HBAN Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $17.94.

Put/Call (OI)

0.74

34k P / 45k C

Put/Call (Volume)

0.73

13k P / 18k C today

30d ATM IV

23%

annualized implied move

Call wall

$20

15k contracts

Put wall

$17

5k contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Call wall at $20 (15k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $17 (5k contracts), 5% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 23% — 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	13k	3k	0.27	158
2026-09-18	2k	8k	3.82	275
2026-10-16	5k	10k	2.06	30k
2026-11-20	3k	1k	0.42	23
2026-12-18	5k	3k	0.65	49
2027-01-15	16k	8k	0.50	237
2028-01-21	2k	522	0.23	1k

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