TKO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $195.14.

Put/Call (OI)

0.44

3k P / 7k C

Put/Call (Volume)

0.29

26 P / 90 C today

30d ATM IV

30%

annualized implied move

Call wall

$240

1k contracts

Put wall

$170

835 contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.44 puts per call outstanding.
●Call wall at $240 (1k contracts), 23% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $170 (835 contracts), 13% 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	2k	1k	0.76	65
2026-09-18	187	228	1.22	14
2026-10-16	2k	779	0.35	9
2027-01-15	2k	718	0.29	18
2028-01-21	483	186	0.39	10

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