PEP Options Chain Analysis

As of previous close (2026-10-22) · OPRA historical data

Spot $138.74 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.64

131k P / 205k C

Put/Call (Volume)

0.57

18k P / 32k C that session

30d ATM IV

23%

annualized implied move

Call wall

$140

42k contracts

Put wall

$125

26k contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.64 puts per call outstanding.
●Call wall at $140 (42k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $125 (26k contracts), 10% 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 2026-11-20. 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
2026-10-23	17k	9k	0.54	12k
2026-10-30	9k	6k	0.65	7k
2026-11-06	3k	2k	0.48	817
2026-11-13	5k	2k	0.45	3k
2026-11-20	22k	16k	0.74	12k
2026-11-27	3k	557	0.17	1k
2026-12-04	0	0	—	49
2026-12-18	41k	17k	0.42	5k
2027-01-15	46k	27k	0.58	4k
2027-03-19	14k	19k	1.37	3k
2027-04-16	1k	2k	1.10	208
2027-06-17	10k	10k	1.06	1k
2027-09-17	6k	7k	1.29	322
2028-01-21	23k	11k	0.47	760
2029-01-19	5k	3k	0.54	118

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.