BLK Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-19. Spot $1,154.35.

Put/Call (OI)

0.95

20k P / 21k C

Put/Call (Volume)

0.92

297 P / 324 C today

30d ATM IV

23%

annualized implied move

Call wall

$1,760

2k contracts

Put wall

$1,100

976 contracts

Tail hedging

2.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $1,760 (2k contracts), 52% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $1,100 (976 contracts), 5% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.6× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 23% — 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	4k	3k	0.80	170
2026-08-28	729	1k	1.50	66
2026-09-04	307	319	1.04	111
2026-09-11	243	136	0.56	6
2026-09-18	4k	4k	0.87	61
2026-09-25	80	76	0.95	23
2026-10-02	7	48	6.86	48
2026-10-16	1k	2k	1.14	25
2026-11-20	20	9	0.45	18
2026-12-18	2k	2k	1.35	14
2027-01-15	6k	5k	0.82	36
2027-03-19	620	664	1.07	14
2027-06-17	244	310	1.27	22
2028-01-21	1k	1k	0.88	5
2028-12-15	350	639	1.83	2

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