MU Options Chain Analysis

As of previous close (2026-09-30) · OPRA historical data

Spot $1,066.4 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.02

1.6M P / 1.6M C

Put/Call (Volume)

0.68

256k P / 377k C that session

30d ATM IV

60%

annualized implied move

Call wall

$1,300

51k contracts

Put wall

$600

54k contracts

Tail hedging

1.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $1,300 (51k contracts), 22% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $600 (54k contracts), 44% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 60% — the market prices very large moves; option premium is expensive.

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
2026-10-02	151k	203k	1.35	350k
2026-10-05	14k	11k	0.73	34k
2026-10-07	3k	2k	0.73	11k
2026-10-09	31k	34k	1.10	38k
2026-10-12	1k	553	0.41	5k
2026-10-14	204	321	1.57	8k
2026-10-16	204k	198k	0.97	69k
2026-10-23	12k	19k	1.59	6k
2026-10-30	14k	14k	0.99	9k
2026-11-06	3k	3k	1.11	4k
2026-11-20	122k	127k	1.04	32k
2026-12-18	157k	228k	1.45	14k
2027-01-15	259k	249k	0.96	20k
2027-02-19	34k	42k	1.23	2k
2027-03-19	92k	87k	0.94	5k
2027-04-16	9k	14k	1.59	2k
2027-06-17	124k	112k	0.90	5k
2027-07-16	1k	3k	2.80	564
2027-09-17	50k	31k	0.63	2k
2027-12-17	84k	53k	0.64	2k
2028-01-21	105k	77k	0.74	4k
2028-06-16	35k	31k	0.88	4k
2028-12-15	82k	75k	0.92	3k
2029-01-19	3k	2k	0.80	3k

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.