PHM Options Chain Analysis

As of previous close (2026-10-01) · OPRA historical data

Spot $116.35 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.32

11k P / 9k C

Put/Call (Volume)

1.38

413 P / 299 C that session

30d ATM IV

38%

annualized implied move

Call wall

$130

1k contracts

Put wall

$105

2k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.32 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $130 (1k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $105 (2k contracts), 10% below spot — the hedge floor; often acts as support.

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 2026-10-30. 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
2026-10-02	325	255	0.78	166
2026-10-09	360	346	0.96	17
2026-10-16	2k	4k	1.78	109
2026-10-23	554	471	0.85	50
2026-10-30	59	24	0.41	12
2026-11-06	1	7	7.00	0
2026-11-13	0	0	—	2
2026-11-20	762	359	0.47	139
2026-12-18	445	409	0.92	40
2027-01-15	3k	3k	0.97	63
2027-03-19	313	1k	3.79	52
2027-04-16	51	30	0.59	0
2027-06-17	105	507	4.83	0
2027-09-17	62	663	10.69	59
2028-01-21	953	907	0.95	1
2029-01-19	10	5	0.50	2

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.