RTX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $222.2.

Put/Call (OI)

0.99

98k P / 99k C

Put/Call (Volume)

0.15

4k P / 27k C today

30d ATM IV

24%

annualized implied move

Call wall

$230

13k contracts

Put wall

$195

11k contracts

Tail hedging

4.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $230 (13k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $195 (11k contracts), 12% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 4.6× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 24% — 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	16k	29k	1.83	16k
2026-08-28	2k	5k	2.32	819
2026-09-04	854	1k	1.57	843
2026-09-11	466	490	1.05	2k
2026-09-18	18k	16k	0.92	8k
2026-09-25	165	168	1.02	71
2026-10-02	0	0	—	68
2026-10-16	2k	1k	0.60	382
2026-11-20	8k	8k	0.96	529
2026-12-18	10k	7k	0.66	1k
2027-01-15	18k	18k	1.04	677
2027-02-19	9k	941	0.10	325
2027-03-19	4k	5k	1.23	111
2027-06-17	4k	2k	0.50	191
2028-01-21	7k	4k	0.60	137

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