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

Analyze the complete IEF 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 IEF.

Latest Data: 2026-02-06 (EDT)

Max Pain Price

94.5

Exp: 2026-02-06

Gamma Flip

N/A

Gamma Flip (≈60 days)

Put/Call OI Ratio

3.189

Shows put vs call positioning

IV Skew

-1.31

Put–call IV difference

Max Pain Price Volatility

σ = 0.00

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: 60%

Current DPI is -0.131(neutral). ⏳ Neutral distribution, DPI neutral, but makers are actively shedding positions.

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. Structural constraints from options positioning are relatively light. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-03-20 options expiry. 100% confidence

The support levels for IEF are at 95.42, 94.64, and 93.74, while the resistance levels are at 96.72, 97.50, and 98.40. The pivot point, a key reference price for traders, is at 94.50.

Short-Term Options-Implied Price Range & Flow Structure (0DTE · Intraday Reference)

Expiry 2026-02-06 (DTE 0): Pinning structure with suppressed volatility. Option flow bias is bullish (0.30), pin strength 0.90.

Based on same-day expiring options (0DTE), the ATM straddle implies an 0.10% standardized 1-day equivalent move, serving as an intraday volatility reference.

The implied intraday range is approximately 95.37 — 97.72 , corresponding to +1.72% / -0.73% .

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 99.29 (3.36% above spot).

Bearish positioning points to downside pressure toward 94.74 (1.38% below spot).

Options flow strength: 0.43 (0–1 scale). ATM Strike: 96.00, Call: 0.03, Put: 0.07, Straddle Cost: 0.10.

Price moves may extend once a direction forms. The short-term gamma flip is near 96.47 . The mid-term gamma flip remains near 99.83.