ONTO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $291.35.

Put/Call (OI)

0.48

7k P / 14k C

Put/Call (Volume)

0.72

414 P / 576 C today

30d ATM IV

78%

annualized implied move

Call wall

$450

1k contracts

Put wall

$200

736 contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.48 puts per call outstanding.
●Call wall at $450 (1k contracts), 54% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $200 (736 contracts), 31% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.0× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 78% — the market prices very large moves; option premium is expensive.

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	5k	2k	0.42	612
2026-09-18	5k	2k	0.45	150
2026-12-18	4k	2k	0.54	129
2027-03-19	146	224	1.53	9
2027-12-17	67	73	1.09	90

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