PKG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $252.97.

Put/Call (OI)

0.28

504 P / 2k C

Put/Call (Volume)

0.04

1 P / 24 C today

30d ATM IV

28%

annualized implied move

Call wall

$310

196 contracts

Put wall

$230

242 contracts

Tail hedging

0.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.28 puts per call outstanding.
●Call wall at $310 (196 contracts), 23% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $230 (242 contracts), 9% below spot — the hedge floor; often acts as support.

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	391	117	0.30	22
2026-09-18	362	220	0.61	3
2026-10-16	464	97	0.21	0
2027-01-15	572	70	0.12	0

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