WY Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $24.08.

Put/Call (OI)

0.52

19k P / 37k C

Put/Call (Volume)

1.78

513 P / 288 C today

30d ATM IV

24%

annualized implied move

Call wall

$27

12k contracts

Put wall

$23

6k contracts

Tail hedging

0.1×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.52 puts per call outstanding.
●Call wall at $27 (12k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $23 (6k contracts), 4% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 8.8× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 24% — 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	6k	5k	0.83	208
2026-09-18	3k	4k	1.21	478
2026-10-16	3k	3k	0.96	30
2027-01-15	16k	6k	0.37	38
2028-01-21	9k	2k	0.17	47

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