HD Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $339.2.

Put/Call (OI)

0.85

109k P / 129k C

Put/Call (Volume)

1.09

26k P / 24k C today

30d ATM IV

30%

annualized implied move

Call wall

$400

13k contracts

Put wall

$320

9k contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Call wall at $400 (13k contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $320 (9k contracts), 6% 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	28k	22k	0.77	35k
2026-08-28	4k	3k	0.59	3k
2026-09-04	2k	2k	1.05	1k
2026-09-11	941	725	0.77	388
2026-09-18	22k	27k	1.20	6k
2026-09-25	196	274	1.40	272
2026-10-02	55	25	0.45	70
2026-10-16	10k	4k	0.39	899
2026-11-20	4k	6k	1.64	242
2026-12-18	10k	10k	1.01	242
2027-01-15	22k	18k	0.81	664
2027-02-19	680	1k	2.02	109
2027-03-19	2k	2k	1.04	182
2027-06-17	11k	7k	0.61	225
2027-12-17	2k	2k	1.01	199
2028-01-21	7k	4k	0.50	49
2028-12-15	2k	1k	0.72	41

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