BNS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $91.35.

Put/Call (OI)

0.71

6k P / 9k C

Put/Call (Volume)

0.29

291 P / 996 C today

30d ATM IV

20%

annualized implied move

Call wall

$92.5

560 contracts

Put wall

$72.5

2k contracts

Tail hedging

83.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $92.5 (560 contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $72.5 (2k contracts), 21% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 83.5× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 20% — 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	2k	786	0.38	78
2026-09-18	2k	1k	0.64	396
2026-10-16	134	7	0.05	667
2026-11-20	2k	812	0.39	20
2026-12-18	2k	3k	1.63	102
2027-03-19	349	13	0.04	24

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