ZLAB Options Chain Analysis

As of previous close (2026-08-28) · OPRA historical data

Spot $26.86 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.90

9k P / 5k C

Put/Call (Volume)

6.30

1k P / 161 C that session

30d ATM IV

47%

annualized implied move

Call wall

$30

2k contracts

Put wall

$20

4k contracts

Tail hedging

2.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.90 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $30 (2k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (4k contracts), 26% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.4× 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 2026-09-18. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	4	43	10.75	312
2026-12-18	371	3k	8.03	460
2027-01-15	3k	2k	0.73	9
2027-03-19	348	1k	3.95	310
2027-12-17	311	2k	6.45	80

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.