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: 2026-08-28 (EDT)

Max Pain Price

105

Exp: 2026-09-18

Gamma Flip

86.35

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.740

Shows put vs call positioning

IV Skew

4.48

Put–call IV difference

Max Pain Price Volatility

σ = 10.66

medium 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: 100%

Current DPI is 0.806(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 2026-09-18 options expiry. 100% confidence

The support levels for ZBH are at 100.31, 99.41, and 97.10, while the resistance levels are at 101.51, 102.41, and 104.72. The pivot point, a key reference price for traders, is at 105.00.

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

Based on the latest options positioning (DTE 21), the ATM straddle implies a standardized 1.01% 1-day move.

The expected range for the next 21 days is 91.87 — 104.46 , corresponding to +3.52% / -8.96% .

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 107.03 (6.06% above spot).

Bearish positioning points to downside pressure toward 84.55 (16.21% below spot).

Options flow strength: 0.57 (0–1 scale). ATM Strike: 100.00, Call: 2.75, Put: 1.93, Straddle Cost: 4.67.

Price moves are likely to stay range-bound. The short-term gamma flip is near 86.16 , with intermediate positioning around 86.35 . The mid-term gamma flip remains near 86.35.