GL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-07. Spot $186.02.

Put/Call (OI)

0.36

2k P / 5k C

Put/Call (Volume)

1.00

8 P / 8 C today

30d ATM IV

24%

annualized implied move

Call wall

$220

500 contracts

Put wall

$175

496 contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.36 puts per call outstanding.
●Call wall at $220 (500 contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $175 (496 contracts), 6% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 24% — 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	1k	1k	0.98	1
2026-09-18	581	30	0.05	8
2026-11-20	191	161	0.84	5
2027-01-15	3k	179	0.06	1
2027-02-19	19	26	1.37	1

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