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: 2026-08-17 (EDT)

Max Pain Price

230

Exp: 2026-08-21

Gamma Flip

222.28

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.948

Shows put vs call positioning

IV Skew

2.61

Put–call IV difference

Max Pain Price Volatility

σ = 22.80

high 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

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 0.594(strong-bullish). Bullish, momentum neutral or unclear.

Options Terrain Outlook (3-Month)

The market is positioned near a structural transition zone, where options exposure may shift the prevailing trading regime. Volatility conditions are moderately choppy. Price action is strongly influenced by existing options constraints. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-08-21 options expiry. 90% confidence

The support levels for SPG are at 220.03, 218.06, and 213.85, while the resistance levels are at 223.31, 225.28, and 229.49. The pivot point, a key reference price for traders, is at 230.00.

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

Based on the latest options positioning (DTE 4), the ATM straddle implies a standardized 1.09% 1-day move.

The expected range for the next 4 days is 218.77 — 231.32 , corresponding to +4.35% / -1.31% .

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 238.01 (7.37% above spot).

Bearish positioning points to downside pressure toward 217.51 (1.87% below spot).

Options flow strength: 0.64 (0–1 scale). ATM Strike: 220.00, Call: 3.20, Put: 1.65, Straddle Cost: 4.85.

Price moves may extend once a direction forms. The short-term gamma flip is near 242.47 , with intermediate positioning around 222.28 . The mid-term gamma flip remains near 222.28.