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SPY Options Chain – 2026-09-25

Detailed SPY options chain for 2026-09-25 – real-time call and put contracts with last price, bid/ask, volume, open interest, implied volatility, and in-the-money status.

Tip: Use this page together with the price chart, short-term prediction, and multi-expiry options overview to build a complete view of positioning and risk for SPY.

SPY Call Options — 2026-09-25 Expiration

This page focuses on a single options expiration date for SPY – 2026-09-25 – and lists every available call and put contract in a clean chain view. Each row shows the contract symbol, last trade, bid/ask quotes, daily change, percentage change, trading volume, open interest, implied volatility (IV), and whether the option is currently in-the-money (ITM).

Traders often use a specific expiry’s options chain to identify key strike levels, unusual activity, and risk hedging behavior. High open interest around certain strikes or sudden spikes in volume can reveal where large traders and market makers are concentrating their positions for SPY into 2026-09-25.

This SPY 2026-09-25 options chain provides a complete strike-by-strike breakdown of pricing, liquidity and volatility. By comparing changes in volume, open interest distribution and IV across calls and puts, traders can understand where the market is positioning ahead of this specific expiration date.

SPY Call Options — 2026-09-25 Expiration

The table below shows all call options on SPY expiring on 2026-09-25. You can quickly compare strikes, pricing, liquidity (volume and open interest), and implied volatility to spot popular strike zones and potential directional bets.

