CI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $275.33.

Put/Call (OI)

0.52

31k P / 59k C

Put/Call (Volume)

1.25

1k P / 851 C today

30d ATM IV

26%

annualized implied move

Call wall

$280

7k contracts

Put wall

$260

6k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.52 puts per call outstanding.
●Call wall at $280 (7k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $260 (6k contracts), 6% 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	3k	0.62	391
2026-08-28	1k	308	0.28	189
2026-09-04	564	3k	5.48	42
2026-09-11	96	80	0.83	56
2026-09-18	9k	6k	0.64	552
2026-09-25	22	56	2.55	10
2026-10-02	12	9	0.75	8
2026-10-16	1k	6k	4.56	64
2026-12-18	2k	2k	1.24	262
2027-01-15	30k	7k	0.23	89
2027-03-19	536	898	1.68	36
2027-06-17	948	498	0.53	89
2028-01-21	8k	2k	0.23	125

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