FTAI Options Chain Analysis

As of previous close (2026-09-18) · OPRA historical data

Spot $191.12 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.59

17k P / 29k C

Put/Call (Volume)

0.32

95 P / 300 C that session

30d ATM IV

59%

annualized implied move

Call wall

$220

3k contracts

Put wall

$150

2k contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.59 puts per call outstanding.
●Call wall at $220 (3k contracts), 15% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $150 (2k contracts), 22% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.6× deep-OTM put OI — speculative upside positioning dominates the tails.

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.

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
2026-09-25	464	412	0.89	122
2026-10-02	850	547	0.64	6
2026-10-09	173	62	0.36	8
2026-10-16	3k	979	0.35	21
2026-10-23	76	390	5.13	0
2026-10-30	291	16	0.05	0
2026-11-20	3k	1k	0.39	22
2026-12-18	2k	1k	0.52	11
2027-01-15	6k	4k	0.79	6
2027-02-19	152	141	0.93	8
2027-03-19	3k	2k	0.86	0
2027-05-21	0	0	—	0
2027-06-17	2k	929	0.57	5
2028-01-21	4k	748	0.21	0
2029-01-19	8	5	0.63	1

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.