FITB Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $57.57.

Put/Call (OI)

0.52

22k P / 41k C

Put/Call (Volume)

0.16

150 P / 912 C today

30d ATM IV

19%

annualized implied move

Call wall

$60

10k contracts

Put wall

$55

5k contracts

Tail hedging

2.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.52 puts per call outstanding.
●Call wall at $60 (10k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $55 (5k contracts), 4% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.2× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 19% — calm pricing; option premium is cheap.

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	17k	5k	0.31	425
2026-09-18	8k	5k	0.58	79
2026-11-20	2k	1k	0.54	185
2026-12-18	2k	861	0.49	213
2027-01-15	8k	7k	0.89	99
2027-02-19	877	20	0.02	8
2027-03-19	1k	2k	1.38	5
2027-06-17	683	314	0.46	45
2028-01-21	2k	562	0.31	3

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