Editing Openai/691df491-0d78-8005-ad11-12760f0fa16d (section)

=== Assistant: Thanks — with volatility at 116.92%, spot around $184.98, and climbing off a brief dip to $184.61, here’s your refined … ===
Thanks — with volatility at 116.92%, spot around $184.98, and climbing off a brief dip to $184.61, here’s your refined institutional strike zone from that UOA you posted.

Applying the saved filter (±$5 around spot, OI-vs-volume confirmed, far OTM removed), here’s what stands out:

===== 📊 Institutional Call Cluster ($180–$185): =====

| Strike | Volume / OI | Volume | Open Interest | Notes                                          |
| ------ | ----------- | ------ | ------------- | ---------------------------------------------- |
| 185 C  | 5.46x       | 8,582  | 1,571         | Strongest institutional signal, highest volume |
| 184 C  | 3.66x       | 1,792  | 489           | Supportive, but lighter flow                   |
| 183 C  | 2.00x       | 641    | 320           | Institutional trail                            |

📌 Recommendation:
→ The $185C is the clear institutional favorite. Volume crushes OI, and it’s right at the upper edge of the zone. With volatility high, market makers are likely charging heavy premium — but this is where the money is.

===== 🔻 Institutional Put Cluster ($170–$180): =====

| Strike | Volume / OI | Volume | Open Interest | Notes                                               |
| ------ | ----------- | ------ | ------------- | --------------------------------------------------- |
| 180 P  | 2.60x       | 1,030  | 396           | Nearest real bearish hedge                          |
| 179 P  | 2.32x       | 1,260  | 542           | Solid activity just under                           |
| 177 P  | 2.26x       | 2,485  | 1,098         | Big volume, slightly out of zone but still relevant |
| 176 P  | 2.56x       | 1,408  | 551           | More aggressive downside hedge                      |
| 175 P  | 1.87x       | 1,090  | 584           | Edge of filter, may be retail spillover             |

📌 Recommendation:
→ $180P is the closest strong institutional play, with 177P and 176P being bearish continuation hedges. If you’re betting on a rejection from $185 or volatility reversal, these puts are where funds are layering protection.

===== 🧠 Strategic Takeaway: =====
* Calls show heavy interest right at the upper limit, hinting that funds expect a breakout or strong continuation through $185.
* Puts are more distributed, suggesting protection layering rather than conviction in a crash.
* At 116% IV, premiums are jacked — ideal for selling if momentum slows, or for fast scalps if it rips past resistance.

Let me know if you want scalping levels based on HOD, fibs, or top holdings momentum.