MKSI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $323.48.

Put/Call (OI)

0.64

8k P / 13k C

Put/Call (Volume)

0.22

16 P / 72 C today

30d ATM IV

64%

annualized implied move

Call wall

$340

1k contracts

Put wall

$230

925 contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.64 puts per call outstanding.
●Call wall at $340 (1k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $230 (925 contracts), 29% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 64% — the market prices very large moves; option premium is expensive.

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	0.80	41
2026-09-18	2k	3k	1.36	31
2026-10-16	4k	2k	0.47	6
2026-12-18	2k	335	0.20	5
2027-01-15	340	45	0.13	1
2027-02-19	579	38	0.07	0
2027-05-21	173	13	0.08	0
2027-08-20	77	12	0.16	3
2027-11-19	133	8	0.06	1

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