CFG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $74.31.

Put/Call (OI)

0.45

12k P / 26k C

Put/Call (Volume)

0.61

502 P / 829 C today

30d ATM IV

22%

annualized implied move

Call wall

$75

6k contracts

Put wall

$65

2k contracts

Tail hedging

4.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.45 puts per call outstanding.
●Call wall at $75 (6k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $65 (2k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.2× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 22% — 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	7k	2k	0.28	84
2026-09-18	3k	360	0.11	120
2026-10-16	2k	3k	1.44	585
2026-11-20	895	700	0.78	14
2027-01-15	11k	4k	0.36	189
2028-01-21	826	338	0.41	291
2028-12-15	733	998	1.36	48

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