SQM Options Chain Analysis

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

Spot $63.2 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.13

9k P / 8k C

Put/Call (Volume)

0.70

51 P / 73 C that session

30d ATM IV

42%

annualized implied move

Call wall

$80

3k contracts

Put wall

$37.5

1k contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.13 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $80 (3k contracts), 27% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $37.5 (1k contracts), 41% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.5× 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	4k	1k	0.29	34
2026-11-20	145	163	1.12	59
2027-01-15	3k	7k	2.09	28
2027-04-16	73	30	0.41	1
2028-01-21	584	1k	2.09	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.