MS Options Chain Analysis

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

Spot $190.99 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.50

232k P / 154k C

Put/Call (Volume)

1.05

9k P / 8k C that session

30d ATM IV

33%

annualized implied move

Call wall

$220

21k contracts

Put wall

$190

19k contracts

Tail hedging

1.8×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.50 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $220 (21k contracts), 15% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $190 (19k contracts), 1% 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 2026-10-30. 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	7k	5k	0.76	3k
2026-10-16	26k	22k	0.83	2k
2026-10-23	2k	1k	0.48	933
2026-10-30	550	2k	4.43	498
2026-11-06	97	93	0.96	245
2026-11-13	17	4	0.24	37
2026-11-20	10k	13k	1.26	1k
2026-12-18	17k	31k	1.89	2k
2027-01-15	35k	52k	1.49	760
2027-03-19	11k	18k	1.66	519
2027-04-16	1k	2k	1.47	155
2027-06-17	9k	16k	1.85	2k
2027-09-17	910	6k	6.71	90
2027-12-17	9k	30k	3.40	342
2028-01-21	11k	19k	1.77	1k
2028-12-15	6k	6k	1.06	50
2029-01-19	270	2k	5.56	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.