GFL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $41.54.

Put/Call (OI)

0.89

27k P / 30k C

Put/Call (Volume)

0.07

36 P / 546 C today

30d ATM IV

42%

annualized implied move

Call wall

$50

14k contracts

Put wall

$35

16k contracts

Tail hedging

1.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $50 (14k contracts), 20% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $35 (16k contracts), 16% below spot — the hedge floor; often acts as support.

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	23k	25k	1.06	32
2026-09-18	491	77	0.16	547
2026-10-16	2k	1k	0.71	2
2026-12-18	959	228	0.24	0
2027-01-15	108	104	0.96	0
2027-03-19	73	10	0.14	0
2027-04-16	3k	262	0.08	0
2027-12-17	14	26	1.86	1

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