IQV Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $240.29.

Put/Call (OI)

0.85

9k P / 10k C

Put/Call (Volume)

2.81

329 P / 117 C today

30d ATM IV

32%

annualized implied move

Call wall

$250

1k contracts

Put wall

$160

1k contracts

Tail hedging

4.3×

deep-OTM puts vs calls

What the positioning says

●Call wall at $250 (1k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $160 (1k contracts), 33% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	6k	6k	1.00	159
2026-09-18	2k	740	0.40	265
2026-11-20	798	844	1.06	4
2027-01-15	1k	860	0.77	14
2027-02-19	192	278	1.45	4
2027-05-21	0	0	—	0
2027-08-20	0	0	—	0
2027-11-19	0	0	—	0
2028-01-21	425	137	0.32	0

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