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: 2026-08-17 (EDT)

Max Pain Price

43.5

Exp: 2026-08-21

Gamma Flip

40.63

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.503

Shows put vs call positioning

IV Skew

-2.49

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 61%

Near-Term Options-Derived Market Structure

BEARISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

The options structure reflects a moderate bearish bias. Downside factors are present but not dominant. 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 0.586(bullish). Bullish, momentum neutral or unclear.

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 2026-09-18 options expiry. 100% confidence

The support levels for BP are at 42.65, 42.34, and 41.64, while the resistance levels are at 43.05, 43.36, and 44.06. The pivot point, a key reference price for traders, is at 43.50.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 4)

Based on the latest options positioning (DTE 4), the ATM straddle implies a standardized 1.31% 1-day move.

The expected range for the next 4 days is 41.56 — 43.76 , corresponding to +2.13% / -3.01% .

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 44.23 (3.22% above spot).

Bearish positioning points to downside pressure toward 40.80 (4.78% below spot).

Options flow strength: 0.69 (0–1 scale). ATM Strike: 43.00, Call: 0.51, Put: 0.61, Straddle Cost: 1.12.

Short-term moves may occur, but follow-through is uncertain. The short-term gamma flip is near 43.52 , with intermediate positioning around 40.63 . The mid-term gamma flip remains near 40.63.