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: 2026-02-06 (EDT)

Max Pain Price

270

Exp: 2026-02-20

Gamma Flip

360.00

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.401

Shows put vs call positioning

IV Skew

-8.94

Put–call IV difference

Max Pain Price Volatility

σ = 0.00

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: 62%

Current DPI is 0.316(bullish). Bullish, 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 moderately choppy. Options constraints exert a moderate influence on price behavior. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-05-15 options expiry. 100% confidence

The support levels for WAT are at 377.66, 373.30, and 360.13, while the resistance levels are at 384.92, 389.28, and 402.45. The pivot point, a key reference price for traders, is at 270.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 14)

Based on the latest options positioning (DTE 14), the ATM straddle implies a standardized 1.76% 1-day move.

The expected range for the next 14 days is 311.92 — 392.36 , corresponding to +2.90% / -18.19% .

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 397.79 (4.33% above spot).

Bearish positioning points to downside pressure toward 264.83 (30.54% below spot).

Options flow strength: 0.76 (0–1 scale). ATM Strike: 380.00, Call: 13.30, Put: 11.80, Straddle Cost: 25.10.

Price moves are likely to stay range-bound. The short-term gamma flip is near 337.68 , with intermediate positioning around 360.00 . The mid-term gamma flip remains near 360.00.