WAB Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $301.58.

Put/Call (OI)

0.72

1k P / 2k C

Put/Call (Volume)

0.10

22 P / 223 C today

30d ATM IV

23%

annualized implied move

Call wall

$320

271 contracts

Put wall

$260

303 contracts

Tail hedging

3.0×

deep-OTM puts vs calls

What the positioning says

●Call wall at $320 (271 contracts), 6% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $260 (303 contracts), 14% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.0× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 23% — 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.

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	607	363	0.60	183
2026-09-18	102	91	0.89	24
2026-10-16	378	628	1.66	18
2027-01-15	699	235	0.34	9
2027-02-19	22	0	0.00	11
2027-05-21	25	5	0.20	0

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