CTVA Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $76.01.

Put/Call (OI)

0.34

5k P / 14k C

Put/Call (Volume)

0.33

97 P / 291 C today

30d ATM IV

24%

annualized implied move

Call wall

$90

7k contracts

Put wall

$75

1k contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.34 puts per call outstanding.
●Call wall at $90 (7k contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $75 (1k contracts), 1% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 9.7× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 24% — 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	2k	290	0.17	161
2026-09-18	9k	2k	0.19	93
2026-10-16	1k	1k	1.10	35
2026-11-20	5	5	1.00	42
2026-12-18	1k	1k	0.94	47
2027-03-19	303	46	0.15	10

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