MAS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $73.93.

Put/Call (OI)

1.61

10k P / 6k C

Put/Call (Volume)

0.60

56 P / 94 C today

30d ATM IV

27%

annualized implied move

Call wall

$80

4k contracts

Put wall

$70

3k contracts

Tail hedging

1.2×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.61 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $80 (4k contracts), 8% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $70 (3k contracts), 5% below spot — the hedge floor; often acts as support.

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	693	6k	8.84	18
2026-09-18	2k	2k	0.76	40
2026-10-16	3k	2k	0.82	49
2027-01-15	712	229	0.32	43

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