Options · COP

GEX × Max Pain for COP

AI-generated plain-English read of gex × max pain for COP. Updated daily.

Amplifier regime around $137.41 — moves get accelerated. Watch for any trigger; the structure won't dampen it.

What will probably happen

Short-term: moves get amplified. Expect bigger swings than the news warrants.
Longer-dated OI is positioned for settlement at $105.00 (-24% from here) — gravitational pull down over weeks-to-months.

If you HOLD this stock: Amplifier regime — drops will be sharper than the news warrants. Consider a small protective put if you're sensitive to drawdowns.
If you TRADE this stock (no options): No clean directional setup from the structure. Wait for an external trigger (earnings, sector flow, news) before sizing.
If you trade OPTIONS: No edge from the structure alone — premium is fairly priced for the regime. Wait for tighter convergence or a clearer directional setup.

magnets agree on direction but spread is wide; 1 data-quality caveat(s)

Technical details

Term: Term structure: max-gamma falls from $137.00 (front) to $100.00 (longest-dated); max-pain drops from $140.00 to $105.00; the flip point recedes from spot in longer-dated rows (more damper buffer).
Regime: Net GEX is negative ($-218.9K) with spot below the flip at $105.00 — dealers are net short gamma, hedging AMPLIFIES moves in either direction.
Structure: Spot $137.41; front-week magnet at $137.00 (max-gamma) and $140.00 (max-pain).
Convergence: Same-side bias but loose: max-gamma at $137.00, max-pain at $140.00. The magnets agree on direction but disagree on magnitude — directional conviction is weaker than a tight convergence.

One mid-curve expiration carries >5× the front-week dollar GEX — single-position concentration risk; signal is more vulnerable to unwinds.