PEP Options Chain Analysis

As of previous close (2026-10-16) · OPRA historical data

Spot $131.56 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.52

136k P / 262k C

Put/Call (Volume)

0.47

12k P / 26k C that session

30d ATM IV

21%

annualized implied move

Call wall

$155

53k contracts

Put wall

$125

22k contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.52 puts per call outstanding.
●Call wall at $155 (53k contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $125 (22k contracts), 5% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 5.3× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 21% — 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 2026-11-13. 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	7k	5k	0.74	9k
2026-10-30	6k	4k	0.74	2k
2026-11-06	2k	1k	0.58	562
2026-11-13	4k	2k	0.37	681
2026-11-20	18k	15k	0.85	5k
2026-11-27	997	214	0.21	685
2026-12-18	40k	16k	0.41	3k
2027-01-15	45k	27k	0.59	2k
2027-03-19	13k	13k	0.96	999
2027-04-16	1k	1k	1.13	199
2027-06-17	9k	10k	1.03	1k
2027-09-17	5k	7k	1.37	208
2028-01-21	22k	10k	0.47	653
2029-01-19	5k	3k	0.51	705

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.