NTR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $68.29.

Put/Call (OI)

0.92

46k P / 51k C

Put/Call (Volume)

0.57

831 P / 1k C today

30d ATM IV

26%

annualized implied move

Call wall

$75

5k contracts

Put wall

$57.5

10k contracts

Tail hedging

1.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $75 (5k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $57.5 (10k contracts), 16% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	10k	16k	1.60	597
2026-08-28	547	864	1.58	580
2026-09-04	129	778	6.03	324
2026-09-11	62	85	1.37	20
2026-09-18	13k	4k	0.30	176
2026-09-25	12	6	0.50	22
2026-10-02	5	0	0.00	2
2026-10-16	260	465	1.79	11
2026-11-20	589	126	0.21	27
2026-12-18	5k	949	0.20	176
2027-01-15	17k	20k	1.16	59
2027-03-19	145	56	0.39	37
2027-06-17	260	117	0.45	9
2028-01-21	4k	3k	0.93	257

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