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

Analyze the complete SPG 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 SPG.

Latest Data: 2026-03-25 (EDT)

Max Pain Price

185

Exp: 2026-04-17

Gamma Flip

190.40

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.320

Shows put vs call positioning

IV Skew

-1.76

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 50%

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

Looking only at the put-side activity, there is a bearish directional push. This suggests some traders are actively betting on downside. Confidence: 60%

Current DPI is -0.194(strong-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 elevated, implying wider and less stable price swings. Options constraints exert a moderate influence on price behavior. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-04-17 options expiry. 100% confidence

The support levels for SPG are at 180.31, 178.43, and 174.04, while the resistance levels are at 182.83, 184.71, and 189.10. The pivot point, a key reference price for traders, is at 185.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 23)

Based on the latest options positioning (DTE 23), the ATM straddle implies a standardized 1.10% 1-day move.

The expected range for the next 23 days is 175.94 — 186.90 , corresponding to +2.94% / -3.10% .

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 189.97 (4.63% above spot).

Bearish positioning points to downside pressure toward 172.66 (4.90% below spot).

Options flow strength: 0.76 (0–1 scale). ATM Strike: 180.00, Call: 5.95, Put: 3.65, Straddle Cost: 9.60.

Price moves may extend once a direction forms. The short-term gamma flip is near 190.47 , with intermediate positioning around 190.40 . The mid-term gamma flip remains near 189.99.