MPWR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $1,416.3.

Put/Call (OI)

1.13

10k P / 9k C

Put/Call (Volume)

0.92

387 P / 419 C today

30d ATM IV

56%

annualized implied move

Call wall

$1,600

497 contracts

Put wall

$1,000

517 contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.13 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $1,600 (497 contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $1,000 (517 contracts), 29% 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	2k	3k	1.10	352
2026-09-18	2k	2k	1.06	211
2026-11-20	1k	1k	1.01	178
2026-12-18	305	355	1.16	22
2027-01-15	1k	2k	1.49	4
2027-02-19	331	274	0.83	5
2027-03-19	83	85	1.02	1
2027-05-21	557	748	1.34	20
2027-12-17	300	271	0.90	13

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