RCI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $36.09.

Put/Call (OI)

1.52

5k P / 4k C

Put/Call (Volume)

0.00

0 P / 15 C today

30d ATM IV

29%

annualized implied move

Call wall

$40

2k contracts

Put wall

$30

3k contracts

Tail hedging

1.6×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.52 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $40 (2k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (3k contracts), 17% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	1k	2k	1.44	0
2026-09-18	26	607	23.35	0
2026-10-16	1k	1k	0.89	0
2027-01-15	1k	2k	1.73	15

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