The book opened 15.16M against 14.26M ADV
OI 15.16M vs 14.26M 5-day ADV. 59 percent calls. SPX closed 7,708, up 0.2 percent from Tuesday. VIX fell 6 percent to 14.91.
SPY puts: 386k / 446k / 372k over the last three sessions. SPX puts 282k against 408k. VIX calls 444k / 291k / 337k. TLT opened 111k puts against 179k calls, after 158k calls the session before. Single stocks took 60 percent of the new interest, above their own average.
US listed options
How Stocks, ETFs and Indices Changed, vs Average Daily Change
Put/call of contracts opened, with the five-day mark. Today versus the prior five sessions.
Put/call = puts opened ÷ calls opened. Opened means contracts that gained open interest, study to settle. The gold mark is that same ratio over the prior five sessions (puts opened in the window ÷ calls opened in the window). Scale is log 0.5–2.0; 1.0 is an even split. Above 1.0 sits left (put-heavy).
vs ADV = contracts opened today ÷ the mean opened over those five sessions. Scale is log 0.5–2.0; 1.0 is the usual size.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ADV window 12–18 Aug
Just under 60 percent of contracts opened on Wednesday were single stocks. That is where the book sat: not in the index complex, which printed 1.03 million, 7 percent of the day.
The exception on the figure is exchange-traded funds, the only class where puts outran calls — 2.39M against 2.68M. They have on 5 of the last 5 sessions. Stocks opened calls on all 5. That shape is the standing book.
US single stocks · by sector
How each sector changed, vs average daily change
Put/call of contracts opened, with the five-day mark. Today versus the prior five sessions.
Put/call = puts opened ÷ calls opened. Opened means contracts that gained open interest, study to settle. The gold mark is that same ratio over the prior five sessions (puts opened in the window ÷ calls opened in the window). Scale is log 0.5–2.0; 1.0 is an even split. Above 1.0 sits left (put-heavy).
vs ADV = contracts opened today ÷ the mean opened over those five sessions. Scale is log 0.5–2.0; 1.0 is the usual size.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ADV window 12–18 Aug · common stock and ADRs
Healthcare opened 2.46× its 5-day ADV. Consumer Defensive 1.63×. Technology was 0.95× — the large book was below its usual size.
the volatility complex, every day
Of the 0.31M VIX calls added net, 100k landed in the 21 October expiry. The front (26 August, 6d) added 11k calls.
Which expiry took the flow
Change in open interest by expiry, with at-the-money implied volatility. Each expiry prices off its own future.
The standing call book is still the ladder. The session’s largest add was the 80s, 33k calls onto a standing 0.11M.
What the change built onto
Contracts outstanding — pale is Wednesday's open, solid is what the session added.
Open interest change is settle minus study. Opened, in the paragraph, means contracts that gained open interest.
A VIX option prices off the future for its own expiry, not spot VIX. Implied vol is the median over a tight at-the-money band (delta 0.4–0.6) on the study tape, 13:30–20:51 UTC. VIX option IV is vol-of-vol; it prints near 150 percent, not 15.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ADV window 12–18 Aug · VIX + VIXW
Two cuts. Wednesday versus each name’s own five-day average — TEM 19.9×, MRNA 13.8×, XBI 7.7×. And a three-day run after a quiet book: KLAR 30k / 27k / 15k against a 5.5k median. A package (GLD, HYG, GDX) stays off the figure. Pre-earnings and earnings-day names are off the board (PDD, TJX, TGT, PURR).
open interest · by name
Contracts opened 19 August versus each name’s five-day average
A reading of 1× is that name’s usual day. Colour is put or call of the contracts that opened. The bar is capped at 8×; a reading off-scale is labelled.
Multiple = contracts that gained open interest, study to settle, divided by the mean of that same measure over the prior five sessions (12–18 Aug). Scale is linear 0–8. Colour is puts opened ÷ calls opened. Option-volume ADV ≥ 5k, standing OI ≥ 10k, at least 8k opened, not a package, not pre-earnings or earnings-day.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ADV window 12–18 Aug · proposal, not locked
open interest · by name
Three-day run after a quiet book
Each of the last three sessions opened at least twice the median of the ten sessions before that.
| Name | Quiet median | Mon 17 · Tue 18 · Wed 19 | vs 5-day ADV |
|---|---|---|---|
| KLAR | 5.5k | 30k · 27k · 15k | 1.02× |
| AS | 4.2k | 16k · 59k · 17k | 0.50× |
| RAM | 2.2k | 6.5k · 7.3k · 4.7k | 0.97× |
| METU | 2.2k | 9.8k · 7.4k · 7.0k | 1.40× |
| MSTX | 1.6k | 3.7k · 4.3k · 5.1k | 1.98× |
| BRUN | 1.4k | 30k · 4.9k · 11k | 0.96× |
| PAGP | 1.1k | 8.2k · 4.2k · 3.2k | 0.50× |
| XP | 701 | 5.1k · 23k · 1.7k | 0.27× |
| VIVO | 589 | 3.0k · 2.1k · 1.4k | 0.56× |
| HBAN | 208 | 29k · 1.8k · 5.4k | 0.85× |
| QMCO | 128 | 564 · 329 · 322 | 0.15× |
Quiet median is the median of contracts opened over the ten sessions before the three-day run, same two-bucket query.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ADV window 12–18 Aug · proposal, not locked
TEM · Tempus AI, Inc
Wednesday versus its own five-day average
19.9× its own five-day average — 57k opened, call-heavy.
