FIX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $1,883.

Put/Call (OI)

1.27

11k P / 8k C

Put/Call (Volume)

1.79

2k P / 1k C today

30d ATM IV

55%

annualized implied move

Call wall

$2,000

407 contracts

Put wall

$1,520

623 contracts

Tail hedging

3.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.27 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $2,000 (407 contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $1,520 (623 contracts), 19% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.4× 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	3k	1.41	1k
2026-09-18	812	1k	1.28	1k
2026-10-16	1k	2k	1.30	50
2026-12-18	3k	4k	1.41	142
2027-01-15	1k	766	0.66	128
2027-12-17	130	178	1.37	50

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