UL Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $61.23.

Put/Call (OI)

0.85

36k P / 42k C

Put/Call (Volume)

0.17

247 P / 1k C today

30d ATM IV

21%

annualized implied move

Call wall

$65

7k contracts

Put wall

$57.5

6k contracts

Tail hedging

0.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $65 (7k contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $57.5 (6k contracts), 6% below spot — the hedge floor; often acts as support.
●30-day ATM implied volatility is 21% — calm pricing; option premium is cheap.

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	9k	8k	0.90	629
2026-08-28	122	44	0.36	25
2026-09-04	51	373	7.31	8
2026-09-11	16	28	1.75	41
2026-09-18	1k	2k	1.56	119
2026-09-25	1	19	19.00	9
2026-10-02	0	0	—	4
2026-11-20	5k	3k	0.75	580
2026-12-18	7k	11k	1.52	54
2027-01-15	9k	3k	0.30	113
2027-02-19	186	35	0.19	65
2027-06-17	5k	3k	0.58	2
2027-12-17	6k	5k	0.91	58

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