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

Analyze the complete CL 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 CL.

Latest Data: 2026-07-14 (EDT)

Max Pain Price

Exp: 2026-07-17

Gamma Flip

86.62

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.729

Shows put vs call positioning

IV Skew

1.52

Put–call IV difference

Max Pain Price Volatility

σ = 8.02

medium volatility

Confidence 85%

Near-Term Options-Derived Market Structure

NEUTRAL OUTLOOK

Reflecting options positioning and volatility conditions over the coming sessions.

The options structure reflects a high-confidence neutral environment. Dealer positioning and volatility suppression suggest a stable range-bound setup rather than a directional move. 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: 71%

Current DPI is 0.374(bearish). Bearish, 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 2026-07-17 options expiry. 100% confidence

The support levels for CL are at 90.57, 89.88, and 88.31, while the resistance levels are at 91.49, 92.18, and 93.75. The pivot point, a key reference price for traders, is at 85.00.

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

Based on the latest options positioning (DTE 3), the ATM straddle implies a standardized 1.28% 1-day move.

The expected range for the next 3 days is 87.83 — 93.43 , corresponding to +2.64% / -3.52% .

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 94.82 (4.16% above spot).

Bearish positioning points to downside pressure toward 85.80 (5.74% below spot).

Options flow strength: 0.66 (0–1 scale). ATM Strike: 91.00, Call: 1.40, Put: 0.62, Straddle Cost: 2.02.

Market signals are mixed and less reliable. No short-term gamma flip is observed , with intermediate positioning around 86.62 . The mid-term gamma flip remains near 87.07.