MOD Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $218.77.

Put/Call (OI)

0.56

13k P / 23k C

Put/Call (Volume)

0.18

470 P / 3k C today

30d ATM IV

70%

annualized implied move

Call wall

$300

4k contracts

Put wall

$160

3k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.56 puts per call outstanding.
●Call wall at $300 (4k contracts), 37% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $160 (3k contracts), 27% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 70% — 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	16k	6k	0.40	870
2026-09-18	2k	3k	1.44	2k
2026-11-20	1k	1k	0.90	48
2027-01-15	3k	2k	0.72	11
2027-02-19	50	37	0.74	6
2027-03-19	56	7	0.13	0
2027-06-17	73	26	0.36	0
2027-09-17	330	325	0.98	0
2027-12-17	21	22	1.05	1
2028-01-21	671	389	0.58	22

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