DUK Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $123.58.

Put/Call (OI)

0.52

32k P / 61k C

Put/Call (Volume)

0.46

481 P / 1k C today

30d ATM IV

17%

annualized implied move

Call wall

$130

15k contracts

Put wall

$115

6k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.52 puts per call outstanding.
●Call wall at $130 (15k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $115 (6k contracts), 7% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 17% — 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	15k	7k	0.43	236
2026-09-18	13k	7k	0.53	350
2026-10-16	5k	3k	0.58	325
2026-12-18	5k	3k	0.66	195
2027-01-15	13k	8k	0.56	181
2027-03-19	1k	558	0.40	71
2027-06-17	3k	869	0.25	106
2028-01-21	4k	3k	0.73	71

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