T Options Chain Analysis

As of previous close (2026-10-14) · OPRA historical data

Spot $23.06 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.60

437k P / 724k C

Put/Call (Volume)

0.29

14k P / 49k C that session

30d ATM IV

31%

annualized implied move

Call wall

$27

95k contracts

Put wall

$20

63k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.60 puts per call outstanding.
●Call wall at $27 (95k contracts), 17% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (63k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.1× 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 2026-11-13. 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	130k	77k	0.59	16k
2026-10-23	28k	14k	0.51	11k
2026-10-30	18k	6k	0.36	4k
2026-11-06	4k	3k	0.71	717
2026-11-13	2k	1k	0.52	425
2026-11-20	55k	32k	0.58	3k
2026-11-27	3k	3k	1.21	2k
2026-12-18	95k	61k	0.64	2k
2027-01-15	193k	104k	0.54	21k
2027-03-19	24k	29k	1.21	638
2027-04-16	9k	4k	0.45	757
2027-06-17	42k	40k	0.97	477
2027-09-17	4k	6k	1.37	350
2027-10-15	4k	3k	0.65	30
2028-01-21	80k	42k	0.52	337
2028-04-21	13k	10k	0.79	28
2029-01-19	22k	3k	0.12	782

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.