MMM Options Chain Analysis

As of previous close (2026-10-16) · OPRA historical data

Spot $164.75 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.67

47k P / 69k C

Put/Call (Volume)

0.84

3k P / 4k C that session

30d ATM IV

33%

annualized implied move

Call wall

$175

18k contracts

Put wall

$160

8k contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.67 puts per call outstanding.
●Call wall at $175 (18k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $160 (8k contracts), 3% below spot — the hedge floor; often acts as support.

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 2026-11-13. 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
2026-10-23	2k	2k	0.73	2k
2026-10-30	1k	2k	1.50	150
2026-11-06	193	751	3.89	33
2026-11-13	306	325	1.06	42
2026-11-20	20k	4k	0.19	3k
2026-11-27	57	34	0.60	6
2026-12-18	6k	6k	1.03	251
2027-01-15	15k	15k	0.95	208
2027-03-19	4k	3k	0.81	42
2027-04-16	369	206	0.56	34
2027-06-17	3k	3k	0.98	5
2027-09-17	1k	1k	0.92	5
2028-01-21	3k	2k	0.61	11
2029-01-19	89	12	0.13	9

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.