GEV Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $1,080.

Put/Call (OI)

1.42

126k P / 88k C

Put/Call (Volume)

1.20

14k P / 12k C today

30d ATM IV

49%

annualized implied move

Call wall

$1,100

4k contracts

Put wall

$800

9k contracts

Tail hedging

3.1×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.42 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $1,100 (4k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $800 (9k contracts), 26% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.1× 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	14k	17k	1.18	6k
2026-08-28	2k	8k	4.16	1k
2026-09-04	1k	4k	3.58	1k
2026-09-11	808	2k	2.51	802
2026-09-18	15k	20k	1.35	2k
2026-09-25	172	2k	11.62	263
2026-10-02	5	81	16.20	2k
2026-10-16	6k	11k	1.70	3k
2026-12-18	6k	8k	1.31	8k
2027-01-15	23k	31k	1.35	650
2027-03-19	5k	4k	0.82	458
2027-06-17	4k	7k	1.86	82
2027-09-17	2k	2k	0.81	271
2027-12-17	79	24	0.30	12
2028-01-21	5k	6k	1.14	159
2028-12-15	3k	4k	1.20	171

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