KC Options Chain Analysis

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

Spot $9.23 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.36

4k P / 10k C

Put/Call (Volume)

0.04

31 P / 694 C that session

30d ATM IV

62%

annualized implied move

Call wall

$10

4k contracts

Put wall

$7.5

422 contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.36 puts per call outstanding.
●Call wall at $10 (4k contracts), 8% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $7.5 (422 contracts), 19% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 7.7× deep-OTM put OI — speculative upside positioning dominates the tails.
●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	1k	381	0.30	670
2026-11-20	3k	572	0.18	15
2027-01-15	4k	2k	0.54	13
2027-02-19	248	198	0.80	5
2027-05-21	60	0	0.00	0
2028-01-21	2k	395	0.24	22

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.