DIS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-19. Spot $103.95.

Put/Call (OI)

0.68

289k P / 429k C

Put/Call (Volume)

0.64

10k P / 15k C today

30d ATM IV

23%

annualized implied move

Call wall

$120

54k contracts

Put wall

$100

51k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.68 puts per call outstanding.
●Call wall at $120 (54k contracts), 15% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $100 (51k contracts), 4% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 23% — 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	64k	48k	0.75	10k
2026-08-28	6k	3k	0.50	3k
2026-09-04	3k	2k	0.68	778
2026-09-11	2k	1k	0.63	257
2026-09-18	60k	52k	0.87	4k
2026-09-25	3k	441	0.15	325
2026-10-02	259	57	0.22	68
2026-10-16	20k	28k	1.41	2k
2026-11-20	34k	26k	0.76	977
2026-12-18	33k	30k	0.91	754
2027-01-15	81k	47k	0.58	2k
2027-03-19	13k	12k	0.91	303
2027-06-17	21k	18k	0.84	274
2027-12-17	16k	7k	0.44	36
2028-01-21	73k	16k	0.21	195

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