NVS Options Chain Analysis

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

Spot $141.05 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

2.15

81k P / 38k C

Put/Call (Volume)

2.99

2k P / 669 C that session

30d ATM IV

23%

annualized implied move

Call wall

$155

5k contracts

Put wall

$140

11k contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.15 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $155 (5k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $140 (11k contracts), 1% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 23% — calm pricing; option premium is cheap.

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	11k	16k	1.45	200
2026-11-20	6k	11k	1.88	145
2026-12-18	5k	8k	1.69	480
2027-01-15	9k	34k	3.64	1k
2027-04-16	575	1k	1.82	463
2027-06-17	3k	6k	2.14	5
2027-12-17	1k	2k	1.61	0
2028-01-21	2k	4k	1.51	1
2029-01-19	48	1	0.02	0

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.