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

Analyze the complete SHEL 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 SHEL.

Latest Data: 2026-08-17 (EDT)

Max Pain Price

Exp: 2026-08-21

Gamma Flip

83.60

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.517

Shows put vs call positioning

IV Skew

0.19

Put–call IV difference

Max Pain Price Volatility

σ = 5.49

medium 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 0.851(bullish). Bullish, momentum neutral or unclear.

Options Terrain Outlook (3-Month)

Options positioning suggests a structurally constrained trading environment, where price movements are more likely to stall or mean-revert rather than extend. Volatility conditions are moderately choppy. Price action is strongly influenced by existing options constraints. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-08-21 options expiry. 100% confidence

The support levels for SHEL are at 91.28, 90.78, and 89.89, while the resistance levels are at 91.96, 92.46, and 93.35. The pivot point, a key reference price for traders, is at 95.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 4)

Based on the latest options positioning (DTE 4), the ATM straddle implies a standardized 1.06% 1-day move.

The expected range for the next 4 days is 87.40 — 93.22 , corresponding to +1.74% / -4.60% .

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 94.00 (2.59% above spot).

Bearish positioning points to downside pressure toward 84.75 (7.49% below spot).

Options flow strength: 0.77 (0–1 scale). ATM Strike: 92.00, Call: 0.82, Put: 1.12, Straddle Cost: 1.95.

Price moves are likely to stay range-bound. The short-term gamma flip is near 89.04 , with intermediate positioning around 83.60 . The mid-term gamma flip remains near 83.60.