WIT Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $1.94.

Put/Call (OI)

1.35

7k P / 5k C

Put/Call (Volume)

0.26

10 P / 38 C today

30d ATM IV

79%

annualized implied move

Call wall

$2.5

3k contracts

Put wall

$1.5

798 contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.35 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $2.5 (3k contracts), 29% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $1.5 (798 contracts), 23% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 4.0× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 79% — the market prices very large moves; option premium is expensive.

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.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	492	2k	3.69	15
2026-09-18	3k	2k	0.63	1
2026-12-18	2k	3k	1.74	16
2027-03-19	54	92	1.70	16

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