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.
Near-Term Options-Derived Market Structure
BULLISH BIAS
Reflecting options positioning and volatility conditions over the coming sessions.
The options data shows a moderate bullish tilt. There is some directional support, though momentum remains limited. 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 -0.038(neutral). Neutral consolidation, trend and momentum are indistinct. From the current DPI structure, dealers appear largely neutral, suggesting limited willingness to reinforce directional price moves..
Options Terrain Outlook (3-Month)
Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions remain relatively smooth. Options constraints exert a moderate influence on price behavior. Directional continuation remains uncertain and selective. Structural sensitivity is elevated around the 2026-04-17 options expiry. 100% confidence
Short-Term Options-Implied Price Range & Flow Structure (DTE: 23)
Based on the latest options positioning (DTE 23), the ATM straddle implies a standardized 1.30% 1-day move.
The expected range for the next 23 days is 85.84 — 90.57 , corresponding to +3.34% / -2.06% .
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 92.56 (5.61% above spot).
Bearish positioning points to downside pressure toward 84.84 (3.20% below spot).
Options flow strength: 0.56 (0–1 scale). ATM Strike: 90.00, Call: 1.57, Put: 3.90, Straddle Cost: 5.48.
Price moves may extend once a direction forms. The short-term gamma flip is near 88.50 , with intermediate positioning around 88.73 . The mid-term gamma flip remains near 87.80.