COO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $75.1.

Put/Call (OI)

0.16

2k P / 13k C

Put/Call (Volume)

0.29

37 P / 127 C today

30d ATM IV

46%

annualized implied move

Call wall

$80

5k contracts

Put wall

$65

563 contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.16 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 $65 (563 contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.4× 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	2k	977	0.61	113
2026-09-18	2k	108	0.06	21
2026-11-20	4k	380	0.10	25
2026-12-18	1k	647	0.46	1
2027-02-19	4k	15	0.00	4

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