KHC Options Chain Analysis

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

Spot $22.25 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.46

127k P / 278k C

Put/Call (Volume)

0.60

5k P / 9k C that session

30d ATM IV

25%

annualized implied move

Call wall

$25

52k contracts

Put wall

$20

28k contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.46 puts per call outstanding.
●Call wall at $25 (52k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (28k contracts), 10% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 4.3× deep-OTM put OI — speculative upside positioning dominates the tails.
●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 2026-10-30. 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	45k	2k	0.05	3k
2026-10-16	31k	15k	0.50	2k
2026-10-23	2k	1k	0.54	234
2026-10-30	1k	1k	0.86	591
2026-11-06	518	362	0.70	256
2026-11-13	8	32	4.00	89
2026-11-20	5k	2k	0.41	730
2026-12-18	34k	28k	0.84	2k
2027-01-15	61k	32k	0.53	854
2027-03-19	7k	10k	1.33	338
2027-04-16	384	2k	5.42	122
2027-06-17	7k	8k	1.15	566
2027-09-17	1k	1k	0.80	347
2028-01-21	31k	19k	0.62	190
2029-01-19	1k	488	0.45	258

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.