ELAN Options Chain, Open Interest, and Volatility Data

ELAN Options Open Interest & Strategy Insights

ELAN – Top 10 Strike Prices by Open Interest

Strike	Call OI	Put OI	Total OI
20	1914	11609	13523
18	416	8762	9178
19	614	4438	5052
21	345	3883	4228
22	2831	157	2988
25	2234	2	2236
17	1311	115	1426
12	585	664	1249
10	589	481	1070
15	741	250	991

ELAN – Volatility Metrics & Put/Call Analysis

Put/Call OI Ratio	Put/Call Volume Ratio	Avg Call IV	Avg Put IV	IV Skew
2.46	5.06	62.11%	54.48%	-7.63%

Data Analysis

Symbol: ELAN Current Price: 21.60
Max Pain: 18.00 (above)

📌 Absolute OI Peak: 20.00 (13523 contracts)
🛡️ Short-term Key Levels: 21.00（4228 contracts，minor support） , 19.00（5052 contracts，major support） , 18.00（9178 contracts，major support）

📈 Put/Call OI Ratio: 2.46 (bearish, Put OI dominant)
Put/Call Volume Ratio: 5.06 (bearish, Put volume dominant)

📊 Avg Call IV: 62.11%
Avg Put IV: 54.48%
IV Skew: -7.63% (Call IV higher than Put IV by 7.63%, upward expectation slightly stronger)

Market Sentiment Based on Options by Expiration Date

Date	Call Volume	Put Volume	Open Interest	Put/Call Ratio	Sentiment
2025-11-21	435	2659	10491	6.113	Moderate Bearish 📉 (30) ⚠️
2025-12-19	126	111	2087	0.881	Slight Bullish 📈 (60)
2026-01-16	25	2426	21987	97.040	Moderate Bearish 📉 (30) ⚠️
2026-04-17	156	146	2057	0.936	Neutral ⚖️ (50)
2027-01-15	87	36	1477	0.414	Moderate Bullish 📈 (70)
How the Sentiment Algorithm Works This table evaluates market sentiment based on aggregated options data by expiration date. The key metrics are: Put/Call Ratio (PCR): Indicates the relative activity between put and call options. A high PCR suggests bearish sentiment, while a low PCR indicates bullish sentiment. Open Interest (OI): Represents the number of outstanding contracts. Higher values reflect strong market attention or hedging activity. Unusual activity ⚠️: Days with extremely high PCR or OI are flagged, signaling possible speculative bets or hedging pressures. The sentiment score is computed by combining PCR and OI, then classified into clear labels such as Strong Bullish, Moderate Bullish, Neutral, Moderate Bearish, Strong Bearish. Scores range from 0 to 100, where higher values indicate stronger bullish sentiment and lower values indicate stronger bearish sentiment.