VEEV Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $244.45.

Put/Call (OI)

0.43

14k P / 32k C

Put/Call (Volume)

0.72

957 P / 1k C today

30d ATM IV

49%

annualized implied move

Call wall

$250

3k contracts

Put wall

$150

1k contracts

Tail hedging

2.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.43 puts per call outstanding.
●Call wall at $250 (3k contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $150 (1k contracts), 39% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.2× deep-OTM call OI — an institutional hedging ladder sits under this stock.

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	4k	3k	0.65	690
2026-09-18	10k	4k	0.46	801
2026-12-18	2k	2k	0.85	427
2027-01-15	6k	2k	0.33	171
2027-03-19	4k	696	0.16	30
2027-06-17	3k	772	0.22	32
2028-01-21	2k	1k	0.64	78
2028-12-15	102	111	1.09	59

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