LIN Options Chain Analysis

As of previous close (2026-09-18) · OPRA historical data

Spot $461.5 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.40

34k P / 25k C

Put/Call (Volume)

0.98

879 P / 899 C that session

30d ATM IV

21%

annualized implied move

Call wall

$510

2k contracts

Put wall

$460

4k contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.40 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $510 (2k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $460 (4k contracts), 0% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.6× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 21% — 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	3k	4k	1.43	874
2026-11-20	3k	7k	2.62	41
2026-12-18	3k	4k	1.31	71
2027-01-15	5k	8k	1.67	144
2027-03-19	2k	2k	1.34	195
2027-04-16	36	178	4.94	52
2027-06-17	1k	2k	2.02	68
2027-09-17	180	112	0.62	19
2028-01-21	1k	939	0.63	72
2029-01-19	19	2	0.11	10

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.