DRD Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-28. Spot $30.03.

Put/Call (OI)

0.13

209 P / 2k C

Put/Call (Volume)

0.05

1 P / 21 C today

30d ATM IV

71%

annualized implied move

Call wall

$37.5

213 contracts

Put wall

$20

48 contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.13 puts per call outstanding.
●Call wall at $37.5 (213 contracts), 25% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $20 (48 contracts), 33% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 5.2× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 71% — 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
2026-09-18	79	48	0.61	15
2026-10-16	2	2	1.00	0
2026-11-20	630	93	0.15	4
2027-02-19	845	66	0.08	3

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