FERG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $244.98.

Put/Call (OI)

0.66

4k P / 6k C

Put/Call (Volume)

0.50

87 P / 175 C today

30d ATM IV

31%

annualized implied move

Call wall

$280

1k contracts

Put wall

$195

1k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.66 puts per call outstanding.
●Call wall at $280 (1k contracts), 14% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $195 (1k contracts), 20% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	3k	3k	0.81	83
2026-09-18	666	210	0.32	131
2026-11-20	1k	554	0.42	23
2026-12-18	588	634	1.08	11
2027-02-19	458	141	0.31	14

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