ALB Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $134.37.

Put/Call (OI)

1.06

101k P / 96k C

Put/Call (Volume)

0.64

4k P / 6k C today

30d ATM IV

48%

annualized implied move

Call wall

$300

13k contracts

Put wall

$110

10k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $300 (13k contracts), 123% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $110 (10k contracts), 18% 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	14k	7k	0.50	2k
2026-08-28	1k	1k	0.87	744
2026-09-04	693	709	1.02	548
2026-09-11	240	403	1.68	113
2026-09-18	36k	24k	0.67	650
2026-09-25	74	217	2.93	7
2026-10-02	20	2	0.10	23
2026-10-16	2k	2k	1.04	256
2026-11-20	129	85	0.66	56
2026-12-18	4k	10k	2.35	201
2027-01-15	25k	38k	1.52	515
2027-02-19	1k	1k	1.14	4k
2027-03-19	2k	6k	2.78	54
2027-05-21	643	1k	2.26	13
2027-08-20	586	811	1.38	30
2027-11-19	225	296	1.32	1
2027-12-17	3k	3k	0.97	45
2028-01-21	4k	4k	0.97	11
2028-02-18	395	845	2.14	12

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