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: 2026-03-25 (EDT)

Max Pain Price

Exp: 2026-03-27

Gamma Flip

93.68

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.608

Shows put vs call positioning

IV Skew

0.73

Put–call IV difference

Max Pain Price Volatility

σ = 9.15

medium volatility

Confidence 88%

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: 67%

Current DPI is -0.438(bullish). Bullish, momentum neutral or unclear.

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 2026-05-15 options expiry. 100% confidence

The support levels for CL are at 85.05, 84.40, and 82.94, while the resistance levels are at 85.93, 86.58, and 88.04. The pivot point, a key reference price for traders, is at 98.00.

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

Based on the latest options positioning (DTE 2), the ATM straddle implies a standardized 1.36% 1-day move.

The expected range for the next 2 days is 84.38 — 91.37 , corresponding to +6.88% / -1.30% .

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 96.30 (12.65% above spot).

Bearish positioning points to downside pressure toward 83.97 (1.77% below spot).

Options flow strength: 0.47 (0–1 scale). ATM Strike: 85.00, Call: 1.10, Put: 0.55, Straddle Cost: 1.65.

Price moves may extend once a direction forms. The short-term gamma flip is near 94.10 , with intermediate positioning around 93.68 . The mid-term gamma flip remains near 93.64.