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
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
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: 85%
Current DPI is 0.193(strong-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 2026-09-18 options expiry. 100% confidence
Short-Term Options-Implied Price Range & Flow Structure (DTE: 2)
Based on the latest options positioning (DTE 2), the ATM straddle implies a standardized 1.34% 1-day move.
The expected range for the next 2 days is 70.08 — 74.94 , corresponding to +1.24% / -5.33% .
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 75.28 (1.70% above spot).
Bearish positioning points to downside pressure toward 66.43 (10.26% below spot).
Options flow strength: 0.32 (0–1 scale). ATM Strike: 75.00, Call: 0.53, Put: 0.88, Straddle Cost: 1.40.
Price moves are likely to stay range-bound. The short-term gamma flip is near 51.81 , with intermediate positioning around 74.36 . The mid-term gamma flip remains near 70.68.