EIX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $71.3.

Put/Call (OI)

1.15

58k P / 50k C

Put/Call (Volume)

3.43

12k P / 4k C today

30d ATM IV

34%

annualized implied move

Call wall

$82.5

12k contracts

Put wall

$65

17k contracts

Tail hedging

0.8×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.15 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $82.5 (12k contracts), 16% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $65 (17k contracts), 9% below spot — the hedge floor; often acts as support.

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	14k	10k	0.72	992
2026-09-18	14k	20k	1.48	15k
2026-10-16	6k	9k	1.46	225
2027-01-15	15k	17k	1.15	261
2028-01-21	2k	2k	1.01	16

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