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

Analyze the complete WAT 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 WAT.

Latest Data: 2026-08-28 (EDT)

Max Pain Price

410

Exp: 2026-09-18

Gamma Flip

344.40

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.699

Shows put vs call positioning

IV Skew

2.37

Put–call IV difference

Max Pain Price Volatility

σ = 43.47

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

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: 83%

Current DPI is 0.639(bearish). Bearish, momentum neutral or unclear.

Options Terrain Outlook (3-Month)

Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions are elevated, implying wider and less stable price swings. Options constraints exert a moderate influence on price behavior. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-09-18 options expiry. 100% confidence

The support levels for WAT are at 408.40, 401.07, and 375.95, while the resistance levels are at 420.98, 428.31, and 453.43. The pivot point, a key reference price for traders, is at 410.00.

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

Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 1.17% 1-day move.

The expected range for the next 21 days is 393.98 — 420.99 , corresponding to +1.52% / -4.99% .

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 423.75 (2.19% above spot).

Bearish positioning points to downside pressure toward 380.55 (8.23% below spot).

Options flow strength: 0.73 (0–1 scale). ATM Strike: 410.00, Call: 14.40, Put: 7.75, Straddle Cost: 22.15.

Price moves are likely to stay range-bound. The short-term gamma flip is near 344.00 , with intermediate positioning around 344.40 . The mid-term gamma flip remains near 337.11.