JNJ (JNJ) options memo

The Read

JNJ is up 0.47% today at $262.08.

Options traders lean neutral into 2026-08-14, and neutral further out.

A move through $258.58 would change how dealers hedge this stock.

Key numbers

• Spot: $262.08
• Lean: neutral
• Nearest expiry: Fri 8/21
• Implied move: 1.3%
• ATM implied volatility: 25.0%
• Max pain: $255.00
• Pin strike: $280.00
• Gamma flip: $248.87
• Dealer positioning: SHORT GAMMA
• Call wall: $280.00
• Put wall: $257.50
• Put/call open interest: 0.713