DXCM Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $88.76.

Put/Call (OI)

1.26

60k P / 47k C

Put/Call (Volume)

0.45

2k P / 3k C today

30d ATM IV

27%

annualized implied move

Call wall

$95

5k contracts

Put wall

$60

15k contracts

Tail hedging

3.5×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.26 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $95 (5k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $60 (15k contracts), 32% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.5× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	11k	19k	1.73	2k
2026-08-28	761	960	1.26	253
2026-09-04	182	335	1.84	71
2026-09-11	161	100	0.62	87
2026-09-18	7k	10k	1.49	2k
2026-09-25	17	27	1.59	14
2026-10-02	12	15	1.25	6
2026-12-18	7k	4k	0.58	83
2027-01-15	17k	16k	0.93	214
2027-03-19	1k	2k	1.60	38
2027-06-17	514	2k	3.76	49
2028-01-21	3k	6k	1.90	364

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