NTES Options Chain Analysis

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

Spot $117.21 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.91

5k P / 6k C

Put/Call (Volume)

2.05

125 P / 61 C that session

30d ATM IV

35%

annualized implied move

Call wall

$125

879 contracts

Put wall

$95

882 contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Call wall at $125 (879 contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $95 (882 contracts), 19% 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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	1k	692	0.61	72
2026-11-20	206	74	0.36	47
2026-12-18	1k	2k	1.66	2
2027-01-15	2k	2k	0.76	25
2027-03-19	438	359	0.82	10
2027-06-17	134	68	0.51	6
2027-09-17	112	70	0.63	1
2028-01-21	473	520	1.10	23

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.