AIG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $75.81.

Put/Call (OI)

1.02

31k P / 31k C

Put/Call (Volume)

0.47

354 P / 754 C today

30d ATM IV

21%

annualized implied move

Call wall

$84

5k contracts

Put wall

$60

7k contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $84 (5k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $60 (7k contracts), 21% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 21% — 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	10k	3k	0.33	257
2026-08-28	273	125	0.46	31
2026-09-04	146	165	1.13	16
2026-09-11	26	17	0.65	7
2026-09-18	3k	2k	0.87	212
2026-09-25	7	89	12.71	3
2026-10-02	3	1	0.33	20
2026-10-16	323	689	2.13	44
2026-11-20	782	1k	1.64	4
2026-12-18	6k	11k	1.88	81
2027-01-15	5k	9k	1.67	355
2027-02-19	47	126	2.68	1
2027-03-19	232	342	1.47	7
2027-06-17	1k	1k	0.97	62
2028-01-21	3k	1k	0.38	8

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