STT Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $193.04.

Put/Call (OI)

0.87

16k P / 18k C

Put/Call (Volume)

1.11

867 P / 779 C today

30d ATM IV

27%

annualized implied move

Call wall

$195

2k contracts

Put wall

$180

1k contracts

Tail hedging

8.8×

deep-OTM puts vs calls

What the positioning says

●Call wall at $195 (2k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $180 (1k contracts), 7% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 8.8× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	5k	2k	0.44	432
2026-09-18	5k	4k	0.80	320
2026-11-20	1k	1k	0.89	339
2026-12-18	575	683	1.19	15
2027-01-15	4k	6k	1.45	286
2027-02-19	129	120	0.93	16
2027-03-19	1k	882	0.80	103
2027-06-17	351	642	1.83	1
2028-01-21	960	544	0.57	134

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