GPC Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $132.52.

Put/Call (OI)

0.35

7k P / 21k C

Put/Call (Volume)

0.23

29 P / 128 C today

30d ATM IV

29%

annualized implied move

Call wall

$135

5k contracts

Put wall

$105

2k contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.35 puts per call outstanding.
●Call wall at $135 (5k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $105 (2k contracts), 21% 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.

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	15k	6k	0.37	101
2026-09-18	677	411	0.61	1
2026-11-20	2k	434	0.29	30
2026-12-18	589	158	0.27	10
2027-01-15	2k	545	0.27	9
2027-02-19	567	25	0.04	2
2027-03-19	705	18	0.03	0
2027-06-17	262	243	0.93	4

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