GH Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $161.75.

Put/Call (OI)

1.10

12k P / 11k C

Put/Call (Volume)

0.19

93 P / 490 C today

30d ATM IV

46%

annualized implied move

Call wall

$195

1k contracts

Put wall

$130

3k contracts

Tail hedging

2.7×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.10 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $195 (1k contracts), 21% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $130 (3k contracts), 20% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.7× 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	4k	6k	1.48	203
2026-09-18	545	567	1.04	205
2026-10-16	2k	2k	1.09	154
2027-01-15	3k	4k	1.17	6
2027-03-19	30	23	0.77	1
2027-12-17	0	0	—	0
2028-01-21	2k	128	0.09	14

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