PYPL Options Chain Analysis

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

Spot $56.52 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.37

446k P / 1.2M C

Put/Call (Volume)

0.13

6k P / 45k C that session

30d ATM IV

45%

annualized implied move

Call wall

$70

149k contracts

Put wall

$50

49k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.37 puts per call outstanding.
●Call wall at $70 (149k contracts), 24% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $50 (49k contracts), 12% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.0× 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 2026-11-13. 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	17k	5k	0.29	16k
2026-10-30	7k	6k	0.78	3k
2026-11-06	1k	1k	0.76	995
2026-11-13	2k	964	0.45	1k
2026-11-20	54k	46k	0.86	3k
2026-11-27	261	430	1.65	203
2026-12-18	133k	72k	0.54	911
2027-01-15	337k	113k	0.34	3k
2027-03-19	25k	23k	0.90	957
2027-04-16	1k	5k	3.84	196
2027-06-17	6k	7k	1.24	91
2027-09-17	1k	1k	0.70	57
2027-12-17	56k	42k	0.76	116
2028-01-21	435k	50k	0.11	206
2028-12-15	37k	19k	0.51	226
2029-01-19	1k	1k	1.00	203

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.