FN Options Chain Analysis

As of previous close (2026-09-11) · OPRA historical data

Spot $403.95 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.74

12k P / 16k C

Put/Call (Volume)

1.19

785 P / 661 C that session

30d ATM IV

64%

annualized implied move

Call wall

$450

1k contracts

Put wall

$400

1k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Call wall at $450 (1k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $400 (1k contracts), 1% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.3× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 64% — 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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-09-18	5k	4k	0.76	846
2026-10-16	2k	3k	1.23	333
2026-11-20	3k	1k	0.50	139
2026-12-18	2k	3k	1.46	25
2027-01-15	3k	900	0.36	41
2027-04-16	1k	139	0.10	19
2027-07-16	67	63	0.94	8
2027-10-15	60	40	0.67	6
2027-12-17	133	273	2.05	29

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.