›››
Loading...
Loading...
Walt Disney Company (The) — Where open interest creates price support and resistance
Walt Disney Company (The) (DIS) operates in the Communication Services sector and has actively traded listed options. Open interest concentrates at the $95 put wall (20.4K contracts) and $105 call wall (12.5K contracts) — 1.7% below and 8.7% above spot. Dealer hedging at these levels amplifies moves rather than containing them — wall boundaries are less reliable. Wider spreads or defined-risk setups may be more appropriate in this gamma regime. See Strategy Builder for trade setups.
Where options dealers' hedging flows create support and resistance — max pain at $100.
These levels show where price may find support or resistance based on open interest positioning. Large put walls can act as magnets; call walls can cap upside.
Use wall levels to pick strikes — sell puts near put walls, sell calls near call walls.
Wall = Strike with highest open interest concentration across expirationsOpen interest by strike, gamma exposure (GEX) profile, max pain calculation
ORATS open interest and gamma data, updated daily
Walls are based on current OI positioning and can shift as traders open/close positions. GEX assumes most OI is dealer-held — retail-heavy OI produces less hedging flow. Treat as context, not prediction.
Walls from nearest liquid expiry — these reflect short-term hedging activity and may not represent longer-term positioning.
OI change tracker (1-day), wall strength score, and GEX trend chart — in active development.
This data is free for all users. No paywall — just not built yet.
Quantitative screening, not investment advice. Verify with your broker. Disclaimer
Walt Disney Company (The)'s current options landscape shows put support concentrated at $95 (20.4K contracts) with call resistance at $105 (12.5K). This creates a $95–$105 trading corridor that dealer hedging activity naturally reinforces. Compare this wall-to-wall range with the Expected Move to see how volatility-based ranges align with open interest boundaries.
Walt Disney Company (The)'s gamma exposure has turned negative (-1.5B), indicating that dealer hedging is now amplifying price moves rather than dampening them. When GEX is negative, dealers must sell into declines and buy into rallies — the opposite of the supportive mean-reverting flow that premium sellers prefer. The GEX flip point at $98.00 is the level where this regime would reverse. Until price reclaims that level, premium sellers should use defined-risk strategies (credit spreads over naked positions) and consider reducing position sizes to account for the elevated move amplification.
Walt Disney Company (The) at $96.61 is approaching its primary put wall at $95, where 20.4K contracts of put open interest create concentrated dealer support. When price tests a strong put wall, dealers who sold those puts must buy shares to hedge — this buying pressure often creates bounces. For premium sellers, this proximity to support can be an opportunity: selling puts at or slightly below the wall level means the trade has both technical support and dealer flow support behind it.
Walt Disney Company (The)'s strongest put wall (support) is at $95 with 20.4K open interest contracts, and the primary call wall (resistance) is at $105 with 12.5K contracts. This creates a trading range of $95–$105. Put positioning is heavier, suggesting stronger downside protection from dealer hedging.
Open interest walls represent concentrations of options positions at specific strikes. When dealers hold these positions, they must hedge by buying or selling shares as price approaches wall levels, creating natural support (put walls) and resistance (call walls). Walt Disney Company (The)'s gamma exposure is currently negative, which means dealer hedging can actually amplify moves through wall levels rather than defending them. In negative GEX environments, walls are less reliable as support/resistance, so premium sellers should use defined-risk strategies.
Walt Disney Company (The)'s net gamma exposure is -1.5B, meaning dealers are net short gamma and must hedge in the same direction as price movement — selling into declines and buying into rallies. This amplifies volatility rather than dampening it. The GEX flip point at $98.00 is where this dynamic reverses. Negative GEX environments typically produce larger daily moves, which is unfavorable for premium sellers. Consider using credit spreads instead of naked positions, or wait for GEX to turn positive before adding new short premium exposure.
Walt Disney Company (The)'s primary put wall at $95 is being tested. At 20.4K contracts, this wall is moderate — it provides some support, but may not withstand strong selling pressure from fundamental catalysts or sector-wide moves. However, negative gamma exposure means dealer hedging may actually accelerate a break below this level.
With negative gamma exposure, favor defined-risk credit spreads over naked positions — place short strikes at wall levels but use wings to cap risk in case walls break. Wall data is most useful for strike selection — placing short strikes at or outside major open interest levels means your trade has dealer hedging flows working in your favor. Monitor daily for wall migration as open interest shifts.
Walt Disney Company (The)'s put/call OI ratio of 1.63x indicates heavier positioning on the downside. This could reflect institutional hedging (fund managers buying puts for portfolio protection), elevated demand for downside insurance, or market-maker inventory from heavy put selling by retail traders. For premium sellers, put-heavy OI is generally favorable — it means more dealer support below the current price, creating stronger floors. However, if this hedge demand is driven by a genuine fundamental concern, the protection may be warranted.