HONA Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-19. Spot $160.76.

Put/Call (OI)

0.66

15k P / 23k C

Put/Call (Volume)

1.54

1k P / 656 C today

30d ATM IV

44%

annualized implied move

Call wall

$230

4k contracts

Put wall

$150

2k contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.66 puts per call outstanding.
●Call wall at $230 (4k contracts), 43% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $150 (2k contracts), 7% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.7× deep-OTM put OI — speculative upside positioning dominates the tails.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	9k	4k	0.39	763
2026-09-18	6k	4k	0.65	517
2026-12-18	6k	5k	0.82	276
2027-03-19	2k	3k	1.36	59
2027-06-17	71	409	5.76	4
2027-12-17	501	268	0.53	45

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