CMS Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure
Analyze the complete CMS 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 CMS.
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: 54%
Current DPI is -0.417(bearish). Bearish, momentum neutral or unclear.
Options Terrain Outlook (3-Month)
Options positioning suggests a structurally constrained trading environment, where price movements are more likely to stall or mean-revert rather than extend. Volatility conditions are moderately choppy. Price action is strongly influenced by existing options constraints. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-09-18 options expiry. 100% confidence
Short-Term Options-Implied Price Range & Flow Structure (DTE: 21)
Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 0.81% 1-day move.
The expected range for the next 21 days is 65.97 — 70.66 , corresponding to +3.60% / -3.28% .
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 72.59 (6.42% above spot).
Bearish positioning points to downside pressure toward 64.23 (5.83% below spot).
Options flow strength: 0.52 (0–1 scale). ATM Strike: 70.00, Call: 0.53, Put: 2.00, Straddle Cost: 2.52.
Price moves are likely to stay range-bound. The short-term gamma flip is near 65.77 , with intermediate positioning around 67.75 . The mid-term gamma flip remains near 67.75.