TEM open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · TEM
TEM contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · TEM
MRNA · Moderna, Inc
Wednesday versus its own five-day average
13.8× its own five-day average — 0.24M opened, put-heavy.
MRNA open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, 13:30–20:00 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MRNA
MRNA contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MRNA
XBI · State Street SPDR S&P Biotech ETF
Wednesday versus its own five-day average
7.7× its own five-day average — 36k opened, put-heavy.
XBI open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · XBI
XBI contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · XBI
ETHA · iShares Ethereum Trust ETF
Wednesday versus its own five-day average
6.5× its own five-day average — 0.33M opened, call-heavy.
ETHA open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, 13:30–20:00 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ETHA
ETHA contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · ETHA
MRK · Merck & Co., Inc
Wednesday versus its own five-day average
6.4× its own five-day average — 71k opened, call-heavy.
MRK open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MRK
MRK contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MRK
SBET · Sharplink, Inc
Wednesday versus its own five-day average
6.1× its own five-day average — 33k opened, call-heavy.
SBET open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · SBET
SBET contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · SBET
SOC · Sable Offshore Corp
Wednesday versus its own five-day average
5.9× its own five-day average — 33k opened, put-heavy.
SOC open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · SOC
SOC contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · SOC
RXRX · Recursion Pharmaceuticals, Inc
Wednesday versus its own five-day average
5.6× its own five-day average — 17k opened, call-heavy.
RXRX open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · RXRX
RXRX contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · RXRX
MDT · Medtronic plc
Wednesday versus its own five-day average
5.6× its own five-day average — 26k opened, call-heavy.
MDT open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MDT
MDT contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MDT
BMY · Bristol-Myers Squibb Company
Wednesday versus its own five-day average
5.6× its own five-day average — 31k opened, call-heavy.
BMY open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · BMY
BMY contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · BMY
PFE · Pfizer Inc
Wednesday versus its own five-day average
5.3× its own five-day average — 0.16M opened, call-heavy.
PFE open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:31–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · PFE
PFE contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · PFE
BTBT · Bit Digital, Inc
Wednesday versus its own five-day average
4.1× its own five-day average — 18k opened, call-heavy.
BTBT open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · BTBT
BTBT contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · BTBT
CDE · Coeur Mining, Inc
Wednesday versus its own five-day average
3.7× its own five-day average — 25k opened, call-heavy.
CDE open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:32–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · CDE
CDE contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · CDE
SAN · Banco Santander, S.A
Wednesday versus its own five-day average
3.5× its own five-day average — 12k opened, call-heavy.
SAN open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · SAN
SAN contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · SAN
KLAR · Klarna Group plc
3-day run after a quiet book
Three-day run after a quiet book: 30k / 27k / 15k against a 5.5k median.
KLAR open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · KLAR
KLAR contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · KLAR
AS · Amer Sports, Inc
3-day run after a quiet book
Three-day run after a quiet book: 16k / 59k / 17k against a 4.2k median.
AS open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · AS
AS contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · AS
RAM · RAM
3-day run after a quiet book
Three-day run after a quiet book: 6.5k / 7.3k / 4.7k against a 2.2k median.
RAM open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · RAM
RAM contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · RAM
METU · Direxion Daily META Bull 2X ETF
3-day run after a quiet book
Three-day run after a quiet book: 9.8k / 7.4k / 7.0k against a 2.2k median.
METU open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · METU
METU contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · METU
MSTX · Daily Target 2X Long MSTR ETF
3-day run after a quiet book
Three-day run after a quiet book: 3.7k / 4.3k / 5.1k against a 1.6k median.
MSTX open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MSTX
MSTX contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · MSTX
BRUN · Boost Run Inc. Class A Common Stock
3-day run after a quiet book
Three-day run after a quiet book: 30k / 4.9k / 11k against a 1.4k median.
BRUN open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:58 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · BRUN
BRUN contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · BRUN
PAGP · Plains GP Holdings LP
3-day run after a quiet book
Three-day run after a quiet book: 8.2k / 4.2k / 3.2k against a 1.1k median.
PAGP open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · PAGP
PAGP contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · PAGP
XP · XP Inc
3-day run after a quiet book
Three-day run after a quiet book: 5.1k / 23k / 1.7k against a 701 median.
XP open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · XP
XP contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · XP
VIVO · VivoPower PLC
3-day run after a quiet book
Three-day run after a quiet book: 3.0k / 2.1k / 1.4k against a 589 median.
VIVO open interest change by expiry
Change in open interest by expiry, 19 August.
FZN Analytics · settled open interest, 19–20 Aug 2026 · VIVO
VIVO contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · VIVO
HBAN · Huntington Bancshares Incorporated
3-day run after a quiet book
Three-day run after a quiet book: 29k / 1.8k / 5.4k against a 208 median.
HBAN open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:58 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · HBAN
HBAN contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · HBAN
QMCO · Quantum Corporation
3-day run after a quiet book
Three-day run after a quiet book: 564 / 329 / 322 against a 128 median.
QMCO open interest change by expiry
Change in open interest by expiry, 19 August. At-the-money implied vol, tape truncated, 13:30–19:59 UTC.
FZN Analytics · settled open interest, 19–20 Aug 2026 · QMCO
QMCO contracts outstanding by strike
Pale is Wednesday’s open, solid is what the session added.
FZN Analytics · settled open interest, 19–20 Aug 2026 · QMCO