AAL Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure

Analyze the complete AAL options chain including strike-level open interest, real-time implied volatility (IV), max pain levels, gamma exposure, dealer positioning, and options flow trends. This dashboard provides data-driven insights for traders building directional or hedging strategies around AAL.

Latest Data: 2026-10-13 (EDT)

Max Pain Price

Exp: 2026-10-16

Gamma Flip

14.12

Gamma Flip (≈60 days)

Put/Call OI Ratio

2.017

Shows put vs call positioning

IV Skew

-6.76

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 62%

Near-Term Options-Derived Market Structure

BULLISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

The options data shows a moderate bullish tilt. There is some directional support, though momentum remains limited. Options Chian

Looking only at the put-side activity, there is a bearish directional push. This suggests some traders are actively betting on downside. Confidence: 67%

Current DPI is -0.473(neutral). Neutral consolidation, trend and momentum are indistinct. From the current DPI structure, dealers appear largely neutral, suggesting limited willingness to reinforce directional price moves..

Options Terrain Outlook (3-Month)

Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions remain relatively smooth. Options constraints exert a moderate influence on price behavior. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-10-16 options expiry. 100% confidence

The support levels for AAL are at 12.42, 12.31, and 11.93, while the resistance levels are at 12.58, 12.69, and 13.07. The pivot point, a key reference price for traders, is at 13.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 3)

Based on the latest options positioning (DTE 3), the ATM straddle implies a standardized 1.89% 1-day move.

The expected range for the next 3 days is 12.07 — 13.29 , corresponding to +6.28% / -3.42% .

Estimated using ATM implied volatility, OTM option flow, and dealer hedging conditions to capture the market-implied price range.

Bullish flow suggests upside interest toward 13.80 (10.41% above spot).

Bearish positioning points to downside pressure toward 11.84 (5.30% below spot).

Options flow strength: 0.67 (0–1 scale). ATM Strike: 12.50, Call: 0.17, Put: 0.24, Straddle Cost: 0.41.

Market signals are mixed and less reliable. No short-term gamma flip is observed , with intermediate positioning around 14.12 . The mid-term gamma flip remains near 14.08.