Contract Strike Last Bid Ask Volume Open Int. Implied Vol ITM
SPY 260925C00825000 825.00 0.41 0.37 0.39 70 1691 11.01%
SPY 260925C00640000 640.00 141 133.99 136.78 0 758 42.95% YES
SPY 260925C00778000 778.00 10.86 10.72 10.81 668 379 13.16%
SPY 260925C00790000 790.00 5.5 5.44 5.52 45 357 12.06%
SPY 260925C00805000 805.00 1.92 1.89 1.91 67 344 11.21%
SPY 260925C00780000 780.00 9.69 9.69 9.77 137 259 12.95%
SPY 260925C00770000 770.00 16.98 15.43 15.6 72 226 14.14% YES
SPY 260925C00810000 810.00 1.34 1.27 1.29 62 200 11.06%
SPY 260925C00786000 786.00 7.51 6.95 7.03 2 192 12.38%
SPY 260925C00800000 800.00 2.82 2.76 2.78 467 170 11.41%
SPY 260925C00775000 775.00 12.5 12.4 12.48 230 164 13.49%
SPY 260925C00779000 779.00 10.49 10.19 10.28 9 136 13.05%
SPY 260925C00815000 815.00 0.89 0.84 0.86 120 132 10.98%
SPY 260925C00820000 820.00 0.58 0.56 0.57 35 131 10.94%
SPY 260925C00795000 795.00 4.08 3.93 3.97 11 126 11.70%
SPY 260925C00772000 772.00 14.25 14.19 14.29 158 126 13.85% YES
SPY 260925C00785000 785.00 7.85 7.37 7.44 108 117 12.46%
SPY 260925C00860000 860.00 0.08 0.05 0.06 12 115 12.89%
SPY 260925C00777000 777.00 11.53 11.26 11.35 20 111 13.26%
SPY 260925C00814000 814.00 1.34 0.91 0.93 4 109 10.98%
SPY 260925C00776000 776.00 11.94 11.82 11.91 134 104 13.38%
SPY 260925C00789000 789.00 6.97 5.8 5.87 5 101 12.13%
SPY 260925C00773000 773.00 13.63 13.58 13.67 279 96 13.72%
SPY 260925C00788000 788.00 6.5 6.16 6.24 57 93 12.21%
SPY 260925C00816000 816.00 1.33 0.77 0.79 8 89 10.96%
SPY 260925C00817000 817.00 0.8 0.71 0.73 55 89 10.96%
SPY 260925C00845000 845.00 0.15 0.1 0.11 6 84 11.84%
SPY 260925C00813000 813.00 1.01 0.99 1.01 68 82 11.00%
SPY 260925C00830000 830.00 0.26 0.26 0.27 52 82 11.13%
SPY 260925C00806000 806.00 1.8 1.75 1.77 15 76 11.18%
SPY 260925C00840000 840.00 0.15 0.13 0.14 49 69 11.51%
SPY 260925C00791000 791.00 5.31 5.12 5.16 7 60 11.96%
SPY 260925C00792000 792.00 4.86 4.8 4.84 53 60 11.89%
SPY 260925C00835000 835.00 0.2 0.18 0.19 135 58 11.28%
SPY 260925C00802000 802.00 2.41 2.38 2.4 24 57 11.33%
SPY 260925C00811000 811.00 1.33 1.17 1.19 15 54 11.04%
SPY 260925C00796000 796.00 3.82 3.67 3.7 64 54 11.63%
SPY 260925C00781000 781.00 10.65 9.19 9.27 1 53 12.84%
SPY 260925C00771000 771.00 16.52 14.78 15.24 121 49 14.29% YES
SPY 260925C00808000 808.00 1.64 1.49 1.51 71 49 11.11%
SPY 260925C00774000 774.00 13.05 12.98 13.07 150 48 13.61%
SPY 260925C00793000 793.00 4.67 4.5 4.54 17 46 11.83%
SPY 260925C00801000 801.00 2.57 2.56 2.59 106 46 11.38%
SPY 260925C00809000 809.00 1.57 1.37 1.4 32 44 11.09%
SPY 260925C00812000 812.00 1.58 1.08 1.1 2 40 11.02%
SPY 260925C00807000 807.00 1.65 1.61 1.64 16 39 11.15%
SPY 260925C00819000 819.00 0.64 0.6 0.62 66 38 10.94%
SPY 260925C00803000 803.00 2.28 2.2 2.23 13 37 11.29%
SPY 260925C00797000 797.00 3.57 3.42 3.46 6 37 11.59%
SPY 260925C00783000 783.00 9.85 8.24 8.33 6 36 12.66%
SPY 260925C00787000 787.00 6.89 6.55 6.62 107 35 12.29%
SPY 260925C00818000 818.00 0.66 0.66 0.67 11 35 10.94%
SPY 260925C00794000 794.00 5.14 4.21 4.24 4 34 11.76%
SPY 260925C00920000 920.00 0.03 0.01 0.02 0 30 17.97%
SPY 260925C00804000 804.00 2.29 2.04 2.07 28 30 11.26%
SPY 260925C00760000 760.00 23.04 22.45 22.69 9 30 15.55% YES
SPY 260925C00822000 822.00 0.51 0.47 0.49 39 29 10.96%
SPY 260925C00720000 720.00 61 56.11 58.9 0 28 24.53% YES
SPY 260925C00768000 768.00 18.71 15.56 18.14 1 27 15.62% YES
SPY 260925C00798000 798.00 3.35 3.19 3.22 23 26 11.53%
SPY 260925C00769000 769.00 17.85 14.89 17.48 2 25 15.49% YES
