TJX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $151.4.

Put/Call (OI)

1.04

64k P / 62k C

Put/Call (Volume)

0.64

4k P / 6k C today

30d ATM IV

27%

annualized implied move

Call wall

$170

9k contracts

Put wall

$145

18k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Call wall at $170 (9k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $145 (18k contracts), 4% 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.

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	9k	9k	1.06	6k
2026-08-28	634	8k	11.96	627
2026-09-04	712	4k	5.01	177
2026-09-11	2k	705	0.42	31
2026-09-18	17k	15k	0.90	2k
2026-09-25	76	41	0.54	12
2026-10-02	10	11	1.10	18
2026-10-16	6k	4k	0.63	469
2026-12-18	4k	6k	1.35	367
2027-01-15	14k	13k	0.93	416
2027-03-19	1k	2k	2.06	45
2027-06-17	678	1k	1.53	141
2028-01-21	7k	2k	0.24	203

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