PYPL Options Chain Analysis

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

Spot $52.68 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.37

457k P / 1.3M C

Put/Call (Volume)

0.57

16k P / 28k C that session

30d ATM IV

51%

annualized implied move

Call wall

$70

149k contracts

Put wall

$50

52k contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.37 puts per call outstanding.
●Call wall at $70 (149k contracts), 33% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $50 (52k contracts), 5% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 4.5× 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 2026-10-30. 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
2026-10-09	13k	5k	0.40	17k
2026-10-16	84k	51k	0.61	9k
2026-10-23	7k	2k	0.37	469
2026-10-30	3k	2k	0.60	384
2026-11-06	353	710	2.01	126
2026-11-13	24	3	0.13	1k
2026-11-20	50k	45k	0.91	2k
2026-12-18	131k	70k	0.54	867
2027-01-15	336k	113k	0.34	872
2027-03-19	24k	22k	0.90	117
2027-04-16	1k	4k	3.76	105
2027-06-17	6k	7k	1.24	41
2027-09-17	1k	724	0.66	46
2027-12-17	56k	42k	0.76	212
2028-01-21	434k	50k	0.11	2k
2028-12-15	37k	18k	0.49	894
2029-01-19	889	606	0.68	128

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.