PTC Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $145.98.

Put/Call (OI)

0.40

4k P / 11k C

Put/Call (Volume)

1.37

37 P / 27 C today

30d ATM IV

40%

annualized implied move

Call wall

$160

3k contracts

Put wall

$110

2k contracts

Tail hedging

10.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.40 puts per call outstanding.
●Call wall at $160 (3k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $110 (2k contracts), 25% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 10.0× 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.

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	1k	0.21	21
2026-09-18	53	30	0.57	5
2026-10-16	107	87	0.81	11
2026-11-20	770	2k	2.28	6
2027-01-15	5k	1k	0.30	21

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