GMAB Options Chain Analysis

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

Spot $34.64 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.21

16k P / 74k C

Put/Call (Volume)

0.83

5k P / 6k C that session

30d ATM IV

91%

annualized implied move

Call wall

$40

27k contracts

Put wall

$30

6k contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.21 puts per call outstanding.
●Call wall at $40 (27k contracts), 15% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (6k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 4.4× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 91% — 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
2026-10-16	3k	2k	0.84	2k
2026-11-20	3k	4k	1.49	7k
2026-12-18	55k	2k	0.04	327
2027-01-15	10k	4k	0.40	351
2027-02-19	3k	3k	0.87	26
2027-05-21	196	2	0.01	1
2028-01-21	18	42	2.33	0
2029-01-19	3	18	6.00	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.