FTS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $56.44.

Put/Call (OI)

0.73

461 P / 634 C

Put/Call (Volume)

31.00

62 P / 2 C today

30d ATM IV

18%

annualized implied move

Call wall

$70

333 contracts

Put wall

$55

172 contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Call wall at $70 (333 contracts), 24% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $55 (172 contracts), 3% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.3× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 18% — 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	163	221	1.36	4
2026-09-18	403	160	0.40	0
2026-10-16	15	4	0.27	60
2026-11-20	31	73	2.35	0
2027-02-19	22	3	0.14	0

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