SPY 260925C00915000 915.00 0.04 0.01 0.02 0 25 17.38%
SPY 260925C00782000 782.00 9.18 8.71 8.79 14 25 12.75%
SPY 260925C00824000 824.00 0.43 0.4 0.42 2 24 10.99%
SPY 260925C00763000 763.00 22.09 18.97 21.68 1 22 16.37% YES
SPY 260925C00784000 784.00 8.48 7.79 7.88 5 21 12.56%
SPY 260925C00758000 758.00 24.4 22.74 25.44 2 19 17.15% YES
SPY 260925C00823000 823.00 0.64 0.44 0.45 1 19 10.96%
SPY 260925C00880000 880.00 0.04 0.03 0.04 12 19 14.65%
SPY 260925C00850000 850.00 0.1 0.08 0.09 10 19 12.21%
SPY 260925C00765000 765.00 18.93 18.72 19.12 25 19 14.93% YES
SPY 260925C00670000 670.00 106.58 104.42 107.21 0 17 35.78% YES
SPY 260925C00755000 755.00 27.43 25.11 27.81 3 15 17.65% YES
SPY 260925C00764000 764.00 19.82 18.25 20.96 1 14 16.22% YES
SPY 260925C00799000 799.00 3.05 2.97 3 16 12 11.48%
SPY 260925C00680000 680.00 100.28 94.62 97.41 0 11 33.44% YES
SPY 260925C00740000 740.00 44.65 37.79 40.59 4 10 20.47% YES
SPY 260925C00730000 730.00 49.32 46.81 49.61 7 10 22.46% YES
SPY 260925C00910000 910.00 0.04 0.01 0.02 0 10 16.90%
SPY 260925C00821000 821.00 0.74 0.51 0.53 5 9 10.96%
SPY 260925C00750000 750.00 32.19 29.2 31.98 3 9 18.61% YES
SPY 260925C00895000 895.00 0.04 0.02 0.03 1 9 15.92%
SPY 260925C00761000 761.00 27.04 20.45 23.16 7 8 16.68% YES
SPY 260925C00710000 710.00 70.78 65.58 68.37 0 7 26.68% YES
SPY 260925C00715000 715.00 62.83 60.81 63.62 921 6 25.60% YES
SPY 260925C00756000 756.00 26.05 24.31 27.01 0 5 17.48% YES
SPY 260925C00700000 700.00 81.89 75.18 77.97 0 4 28.89% YES
SPY 260925C00757000 757.00 29.65 23.52 26.22 0 4 17.31% YES
SPY 260925C00745000 745.00 37.15 33.44 36.23 1 4 19.53% YES
SPY 260925C00767000 767.00 19.26 16.27 18.81 2 4 15.75% YES
SPY 260925C00748000 748.00 35.37 30.88 33.66 0 3 18.97% YES
SPY 260925C00762000 762.00 25.96 19.71 22.41 1 3 16.52% YES
SPY 260925C00741000 741.00 39.83 36.92 39.71 2 2 20.28% YES
SPY 260925C00685000 685.00 94.55 89.73 92.52 0 2 32.28% YES
SPY 260925C00855000 855.00 0.11 0.06 0.08 41 2 12.67%
SPY 260925C00752000 752.00 31.2 27.54 30.24 0 2 18.16% YES
SPY 260925C00690000 690.00 91.5 84.85 87.67 0 2 31.17% YES
SPY 260925C00870000 870.00 0.11 0.04 0.05 0 2 13.82%
SPY 260925C00725000 725.00 52.88 51.43 54.23 0 2 23.49% YES
SPY 260925C00885000 885.00 0.06 0.02 0.03 0 2 14.84%
SPY 260925C00728000 728.00 54.62 48.65 51.45 0 2 22.86% YES
SPY 260925C00737000 737.00 43.52 40.48 43.26 0 1 21.05% YES
SPY 260925C00727000 727.00 52.57 49.59 52.37 0 1 23.07% YES
SPY 260925C00925000 925.00 0.04 0.01 0.02 0 1 18.36%
SPY 260925C00695000 695.00 84.95 80.01 82.8 0 1 30.00% YES
SPY 260925C00723000 723.00 57.13 53.31 56.09 1 1 23.90% YES
SPY 260925C00721000 721.00 61.9 55.17 57.96 0 1 24.32% YES
SPY 260925C00766000 766.00 19.07 18.2 19.52 1 1 15.91% YES
SPY 260925C00738000 738.00 41.34 39.57 42.37 6 1 20.86% YES
SPY 260925C00550000 550.00 229.19 223.26 226.05 0 1 59.08% YES
SPY 260925C00733000 733.00 45.35 44.08 46.87 1 1 21.85% YES
SPY 260925C00865000 865.00 0.04 0.04 0.05 6 1 13.23%
SPY 260925C00600000 600.00 178.21 173.6 176.39 0 1 52.80% YES
SPY 260925C00900000 900.00 0.05 0.02 0.03 0 1 16.41%
SPY 260925C00675000 675.00 106.19 99.5 102.31 0 1 34.62% YES
SPY 260925C00660000 660.00 116.2 114.25 117.04 0 1 38.14% YES
SPY 260925C00743000 743.00 38.71 35.17 37.96 1 1 19.90% YES
SPY 260925C00645000 645.00 136.18 129.03 131.83 0 1 41.72% YES
SPY 260925C00749000 749.00 36.91 30.03 32.82 0 0 18.79% YES
SPY 260925C00590000 590.00 185.4 183.52 186.31 2 0 55.31% YES

