ARXS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-28. Spot $54.01.

Put/Call (OI)

1.22

2k P / 2k C

Put/Call (Volume)

1.92

50 P / 26 C today

30d ATM IV

67%

annualized implied move

Call wall

$60

983 contracts

Put wall

$50

928 contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.22 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $60 (983 contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $50 (928 contracts), 7% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 67% — the market prices very large moves; option premium is expensive.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-09-18	538	1k	2.58	52
2026-10-16	4	5	1.25	22
2026-11-20	557	238	0.43	0
2027-02-19	635	488	0.77	2

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