SMCI Options Chain Analysis

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

Spot $43.58 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.99

1.1M P / 1.1M C

Put/Call (Volume)

0.33

99k P / 299k C that session

30d ATM IV

68%

annualized implied move

Call wall

$50

96k contracts

Put wall

$10

142k contracts

Tail hedging

1.8×

deep-OTM puts vs calls

What the positioning says

●Call wall at $50 (96k contracts), 15% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $10 (142k contracts), 77% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 68% — 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 2026-10-30. 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	34k	23k	0.67	130k
2026-10-16	65k	56k	0.86	30k
2026-10-23	20k	18k	0.91	10k
2026-10-30	17k	14k	0.82	12k
2026-11-06	4k	2k	0.52	3k
2026-11-13	58	128	2.21	1k
2026-11-20	93k	48k	0.51	11k
2026-12-18	152k	108k	0.71	13k
2027-01-15	278k	370k	1.33	7k
2027-02-19	10k	11k	1.10	2k
2027-03-19	51k	57k	1.12	6k
2027-05-21	844	574	0.68	336
2027-06-17	39k	28k	0.72	434
2027-09-17	3k	3k	1.11	368
2027-12-17	51k	57k	1.10	872
2028-01-21	91k	134k	1.46	1k
2028-12-15	39k	105k	2.68	1k
2029-01-19	1k	1k	0.82	472

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.