SKHY Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-27. Spot $160.61.

Put/Call (OI)

0.98

437k P / 447k C

Put/Call (Volume)

0.83

34k P / 41k C today

30d ATM IV

67%

annualized implied move

Call wall

$200

74k contracts

Put wall

$105

36k contracts

Tail hedging

1.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $200 (74k contracts), 25% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $105 (36k contracts), 35% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 67% — the market prices very large moves; option premium is expensive.

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 2026-09-25. A steep left side = expensive downside protection.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-28	40k	61k	1.54	23k
2026-09-04	13k	32k	2.44	15k
2026-09-11	5k	20k	3.81	4k
2026-09-18	102k	71k	0.70	11k
2026-09-25	8k	32k	3.92	2k
2026-10-02	1k	4k	2.39	1k
2026-10-09	0	0	—	311
2026-10-16	24k	29k	1.23	7k
2026-11-20	32k	36k	1.10	1k
2026-12-18	129k	47k	0.36	5k
2027-01-15	38k	26k	0.67	2k
2027-03-19	9k	25k	2.66	2k
2027-06-17	16k	26k	1.64	1k
2027-12-17	5k	8k	1.54	100
2028-01-21	7k	5k	0.69	887
2028-06-16	10k	8k	0.82	1k
2028-12-15	7k	6k	0.97	397

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