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

Analyze the complete ELAN 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 ELAN.

Latest Data: 2026-08-28 (EDT)

Max Pain Price

Exp: 2026-09-18

Gamma Flip

22.61

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.387

Shows put vs call positioning

IV Skew

-3.37

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 35%

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 0.722(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 2027-01-15 options expiry. 100% confidence

The support levels for ELAN are at 23.94, 23.68, and 22.70, while the resistance levels are at 24.28, 24.54, and 25.52. The pivot point, a key reference price for traders, is at 25.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 21)

Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 1.70% 1-day move.

The expected range for the next 21 days is 22.30 — 25.51 , corresponding to +5.82% / -7.49% .

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 26.60 (10.32% above spot).

Bearish positioning points to downside pressure toward 20.84 (13.55% below spot).

Options flow strength: 0.49 (0–1 scale). ATM Strike: 24.00, Call: 1.02, Put: 0.85, Straddle Cost: 1.88.

Price moves are likely to stay range-bound. The short-term gamma flip is near 22.97 , with intermediate positioning around 22.61 . The mid-term gamma flip remains near 22.61.