LMT Options Chain Analysis

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

Spot $505.89 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.79

38k P / 48k C

Put/Call (Volume)

0.76

2k P / 2k C that session

30d ATM IV

31%

annualized implied move

Call wall

$600

4k contracts

Put wall

$500

3k contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Call wall at $600 (4k contracts), 19% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $500 (3k contracts), 1% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.4× 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 2026-10-30. 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	2k	1k	0.61	1k
2026-10-16	4k	3k	0.77	745
2026-10-23	1k	3k	2.27	222
2026-10-30	710	1k	1.52	112
2026-11-06	95	136	1.43	44
2026-11-13	25	32	1.28	33
2026-11-20	5k	4k	0.71	371
2026-12-18	7k	6k	0.93	149
2027-01-15	12k	11k	0.86	203
2027-03-19	3k	2k	0.60	118
2027-05-21	2k	1k	0.57	31
2027-06-17	1k	1k	0.68	48
2027-09-17	604	335	0.55	47
2028-01-21	6k	3k	0.56	122
2029-01-19	98	86	0.88	30

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.