VRT Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $293.15.

Put/Call (OI)

1.02

227k P / 222k C

Put/Call (Volume)

2.14

18k P / 8k C today

30d ATM IV

59%

annualized implied move

Call wall

$340

9k contracts

Put wall

$210

23k contracts

Tail hedging

2.1×

deep-OTM puts vs calls

What the positioning says

●Call wall at $340 (9k contracts), 16% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $210 (23k contracts), 28% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.1× 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	32k	58k	1.84	9k
2026-08-28	6k	11k	2.03	3k
2026-09-04	5k	2k	0.44	949
2026-09-11	1k	1k	0.89	544
2026-09-18	28k	51k	1.82	2k
2026-09-25	401	406	1.01	337
2026-10-02	19	28	1.47	8k
2026-10-16	9k	12k	1.38	688
2026-11-20	13k	12k	0.95	552
2026-12-18	7k	10k	1.47	1k
2027-01-15	86k	39k	0.45	450
2027-03-19	8k	7k	0.87	94
2027-06-17	8k	6k	0.81	79
2028-01-21	18k	13k	0.73	192
2028-06-16	410	801	1.95	53
2028-12-15	677	2k	2.51	29

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