BNTX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $91.6.

Put/Call (OI)

0.75

21k P / 28k C

Put/Call (Volume)

2.31

972 P / 421 C today

30d ATM IV

40%

annualized implied move

Call wall

$110

5k contracts

Put wall

$80

4k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $110 (5k contracts), 20% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $80 (4k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.2× deep-OTM put OI — speculative upside positioning dominates the tails.

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	9k	5k	0.59	61
2026-09-18	8k	11k	1.34	336
2026-12-18	2k	840	0.37	423
2027-01-15	6k	4k	0.59	553
2027-03-19	18	79	4.39	19
2027-05-21	230	118	0.51	0
2027-08-20	32	126	3.94	0
2027-11-19	156	11	0.07	0
2028-01-21	3k	639	0.24	1

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