BA Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $226.3.

Put/Call (OI)

0.87

374k P / 432k C

Put/Call (Volume)

0.71

21k P / 30k C today

30d ATM IV

30%

annualized implied move

Call wall

$250

49k contracts

Put wall

$200

27k contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $250 (49k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $200 (27k contracts), 12% 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.

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	110k	74k	0.67	17k
2026-08-28	8k	4k	0.54	4k
2026-09-04	3k	3k	1.02	2k
2026-09-11	2k	808	0.33	1k
2026-09-18	71k	60k	0.85	6k
2026-09-25	1k	422	0.31	4k
2026-10-02	66	18	0.27	138
2026-10-16	10k	7k	0.70	1k
2026-11-20	27k	39k	1.43	987
2026-12-18	65k	52k	0.80	2k
2027-01-15	74k	80k	1.08	3k
2027-02-19	4k	4k	0.91	2k
2027-03-19	6k	14k	2.32	1k
2027-06-17	13k	12k	0.94	2k
2028-01-21	31k	16k	0.50	2k
2028-06-16	1k	2k	1.21	1k
2028-12-15	4k	6k	1.57	2k

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