NTRA Options Chain Analysis

As of previous close (2026-10-01) · OPRA historical data

Spot $408.47 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.18

19k P / 16k C

Put/Call (Volume)

0.89

1k P / 2k C that session

30d ATM IV

46%

annualized implied move

Call wall

$420

1k contracts

Put wall

$210

2k contracts

Tail hedging

4.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.18 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $420 (1k contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $210 (2k contracts), 49% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.4× 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	3k	6k	1.81	855
2026-11-20	6k	9k	1.61	771
2026-12-18	1k	1k	0.88	712
2027-01-15	4k	2k	0.64	84
2027-03-19	758	107	0.14	273
2027-04-16	31	87	2.81	8
2027-06-17	701	96	0.14	8
2027-08-20	120	25	0.21	340
2028-01-21	596	102	0.17	11
2029-01-19	179	181	1.01	16

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.