ROP Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $389.71.

Put/Call (OI)

0.54

2k P / 3k C

Put/Call (Volume)

3.48

181 P / 52 C today

30d ATM IV

25%

annualized implied move

Call wall

$400

419 contracts

Put wall

$370

173 contracts

Tail hedging

1.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.54 puts per call outstanding.
●Call wall at $400 (419 contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $370 (173 contracts), 5% 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	2k	803	0.47	34
2026-09-18	291	121	0.42	146
2026-11-20	959	668	0.70	44
2027-02-19	188	95	0.51	9

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