F Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $14.05.

Put/Call (OI)

0.88

883k P / 1.0M C

Put/Call (Volume)

0.46

20k P / 43k C today

30d ATM IV

31%

annualized implied move

Call wall

$15

134k contracts

Put wall

$12

157k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $15 (134k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $12 (157k 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	143k	57k	0.40	25k
2026-08-28	22k	11k	0.50	6k
2026-09-04	6k	6k	0.93	2k
2026-09-11	4k	3k	0.67	2k
2026-09-18	207k	167k	0.81	15k
2026-09-25	2k	1k	0.62	933
2026-10-02	210	62	0.30	329
2026-10-16	16k	19k	1.16	4k
2026-11-20	7k	5k	0.70	1k
2026-12-18	138k	184k	1.33	2k
2027-01-15	246k	228k	0.93	2k
2027-03-19	25k	20k	0.78	367
2027-06-17	54k	60k	1.10	174
2027-12-17	43k	36k	0.82	900
2028-01-21	65k	59k	0.91	626
2028-12-15	22k	29k	1.27	23

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