CSCO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $112.88.

Put/Call (OI)

0.72

444k P / 618k C

Put/Call (Volume)

0.45

28k P / 61k C today

30d ATM IV

30%

annualized implied move

Call wall

$120

53k contracts

Put wall

$100

44k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $120 (53k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $100 (44k contracts), 11% 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	108k	50k	0.46	38k
2026-08-28	16k	5k	0.31	7k
2026-09-04	7k	3k	0.44	2k
2026-09-11	12k	2k	0.20	1k
2026-09-18	141k	104k	0.74	11k
2026-09-25	2k	2k	0.91	1k
2026-10-02	445	306	0.69	842
2026-10-16	52k	51k	0.97	8k
2026-11-20	7k	6k	0.96	10k
2026-12-18	53k	54k	1.03	2k
2027-01-15	109k	78k	0.72	6k
2027-03-19	40k	34k	0.85	721
2027-06-17	19k	23k	1.22	734
2027-12-17	15k	6k	0.41	49
2028-01-21	38k	26k	0.68	1k
2028-06-16	14	19	1.36	404
2028-12-15	648	169	0.26	356

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