KEP Options Chain Analysis

As of previous close (2026-10-21) · OPRA historical data

Spot $10.62 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.15

817 P / 711 C

Put/Call (Volume)

2.00

2 P / 1 C that session

30d ATM IV

37%

annualized implied move

Call wall

$12.5

334 contracts

Put wall

$10

494 contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.15 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $12.5 (334 contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $10 (494 contracts), 6% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.1× deep-OTM put OI — speculative upside positioning dominates the tails.

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 2026-11-20. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-11-20	249	18	0.07	2
2026-12-18	338	513	1.52	1
2027-03-19	124	286	2.31	0
2027-06-17	0	0	—	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.