SN Options Chain Analysis

As of previous close (2026-09-02) · OPRA historical data

Spot $174.56 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

2.21

16k P / 7k C

Put/Call (Volume)

0.88

147 P / 168 C that session

30d ATM IV

38%

annualized implied move

Call wall

$195

2k contracts

Put wall

$155

3k contracts

Tail hedging

1.8×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.21 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $195 (2k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $155 (3k contracts), 11% below spot — the hedge floor; often acts as support.

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 2026-09-18. 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
2026-09-18	4k	12k	3.11	150
2026-10-16	388	1k	2.83	85
2026-12-18	732	437	0.60	16
2027-01-15	1k	1k	1.05	44
2027-03-19	197	278	1.41	18
2028-01-21	1k	1k	1.10	2

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.