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

Analyze the complete TAP 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 TAP.

Latest Data: 2026-10-01 (EDT)

Max Pain Price

Exp: 2026-10-16

Gamma Flip

38.33

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.228

Shows put vs call positioning

IV Skew

2.30

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: 60%

Current DPI is -0.537(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. Options constraints exert a moderate influence on price behavior. Directional continuation remains uncertain and selective. Structural sensitivity is elevated around the 2026-10-16 options expiry. 100% confidence

The support levels for TAP are at 36.91, 36.61, and 35.79, while the resistance levels are at 37.31, 37.61, and 38.43. The pivot point, a key reference price for traders, is at 40.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 15)

Based on the latest options positioning (DTE 15), the ATM straddle implies a standardized 1.29% 1-day move.

The expected range for the next 15 days is 35.48 — 39.79 , corresponding to +7.23% / -4.38% .

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 41.81 (12.68% above spot).

Bearish positioning points to downside pressure toward 34.35 (7.45% below spot).

Options flow strength: 0.60 (0–1 scale). ATM Strike: 37.50, Call: 0.72, Put: 1.12, Straddle Cost: 1.85.

Price moves may extend once a direction forms. The short-term gamma flip is near 38.37 , with intermediate positioning around 38.33 . The mid-term gamma flip remains near 38.33.