KMX Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure
Analyze the complete KMX 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 KMX.
Near-Term Options-Derived Market Structure
BEARISH BIAS
Reflecting options positioning and volatility conditions over the coming sessions.
The options structure indicates a clear bearish tilt. Several major factors align to the downside, suggesting elevated short-term downside risk. 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: 71%
Current DPI is 0.915(neutral). ⏳ Neutral accumulation, DPI neutral, but makers are actively building positions.
Options Terrain Outlook (3-Month)
Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions are elevated, implying wider and less stable price swings. 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
Short-Term Options-Implied Price Range & Flow Structure (DTE: 21)
Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 1.61% 1-day move.
The expected range for the next 21 days is 57.45 — 64.52 , corresponding to +3.89% / -7.50% .
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 65.89 (6.08% above spot).
Bearish positioning points to downside pressure toward 54.48 (12.28% below spot).
Options flow strength: 0.76 (0–1 scale). ATM Strike: 62.50, Call: 2.35, Put: 2.22, Straddle Cost: 4.57.
Price moves are likely to stay range-bound. The short-term gamma flip is near 48.32 , with intermediate positioning around 49.69 . The mid-term gamma flip remains near 49.72.