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

Analyze the complete SNAP 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 SNAP.

Latest Data: 2026-02-06 (EDT)

Max Pain Price

6.5

Exp: 2026-02-06

Gamma Flip

5.22

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.368

Shows put vs call positioning

IV Skew

-7.46

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 85%

Near-Term Options-Derived Market Structure

NEUTRAL OUTLOOK

Reflecting options positioning and volatility conditions over the coming sessions.

The options structure reflects a high-confidence neutral environment. Dealer positioning and volatility suppression suggest a stable range-bound setup rather than a directional move. 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 -0.684(bullish). Bullish, 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 2026-02-13 options expiry. 100% confidence

The support levels for SNAP are at 5.12, 4.98, and 4.05, while the resistance levels are at 5.32, 5.46, and 6.39. The pivot point, a key reference price for traders, is at 6.50.

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 0.70.

Based on same-day expiring options (0DTE), the ATM straddle implies an 4.31% standardized 1-day equivalent move, serving as an intraday volatility reference.

The implied intraday range is approximately 4.91 — 5.90 , corresponding to +13.06% / -5.98% .

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 6.37 (22.06% above spot).

Bearish positioning points to downside pressure toward 4.75 (8.98% below spot).

Options flow strength: 0.59 (0–1 scale). ATM Strike: 5.00, Call: 0.22, Put: 0.01, Straddle Cost: 0.23.

Market signals are mixed and less reliable. No short-term gamma flip is observed , with intermediate positioning around 5.22 . The mid-term gamma flip remains near 5.24.