OMC Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $86.35.

Put/Call (OI)

1.12

13k P / 11k C

Put/Call (Volume)

0.03

36 P / 1k C today

30d ATM IV

28%

annualized implied move

Call wall

$90

2k contracts

Put wall

$75

2k contracts

Tail hedging

7.2×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.12 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $90 (2k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $75 (2k contracts), 13% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 7.2× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	4k	3k	0.64	600
2026-09-18	1k	3k	3.19	18
2026-10-16	2k	1k	0.65	588
2026-11-20	492	134	0.27	9
2026-12-18	2k	5k	2.60	0
2027-01-15	964	115	0.12	1
2027-03-19	397	54	0.14	0
2027-06-17	103	177	1.72	9
2027-09-17	30	36	1.20	0
2028-01-21	371	145	0.39	0

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