PDD Options Chain Analysis

As of previous close (2026-10-08) · OPRA historical data

Spot $78.1 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.73

423k P / 581k C

Put/Call (Volume)

1.21

17k P / 14k C that session

30d ATM IV

28%

annualized implied move

Call wall

$80

56k contracts

Put wall

$75

55k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Call wall at $80 (56k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $75 (55k contracts), 4% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.9× 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 2026-11-06. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	14k	7k	0.50	2k
2026-10-16	54k	46k	0.84	4k
2026-10-23	4k	3k	0.88	967
2026-10-30	4k	2k	0.62	170
2026-11-06	796	947	1.19	141
2026-11-13	210	236	1.12	911
2026-11-20	33k	38k	1.13	2k
2026-11-27	0	0	—	4
2026-12-18	91k	82k	0.90	7k
2027-01-15	169k	94k	0.55	9k
2027-03-19	33k	40k	1.23	2k
2027-04-16	579	5k	7.81	67
2027-06-17	90k	64k	0.70	2k
2027-09-17	18k	18k	1.01	116
2028-01-21	69k	23k	0.33	1k
2029-01-19	1k	2k	1.24	205

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.