AEE Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $109.47.

Put/Call (OI)

0.19

400 P / 2k C

Put/Call (Volume)

0.80

20 P / 25 C today

30d ATM IV

17%

annualized implied move

Call wall

$115

818 contracts

Put wall

$105

89 contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.19 puts per call outstanding.
●Call wall at $115 (818 contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $105 (89 contracts), 4% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 17% — calm pricing; option premium is cheap.

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.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	797	68	0.09	14
2026-09-18	1k	216	0.21	15
2026-12-18	275	113	0.41	0
2027-03-19	18	3	0.17	16

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.