TLN Options Chain Analysis

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

Spot $320.77 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.60

47k P / 79k C

Put/Call (Volume)

0.55

600 P / 1k C that session

30d ATM IV

48%

annualized implied move

Call wall

$400

9k contracts

Put wall

$230

7k contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.60 puts per call outstanding.
●Call wall at $400 (9k contracts), 25% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $230 (7k contracts), 28% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.3× 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 2026-10-30. 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
2026-10-09	582	679	1.17	194
2026-10-16	12k	8k	0.70	197
2026-10-23	308	484	1.57	83
2026-10-30	45	775	17.22	47
2026-11-06	6	7	1.17	7
2026-11-13	1	1	1.00	23
2026-11-20	13k	1k	0.11	348
2026-12-18	13k	9k	0.66	10
2027-01-15	24k	10k	0.40	514
2027-02-19	2k	593	0.35	13
2027-03-19	4k	430	0.12	1
2027-05-21	17	11	0.65	31
2027-06-17	5k	8k	1.84	7
2027-09-17	9	118	13.11	0
2028-01-21	4k	6k	1.40	11
2029-01-19	59	197	3.34	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.