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

Analyze the complete ZBH 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 ZBH.

Latest Data: 2026-02-06 (EDT)

Max Pain Price

Exp: 2026-02-20

Gamma Flip

95.49

Gamma Flip (≈60 days)

Put/Call OI Ratio

2.286

Shows put vs call positioning

IV Skew

-4.26

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

Looking only at the put-side activity, there is a bearish directional push. This suggests some traders are actively betting on downside. Confidence: 71%

Current DPI is -0.129(strong-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. Options constraints exert a moderate influence on price behavior. Once a directional move forms, continuation appears relatively easy. Structural sensitivity is elevated around the 2026-03-20 options expiry. 100% confidence

The support levels for ZBH are at 89.10, 88.12, and 85.38, while the resistance levels are at 90.72, 91.70, and 94.44. The pivot point, a key reference price for traders, is at 75.00.

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

Based on the latest options positioning (DTE 14), the ATM straddle implies a standardized 1.89% 1-day move.

The expected range for the next 14 days is 85.13 — 91.91 , corresponding to +2.22% / -5.32% .

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 92.76 (3.17% above spot).

Bearish positioning points to downside pressure toward 82.05 (8.74% below spot).

Options flow strength: 0.65 (0–1 scale). ATM Strike: 90.00, Call: 3.25, Put: 3.10, Straddle Cost: 6.35.

Price moves may extend once a direction forms. The short-term gamma flip is near 97.45 , with intermediate positioning around 95.49 . The mid-term gamma flip remains near 95.49.