GS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $1,050.82.

Put/Call (OI)

0.85

215k P / 252k C

Put/Call (Volume)

0.58

21k P / 36k C today

30d ATM IV

30%

annualized implied move

Call wall

$1,100

12k contracts

Put wall

$800

7k contracts

Tail hedging

1.3×

deep-OTM puts vs calls

What the positioning says

●Call wall at $1,100 (12k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $800 (7k contracts), 24% 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	30k	35k	1.15	38k
2026-08-28	4k	8k	2.08	4k
2026-09-04	3k	4k	1.38	1k
2026-09-11	2k	2k	1.17	3k
2026-09-18	27k	28k	1.04	2k
2026-09-25	846	1k	1.50	903
2026-10-02	42	108	2.57	1k
2026-10-16	10k	11k	1.12	619
2026-11-20	9k	10k	1.17	843
2026-12-18	24k	24k	1.00	570
2027-01-15	34k	39k	1.14	1k
2027-03-19	10k	9k	0.89	707
2027-06-17	27k	17k	0.63	914
2028-01-21	16k	10k	0.63	112
2028-03-17	7k	3k	0.45	121
2028-06-16	12k	4k	0.35	73
2028-09-15	13k	3k	0.23	15
2028-12-15	23k	5k	0.22	160

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