MEDP Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $577.27.

Put/Call (OI)

1.93

3k P / 2k C

Put/Call (Volume)

1.00

7 P / 7 C today

30d ATM IV

32%

annualized implied move

Call wall

$650

264 contracts

Put wall

$570

959 contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.93 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $650 (264 contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $570 (959 contracts), 1% 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	1k	744	0.70	7
2026-09-18	235	392	1.67	3
2026-12-18	257	2k	8.13	0
2027-01-15	89	41	0.46	2
2027-03-19	26	14	0.54	2
2027-12-17	37	17	0.46	0

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