ROL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $36.02.

Put/Call (OI)

0.56

9k P / 16k C

Put/Call (Volume)

0.60

325 P / 541 C today

30d ATM IV

26%

annualized implied move

Call wall

$37.5

3k contracts

Put wall

$35

2k contracts

Tail hedging

0.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.56 puts per call outstanding.
●Call wall at $37.5 (3k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $35 (2k contracts), 3% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 46.6× deep-OTM put OI — speculative upside positioning dominates the tails.

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	2k	0.44	98
2026-09-18	4k	5k	1.14	486
2026-11-20	3k	612	0.23	178
2027-02-19	3k	682	0.23	104

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