XYZ Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $80.2.

Put/Call (OI)

0.58

183k P / 314k C

Put/Call (Volume)

0.46

3k P / 7k C today

30d ATM IV

35%

annualized implied move

Call wall

$95

50k contracts

Put wall

$65

21k contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.58 puts per call outstanding.
●Call wall at $95 (50k contracts), 18% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $65 (21k contracts), 19% below spot — the hedge floor; often acts as support.

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	49k	34k	0.69	2k
2026-08-28	4k	1k	0.29	509
2026-09-04	961	814	0.85	317
2026-09-11	729	635	0.87	300
2026-09-18	53k	37k	0.71	1k
2026-09-25	966	211	0.22	80
2026-10-02	39	28	0.72	57
2026-11-20	15k	10k	0.67	640
2026-12-18	73k	22k	0.30	1k
2027-01-15	73k	38k	0.52	615
2027-03-19	11k	7k	0.65	38
2027-06-17	12k	11k	0.93	1k
2028-01-21	12k	12k	1.00	2k
2028-06-16	1k	1k	1.23	216
2028-12-15	8k	8k	0.95	160

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