GEHC Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $72.35.

Put/Call (OI)

0.58

28k P / 49k C

Put/Call (Volume)

1.11

862 P / 779 C today

30d ATM IV

22%

annualized implied move

Call wall

$75

5k contracts

Put wall

$60

6k contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.58 puts per call outstanding.
●Call wall at $75 (5k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $60 (6k contracts), 17% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 22% — 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	9k	4k	0.39	623
2026-08-28	551	378	0.69	135
2026-09-04	300	85	0.28	21
2026-09-11	150	139	0.93	5
2026-09-18	12k	8k	0.65	396
2026-09-25	7	73	10.43	5
2026-10-02	18	10	0.56	7
2026-10-16	4k	4k	0.95	55
2026-12-18	5k	3k	0.64	17
2027-01-15	11k	5k	0.47	67
2027-03-19	2k	2k	1.02	60
2027-06-17	1k	751	0.61	91
2028-01-21	4k	1k	0.40	159

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