PS Options Chain Analysis

As of previous close (2026-10-02) · OPRA historical data

Spot $53.21 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.55

9k P / 6k C

Put/Call (Volume)

1.71

382 P / 223 C that session

30d ATM IV

78%

annualized implied move

Call wall

$55

603 contracts

Put wall

$30

2k contracts

Tail hedging

6.7×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.55 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $55 (603 contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (2k contracts), 44% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 6.7× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 78% — the market prices very large moves; option premium is expensive.

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	937	2k	1.76	172
2026-11-20	4k	7k	1.57	410
2027-01-15	375	571	1.52	17
2027-02-19	56	77	1.38	0
2027-05-21	15	54	3.60	4
2028-01-21	359	292	0.81	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.