AKAM Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $122.98.

Put/Call (OI)

0.55

78k P / 142k C

Put/Call (Volume)

0.47

2k P / 4k C today

30d ATM IV

46%

annualized implied move

Call wall

$140

14k contracts

Put wall

$100

8k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.55 puts per call outstanding.
●Call wall at $140 (14k contracts), 14% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $100 (8k contracts), 19% below spot — the hedge floor; often acts as support.

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	28k	12k	0.43	2k
2026-08-28	1k	1k	1.03	839
2026-09-04	263	398	1.51	369
2026-09-11	305	163	0.53	150
2026-09-18	15k	15k	0.98	842
2026-09-25	695	969	1.39	50
2026-10-02	3	0	0.00	2
2026-10-16	990	437	0.44	473
2026-11-20	4k	6k	1.38	27
2026-12-18	6k	3k	0.43	676
2027-01-15	25k	15k	0.60	168
2027-02-19	41	232	5.66	0
2027-03-19	1k	430	0.33	11
2027-06-17	2k	478	0.25	10
2027-12-17	6k	2k	0.36	7
2028-01-21	36k	13k	0.35	25
2028-12-15	14k	8k	0.59	1k

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