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

Analyze the complete PSX 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 PSX.

Latest Data: 2026-03-25 (EDT)

Max Pain Price

180

Exp: 2026-03-27

Gamma Flip

145.62

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.401

Shows put vs call positioning

IV Skew

-1.47

Put–call IV difference

Max Pain Price Volatility

σ = 13.33

high volatility

Confidence 35%

Near-Term Options-Derived Market Structure

BEARISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

A slight bearish tilt is visible, though the signal is weak and insufficient for a strong directional call. 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: 100%

Current DPI is 0.94(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 2026-03-27 options expiry. 100% confidence

The support levels for PSX are at 179.39, 176.54, and 168.09, while the resistance levels are at 183.19, 186.04, and 194.49. The pivot point, a key reference price for traders, is at 180.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 2)

Based on the latest options positioning (DTE 2), the ATM straddle implies a standardized 1.95% 1-day move.

The expected range for the next 2 days is 176.11 — 184.43 , corresponding to +1.73% / -2.86% .

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 185.38 (2.26% above spot).

Bearish positioning points to downside pressure toward 173.51 (4.29% below spot).

Options flow strength: 0.64 (0–1 scale). ATM Strike: 182.50, Call: 1.83, Put: 3.17, Straddle Cost: 5.00.

Price moves are likely to stay range-bound. The short-term gamma flip is near 144.41 , with intermediate positioning around 145.62 . The mid-term gamma flip remains near 143.46.