SAN Options Chain Analysis

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

Spot $13.27 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.45

17k P / 38k C

Put/Call (Volume)

0.02

1 P / 58 C that session

30d ATM IV

30%

annualized implied move

Call wall

$15

12k contracts

Put wall

$13

8k contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.45 puts per call outstanding.
●Call wall at $15 (12k contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $13 (8k contracts), 2% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 10.8× 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 2026-10-16. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	6k	2k	0.25	7
2026-11-20	307	1k	3.80	0
2026-12-18	13k	6k	0.48	0
2027-03-19	5k	5k	1.01	0
2028-01-21	14k	3k	0.26	51
2029-01-19	1	0	0.00	1

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.