MGA Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $71.29.

Put/Call (OI)

0.42

3k P / 7k C

Put/Call (Volume)

0.20

25 P / 128 C today

30d ATM IV

29%

annualized implied move

Call wall

$75

2k contracts

Put wall

$50

599 contracts

Tail hedging

5.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.42 puts per call outstanding.
●Call wall at $75 (2k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $50 (599 contracts), 30% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 5.1× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	611	508	0.83	26
2026-09-18	1k	827	0.69	66
2026-10-16	18	4	0.22	4
2026-11-20	309	166	0.54	0
2026-12-18	150	99	0.66	16
2027-01-15	4k	1k	0.29	33
2027-03-19	50	40	0.80	6
2028-01-21	612	147	0.24	2

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