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

Analyze the complete WM 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 WM.

Latest Data: 2026-08-28 (EDT)

Max Pain Price

220

Exp: 2026-09-18

Gamma Flip

229.38

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.061

Shows put vs call positioning

IV Skew

-4.93

Put–call IV difference

Max Pain Price Volatility

σ = 23.76

high 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 -0.444(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. Price action is strongly influenced by existing options constraints. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-09-18 options expiry. 90% confidence

The support levels for WM are at 218.02, 216.05, and 211.87, while the resistance levels are at 221.30, 223.27, and 227.45. The pivot point, a key reference price for traders, is at 220.00.

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

Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 0.73% 1-day move.

The expected range for the next 21 days is 212.60 — 226.99 , corresponding to +3.34% / -3.21% .

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 231.72 (5.49% above spot).

Bearish positioning points to downside pressure toward 208.07 (5.27% below spot).

Options flow strength: 0.74 (0–1 scale). ATM Strike: 220.00, Call: 3.35, Put: 4.00, Straddle Cost: 7.35.

Price moves may extend once a direction forms. The short-term gamma flip is near 230.02 , with intermediate positioning around 229.38 . The mid-term gamma flip remains near 229.38.