CRBG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $33.18.

Put/Call (OI)

0.71

13k P / 18k C

Put/Call (Volume)

0.04

4 P / 108 C today

30d ATM IV

22%

annualized implied move

Call wall

$35

711 contracts

Put wall

$29

10k contracts

Tail hedging

25.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $35 (711 contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $29 (10k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 25.6× 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	293	289	0.99	50
2026-09-18	601	10k	16.73	40
2026-10-16	15k	536	0.04	18
2027-01-15	2k	2k	0.98	4

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