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.
Near-Term Options-Derived Market Structure
BULLISH BIAS
Reflecting options positioning and volatility conditions over the coming sessions.
A slight bullish tilt is present, but the overall setup remains largely neutral with limited directional reliability. 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 0.009(neutral). Neutral consolidation, trend and momentum are indistinct. From the current DPI structure, dealers appear largely neutral, suggesting limited willingness to reinforce directional price moves..
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 2026-02-20 options expiry. 100% confidence
Short-Term Options-Implied Price Range & Flow Structure (0DTE · Intraday Reference)
Expiry 2026-02-06 (DTE 0): Pinning structure with suppressed volatility. Option flow bias is bearish (-0.30), pin strength 0.90.
Based on same-day expiring options (0DTE), the ATM straddle implies an 0.19% standardized 1-day equivalent move, serving as an intraday volatility reference.
The implied intraday range is approximately 86.41 — 88.88 , corresponding to +1.54% / -1.29% .
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 89.86 (2.65% above spot).
Bearish positioning points to downside pressure toward 85.61 (2.21% below spot).
Options flow strength: 0.68 (0–1 scale). ATM Strike: 87.50, Call: 0.01, Put: 0.16, Straddle Cost: 0.17.
Short-term moves may occur, but follow-through is uncertain. The short-term gamma flip is near 108.60 , with intermediate positioning around 87.15 . The mid-term gamma flip remains near 87.15.