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

Analyze the complete BTU 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 BTU.

Latest Data: 2026-10-14 (EDT)

Max Pain Price

Exp: 2026-10-16

Gamma Flip

25.35

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.912

Shows put vs call positioning

IV Skew

-5.05

Put–call IV difference

Max Pain Price Volatility

σ = 5.28

medium volatility

Confidence 50%

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: 60%

Current DPI is 0.201(neutral). ⏳ Neutral accumulation, DPI neutral, but makers are actively building positions.

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. Options constraints exert a moderate influence on price behavior. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2027-01-15 options expiry. 90% confidence

The support levels for BTU are at 23.24, 22.91, and 21.31, while the resistance levels are at 23.68, 24.01, and 25.61. The pivot point, a key reference price for traders, is at 30.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 2)

Based on the latest options positioning (DTE 2), the ATM straddle implies a standardized 3.07% 1-day move.

The expected range for the next 2 days is 21.90 — 25.81 , corresponding to +10.01% / -6.65% .

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 27.52 (17.30% above spot).

Bearish positioning points to downside pressure toward 20.88 (10.98% below spot).

Options flow strength: 0.54 (0–1 scale). ATM Strike: 23.50, Call: 0.73, Put: 0.29, Straddle Cost: 1.02.

Price moves may extend once a direction forms. The short-term gamma flip is near 25.29 , with intermediate positioning around 25.35 . The mid-term gamma flip remains near 25.78.