NTAP Options Chain Analysis

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

Spot $226.27 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.75

20k P / 26k C

Put/Call (Volume)

0.54

3k P / 6k C that session

30d ATM IV

50%

annualized implied move

Call wall

$280

2k contracts

Put wall

$125

2k contracts

Tail hedging

3.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $280 (2k contracts), 24% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $125 (2k contracts), 45% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.6× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	7k	5k	0.66	3k
2026-11-20	4k	2k	0.46	2k
2026-12-18	5k	3k	0.63	3k
2027-01-15	5k	6k	1.22	470
2027-03-19	2k	1k	0.75	425
2027-06-17	276	1k	4.45	53
2027-09-17	551	17	0.03	11
2028-01-21	2k	1k	0.49	27
2029-01-19	22	3	0.14	226

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.