PFGC Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $104.68.

Put/Call (OI)

1.60

4k P / 3k C

Put/Call (Volume)

0.69

223 P / 321 C today

30d ATM IV

24%

annualized implied move

Call wall

$105

892 contracts

Put wall

$90

681 contracts

Tail hedging

4.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.60 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $105 (892 contracts), 0% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $90 (681 contracts), 14% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 24% — 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	107	2k	16.82	108
2026-09-18	2k	2k	1.27	121
2026-12-18	877	301	0.34	315
2027-03-19	3	1	0.33	0

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