APG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $44.66.

Put/Call (OI)

0.70

12k P / 17k C

Put/Call (Volume)

0.03

5 P / 179 C today

30d ATM IV

38%

annualized implied move

Call wall

$47

16k contracts

Put wall

$40

6k contracts

Tail hedging

21.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $47 (16k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $40 (6k contracts), 10% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 21.6× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	420	11k	26.51	137
2026-09-18	30	35	1.17	8
2026-10-16	16k	316	0.02	21
2027-01-15	417	713	1.71	18

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