RS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $428.02.

Put/Call (OI)

0.37

451 P / 1k C

Put/Call (Volume)

0.07

3 P / 41 C today

30d ATM IV

25%

annualized implied move

Call wall

$460

102 contracts

Put wall

$250

36 contracts

Tail hedging

1.5×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.37 puts per call outstanding.
●Call wall at $460 (102 contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $250 (36 contracts), 42% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 25% — calm pricing; option premium is cheap.

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	108	131	1.21	8
2026-09-18	208	124	0.60	1
2026-10-16	60	14	0.23	2
2026-11-20	36	31	0.86	1
2026-12-18	315	121	0.38	31
2027-03-19	248	10	0.04	1
2027-06-17	1	4	4.00	0
2027-12-17	247	16	0.06	0

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