LII Options Chain Analysis

As of previous close (2026-08-20) · OPRA historical data

Spot $406.05 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.97

869 P / 899 C

Put/Call (Volume)

0.36

33 P / 92 C that session

30d ATM IV

35%

annualized implied move

Call wall

$430

81 contracts

Put wall

$400

101 contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Call wall at $430 (81 contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $400 (101 contracts), 1% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 5.6× deep-OTM put OI — speculative upside positioning dominates the tails.

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 that session
2026-10-16	0	0	—	5
2026-12-18	282	365	1.29	48
2027-03-19	98	50	0.51	1

Source: Cboe end-of-session option chains, summarized after each US market close and published from the following trading day — OPRA historical data. Under the OPRA plan options data becomes historical, and freely publishable, at the opening of the next trading session; data from the session in progress is never displayed or served here. Open interest is exchange-reported once a day. Research, not investment advice.