AME Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $254.17.

Put/Call (OI)

0.44

8k P / 17k C

Put/Call (Volume)

0.38

123 P / 320 C today

30d ATM IV

24%

annualized implied move

Call wall

$260

4k contracts

Put wall

$230

3k contracts

Tail hedging

3.9×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.44 puts per call outstanding.
●Call wall at $260 (4k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $230 (3k contracts), 10% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.9× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 24% — 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	5k	0.51	271
2026-09-18	4k	2k	0.43	151
2026-10-16	0	0	—	6
2026-11-20	2k	631	0.29	12
2026-12-18	243	113	0.47	2
2027-03-19	885	12	0.01	1

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