WAT Options Chain Analysis

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

Spot $425.21 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.72

1k P / 2k C

Put/Call (Volume)

6.50

52 P / 8 C that session

30d ATM IV

29%

annualized implied move

Call wall

$450

838 contracts

Put wall

$370

176 contracts

Tail hedging

3.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $450 (838 contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $370 (176 contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.5× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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.

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	317	50	0.16	0
2026-11-20	295	1k	3.44	56
2027-01-15	1k	156	0.14	0
2027-02-19	77	65	0.84	4
2027-05-21	13	3	0.23	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.