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

Analyze the complete EW 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 EW.

Latest Data: 2026-02-06 (EDT)

Max Pain Price

82.5

Exp: 2026-02-20

Gamma Flip

84.83

Gamma Flip (≈60 days)

Put/Call OI Ratio

2.355

Shows put vs call positioning

IV Skew

-8.75

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 85%

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

Looking only at the put-side activity, there is a bearish directional push. This suggests some traders are actively betting on downside. Confidence: 71%

Current DPI is -0.556(strong-bearish). Bearish, 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. Price action is strongly influenced by existing options constraints. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-02-20 options expiry. 90% confidence

The support levels for EW are at 78.35, 77.82, and 76.54, while the resistance levels are at 79.07, 79.60, and 80.88. The pivot point, a key reference price for traders, is at 82.50.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 14)

Based on the latest options positioning (DTE 14), the ATM straddle implies a standardized 2.00% 1-day move.

The expected range for the next 14 days is 76.57 — 83.81 , corresponding to +6.47% / -2.72% .

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 86.71 (10.17% above spot).

Bearish positioning points to downside pressure toward 75.65 (3.88% below spot).

Options flow strength: 0.82 (0–1 scale). ATM Strike: 77.50, Call: 3.60, Put: 2.30, Straddle Cost: 5.90.

Price moves may extend once a direction forms. The short-term gamma flip is near 85.04 , with intermediate positioning around 84.83 . The mid-term gamma flip remains near 84.83.