DOCN Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $135.28.

Put/Call (OI)

0.70

60k P / 86k C

Put/Call (Volume)

0.27

2k P / 6k C today

30d ATM IV

78%

annualized implied move

Call wall

$180

8k contracts

Put wall

$67.5

10k contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.70 puts per call outstanding.
●Call wall at $180 (8k contracts), 33% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $67.5 (10k contracts), 50% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 78% — the market prices very large moves; option premium is expensive.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	26k	10k	0.38	5k
2026-08-28	3k	5k	1.55	493
2026-09-04	873	764	0.88	59
2026-09-11	72	2k	32.99	55
2026-09-18	3k	3k	1.08	2k
2026-09-25	58	104	1.79	32
2026-10-02	32	0	0.00	11
2026-10-16	15k	8k	0.53	226
2026-11-20	5k	985	0.20	93
2026-12-18	2k	312	0.15	33
2027-01-15	17k	10k	0.57	37
2027-02-19	38	87	2.29	5
2027-03-19	535	432	0.81	4
2027-05-21	41	16	0.39	1
2027-06-17	249	94	0.38	13
2027-08-20	209	18	0.09	7
2027-11-19	29	0	0.00	0
2027-12-17	6k	931	0.15	3
2028-01-21	8k	19k	2.58	11
2028-12-15	948	240	0.25	3

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