MTZ Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $300.82.

Put/Call (OI)

0.36

11k P / 30k C

Put/Call (Volume)

0.56

475 P / 841 C today

30d ATM IV

51%

annualized implied move

Call wall

$320

3k contracts

Put wall

$260

2k contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.36 puts per call outstanding.
●Call wall at $320 (3k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $260 (2k contracts), 14% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.2× deep-OTM put OI — speculative upside positioning dominates the tails.

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	19k	2k	0.12	745
2026-09-18	1k	2k	1.61	138
2026-10-16	4k	1k	0.38	184
2026-11-20	3k	1k	0.43	167
2026-12-18	236	244	1.03	36
2027-01-15	3k	4k	1.21	46

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