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

Analyze the complete TLT 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 TLT.

Latest Data: 2026-03-25 (EDT)

Max Pain Price

86.5

Exp: 2026-03-25

Gamma Flip

85.90

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.660

Shows put vs call positioning

IV Skew

2.30

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 75%

Near-Term Options-Derived Market Structure

BULLISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

The options market shows a strong bullish alignment. Multiple key factors point firmly to the upside, supported by dealer flows and positioning. 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 -0.135(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. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-03-27 options expiry. 100% confidence

The support levels for TLT are at 86.65, 86.37, and 86.04, while the resistance levels are at 87.03, 87.31, and 87.64. The pivot point, a key reference price for traders, is at 86.50.

Short-Term Options-Implied Price Range & Flow Structure (0DTE · Intraday Reference)

Expiry 2026-03-25 (DTE 0): Pinning structure with suppressed volatility. Option flow bias is neutral (-0.20), pin strength 0.90.

Based on same-day expiring options (0DTE), the ATM straddle implies an 0.39% standardized 1-day equivalent move, serving as an intraday volatility reference.

The implied intraday range is approximately 85.27 — 88.43 , corresponding to +1.83% / -1.81% .

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 89.56 (3.13% above spot).

Bearish positioning points to downside pressure toward 84.15 (3.10% below spot).

Options flow strength: 0.64 (0–1 scale). ATM Strike: 87.00, Call: 0.06, Put: 0.28, Straddle Cost: 0.34.

Short-term moves may occur, but follow-through is uncertain. The short-term gamma flip is near 130.31 , with intermediate positioning around 85.90 . The mid-term gamma flip remains near 85.90.