TAK Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $17.41.

Put/Call (OI)

0.12

355 P / 3k C

Put/Call (Volume)

0.62

21 P / 34 C today

30d ATM IV

28%

annualized implied move

Call wall

$17.5

1k contracts

Put wall

$12.5

45 contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.12 puts per call outstanding.
●Call wall at $17.5 (1k contracts), 1% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $12.5 (45 contracts), 28% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 11.4× 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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	650	32	0.05	7
2026-09-18	63	38	0.60	6
2026-10-16	1k	71	0.05	7
2027-01-15	901	214	0.24	35

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