DOV Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $206.47.

Put/Call (OI)

0.34

3k P / 10k C

Put/Call (Volume)

1.58

49 P / 31 C today

30d ATM IV

24%

annualized implied move

Call wall

$250

3k contracts

Put wall

$190

401 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 $250 (3k contracts), 21% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $190 (401 contracts), 8% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 7.9× 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	1k	2k	1.37	29
2026-09-18	3k	750	0.22	21
2026-11-20	810	110	0.14	12
2026-12-18	184	86	0.47	18
2027-01-15	1k	330	0.23	0
2027-03-19	2k	62	0.04	0
2028-01-21	936	194	0.21	0

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