W Options Chain Analysis

As of previous close (2026-10-01) · OPRA historical data

Spot $102.67 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.29

111k P / 86k C

Put/Call (Volume)

2.86

6k P / 2k C that session

30d ATM IV

69%

annualized implied move

Call wall

$105

11k contracts

Put wall

$100

12k contracts

Tail hedging

2.3×

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 $105 (11k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $100 (12k contracts), 3% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 69% — the market prices very large moves; option premium is expensive.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-02	3k	3k	0.95	1k
2026-10-09	1k	1k	1.04	286
2026-10-16	7k	5k	0.68	1k
2026-10-23	2k	976	0.55	52
2026-10-30	359	5k	12.79	1k
2026-11-06	11	68	6.18	75
2026-11-13	0	0	—	0
2026-11-20	7k	14k	2.12	1k
2026-12-18	12k	8k	0.68	224
2027-01-15	29k	39k	1.35	32
2027-02-19	575	227	0.39	0
2027-03-19	3k	15k	5.96	2k
2027-05-21	0	3	—	0
2027-06-17	3k	891	0.32	1
2027-08-20	9k	9k	1.01	2
2027-12-17	5k	8k	1.65	43
2028-01-21	7k	4k	0.52	44
2029-01-19	254	1	0.00	24

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.