NLY Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure
Analyze the complete NLY 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 NLY.
Near-Term Options-Derived Market Structure
BULLISH BIAS
Reflecting options positioning and volatility conditions over the coming sessions.
The options market shows a strong bullish alignment. Multiple key factors point firmly to the upside, supported by dealer flows and positioning. 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: 67%
Current DPI is -0.138(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 2026-02-20 options expiry. 100% confidence
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 neutral (-0.10), pin strength 0.90.
Based on same-day expiring options (0DTE), the ATM straddle implies an 1.03% standardized 1-day equivalent move, serving as an intraday volatility reference.
The implied intraday range is approximately 21.91 — 23.20 , corresponding to +1.55% / -4.13% .
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 23.40 (2.43% above spot).
Bearish positioning points to downside pressure toward 21.16 (7.42% below spot).
Options flow strength: 0.49 (0–1 scale). ATM Strike: 23.00, Call: 0.03, Put: 0.21, Straddle Cost: 0.24.
Market signals are mixed and less reliable. The short-term gamma flip is near 17.00 , with intermediate positioning around 23.32 . The mid-term gamma flip remains near 23.28.