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

Analyze the complete FANG 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 FANG.

Latest Data: 2026-08-17 (EDT)

Max Pain Price

190

Exp: 2026-08-21

Gamma Flip

192.39

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.572

Shows put vs call positioning

IV Skew

-4.20

Put–call IV difference

Max Pain Price Volatility

σ = 12.94

high volatility

Confidence 50%

Near-Term Options-Derived Market Structure

BEARISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

The options structure reflects a moderate bearish bias. Downside factors are present but not dominant. 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: 67%

Current DPI is 0.815(bullish). Bullish, 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

The support levels for FANG are at 204.90, 202.81, and 196.86, while the resistance levels are at 207.68, 209.77, and 215.72. The pivot point, a key reference price for traders, is at 190.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 4)

Based on the latest options positioning (DTE 4), the ATM straddle implies a standardized 1.71% 1-day move.

The expected range for the next 4 days is 194.87 — 213.01 , corresponding to +3.26% / -5.54% .

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 216.78 (5.08% above spot).

Bearish positioning points to downside pressure toward 187.40 (9.16% below spot).

Options flow strength: 0.67 (0–1 scale). ATM Strike: 210.00, Call: 1.67, Put: 5.40, Straddle Cost: 7.08.

Price moves are likely to stay range-bound. The short-term gamma flip is near 192.72 , with intermediate positioning around 192.39 . The mid-term gamma flip remains near 192.39.