EQIX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $1,101.9.

Put/Call (OI)

2.77

20k P / 7k C

Put/Call (Volume)

2.78

903 P / 325 C today

30d ATM IV

26%

annualized implied move

Call wall

$1,150

385 contracts

Put wall

$1,000

8k contracts

Tail hedging

7.7×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.77 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $1,150 (385 contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $1,000 (8k contracts), 9% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 7.7× 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	2k	6k	3.00	158
2026-09-18	3k	5k	1.85	204
2026-10-16	114	265	2.32	30
2026-11-20	272	5k	19.55	659
2026-12-18	862	2k	2.30	75
2027-03-19	462	193	0.42	43
2027-06-17	428	329	0.77	59

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