RPM Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-13. Spot $113.33.

Put/Call (OI)

0.25

351 P / 1k C

Put/Call (Volume)

—

2 P / 0 C today

30d ATM IV

30%

annualized implied move

Call wall

$125

180 contracts

Put wall

$90

150 contracts

Tail hedging

0.4×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.25 puts per call outstanding.
●Call wall at $125 (180 contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $90 (150 contracts), 21% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 2.4× 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	544	243	0.45	0
2026-09-18	133	15	0.11	0
2026-11-20	546	48	0.09	0
2027-02-19	190	45	0.24	2

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