WCC Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $372.96.

Put/Call (OI)

0.58

2k P / 3k C

Put/Call (Volume)

1.10

33 P / 30 C today

30d ATM IV

37%

annualized implied move

Call wall

$380

376 contracts

Put wall

$320

315 contracts

Tail hedging

3.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.58 puts per call outstanding.
●Call wall at $380 (376 contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $320 (315 contracts), 14% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.1× 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	1k	1k	0.92	37
2026-09-18	1k	179	0.18	2
2026-10-16	123	134	1.09	10
2026-11-20	141	204	1.45	8
2026-12-18	128	146	1.14	3
2027-01-15	468	49	0.10	0
2027-03-19	50	21	0.42	0
2027-04-16	90	60	0.67	2
2027-05-21	5	0	0.00	1

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