JBL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $369.89.

Put/Call (OI)

0.71

18k P / 25k C

Put/Call (Volume)

0.38

359 P / 948 C today

30d ATM IV

49%

annualized implied move

Call wall

$400

3k contracts

Put wall

$300

2k contracts

Tail hedging

4.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $400 (3k contracts), 8% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $300 (2k contracts), 19% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.1× 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	3k	4k	1.30	815
2026-08-28	967	750	0.78	39
2026-09-04	986	180	0.18	75
2026-09-11	103	64	0.62	15
2026-09-18	4k	3k	0.77	216
2026-09-25	265	120	0.45	54
2026-10-02	13	4	0.31	14
2026-12-18	1k	964	0.67	39
2027-01-15	5k	3k	0.52	29
2027-03-19	395	241	0.61	4
2027-06-17	55	33	0.60	3
2028-01-21	8k	5k	0.65	4

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