OHI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-13. Spot $46.08.

Put/Call (OI)

0.52

6k P / 11k C

Put/Call (Volume)

0.05

63 P / 1k C today

30d ATM IV

23%

annualized implied move

Call wall

$50

5k contracts

Put wall

$45

1k contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.52 puts per call outstanding.
●Call wall at $50 (5k contracts), 9% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $45 (1k contracts), 2% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 23% — 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	2k	2k	1.06	245
2026-09-18	3k	1k	0.31	486
2026-12-18	1k	316	0.23	60
2027-01-15	3k	2k	0.64	45
2027-03-19	167	306	1.83	1
2028-01-21	1k	217	0.15	446

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