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

Analyze the complete BP 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 BP.

Latest Data: 2026-02-06 (EDT)

Max Pain Price

40.5

Exp: 2026-02-06

Gamma Flip

34.80

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.491

Shows put vs call positioning

IV Skew

4.72

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 35%

Near-Term Options-Derived Market Structure

BEARISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

A slight bearish tilt is visible, though the signal is weak and insufficient for a strong directional call. Options Chian

On the put side, the bearish positioning looks mainly like hedging. This reflects caution and short-term protection rather than a true bearish call. Confidence: 100%

Current DPI is 0.865(neutral). ⏳ Neutral accumulation, DPI neutral, but makers are actively building positions.

Options Terrain Outlook (3-Month)

Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions are moderately choppy. Options constraints exert a moderate influence on price behavior. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-03-20 options expiry. 100% confidence

The support levels for BP are at 38.75, 38.36, and 37.50, while the resistance levels are at 39.27, 39.66, and 40.52. The pivot point, a key reference price for traders, is at 40.50.

Short-Term Options-Implied Price Range & Flow Structure (0DTE · Intraday Reference)

Expiry 2026-02-06 (DTE 0): Pinning structure with suppressed volatility. Option flow bias is bearish (-0.50), pin strength 0.70.

Based on same-day expiring options (0DTE), the ATM straddle implies an 2.05% standardized 1-day equivalent move, serving as an intraday volatility reference.

The implied intraday range is approximately 38.02 — 39.88 , corresponding to +2.22% / -2.53% .

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 40.23 (3.14% above spot).

Bearish positioning points to downside pressure toward 37.56 (3.72% below spot).

Options flow strength: 0.55 (0–1 scale). ATM Strike: 39.00, Call: 0.26, Put: 0.55, Straddle Cost: 0.80.

Price moves are likely to stay range-bound. The short-term gamma flip is near 34.27 , with intermediate positioning around 34.80 . The mid-term gamma flip remains near 34.75.