TS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $53.44.

Put/Call (OI)

0.60

4k P / 7k C

Put/Call (Volume)

9.00

9 P / 1 C today

30d ATM IV

31%

annualized implied move

Call wall

$62.5

2k contracts

Put wall

$52.5

569 contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.60 puts per call outstanding.
●Call wall at $62.5 (2k contracts), 17% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $52.5 (569 contracts), 2% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 6.5× 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	1k	76	0.07	8
2026-09-18	3k	1k	0.37	1
2026-11-20	194	335	1.73	0
2026-12-18	2k	2k	1.10	1
2027-03-19	24	24	1.00	0

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