MKC Options Chain Analysis

As of previous close (2026-09-03) · OPRA historical data

Spot $54.26 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.53

18k P / 34k C

Put/Call (Volume)

0.08

59 P / 712 C that session

30d ATM IV

35%

annualized implied move

Call wall

$60

11k contracts

Put wall

$50

7k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.53 puts per call outstanding.
●Call wall at $60 (11k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $50 (7k contracts), 8% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.1× 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 2026-10-16. 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	813	582	0.72	62
2026-12-18	4k	3k	0.63	578
2027-01-15	10k	3k	0.32	48
2027-03-19	1k	1k	1.26	0
2027-06-17	929	524	0.56	1
2027-09-17	17	76	4.47	8

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.