WST Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $350.37.

Put/Call (OI)

0.88

3k P / 3k C

Put/Call (Volume)

2.00

28 P / 14 C today

30d ATM IV

27%

annualized implied move

Call wall

$400

470 contracts

Put wall

$270

559 contracts

Tail hedging

2.2×

deep-OTM puts vs calls

What the positioning says

●Call wall at $400 (470 contracts), 14% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $270 (559 contracts), 23% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.2× 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	818	496	0.61	2
2026-09-18	420	334	0.80	6
2026-12-18	847	1k	1.42	0
2027-01-15	614	390	0.64	28
2027-03-19	31	16	0.52	0
2027-12-17	242	176	0.73	6

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