PAG Options Chain Analysis

As of previous close (2026-09-22) · OPRA historical data

Spot $212.16 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.74

916 P / 1k C

Put/Call (Volume)

131.50

263 P / 2 C that session

30d ATM IV

20%

annualized implied move

Call wall

$230

593 contracts

Put wall

$200

769 contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $230 (593 contracts), 8% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $200 (769 contracts), 6% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 20% — 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	0	11	—	0
2026-11-20	919	857	0.93	250
2027-02-19	315	48	0.15	8
2027-05-21	0	0	—	7

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.