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

Analyze the complete AON 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 AON.

Latest Data: 2026-02-06 (EDT)

Max Pain Price

340

Exp: 2026-02-20

Gamma Flip

355.72

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.776

Shows put vs call positioning

IV Skew

-1.70

Put–call IV difference

Max Pain Price Volatility

σ = 0.00

low volatility

Confidence 75%

Near-Term Options-Derived Market Structure

BULLISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

The options market shows a strong bullish alignment. Multiple key factors point firmly to the upside, supported by dealer flows and positioning. 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: 60%

Current DPI is -0.5(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)

The market is positioned near a structural transition zone, where options exposure may shift the prevailing trading regime. Volatility conditions are moderately choppy. Price action is strongly influenced by existing options constraints. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-02-20 options expiry. 90% confidence

The support levels for AON are at 339.21, 335.81, and 327.47, while the resistance levels are at 344.87, 348.27, and 356.61. The pivot point, a key reference price for traders, is at 340.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 14)

Based on the latest options positioning (DTE 14), the ATM straddle implies a standardized 0.95% 1-day move.

The expected range for the next 14 days is 339.11 — 353.51 , corresponding to +3.35% / -0.86% .

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 360.93 (5.52% above spot).

Bearish positioning points to downside pressure toward 338.21 (1.12% below spot).

Options flow strength: 0.70 (0–1 scale). ATM Strike: 340.00, Call: 7.65, Put: 4.55, Straddle Cost: 12.20.

Price moves may extend once a direction forms. The short-term gamma flip is near 357.15 , with intermediate positioning around 355.72 . The mid-term gamma flip remains near 354.65.