AEHR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $145.65.

Put/Call (OI)

1.01

60k P / 59k C

Put/Call (Volume)

0.87

5k P / 5k C today

30d ATM IV

117%

annualized implied move

Call wall

$175

3k contracts

Put wall

$7.5

13k contracts

Tail hedging

12.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $175 (3k contracts), 20% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $7.5 (13k contracts), 95% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 12.9× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 117% — the market prices very large moves; option premium is expensive.

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 today
2026-08-21	9k	11k	1.26	5k
2026-08-28	1k	1k	1.08	904
2026-09-04	638	720	1.13	208
2026-09-11	276	304	1.10	348
2026-09-18	8k	9k	1.19	2k
2026-09-25	378	1k	3.10	212
2026-10-02	119	18	0.15	99
2026-12-18	4k	2k	0.57	202
2027-01-15	20k	29k	1.44	363
2027-03-19	579	92	0.16	84
2028-01-21	13k	4k	0.32	123
2028-12-15	2k	557	0.24	42

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