MCO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $477.79.

Put/Call (OI)

0.85

8k P / 10k C

Put/Call (Volume)

1.95

263 P / 135 C today

30d ATM IV

26%

annualized implied move

Call wall

$540

3k contracts

Put wall

$460

1k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $540 (3k contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $460 (1k contracts), 4% 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	5k	4k	0.72	90
2026-09-18	3k	3k	1.18	269
2026-11-20	998	613	0.61	18
2027-01-15	708	658	0.93	16
2027-02-19	348	276	0.79	5

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