PR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $22.18.

Put/Call (OI)

0.38

20k P / 51k C

Put/Call (Volume)

0.49

298 P / 609 C today

30d ATM IV

35%

annualized implied move

Call wall

$25

11k contracts

Put wall

$10

5k contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.38 puts per call outstanding.
●Call wall at $25 (11k contracts), 13% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $10 (5k contracts), 55% 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	6k	5k	0.95	62
2026-09-18	1k	494	0.35	347
2026-10-16	17k	2k	0.14	290
2027-01-15	22k	11k	0.47	197
2027-03-19	107	0	0.00	2
2027-05-21	151	2	0.01	0
2027-08-20	2	51	25.50	0
2027-11-19	4	1	0.25	0
2028-01-21	4k	717	0.17	9

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