ING Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $35.81.

Put/Call (OI)

0.77

5k P / 7k C

Put/Call (Volume)

4.47

755 P / 169 C today

30d ATM IV

23%

annualized implied move

Call wall

$37

747 contracts

Put wall

$31

1k contracts

Tail hedging

4.4×

deep-OTM puts vs calls

What the positioning says

●Call wall at $37 (747 contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $31 (1k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.4× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	318	1k	3.28	3
2026-09-18	610	291	0.48	132
2026-10-16	4k	3k	0.80	717
2027-01-15	1k	922	0.62	59
2027-05-21	770	64	0.08	13

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