B Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $42.59.

Put/Call (OI)

0.70

352k P / 504k C

Put/Call (Volume)

0.39

10k P / 26k C today

30d ATM IV

43%

annualized implied move

Call wall

$60

51k contracts

Put wall

$30

47k contracts

Tail hedging

1.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.70 puts per call outstanding.
●Call wall at $60 (51k contracts), 41% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (47k contracts), 30% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	39k	22k	0.58	7k
2026-08-28	4k	3k	0.77	2k
2026-09-04	2k	3k	1.55	955
2026-09-11	2k	3k	1.40	220
2026-09-18	75k	61k	0.81	5k
2026-09-25	1k	3k	2.72	496
2026-10-02	4	53	13.25	373
2026-10-16	39k	26k	0.66	2k
2026-12-18	119k	34k	0.29	9k
2027-01-15	135k	123k	0.91	7k
2027-03-19	18k	26k	1.47	532
2027-06-17	13k	23k	1.78	259
2028-01-21	51k	22k	0.43	372
2028-12-15	8k	4k	0.54	716

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