KEY Options Chain Analysis

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

Spot $20.08 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.67

41k P / 62k C

Put/Call (Volume)

1.02

297 P / 292 C that session

30d ATM IV

25%

annualized implied move

Call wall

$25

18k contracts

Put wall

$20

11k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.67 puts per call outstanding.
●Call wall at $25 (18k contracts), 25% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (11k contracts), 0% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 25% — calm pricing; option premium is cheap.

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.

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
2026-10-16	9k	3k	0.35	166
2026-11-20	7k	2k	0.33	82
2026-12-18	14k	7k	0.55	186
2027-01-15	17k	18k	1.08	86
2027-03-19	2k	2k	1.29	14
2027-06-17	4k	4k	0.98	0
2027-09-17	141	102	0.72	2
2027-12-17	3k	2k	0.64	2
2028-01-21	5k	3k	0.48	7
2029-01-19	2k	190	0.08	44

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.