DLTR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $129.59.

Put/Call (OI)

0.57

33k P / 57k C

Put/Call (Volume)

1.00

977 P / 978 C today

30d ATM IV

47%

annualized implied move

Call wall

$145

9k contracts

Put wall

$95

3k contracts

Tail hedging

1.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.57 puts per call outstanding.
●Call wall at $145 (9k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $95 (3k contracts), 27% 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	9k	8k	0.95	578
2026-08-28	3k	723	0.21	305
2026-09-04	639	201	0.31	225
2026-09-11	214	48	0.22	25
2026-09-18	15k	6k	0.42	388
2026-09-25	3	246	82.00	45
2026-10-02	0	11	—	14
2026-11-20	1k	1k	0.99	46
2026-12-18	3k	2k	0.55	258
2027-01-15	21k	11k	0.51	57
2027-02-19	52	30	0.58	0
2027-03-19	523	1k	1.95	0
2027-06-17	1k	242	0.21	8
2028-01-21	2k	2k	0.86	6

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