WES Options Chain Analysis

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

Spot $44.49 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.59

14k P / 24k C

Put/Call (Volume)

0.90

464 P / 517 C that session

30d ATM IV

21%

annualized implied move

Call wall

$50

4k contracts

Put wall

$37

2k contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.59 puts per call outstanding.
●Call wall at $50 (4k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $37 (2k contracts), 17% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 21% — calm pricing; option premium is cheap.

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	1k	3k	1.84	29
2026-11-20	7k	2k	0.32	98
2027-01-15	7k	5k	0.66	150
2027-02-19	2k	1k	0.46	290
2027-05-21	166	120	0.72	1
2028-01-21	5k	3k	0.63	319
2029-01-19	840	75	0.09	94

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.