SPY Put Options Chain – 2026-09-25

The table below lists all put options on SPY expiring on 2026-09-25. Use it to track downside protection demand, hedge activity, and deep out-of-the-money puts that may indicate tail-risk hedging or speculation.

Contract Strike Last Bid Ask Volume Open Int. Implied Vol ITM
SPY 260925P00735000 735.00 4.03 4.04 4.07 555 1427 16.79%
SPY 260925P00765000 765.00 9.59 9.55 9.63 67 1158 13.08%
SPY 260925P00700000 700.00 1.86 1.85 1.87 113 723 21.50%
SPY 260925P00675000 675.00 1.11 1.19 1.2 92 583 24.98%
SPY 260925P00725000 725.00 3.13 3.16 3.18 517 569 18.10%
SPY 260925P00680000 680.00 1.31 1.29 1.31 26 555 24.30%
SPY 260925P00750000 750.00 6.01 6.07 6.1 134 443 14.86%
SPY 260925P00730000 730.00 3.55 3.57 3.59 979 425 17.44%
SPY 260925P00720000 720.00 2.8 2.81 2.84 865 398 18.78%
SPY 260925P00695000 695.00 1.68 1.68 1.7 110 388 22.19%
SPY 260925P00740000 740.00 4.58 4.6 4.63 1101 374 16.13%
SPY 260925P00780000 780.00 15.52 15.5 15.67 35 328 11.50% YES
SPY 260925P00739000 739.00 4.4 4.48 4.51 46 326 16.26%
SPY 260925P00670000 670.00 1.1 1.1 1.11 229 313 25.69%
SPY 260925P00710000 710.00 2.26 2.26 2.28 673 284 20.11%
SPY 260925P00752000 752.00 6.33 6.43 6.47 60 279 14.62%
SPY 260925P00770000 770.00 11.16 11.22 11.3 109 272 12.52%
SPY 260925P00741000 741.00 4.56 4.72 4.75 16 265 16.00%
SPY 260925P00777000 777.00 13.9 14.1 14.18 164 264 11.77% YES
SPY 260925P00620000 620.00 0.51 0.54 0.55 22 250 32.84%
SPY 260925P00761000 761.00 8.29 8.42 8.5 41 237 13.55%
SPY 260925P00665000 665.00 1.02 1.02 1.03 386 222 26.42%
SPY 260925P00773000 773.00 12.34 12.37 12.45 78 217 12.19% YES
SPY 260925P00500000 500.00 0.11 0.1 0.11 3 215 49.51%
SPY 260925P00776000 776.00 13.56 13.64 13.73 181 211 11.88% YES
SPY 260925P00754000 754.00 6.68 6.82 6.86 16 207 14.37%
SPY 260925P00775000 775.00 13.09 13.2 13.29 150 203 11.99% YES
SPY 260925P00772000 772.00 12.03 11.97 12.05 31 189 12.30%
SPY 260925P00615000 615.00 0.47 0.5 0.51 6 188 33.51%
SPY 260925P00685000 685.00 1.42 1.4 1.42 599 188 23.57%
SPY 260925P00738000 738.00 4.35 4.36 4.39 263 173 16.39%
SPY 260925P00755000 755.00 6.88 7.02 7.06 38 164 14.24%
SPY 260925P00745000 745.00 5.24 5.27 5.3 105 164 15.49%
SPY 260925P00705000 705.00 2.04 2.04 2.06 729 159 20.80%
SPY 260925P00760000 760.00 8.27 8.16 8.24 101 158 13.66%
SPY 260925P00769000 769.00 10.7 10.86 10.94 13 148 12.63%
SPY 260925P00715000 715.00 2.52 2.52 2.54 1261 142 19.45%
SPY 260925P00759000 759.00 7.87 7.92 7.99 42 125 13.78%
SPY 260925P00744000 744.00 5.01 5.12 5.16 36 125 15.62%
SPY 260925P00758000 758.00 7.72 7.68 7.75 11 120 13.90%
SPY 260925P00600000 600.00 0.42 0.41 0.42 19 110 35.65%
SPY 260925P00590000 590.00 0.35 0.36 0.37 25 109 37.06%
SPY 260925P00625000 625.00 0.55 0.58 0.59 8 106 32.15%
SPY 260925P00762000 762.00 8.54 8.69 8.76 86 105 13.42%
SPY 260925P00728000 728.00 3.36 3.39 3.42 256 103 17.71%
SPY 260925P00771000 771.00 11.48 11.59 11.67 23 99 12.41%
SPY 260925P00747000 747.00 5.49 5.57 5.6 22 95 15.23%
SPY 260925P00774000 774.00 12.84 12.78 12.86 24 93 12.09% YES
SPY 260925P00742000 742.00 4.79 4.85 4.89 96 92 15.88%
SPY 260925P00778000 778.00 14.44 14.57 14.65 27 90 11.67% YES
SPY 260925P00550000 550.00 0.19 0.21 0.22 64 85 42.68%
SPY 260925P00756000 756.00 7.07 7.24 7.28 10 77 14.12%
SPY 260925P00731000 731.00 3.66 3.65 3.67 25 75 17.30%
SPY 260925P00768000 768.00 10.5 10.51 10.59 4420 74 12.74%
SPY 260925P00580000 580.00 0.32 0.31 0.32 2 72 38.38%
