MSI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $457.08.

Put/Call (OI)

0.42

4k P / 9k C

Put/Call (Volume)

0.56

227 P / 409 C today

30d ATM IV

21%

annualized implied move

Call wall

$480

2k contracts

Put wall

$380

832 contracts

Tail hedging

3.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.42 puts per call outstanding.
●Call wall at $480 (2k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $380 (832 contracts), 17% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.4× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 21% — calm pricing; option premium is cheap.

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	3k	1k	0.53	131
2026-09-18	806	370	0.46	309
2026-10-16	2k	1k	0.66	176
2027-01-15	3k	638	0.18	20

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