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: 2026-08-17 (EDT)

Max Pain Price

42.5

Exp: 2026-08-21

Gamma Flip

40.65

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.118

Shows put vs call positioning

IV Skew

-1.44

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

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 -0.038(strong-bearish). Bearish, 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 TAP are at 40.49, 40.11, and 38.92, while the resistance levels are at 40.99, 41.37, and 42.56. The pivot point, a key reference price for traders, is at 42.50.

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

Based on the latest options positioning (DTE 4), the ATM straddle implies a standardized 1.53% 1-day move.

The expected range for the next 4 days is 39.93 — 42.96 , corresponding to +5.45% / -1.99% .

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 44.60 (9.47% above spot).

Bearish positioning points to downside pressure toward 39.53 (2.96% below spot).

Options flow strength: 0.55 (0–1 scale). ATM Strike: 40.00, Call: 1.02, Put: 0.23, Straddle Cost: 1.25.

Price moves are likely to stay range-bound. The short-term gamma flip is near 38.62 , with intermediate positioning around 40.65 . The mid-term gamma flip remains near 40.65.