CNQ Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure
Analyze the complete CNQ 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 CNQ.
Near-Term Options-Derived Market Structure
BEARISH BIAS
Reflecting options positioning and volatility conditions over the coming sessions.
A slight bearish tilt is visible, though the signal is weak and insufficient for a strong directional call. 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: 100%
Current DPI is 0.889(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 (0DTE · Intraday Reference)
Expiry 2026-08-28 (DTE 0): Pinning structure with suppressed volatility. Option flow bias is bullish (0.30), pin strength 0.80.
Based on same-day expiring options (0DTE), the ATM straddle implies an 2.83% standardized 1-day equivalent move, serving as an intraday volatility reference.
The implied intraday range is approximately 45.39 — 49.65 , corresponding to +1.35% / -7.35% .
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 49.50 (1.05% above spot).
Bearish positioning points to downside pressure toward 42.74 (12.75% below spot).
Options flow strength: 0.47 (0–1 scale). ATM Strike: 49.00, Call: 1.11, Put: 0.28, Straddle Cost: 1.39.
Price moves are likely to stay range-bound. The short-term gamma flip is near 46.35 , with intermediate positioning around 46.32 . The mid-term gamma flip remains near 46.32.