XPO Options Chain Analysis

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

Spot $186.09 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

3.48

18k P / 5k C

Put/Call (Volume)

0.98

249 P / 253 C that session

30d ATM IV

38%

annualized implied move

Call wall

$220

1k contracts

Put wall

$155

8k contracts

Tail hedging

4.5×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 3.48 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $220 (1k contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $155 (8k contracts), 17% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.5× 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	659	9k	13.56	251
2026-11-20	313	5k	14.56	218
2026-12-18	398	388	0.97	29
2027-01-15	2k	2k	1.17	1
2027-02-19	195	110	0.56	0
2027-03-19	703	668	0.95	2
2027-05-21	0	1	—	0
2027-06-17	618	633	1.02	1
2027-09-17	35	13	0.37	0
2027-12-17	553	443	0.80	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.