EXE Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $94.33.

Put/Call (OI)

1.29

130k P / 101k C

Put/Call (Volume)

17.69

20k P / 1k C today

30d ATM IV

29%

annualized implied move

Call wall

$100

20k contracts

Put wall

$80

84k contracts

Tail hedging

1.6×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.29 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $100 (20k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $80 (84k contracts), 15% 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	15k	40k	2.67	440
2026-09-18	36k	69k	1.94	637
2026-10-16	11k	7k	0.67	20k
2027-01-15	30k	12k	0.41	117
2027-03-19	24	2	0.08	12
2027-06-17	20	38	1.90	14
2027-09-17	1	0	0.00	5
2027-12-17	0	64	—	32
2028-01-21	9k	2k	0.18	93

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