PNFP Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $107.35.

Put/Call (OI)

0.51

1k P / 2k C

Put/Call (Volume)

0.00

0 P / 12 C today

30d ATM IV

25%

annualized implied move

Call wall

$115

531 contracts

Put wall

$90

482 contracts

Tail hedging

4.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.51 puts per call outstanding.
●Call wall at $115 (531 contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $90 (482 contracts), 16% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.2× 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	790	809	1.02	2
2026-09-18	516	55	0.11	8
2026-11-20	396	58	0.15	0
2026-12-18	603	231	0.38	0
2027-02-19	125	83	0.66	2

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