OWL Options Chain Analysis

As of previous close (2026-08-27) · OPRA historical data

Spot $12.1 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.70

530k P / 311k C

Put/Call (Volume)

0.12

2k P / 18k C that session

30d ATM IV

46%

annualized implied move

Call wall

$13

52k contracts

Put wall

$10

105k contracts

Tail hedging

2.8×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.70 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $13 (52k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $10 (105k contracts), 17% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.8× 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 2026-09-25. 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
2026-10-09	0	0	—	2
2026-10-16	43k	35k	0.82	3k
2026-11-20	18k	71k	3.93	809
2026-12-18	16k	7k	0.45	352
2027-01-15	65k	122k	1.86	757
2027-02-19	12k	15k	1.24	166
2027-05-21	306	2k	7.39	23
2027-08-20	414	192	0.46	56
2027-11-19	29	43	1.48	40
2028-01-21	104k	104k	1.00	13k

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.