HSBC Options Chain Analysis

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

Spot $95.01 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.31

47k P / 36k C

Put/Call (Volume)

4.24

4k P / 862 C that session

30d ATM IV

29%

annualized implied move

Call wall

$105

10k contracts

Put wall

$75

6k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.31 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $105 (10k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $75 (6k contracts), 21% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	950	1k	1.09	142
2026-10-16	4k	3k	0.72	2k
2026-10-23	64	34	0.53	44
2026-10-30	328	59	0.18	18
2026-11-06	0	10	—	6
2026-11-13	0	0	—	0
2026-11-20	388	509	1.31	409
2026-12-18	8k	19k	2.35	1k
2027-01-15	8k	10k	1.24	420
2027-03-19	4k	3k	0.70	350
2027-06-17	4k	6k	1.59	35
2027-09-17	68	13	0.19	10
2028-01-21	3k	2k	0.74	14
2029-01-19	68	48	0.71	3

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.