CCI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $74.51.

Put/Call (OI)

0.45

15k P / 34k C

Put/Call (Volume)

1.95

621 P / 319 C today

30d ATM IV

29%

annualized implied move

Call wall

$80

5k contracts

Put wall

$70

2k contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.45 puts per call outstanding.
●Call wall at $80 (5k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $70 (2k contracts), 6% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 8.4× 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.

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	11k	3k	0.24	178
2026-09-18	5k	4k	0.78	467
2026-10-16	2k	2k	0.99	96
2026-12-18	3k	2k	0.61	96
2027-01-15	5k	3k	0.67	48
2027-03-19	3k	691	0.20	11
2027-06-17	522	207	0.40	21
2028-01-21	4k	1k	0.23	23

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