SE Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-19. Spot $116.2.

Put/Call (OI)

0.68

114k P / 167k C

Put/Call (Volume)

0.24

1k P / 6k C today

30d ATM IV

44%

annualized implied move

Call wall

$120

27k contracts

Put wall

$100

16k contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.68 puts per call outstanding.
●Call wall at $120 (27k contracts), 3% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $100 (16k contracts), 14% 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	30k	23k	0.79	895
2026-08-28	1k	688	0.64	2k
2026-09-04	644	443	0.69	99
2026-09-11	4k	292	0.07	143
2026-09-18	25k	21k	0.84	1k
2026-09-25	474	505	1.07	24
2026-10-02	35	29	0.83	20
2026-10-16	18k	21k	1.16	493
2026-11-20	6k	4k	0.78	184
2026-12-18	10k	10k	0.94	194
2027-01-15	24k	12k	0.50	1k
2027-02-19	214	168	0.79	22
2027-03-19	4k	3k	0.81	668
2027-06-17	26k	14k	0.54	65
2028-01-21	17k	2k	0.14	92

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