CSL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $360.7.

Put/Call (OI)

0.99

877 P / 883 C

Put/Call (Volume)

0.73

8 P / 11 C today

30d ATM IV

37%

annualized implied move

Call wall

$380

213 contracts

Put wall

$360

152 contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $380 (213 contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $360 (152 contracts), 0% 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	134	102	0.76	3
2026-09-18	447	490	1.10	9
2026-12-18	294	265	0.90	6
2027-03-19	8	20	2.50	1

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