implied move

Call wall

$80

70k contracts

Put wall

$65

62k contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Call wall at $80 (70k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $65 (62k contracts), 10% 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	10k	8k	0.84	21k
2026-10-16	70k	40k	0.56	6k
2026-10-23	4k	3k	0.76	1k
2026-10-30	2k	1k	0.63	2k
2026-11-06	2k	244	0.10	285
2026-11-13	29	12	0.41	56
2026-11-20	51k	35k	0.68	5k
2026-12-18	65k	60k	0.93	13k
2027-01-15	155k	203k	1.31	2k
2027-02-19	8k	9k	1.17	188
2027-03-19	21k	23k	1.10	364
2027-04-16	377	232	0.62	40
2027-05-21	70	101	1.44	6
2027-06-17	18k	37k	2.10	2k
2027-09-17	5k	4k	0.76	512
2028-01-21	66k	41k	0.62	988
2028-12-15	4k	3k	0.65	40
2029-01-19	992	333	0.34	87

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.