SPG Options Chain Analysis

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

Spot $200.91 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.29

24k P / 19k C

Put/Call (Volume)

0.47

133 P / 280 C that session

30d ATM IV

20%

annualized implied move

Call wall

$240

3k contracts

Put wall

$165

3k contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.29 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $240 (3k contracts), 19% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $165 (3k contracts), 18% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 20% — calm pricing; option premium is cheap.

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.

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
2026-10-16	4k	4k	1.07	77
2026-11-20	1k	509	0.40	117
2026-12-18	3k	2k	0.70	51
2027-01-15	4k	10k	2.34	55
2027-03-19	2k	3k	1.41	2
2027-04-16	195	54	0.28	24
2027-06-17	854	2k	1.93	51
2027-09-17	265	217	0.82	13
2028-01-21	3k	3k	0.99	19
2029-01-19	199	56	0.28	4

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.