VTRS Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $16.27.

Put/Call (OI)

0.45

47k P / 103k C

Put/Call (Volume)

0.24

85 P / 351 C today

30d ATM IV

32%

annualized implied move

Call wall

$17

9k contracts

Put wall

$15

17k contracts

Tail hedging

0.6×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.45 puts per call outstanding.
●Call wall at $17 (9k contracts), 4% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $15 (17k contracts), 8% below spot — the hedge floor; often acts as support.

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	9k	23k	2.43	73
2026-09-18	2k	1k	0.82	85
2026-10-16	11k	3k	0.24	162
2027-01-15	75k	19k	0.25	94
2028-01-21	6k	1k	0.17	22

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