SHG Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $75.92.

Put/Call (OI)

0.11

127 P / 1k C

Put/Call (Volume)

—

0 P / 0 C today

30d ATM IV

39%

annualized implied move

Call wall

$80

383 contracts

Put wall

$60

37 contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.11 puts per call outstanding.
●Call wall at $80 (383 contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $60 (37 contracts), 21% 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
2026-08-21	569	10	0.02
2026-09-18	206	43	0.21
2026-12-18	364	64	0.18
2027-03-19	23	10	0.43

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