ZBRA Options Chain Analysis

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

Spot $375.86 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.39

5k P / 3k C

Put/Call (Volume)

1.24

42 P / 34 C that session

30d ATM IV

29%

annualized implied move

Call wall

$430

506 contracts

Put wall

$270

2k contracts

Tail hedging

2.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.39 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $430 (506 contracts), 14% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $270 (2k contracts), 28% 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.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	283	548	1.94	12
2026-11-20	1k	1k	1.09	20
2026-12-18	638	811	1.27	9
2027-02-19	734	2k	2.76	28
2027-05-21	413	8	0.02	1
2027-08-20	376	323	0.86	6

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.