SCHW (SCHW) options memo

The Read

SCHW is up 0.36% today at $107.99.

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

A move through $109.35 would change how dealers hedge this stock.

Key numbers

• Spot: $107.99
• Lean: neutral
• Nearest expiry: Fri 9/25
• Implied move: 1.7%
• ATM implied volatility: 33.2%
• Max pain: $104.00
• Pin strike: $100.00
• Gamma flip: $85.00
• Dealer positioning: LONG GAMMA
• Call wall: $102.00
• Put wall: $100.00
• Put/call open interest: 2.308