Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
GLPI options intelligence
Gaming & Leisure Properties options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
52
Market data through 31 Jul 2026
Checked 1 Aug 2026 04:38 · complete available chain
Put-side pressure
Bearish pressure
GLPI currently carries bearish options pressure with a 52/100 conviction score. The nearest-chain expected move is 5.6%, with volume/open-interest participation at 0.01.
Expected move
5.6%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
5.12
Put-side skew
Trend fit
76
Options agree with trend context
Weekly backdrop
-0.8%
RS -7.9
Expected move
5.6%
Put-call volume
5.13
Volume / OI
0.01
Reference IV
0.21
Max pain
45.00
Underlying
45.17
Nearest expiry
21 Aug 2026
Contracts
120
Research Brief
GLPI has a bearish chain read with 52/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 42.64–47.70; The largest call open-interest concentration is 47.50; the largest put concentration is 42.50. The most active strike by current volume is 42.50.
Priced range42.64–47.70
Call concentration47.50
Put concentration42.50
Max pain reference45.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 42.64 to 47.70. Max pain at 45.00 sits inside that range, 0.4% below spot.
Spot
Max pain
42.6445.17 ± 2.5347.70
Confirmation level
A close beyond 47.70 or below 42.64 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 52/100
Pressure is 59/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure59 × 42%
+24.9
How strongly activity leans toward calls or puts.
Participation16 × 22%
+3.5
Volume relative to existing open interest and contract-level activity.
Trend agreement76 × 26%
+19.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility37 × 10%
+3.7
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 47.50; the largest put concentration is 42.50. The most active strike by current volume is 42.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
25.00-44.7%
0
0
27.50-39.1%
0
0
30.00-33.6%
0
0
32.50-28.0%
0
0
35.00-22.5%
0
0
37.50-17.0%
0
26
40.00-11.4%
5
435
42.50-5.9%
1
190
45.00-0.4%
267
6
47.505.2%
858
1
50.0010.7%
166
0
52.5016.2%
0
0
55.0021.8%
0
0
57.5027.3%
0
0
60.0032.8%
0
0
65.0043.9%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.21
21 Aug
21d
0.25
18 Sep
49d
0.25
16 Oct
77d
0.26
15 Jan
168d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
38
40
43
45
48
50
53
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 120 / 120
- 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
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Put-side pressure is present before a decisive weekly price breakdown.
Put-heavy activity matters because it connects the options headline to the actual evidence: $12396 of estimated gross traded notional, puts · 91+ days · atm, 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-59
1W price-0.8%
Call premium8%
Put premium92%
Notional split
C 8% / P 92%
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
76/100
Agreement between options pressure and Sharemaestro market context.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · ATM
puts cluster with 24 contracts traded, $9180 estimated gross traded notional, and 74% of visible notional.
$9180
Puts · 8-21 days · ITM
puts cluster with 2 contracts traded, $1100 estimated gross traded notional, and 9% of visible notional.
$1100
Puts · 46-90 days · OTM
puts cluster with 5 contracts traded, $488 estimated gross traded notional, and 4% of visible notional.
$488
Calls · 46-90 days · ATM
calls cluster with 3 contracts traded, $390 estimated gross traded notional, and 3% of visible notional.
$390
Calls · 91+ days · ITM
calls cluster with 1 contracts traded, $360 estimated gross traded notional, and 3% of visible notional.
$360
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 3 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close44.79
1W-0.8%
RS-7.9
Fair value+5.0%
Options pressure-59
Speculation16
Volatility37
Trend fit76
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:23
Bullish
Pressure 92
Move 5.3%
30 Jul 10:20
Mixed
Pressure 8
Move 5.6%
31 Jul 10:10
Bearish
Pressure -51
Move 5.5%
31 Jul 16:54
Bullish
Pressure 54
Move 6.3%
31 Jul 21:11
Bullish
Pressure 54
Move 5.6%
1 Aug 03:38
Bearish
Pressure -59
Move 5.6%
Strike Map
Where activity is clustering
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike27.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike32.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike37.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 5
Puts · V 0 · OI 26
Strike42.50
Calls · V 0 · OI 1
Puts · V 6 · OI 435
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts32
Avg IV0.21
Put-call10.00
Expiry18 Sep 2026
Contracts26
Avg IV0.25
Put-call0.75
Expiry16 Oct 2026
Contracts32
Avg IV0.25
Put-call3.00
Expiry15 Jan 2027
Contracts30
Avg IV0.26
Put-call12.50
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.26
Put IV0.25
Skew-0.01
18 Sep 2026Balanced skew
Call IV0.25
Put IV0.28
Skew0.03
16 Oct 2026Put IV premium
Call IV0.17
Put IV0.27
Skew0.10
15 Jan 2027Put IV premium
Call IV0.16
Put IV0.30
Skew0.14
Contract Tape
Most active contracts
ContractGLPI270115P00045000
SidePut
Expiry15 Jan 2027
Strike45.00
Volume24
OI554
IV0.34
ContractGLPI260821P00042500
SidePut
Expiry21 Aug 2026
Strike42.50
Volume6
OI435
IV0.25
ContractGLPI261016P00042500
SidePut
Expiry16 Oct 2026
Strike42.50
Volume3
OI306
IV0.27
ContractGLPI260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume3
OI22
IV0.20
ContractGLPI260821P00045000
SidePut
Expiry21 Aug 2026
Strike45.00
Volume2
OI190
IV0.22
ContractGLPI260918P00042500
SidePut
Expiry18 Sep 2026
Strike42.50
Volume2
OI3
IV0.28
ContractGLPI260821P00050000
SidePut
Expiry21 Aug 2026
Strike50.00
Volume2
OI1
IV0.43
ContractGLPI261016C00050000
SideCall
Expiry16 Oct 2026
Strike50.00
Volume1
OI241
IV0.20
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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Earnings
No upcoming matched earnings event.
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.