SGI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-06. Spot $70.1.

Put/Call (OI)

0.13

7k P / 52k C

Put/Call (Volume)

0.05

354 P / 6k C today

30d ATM IV

58%

annualized implied move

Call wall

$75

18k contracts

Put wall

$65

2k contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.13 puts per call outstanding.
●Call wall at $75 (18k contracts), 7% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $65 (2k contracts), 7% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 11.0× 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	34k	3k	0.10	3k
2026-09-18	13k	1k	0.08	4k
2026-10-16	3	0	0.00	3
2026-11-20	821	324	0.39	0
2026-12-18	422	68	0.16	0
2027-01-15	1k	409	0.33	0
2027-02-19	2k	1k	0.56	10
2027-03-19	32	21	0.66	5

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