NVO Options Chain Analysis

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

Spot $37.36 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.62

575k P / 922k C

Put/Call (Volume)

1.17

27k P / 23k C that session

30d ATM IV

28%

annualized implied move

Call wall

$50

108k contracts

Put wall

$35

101k contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.62 puts per call outstanding.
●Call wall at $50 (108k contracts), 34% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $35 (101k contracts), 6% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 8.9× deep-OTM put OI — speculative upside positioning dominates the tails.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	10k	5k	0.47	6k
2026-10-16	112k	67k	0.60	12k
2026-10-23	4k	7k	1.59	1k
2026-10-30	8k	29k	3.69	1k
2026-11-06	2k	3k	1.02	550
2026-11-13	51	24	0.47	93
2026-11-20	46k	60k	1.32	6k
2026-12-18	103k	69k	0.67	4k
2027-01-15	286k	114k	0.40	2k
2027-03-19	37k	46k	1.24	3k
2027-06-17	65k	57k	0.87	5k
2027-09-17	6k	13k	2.42	313
2027-12-17	61k	37k	0.61	243
2028-01-21	120k	39k	0.33	752
2028-06-16	9k	7k	0.77	65
2028-12-15	22k	8k	0.37	79
2029-01-19	4k	2k	0.59	335

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.