KOF Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $108.69.

Put/Call (OI)

0.43

320 P / 746 C

Put/Call (Volume)

0.00

0 P / 1 C today

30d ATM IV

17%

annualized implied move

Call wall

$110

199 contracts

Put wall

$105

215 contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.43 puts per call outstanding.
●Call wall at $110 (199 contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $105 (215 contracts), 3% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 10.2× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 17% — 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	504	239	0.47	0
2026-09-18	2	2	1.00	0
2026-11-20	190	14	0.07	0
2027-02-19	50	65	1.30	1

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