LH Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $328.91.

Put/Call (OI)

0.81

2k P / 3k C

Put/Call (Volume)

1.49

131 P / 88 C today

30d ATM IV

23%

annualized implied move

Call wall

$330

304 contracts

Put wall

$280

842 contracts

Tail hedging

113.5×

deep-OTM puts vs calls

What the positioning says

●Call wall at $330 (304 contracts), 0% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $280 (842 contracts), 15% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 113.5× 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.

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	1k	878	0.76	164
2026-09-18	104	65	0.63	48
2026-11-20	255	875	3.43	3
2027-01-15	497	240	0.48	1
2027-02-19	588	52	0.09	3

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