ONON Options Chain, Open Interest, and Volatility Data

ONON Options Open Interest & Strategy Insights

ONON – Top 10 Strike Prices by Open Interest

Strike	Call OI	Put OI	Total OI
45	34716	12021	46737
40	15428	30865	46293
50	35350	4275	39625
32.5	718	38568	39286
35	5953	29420	35373
37.5	3919	19078	22997
42.5	8616	12821	21437
55	15946	2184	18130
31	0	17081	17081
65	15559	430	15989

ONON – Volatility Metrics & Put/Call Analysis

Put/Call OI Ratio	Put/Call Volume Ratio	Avg Call IV	Avg Put IV	IV Skew
2.34	0.48	69.90%	62.31%	-7.59%

Data Analysis

Symbol: ONON Current Price: 36.08
Max Pain: 42.50 (below)

📌 Absolute OI Peak: 45.00 (46737 contracts)
🛡️ Short-term Key Levels: 35.00（35373 contracts，minor support） , 32.50（39286 contracts，major support） , 31.00（17081 contracts，major support）

📈 Put/Call OI Ratio: 2.34 (bearish, Put OI dominant)
Put/Call Volume Ratio: 0.48 (bullish, Call volume dominant)

📊 Avg Call IV: 69.90%
Avg Put IV: 62.31%
IV Skew: -7.59% (Call IV higher than Put IV by 7.59%, upward expectation slightly stronger)

⚠️ Unusual OI concentration at far OTM strike 45.00 (46737 contracts), sentiment: bullish (Call OI dominant). May reflect speculative bets or hedging demand.

Market Sentiment Based on Options by Expiration Date

Date	Call Volume	Put Volume	Open Interest	Put/Call Ratio	Sentiment
2025-11-07	1078	230	10372	0.213	Moderate Bullish 📈 (70) ⚠️
2025-11-14	2694	91	17535	0.034	Moderate Bullish 📈 (70) ⚠️
2025-11-21	2029	152	80970	0.075	Strong Bullish 📈💥 (85) ⚠️
2025-11-28	62	76	858	1.226	Slight Bearish 📉 (40)
2025-12-05	14	11	307	0.786	Slight Bullish 📈 (60)
2025-12-12	5	0	7	0.000	Moderate Bullish 📈 (70) ⚠️
2025-12-19	778	314	22749	0.404	Moderate Bullish 📈 (70)
2026-01-16	1058	144	105421	0.136	Strong Bullish 📈💥 (85) ⚠️
2026-02-20	102	72	5556	0.706	Slight Bullish 📈 (60)
2026-03-20	256	168	12914	0.656	Slight Bullish 📈 (60)
2026-04-17	109	184	2503	1.688	Moderate Bearish 📉 (30)
2026-06-18	371	465	10242	1.253	Slight Bearish 📉 (40)
2026-09-18	107	75	3776	0.701	Slight Bullish 📈 (60)
2026-12-18	622	85	7552	0.137	Moderate Bullish 📈 (70) ⚠️
2027-01-15	852	27	28038	0.032	Moderate Bullish 📈 (70) ⚠️
2028-01-21	75	87	2091	1.160	Slight Bearish 📉 (40)
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.