CTAS (CTAS) options memo

The Read

CTAS is up 0.45% today at $203.05.

Options traders lean neutral into 2026-08-07, and neutral further out.

A move through the gamma flip level would change how dealers hedge this stock.

Key numbers

• Spot: $203.05
• Lean: neutral
• Nearest expiry: Fri 8/28
• Implied move: 1.4%
• ATM implied volatility: 27.1%
• Max pain: $197.50
• Pin strike: $190.00
• Gamma flip: $170.00
• Dealer positioning: SHORT GAMMA
• Call wall: $212.50
• Put wall: $180.00
• Put/call open interest: 0.400