BALL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $61.18.

Put/Call (OI)

0.88

13k P / 15k C

Put/Call (Volume)

0.41

128 P / 315 C today

30d ATM IV

25%

annualized implied move

Call wall

$67.5

3k contracts

Put wall

$47.5

4k contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Call wall at $67.5 (3k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $47.5 (4k contracts), 22% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 25% — 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	3k	2k	0.89	238
2026-09-18	4k	4k	0.88	23
2026-10-16	1k	3k	2.29	0
2026-11-20	2k	489	0.32	1
2026-12-18	1k	849	0.81	56
2027-01-15	3k	674	0.22	65
2027-02-19	40	76	1.90	0
2027-03-19	307	1k	3.51	0
2027-06-17	182	194	1.07	60

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