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

Analyze the complete Z 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 Z.

Latest Data: 2026-08-10 (EDT)

Max Pain Price

37.5

Exp: 2026-08-21

Gamma Flip

33.64

Gamma Flip (≈60 days)

Put/Call OI Ratio

1.574

Shows put vs call positioning

IV Skew

-3.54

Put–call IV difference

Max Pain Price Volatility

σ = 16.16

high volatility

Confidence 88%

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: 80%

Current DPI is -0.142(strong-bearish). Bearish, 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 elevated, implying wider and less stable price swings. Options constraints exert a moderate influence on price behavior. Directional continuation remains uncertain and selective. Structural sensitivity is elevated around the 2026-08-21 options expiry. 100% confidence

The support levels for Z are at 33.24, 32.64, and 28.57, while the resistance levels are at 34.26, 34.86, and 38.93. The pivot point, a key reference price for traders, is at 37.50.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 11)

Based on the latest options positioning (DTE 11), the ATM straddle implies a standardized 2.64% 1-day move.

The expected range for the next 11 days is 32.22 — 38.08 , corresponding to +12.82% / -4.52% .

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 40.89 (21.15% above spot).

Bearish positioning points to downside pressure toward 31.45 (6.81% below spot).

Options flow strength: 0.74 (0–1 scale). ATM Strike: 35.00, Call: 0.62, Put: 2.33, Straddle Cost: 2.95.

Short-term moves may occur, but follow-through is uncertain. The short-term gamma flip is near 38.18 , with intermediate positioning around 33.64 . The mid-term gamma flip remains near 33.64.