CARR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $62.3.

Put/Call (OI)

1.59

85k P / 54k C

Put/Call (Volume)

26.73

14k P / 520 C today

30d ATM IV

31%

annualized implied move

Call wall

$75

17k contracts

Put wall

$57

21k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.59 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $75 (17k contracts), 20% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $57 (21k contracts), 9% 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	5k	31k	6.11	119
2026-08-28	320	1k	4.11	965
2026-09-04	78	55	0.71	8
2026-09-11	680	13k	19.58	7
2026-09-18	27k	18k	0.66	618
2026-09-25	3	10	3.33	12k
2026-10-02	0	0	—	6
2026-12-18	4k	6k	1.43	148
2027-01-15	10k	14k	1.31	135
2027-03-19	4k	604	0.15	0
2027-06-17	1k	756	0.61	62
2028-01-21	1k	2k	1.37	0

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