SLB Options Chain Analysis

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

Spot $48.74 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.60

196k P / 327k C

Put/Call (Volume)

0.06

2k P / 38k C that session

30d ATM IV

36%

annualized implied move

Call wall

$65

95k contracts

Put wall

$45

32k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.60 puts per call outstanding.
●Call wall at $65 (95k contracts), 33% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $45 (32k contracts), 8% 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 2026-10-30. 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	1k	879	0.72	620
2026-10-16	39k	9k	0.24	2k
2026-10-23	822	471	0.57	60
2026-10-30	571	450	0.79	265
2026-11-06	91	234	2.57	455
2026-11-13	5	11	2.20	7
2026-11-20	37k	16k	0.43	21k
2026-12-18	21k	22k	1.07	1k
2027-01-15	163k	80k	0.49	10k
2027-02-19	5k	2k	0.40	74
2027-03-19	16k	16k	1.00	704
2027-05-21	59	129	2.19	2
2027-06-17	12k	15k	1.25	183
2027-09-17	2k	2k	1.37	58
2028-01-21	21k	27k	1.31	220
2029-01-19	2k	2k	1.07	728

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.