Ticker Options Intelligence

VNO options intelligence

Vornado Realty Trust options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 48 Market data through 30 Jul 2026 Checked 31 Jul 2026 07:43 · complete available chain

Put-side pressure

Bearish pressure

VNO currently carries bearish options pressure with a 48/100 conviction score. The nearest-chain expected move is 9.1%, 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 Bearish

Put-side pressure

Expected move 9.1%

Wider near-term move priced

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 2.42

Put-side skew

Trend fit 74

Options agree with trend context

Weekly backdrop -1.5%

RS 7.4

Expected move 9.1%
Put-call volume 2.42
Volume / OI 0.01
Reference IV 0.40
Max pain 38.00
Underlying 39.72
Nearest expiry 21 Aug 2026
Contracts 274

Research Brief

VNO has a bearish chain read with 48/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 36.10–43.34; The largest call open-interest concentration is 40.00; the largest put concentration is 36.00. The most active strike by current volume is 41.00.

Priced range36.10–43.34
Call concentration40.00
Put concentration36.00
Max pain reference38.00
What would confirm it
  • Price remains weak while put-side concentration persists.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 36.10 to 43.34. Max pain at 38.00 sits inside that range, 4.3% below spot.

Spot Max pain
36.1039.72 ± 3.6243.34
Confirmation level

A close beyond 43.34 or below 36.10 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 48/100

Evidence alignment, not probability

Pressure is 33/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure33 × 42%
+13.7

How strongly activity leans toward calls or puts.

Participation40 × 22%
+8.9

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

Trend agreement74 × 26%
+19.1

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

Volatility65 × 10%
+6.5

The intensity of implied volatility and the priced move.

Reconstructed score48.2Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 40.00; the largest put concentration is 36.00. The most active strike by current volume is 41.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
3
30.00-24.5%
5
3
31.00-22.0%
2
0
32.00-19.4%
3
0
33.00-16.9%
3
1
34.00-14.4%
3
15
35.00-11.9%
2
67
36.00-9.4%
4
12
37.00-6.8%
7
21
38.00-4.3%
20
13
39.00-1.8%
26
10
40.000.7%
142
0
41.003.2%
53
5
42.005.7%
5
2
43.008.3%
72
0
44.0010.8%
13
0
45.0013.3%
17
0
46.0015.8%
6
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

1.02× front/back

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

0.40 21 Aug 22d
0.38 18 Sep 50d
0.40 18 Dec 141d
0.41 15 Jan 169d
0.41 19 Mar 232d
0.39 21 Jan 540d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

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

32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
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
274 / 274
  • 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

78/100
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 Bearish flow confirms price

Options pressure and weekly price action are both cautionary.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $21892 of estimated gross traded notional, puts · 46-90 days · otm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-33
1W price-1.5%
Call premium25%
Put premium75%
Notional split C 25% / P 75% 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 74/100 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 Puts · 46-90 days · OTM
Puts · 46-90 days · OTM puts cluster with 152 contracts traded, $14775 estimated gross traded notional, and 67% of visible notional.
$14775
Calls · 8-21 days · OTM calls cluster with 52 contracts traded, $3628 estimated gross traded notional, and 17% of visible notional.
$3628
Puts · 8-21 days · ITM puts cluster with 4 contracts traded, $1480 estimated gross traded notional, and 7% of visible notional.
$1480
Calls · 8-21 days · ATM calls cluster with 8 contracts traded, $1460 estimated gross traded notional, and 7% of visible notional.
$1460
Calls · 46-90 days · OTM calls cluster with 5 contracts traded, $332 estimated gross traded notional, and 2% of visible notional.
$332

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

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

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
Close39.72
1W-1.5%
RS7.4
Fair value+23.7%
Options pressure-33
Speculation40
Volatility65
Trend fit74

Today Versus Normal

Stored-options context

View history
Expected move 9.1% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 0.40 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 2.42 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 10:33 Bullish
Pressure 78
Move 9.8%
30 Jul 10:31 Bullish
Pressure 53
Move 11.1%
31 Jul 06:43 Bearish
Pressure -33
Move 9.1%

Strike Map

Where activity is clustering

Full strike map
Strike30.00
Calls · V 0 · OI 5
Puts · V 0 · OI 3
Strike31.00
Calls · V 0 · OI 2
Puts · V 0 · OI 3
Strike32.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Strike33.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Strike34.00
Calls · V 0 · OI 3
Puts · V 0 · OI 1
Strike35.00
Calls · V 0 · OI 2
Puts · V 0 · OI 15
Strike36.00
Calls · V 0 · OI 4
Puts · V 0 · OI 67
Strike37.00
Calls · V 0 · OI 7
Puts · V 0 · OI 12

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts40
Avg IV0.40
Put-call0.07
Expiry18 Sep 2026
Contracts62
Avg IV0.38
Put-call30.60
Expiry18 Dec 2026
Contracts60
Avg IV0.40
Put-call-
Expiry15 Jan 2027
Contracts34
Avg IV0.41
Put-call-
Expiry19 Mar 2027
Contracts46
Avg IV0.41
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.38
Put IV0.54
Skew0.17
18 Sep 2026Put IV premium
Call IV0.34
Put IV0.40
Skew0.06
18 Dec 2026Put IV premium
Call IV0.39
Put IV0.47
Skew0.09
15 Jan 2027Put IV premium
Call IV0.37
Put IV0.44
Skew0.08
19 Mar 2027Put IV premium
Call IV0.36
Put IV0.44
Skew0.09

Contract Tape

Most active contracts

Full contract tape
ContractVNO260918P00037000
SidePut
Expiry18 Sep 2026
Strike37.00
Volume150
OI15
IV0.40
ContractVNO260821C00041000
SideCall
Expiry21 Aug 2026
Strike41.00
Volume18
OI53
IV0.37
ContractVNO260821C00044000
SideCall
Expiry21 Aug 2026
Strike44.00
Volume16
OI13
IV0.38
ContractVNO260821C00043000
SideCall
Expiry21 Aug 2026
Strike43.00
Volume9
OI72
IV0.38
ContractVNO260821C00040000
SideCall
Expiry21 Aug 2026
Strike40.00
Volume8
OI142
IV0.43
ContractVNO260821C00042000
SideCall
Expiry21 Aug 2026
Strike42.00
Volume8
OI5
IV0.37
ContractVNO260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume4
OI34
IV0.34
ContractVNO260821P00043000
SidePut
Expiry21 Aug 2026
Strike43.00
Volume4
OI2
IV0.50