HUM Options Chain Analysis

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

Spot $387.87 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.00

77k P / 77k C

Put/Call (Volume)

1.88

8k P / 4k C that session

30d ATM IV

61%

annualized implied move

Call wall

$400

8k contracts

Put wall

$220

4k contracts

Tail hedging

1.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $400 (8k contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $220 (4k contracts), 43% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 61% — 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 2026-10-30. 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	4k	4k	0.91	2k
2026-10-16	19k	14k	0.71	2k
2026-10-23	1k	1k	1.19	487
2026-10-30	880	1k	1.33	76
2026-11-06	79	401	5.08	644
2026-11-13	0	80	—	614
2026-11-20	6k	8k	1.36	501
2026-12-18	7k	7k	0.94	79
2027-01-15	19k	21k	1.12	105
2027-02-19	306	4k	13.17	0
2027-03-19	1k	3k	2.14	5
2027-04-16	2k	2k	0.76	9
2027-05-21	102	421	4.13	248
2027-06-17	2k	1k	0.70	539
2027-09-17	173	90	0.52	73
2028-01-21	7k	6k	0.81	7
2029-01-19	319	535	1.68	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.