Ticker Options Intelligence

ESS options intelligence

Essex Property Trust Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 43 Market data through 30 Jul 2026 Checked 31 Jul 2026 13:35 · complete available chain

Put-side pressure

Bearish pressure

ESS currently carries bearish options pressure with a 43/100 conviction score. The nearest-chain expected move is 4.6%, with volume/open-interest participation at 0.21.

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

Put-side pressure

Expected move 4.6%

Near-term move context

Activity / OI 0.21

Current volume is quieter versus prior open interest

Put-call 5.21

Put-side skew

Trend fit 49

Options are not fully confirming trend

Weekly backdrop +0.2%

RS 4.7

Expected move 4.6%
Put-call volume 5.21
Volume / OI 0.21
Reference IV 0.21
Max pain 290.00
Underlying 293.46
Nearest expiry 21 Aug 2026
Contracts 232

Research Brief

ESS has a bearish chain read with 43/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 280.08–306.84; The largest call open-interest concentration is 300.00; the largest put concentration is 300.00. The most active strike by current volume is 300.00.

Priced range280.08–306.84
Call concentration300.00
Put concentration300.00
Max pain reference290.00
What would confirm it
  • Price remains weak while put-side concentration persists.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.
  • Options and the weekly trend are not yet giving the same message.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 280.08 to 306.84. Max pain at 290.00 sits inside that range, 1.2% below spot.

Spot Max pain
280.08293.46 ± 13.38306.84
Confirmation level

A close beyond 306.84 or below 280.08 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 43/100

Evidence alignment, not probability

Pressure is 58/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure58 × 42%
+24.3

How strongly activity leans toward calls or puts.

Participation13 × 22%
+2.8

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

Trend agreement49 × 26%
+12.6

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

Volatility33 × 10%
+3.3

The intensity of implied volatility and the priced move.

Reconstructed score43.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 300.00; the largest put concentration is 300.00. The most active strike by current volume is 300.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
170.00-42.1%
0
0
175.00-40.4%
0
1
180.00-38.7%
0
1
185.00-37.0%
0
1
195.00-33.6%
0
1
200.00-31.8%
0
1
210.00-28.4%
0
1
220.00-25.0%
0
1
250.00-14.8%
0
3
260.00-11.4%
0
8
270.00-8.0%
0
8
280.00-4.6%
1
0
290.00-1.2%
399
10
300.002.2%
574
0
310.005.6%
49
0
320.009.0%
182
0
330.0012.5%
3
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

0.94× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

0.21 21 Aug 22d
0.19 18 Sep 50d
0.20 16 Oct 78d
0.22 15 Jan 169d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

240
250
260
270
280
290
300
310
320
330
340
350
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
232 / 232
  • 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

Put-heavy activity

85/100
Primary intent Put-heavy activity

Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.

Flow vs price divergence Bearish flow before price confirmation

Put-side pressure is present before a decisive weekly price breakdown.

Why this matters

Put-heavy activity matters because it connects the options headline to the actual evidence: $279891 of estimated gross traded notional, puts · 46-90 days · otm, and a bearish 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-58
1W price+0.2%
Call premium4%
Put premium96%
Notional split C 4% / P 96% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.21 Volume divided by open interest across the visible chain.
Trend fit 49/100 Agreement between options pressure and Sharemaestro market context.
Event window 4 Aug Matched earnings event is 3 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 Puts · 46-90 days · OTM
Puts · 46-90 days · OTM puts cluster with 360 contracts traded, $259200 estimated gross traded notional, and 93% of visible notional.
$259200
Puts · 46-90 days · ATM puts cluster with 6 contracts traded, $7500 estimated gross traded notional, and 3% of visible notional.
$7500
Calls · 46-90 days · ATM calls cluster with 12 contracts traded, $7060 estimated gross traded notional, and 3% of visible notional.
$7060
Calls · 8-21 days · ATM calls cluster with 36 contracts traded, $3911 estimated gross traded notional, and 1% of visible notional.
$3911
Puts · 91+ days · OTM puts cluster with 2 contracts traded, $1125 estimated gross traded notional, and 0% of visible notional.
$1125

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Event-risk setup

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

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

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
Close293.46
1W+0.2%
RS4.7
Fair value+16.3%
Options pressure-58
Speculation13
Volatility33
Trend fit49

Today Versus Normal

Stored-options context

View history
Expected move 4.6% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 0.21 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 5.21 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.21 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 10:20 Bullish
Pressure 65
Move 5.2%
30 Jul 10:14 Mixed
Pressure 12
Move 5.5%
31 Jul 12:35 Bearish
Pressure -58
Move 4.6%

Strike Map

Where activity is clustering

Full strike map
Strike170.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike175.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike180.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike185.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike190.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike195.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike200.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike210.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts58
Avg IV0.21
Put-call0.03
Expiry18 Sep 2026
Contracts58
Avg IV0.19
Put-call45.75
Expiry16 Oct 2026
Contracts60
Avg IV0.20
Put-call-
Expiry15 Jan 2027
Contracts56
Avg IV0.22
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.09
Put IV0.24
Skew0.15
18 Sep 2026Balanced skew
Call IV0.20
Put IV0.23
Skew0.03
16 Oct 2026Put IV premium
Call IV0.19
Put IV0.25
Skew0.06
15 Jan 2027Put IV premium
Call IV0.18
Put IV0.26
Skew0.08

Contract Tape

Most active contracts

Full contract tape
ContractESS260918P00280000
SidePut
Expiry18 Sep 2026
Strike280.00
Volume360
OI-
IV0.21
ContractESS260821C00300000
SideCall
Expiry21 Aug 2026
Strike300.00
Volume34
OI574
IV0.09
ContractESS260821C00310000
SideCall
Expiry21 Aug 2026
Strike310.00
Volume22
OI49
IV0.14
ContractESS260918C00290000
SideCall
Expiry18 Sep 2026
Strike290.00
Volume8
OI-
IV0.19
ContractESS260918P00290000
SidePut
Expiry18 Sep 2026
Strike290.00
Volume6
OI6
IV0.21
ContractESS261016C00290000
SideCall
Expiry16 Oct 2026
Strike290.00
Volume4
OI14
IV0.19
ContractESS260821C00290000
SideCall
Expiry21 Aug 2026
Strike290.00
Volume2
OI399
IV0.20
ContractESS270115P00230000
SidePut
Expiry15 Jan 2027
Strike230.00
Volume1
OI14
IV0.27