PFG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $112.97.

Put/Call (OI)

0.46

1k P / 2k C

Put/Call (Volume)

0.09

61 P / 658 C today

30d ATM IV

19%

annualized implied move

Call wall

$115

761 contracts

Put wall

$95

569 contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.46 puts per call outstanding.
●Call wall at $115 (761 contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $95 (569 contracts), 16% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 19% — 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	1k	725	0.51	375
2026-09-18	13	97	7.46	336
2026-10-16	380	118	0.31	0
2027-01-15	400	67	0.17	8

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