ALL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $258.1.

Put/Call (OI)

1.62

25k P / 15k C

Put/Call (Volume)

0.25

167 P / 661 C today

30d ATM IV

21%

annualized implied move

Call wall

$260

2k contracts

Put wall

$240

5k contracts

Tail hedging

4.7×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.62 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $260 (2k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $240 (5k contracts), 7% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.7× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●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	3k	6k	2.25	160
2026-09-18	4k	8k	2.25	183
2026-10-16	1k	1k	0.91	97
2026-12-18	2k	2k	1.25	81
2027-01-15	4k	4k	1.21	300
2027-03-19	1k	1k	1.04	2
2027-06-17	818	1k	1.32	5

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