SPY 260925P00724000 724.00 3.06 3.09 3.11 305 70 18.24%
SPY 260925P00753000 753.00 6.3 6.62 6.66 10 69 14.49%
SPY 260925P00605000 605.00 0.43 0.44 0.45 21 69 34.96%
SPY 260925P00736000 736.00 4.03 4.14 4.17 212 68 16.65%
SPY 260925P00743000 743.00 4.96 4.99 5.02 28 68 15.75%
SPY 260925P00630000 630.00 0.56 0.62 0.63 1 67 31.43%
SPY 260925P00660000 660.00 0.94 0.94 0.96 28 66 27.15%
SPY 260925P00690000 690.00 1.55 1.53 1.55 20 64 22.87%
SPY 260925P00748000 748.00 5.65 5.73 5.76 57 57 15.11%
SPY 260925P00650000 650.00 0.76 0.82 0.83 4 56 28.58%
SPY 260925P00746000 746.00 5.21 5.41 5.45 12 55 15.36%
SPY 260925P00727000 727.00 3.24 3.31 3.34 425 54 17.84%
SPY 260925P00737000 737.00 4.19 4.25 4.28 104 54 16.52%
SPY 260925P00726000 726.00 3.25 3.24 3.26 197 53 17.97%
SPY 260925P00785000 785.00 20.82 18.21 18.43 0 51 11.04% YES
SPY 260925P00791000 791.00 22.99 20.84 22.95 0 50 11.33% YES
SPY 260925P00749000 749.00 5.78 5.89 5.93 10 50 14.98%
SPY 260925P00734000 734.00 3.87 3.94 3.96 354 50 16.91%
SPY 260925P00767000 767.00 10.04 10.18 10.26 7 50 12.85%
SPY 260925P00763000 763.00 8.91 8.97 9.04 13 49 13.31%
SPY 260925P00640000 640.00 0.72 0.71 0.72 12 48 29.99%
SPY 260925P00779000 779.00 14 14.26 16.34 10 40 12.78% YES
SPY 260925P00751000 751.00 6.1 6.24 6.28 22 35 14.73%
SPY 260925P00733000 733.00 3.8 3.84 3.87 277 35 17.05%
SPY 260925P00732000 732.00 3.71 3.74 3.77 207 32 17.18%
SPY 260925P00729000 729.00 3.49 3.48 3.5 146 31 17.57%
SPY 260925P00723000 723.00 3.01 3.01 3.04 308 28 18.37%
SPY 260925P00764000 764.00 9.19 9.25 9.33 97 28 13.19%
SPY 260925P00766000 766.00 9.76 9.86 9.94 5 27 12.97%
SPY 260925P00635000 635.00 0.67 0.66 0.67 10 25 30.69%
SPY 260925P00722000 722.00 2.91 2.95 2.97 380 23 18.51%
SPY 260925P00721000 721.00 2.91 2.88 2.9 106 22 18.63%
SPY 260925P00788000 788.00 19.28 18.85 21.56 2 22 12.21% YES
SPY 260925P00783000 783.00 15.42 15.88 18.47 0 20 12.47% YES
SPY 260925P00645000 645.00 0.68 0.76 0.77 1 20 29.27%
SPY 260925P00560000 560.00 0.21 0.24 0.25 3 20 41.26%
SPY 260925P00525000 525.00 0.21 0.15 0.16 0 17 46.19%
SPY 260925P00610000 610.00 0.43 0.47 0.48 1 16 34.24%
SPY 260925P00757000 757.00 7.16 7.45 7.52 123 16 14.02%
SPY 260925P00800000 800.00 29.29 27.51 30.29 1 13 11.70% YES
SPY 260925P00790000 790.00 21.5 20.16 21.72 7 12 10.75% YES
SPY 260925P00520000 520.00 0.14 0.13 0.14 1 12 46.58%
SPY 260925P00655000 655.00 0.81 0.88 0.89 3 11 27.86%
SPY 260925P00545000 545.00 0.2 0.19 0.2 0 10 43.21%
SPY 260925P00585000 585.00 0.31 0.34 0.35 20 7 37.82%
SPY 260925P00810000 810.00 35.4 36.22 39.01 19 6 11.91% YES
SPY 260925P00540000 540.00 0.26 0.18 0.19 1 5 43.99%
SPY 260925P00795000 795.00 21.56 23.7 26.33 0 5 11.75% YES
SPY 260925P00555000 555.00 0.23 0.22 0.23 1 4 41.85%
SPY 260925P00575000 575.00 0.37 0.29 0.3 0 3 39.09%
SPY 260925P00565000 565.00 0.25 0.25 0.27 0 2 40.63%
SPY 260925P00595000 595.00 0.37 0.38 0.39 0 1 36.30%
SPY 260925P00535000 535.00 0.2 0.17 0.18 0 1 44.73%
SPY 260925P00781000 781.00 14.86 15.88 16.3 7 1 11.52% YES
SPY 260925P00784000 784.00 16.6 16.82 18.67 0 1 12.00% YES
SPY 260925P00786000 786.00 16.8 17.61 20.2 0 1 12.22% YES
SPY 260925P00787000 787.00 22.45 18.58 20.54 0 0 11.85% YES
SPY 260925P00824000 824.00 51.8 50 52.8 2 0 14.39% YES
SPY 260925P00823000 823.00 46.77 49 51.79 0 0 14.16% YES
SPY 260925P00855000 855.00 78.1 81 83.8 0 0 20.27% YES
SPY 260925P00865000 865.00 94.35 91 93.8 0 0 22.04% YES
SPY 260925P00870000 870.00 99.33 96 98.79 0 0 22.87% YES

