CPRT Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $31.78.

Put/Call (OI)

0.51

41k P / 80k C

Put/Call (Volume)

0.16

1k P / 8k C today

30d ATM IV

40%

annualized implied move

Call wall

$35

16k contracts

Put wall

$27.5

18k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.51 puts per call outstanding.
●Call wall at $35 (16k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $27.5 (18k contracts), 13% 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	15k	9k	0.62	3k
2026-09-18	13k	8k	0.65	1k
2026-11-20	3k	2k	0.83	272
2026-12-18	4k	11k	2.81	446
2027-01-15	15k	6k	0.39	674
2027-02-19	307	807	2.63	26
2027-03-19	11k	808	0.07	164
2027-06-17	1k	620	0.45	81
2028-01-21	18k	2k	0.12	3k

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