Ticker Options Intelligence

HESM options intelligence

Hess Midstream Partners LP options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 47 Market data through 30 Jul 2026 Checked 31 Jul 2026 12:50 · complete available chain

Call-side pressure

Bullish pressure

HESM currently carries bullish options pressure with a 47/100 conviction score. The nearest-chain expected move is 5.9%, with volume/open-interest participation at 0.01.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 5.9%

Near-term move context

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 0.01

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop +0.7%

RS 4.4

Expected move 5.9%
Put-call volume 0.01
Volume / OI 0.01
Reference IV 0.29
Max pain 37.00
Underlying 40.64
Nearest expiry 21 Aug 2026
Contracts 160

Research Brief

HESM has a bullish chain read with 47/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 38.24–43.04; The largest call open-interest concentration is 39.00; the largest put concentration is 33.00. The most active strike by current volume is 39.00.

Priced range38.24–43.04
Call concentration39.00
Put concentration33.00
Max pain reference37.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • Options and the weekly trend are not yet giving the same message.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 38.24 to 43.04. Max pain at 37.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
38.2440.64 ± 2.4043.04
Confirmation level

A close beyond 43.04 or below 38.24 at the 21 Aug expiry would exceed the move currently priced by this chain.

Important limitation

The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.

Score Construction

Why conviction is 47/100

Evidence alignment, not probability

Pressure is 100/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation1 × 22%
+0.3

Volume relative to existing open interest and contract-level activity.

Trend agreement0 × 26%
+0.0

How closely the chain read agrees with the underlying trend backdrop.

Volatility44 × 10%
+4.4

The intensity of implied volatility and the priced move.

Reconstructed score46.7Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 39.00; the largest put concentration is 33.00. The most active strike by current volume is 39.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
15
25.00-38.5%
36
11
28.00-31.1%
14
41
31.00-23.7%
0
72
32.00-21.3%
2
1195
33.00-18.8%
8
66
34.00-16.3%
19
479
35.00-13.9%
98
212
36.00-11.4%
20
149
37.00-9.0%
803
335
38.00-6.5%
123
152
39.00-4.0%
2496
55
40.00-1.6%
626
58
41.000.9%
803
3
42.003.3%
200
2
43.005.8%
546
0
44.008.3%
85
1
45.0010.7%
191
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.14× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.29 21 Aug 22d
0.25 18 Sep 50d
0.25 20 Nov 113d
0.25 19 Feb 204d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

Forward validation is building. The earliest eligible stored read expires 21 Aug 2026; its result will appear after the matched closing reference is stored.

Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
  • Versioned calculationv2 observations only
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
30 Jul 2026
Calculation
v2.0
Contracts
160 / 160
  • No material coverage gap was detected in the retained chain.

Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.

Options Intent Radar

Earnings/event positioning

79/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $21935 of estimated gross traded notional, calls · 8-21 days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+100
1W price+0.7%
Call premium99%
Put premium1%
Notional split C 99% / P 1% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.01 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 3 Aug Matched earnings event is 2 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 8-21 days · ITM
Calls · 8-21 days · ITM calls cluster with 72 contracts traded, $15520 estimated gross traded notional, and 71% of visible notional.
$15520
Calls · 8-21 days · ATM calls cluster with 37 contracts traded, $3192 estimated gross traded notional, and 15% of visible notional.
$3192
Calls · 91+ days · OTM calls cluster with 13 contracts traded, $1950 estimated gross traded notional, and 9% of visible notional.
$1950
Calls · 91+ days · ATM calls cluster with 4 contracts traded, $570 estimated gross traded notional, and 3% of visible notional.
$570
Calls · 91+ days · ITM calls cluster with 1 contracts traded, $365 estimated gross traded notional, and 2% of visible notional.
$365

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Warning Bullish pressure over fair value

Call pressure is building while the stock sits above Sharemaestro fair value.

Activity Anomaly

Warming up

-

2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 2 completed sessions

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close40.64
1W+0.7%
RS4.4
Fair value+24.9%
Options pressure100
Speculation1
Volatility44
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 5.9% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 0.29 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 0.01 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.01 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:31 Bullish
Pressure 98
Move 6.2%
30 Jul 10:30 Bullish
Pressure 21
Move 6.2%
31 Jul 11:50 Bullish
Pressure 100
Move 5.9%

Strike Map

Where activity is clustering

Full strike map
Strike25.00
Calls · V 1 · OI 36
Puts · V 0 · OI 15
Strike27.00
Calls · V 0 · OI 7
Puts · V 0 · OI 15
Strike28.00
Calls · V 0 · OI 14
Puts · V 0 · OI 11
Strike29.00
Calls · V 0 · OI 1
Puts · V 0 · OI 4
Strike30.00
Calls · V 0 · OI 1
Puts · V 0 · OI 6
Strike31.00
Calls · V 0 · OI 0
Puts · V 0 · OI 41
Strike32.00
Calls · V 0 · OI 2
Puts · V 0 · OI 72
Strike33.00
Calls · V 0 · OI 8
Puts · V 0 · OI 1195

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts46
Avg IV0.29
Put-call-
Expiry18 Sep 2026
Contracts34
Avg IV0.25
Put-call-
Expiry20 Nov 2026
Contracts40
Avg IV0.25
Put-call-
Expiry19 Feb 2027
Contracts40
Avg IV0.25
Put-call0.08

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.21
Put IV0.37
Skew0.16
18 Sep 2026Put IV premium
Call IV0.18
Put IV0.35
Skew0.17
20 Nov 2026Put IV premium
Call IV0.19
Put IV0.33
Skew0.14
19 Feb 2027Put IV premium
Call IV0.18
Put IV0.34
Skew0.16

Contract Tape

Most active contracts

Full contract tape
ContractHESM260821C00039000
SideCall
Expiry21 Aug 2026
Strike39.00
Volume47
OI2496
IV0.16
ContractHESM260821C00040000
SideCall
Expiry21 Aug 2026
Strike40.00
Volume36
OI626
IV0.17
ContractHESM260821C00037000
SideCall
Expiry21 Aug 2026
Strike37.00
Volume13
OI803
IV0.01
ContractHESM270219C00042000
SideCall
Expiry19 Feb 2027
Strike42.00
Volume13
OI86
IV0.16
ContractHESM260821C00038000
SideCall
Expiry21 Aug 2026
Strike38.00
Volume11
OI123
IV0.01
ContractHESM261120C00041000
SideCall
Expiry20 Nov 2026
Strike41.00
Volume4
OI194
IV0.17
ContractHESM260821C00041000
SideCall
Expiry21 Aug 2026
Strike41.00
Volume1
OI803
IV0.17
ContractHESM260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume1
OI36
IV1.17