SPY 2026-09-25 Options Chain FAQ

1. What does this SPY options chain for 2026-09-25 show?

This page displays the full SPY options chain for contracts expiring on 2026-09-25. Both call and put tables include contract symbols, last trade price, bid/ask quotes, daily change and percentage change, trading volume, open interest, implied volatility, and an in-the-money (ITM) flag. It is designed to give you a complete snapshot of how the market is pricing risk and direction for this specific expiry.

2. How can I use this SPY options chain around key events?

Around earnings, macro data releases, or company-specific news, traders often focus on a single expiration such as 2026-09-25. By monitoring changes in implied volatility, volume, and open interest for each strike, you can see where traders are concentrating their bets and hedges. Large shifts in activity on out-of-the-money calls or puts can be early signs of expected volatility or directional moves in SPY.

3. What is the difference between in-the-money and out-of-the-money options here?

The ITM column highlights whether a contract is currently in-the-money for SPY: call options are ITM when their strike is below the current stock price, while put options are ITM when their strike is above the current stock price. ITM contracts have intrinsic value, while out-of-the-money options are purely time and volatility value. This distinction helps you quickly identify which strikes are already “in the money” for this expiry.

4. How should I read implied volatility (IV) in this SPY options table?

Implied volatility reflects how much movement the market expects for SPY between now and 2026-09-25. Higher IV typically means options are more expensive and the market is pricing in larger potential moves. You can compare IV across strikes and between calls and puts to identify skew – for example, expensive downside puts may indicate demand for crash protection, while rich upside calls can signal speculative interest.

5. Can this single-expiry chain replace a full multi-expiry options overview?

No. This 2026-09-25 options chain gives a granular view for one maturity only. For a complete picture of positioning in SPY, you should also review the multi-expiry options overview where you can compare put/call ratios, total open interest and volume across different expiration dates. Combining both perspectives helps you understand whether traders are focused on very short-term moves or longer-dated themes.

6. How often is this SPY options chain for 2026-09-25 updated?

The SPY options data on this page is refreshed regularly during market hours to reflect the latest trades, mid-market quotes, and open interest updates. Intraday changes in volume, open interest, and implied volatility can provide important signals about how sentiment and risk pricing are evolving as 2026-09-25 approaches.