CMCSA Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $25.59.

Put/Call (OI)

0.44

263k P / 594k C

Put/Call (Volume)

1.19

7k P / 6k C today

30d ATM IV

31%

annualized implied move

Call wall

$30

211k contracts

Put wall

$20

88k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.44 puts per call outstanding.
●Call wall at $30 (211k contracts), 17% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (88k contracts), 22% 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	52k	103k	1.99	3k
2026-08-28	8k	1k	0.19	634
2026-09-04	5k	1k	0.20	327
2026-09-11	6k	493	0.09	1k
2026-09-18	114k	34k	0.30	2k
2026-09-25	615	147	0.24	317
2026-10-02	7	43	6.14	51
2026-10-16	40k	16k	0.40	1k
2026-12-18	43k	16k	0.37	558
2027-01-15	152k	33k	0.22	686
2027-03-19	13k	9k	0.69	2k
2027-06-17	59k	29k	0.49	1k
2027-12-17	6k	3k	0.56	3
2028-01-21	85k	12k	0.14	89
2028-12-15	12k	4k	0.33	269

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