ITUB Options Chain Analysis

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

Spot $8.44 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.61

39k P / 24k C

Put/Call (Volume)

0.10

113 P / 1k C that session

30d ATM IV

62%

annualized implied move

Call wall

8k contracts

Put wall

18k contracts

Tail hedging

2.6×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.61 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $9 (8k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $8 (18k contracts), 5% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.6× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 62% — 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	7k	5k	0.71	1k
2026-11-20	4k	3k	0.72	84
2026-12-18	9k	9k	1.06	33
2027-01-15	5k	8k	1.54	1
2027-02-19	5	7	1.40	0
2027-03-19	9	7k	755.89	0
2027-06-17	172	8k	46.63	0
2027-09-17	1	0	0.00	0
2027-12-17	57	1	0.02	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.