VLTO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $96.51.

Put/Call (OI)

0.28

1k P / 4k C

Put/Call (Volume)

0.17

2 P / 12 C today

30d ATM IV

28%

annualized implied move

Call wall

$110

2k contracts

Put wall

$85

437 contracts

Tail hedging

0.3×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.28 puts per call outstanding.
●Call wall at $110 (2k contracts), 14% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $85 (437 contracts), 12% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 3.1× 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.

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	1k	809	0.67	2
2026-09-18	68	8	0.12	5
2026-10-16	1k	147	0.14	3
2027-01-15	1k	74	0.05	4

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