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

Analyze the complete NTES 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 NTES.

Latest Data: 2026-10-01 (EDT)

Max Pain Price

125

Exp: 2026-10-16

Gamma Flip

116.01

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.188

Shows put vs call positioning

IV Skew

-4.78

Put–call IV difference

Max Pain Price Volatility

σ = 16.92

high volatility

Confidence 52%

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: 62%

Current DPI is 0.268(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 2026-10-16 options expiry. 100% confidence

The support levels for NTES are at 119.29, 117.71, and 113.82, while the resistance levels are at 121.93, 123.51, and 127.40. The pivot point, a key reference price for traders, is at 125.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 15)

Based on the latest options positioning (DTE 15), the ATM straddle implies a standardized 1.32% 1-day move.

The expected range for the next 15 days is 119.10 — 124.02 , corresponding to +2.83% / -1.25% .

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 126.04 (4.50% above spot).

Bearish positioning points to downside pressure toward 118.60 (1.67% below spot).

Options flow strength: 0.66 (0–1 scale). ATM Strike: 120.00, Call: 3.70, Put: 2.45, Straddle Cost: 6.15.

Price moves are likely to stay range-bound. The short-term gamma flip is near 116.14 , with intermediate positioning around 116.01 . The mid-term gamma flip remains near 117.79.