SW Options Chain Analysis

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

Spot $46.39 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.26

4k P / 14k C

Put/Call (Volume)

0.00

0 P / 6 C that session

30d ATM IV

37%

annualized implied move

Call wall

$50

12k contracts

Put wall

$45

2k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.26 puts per call outstanding.
●Call wall at $50 (12k contracts), 8% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $45 (2k contracts), 3% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-09-18	7k	2k	0.30	2
2026-10-16	2k	796	0.34	3
2027-01-15	5k	963	0.18	1
2027-04-16	3	2	0.67	0

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.