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

Analyze the complete TPL 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 TPL.

Latest Data: 2026-08-28 (EDT)

Max Pain Price

380

Exp: 2026-09-18

Gamma Flip

456.24

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.212

Shows put vs call positioning

IV Skew

-1.85

Put–call IV difference

Max Pain Price Volatility

σ = 64.66

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

The put-side positioning appears neutral with no notable bearish pressure.

Current DPI is -0.011(neutral). ⏳ Neutral distribution, DPI neutral, but makers are actively shedding positions.

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 2026-10-16 options expiry. 90% confidence

The support levels for TPL are at 355.88, 345.96, and 290.67, while the resistance levels are at 372.88, 382.80, and 438.09. The pivot point, a key reference price for traders, is at 380.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 21)

Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 1.78% 1-day move.

The expected range for the next 21 days is 354.34 — 381.37 , corresponding to +4.66% / -2.75% .

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 390.83 (7.26% above spot).

Bearish positioning points to downside pressure toward 349.69 (4.03% below spot).

Options flow strength: 0.79 (0–1 scale). ATM Strike: 360.00, Call: 17.55, Put: 12.20, Straddle Cost: 29.75.

Price moves may extend once a direction forms. The short-term gamma flip is near 367.14 , with intermediate positioning around 456.24 . The mid-term gamma flip remains near 456.24.