H Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $181.6.

Put/Call (OI)

0.85

1k P / 1k C

Put/Call (Volume)

2.54

94 P / 37 C today

30d ATM IV

30%

annualized implied move

Call wall

$210

226 contracts

Put wall

$160

310 contracts

Tail hedging

1.3×

deep-OTM puts vs calls

What the positioning says

●Call wall at $210 (226 contracts), 16% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $160 (310 contracts), 12% 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	841	760	0.90	100
2026-09-18	94	41	0.44	7
2026-11-20	284	161	0.57	5
2026-12-18	72	260	3.61	9
2027-01-15	110	4	0.04	5
2027-02-19	28	11	0.39	3
2027-12-17	26	3	0.12	2

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