Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
TEUP options intelligence
T-REX 2X Long TE Daily Target options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 11 Sep 2026
Checked 14 Sep 2026 12:03 · complete available chain
Put-side pressure
Bearish pressure
TEUP currently carries bearish options pressure with a 43/100 conviction score. The nearest-chain expected move is 1.2%, with volume/open-interest participation at 0.12.
Expected move
1.2%
Near-term move context
Activity / OI
0.12
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
7
Options are not fully confirming trend
Weekly backdrop
-1.5%
Sharemaestro weekly context
Expected move
1.2%
Put-call volume
-
Volume / OI
0.12
Reference IV
0.08
Max pain
23.00
Underlying
26.98
Nearest expiry
18 Sep 2026
Contracts
168
Research Brief
TEUP 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 26.67–27.30; The largest call open-interest concentration is 15.00; the largest put concentration is 19.00. The most active strike by current volume is 22.00.
Priced range26.67–27.30
Call concentration15.00
Put concentration19.00
Max pain reference23.00
- Price remains weak while put-side concentration persists.
- 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
Options imply 26.67 to 27.30. Max pain at 23.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
26.6726.98 ± 0.3227.30
Confirmation level
A close beyond 27.30 or below 26.67 at the 18 Sep 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
Pressure is 93/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure93 × 42%
+39.1
How strongly activity leans toward calls or puts.
Participation3 × 22%
+0.6
Volume relative to existing open interest and contract-level activity.
Trend agreement7 × 26%
+1.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility11 × 10%
+1.1
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 15.00; the largest put concentration is 19.00. The most active strike by current volume is 22.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
15.00-44.4%
0
0
18.00-33.3%
0
1
19.00-29.6%
0
0
20.00-25.9%
0
0
21.00-22.2%
0
0
22.00-18.5%
0
1
23.00-14.8%
0
0
24.00-11.0%
0
0
25.00-7.3%
0
0
26.00-3.6%
0
0
27.000.1%
0
0
28.003.8%
0
0
29.007.5%
0
0
30.0011.2%
0
0
31.0014.9%
0
0
32.0018.6%
0
0
33.0022.3%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$28Delta change / 1% move
Positive peak20.00+$53
Negative peak18.00-$25
Nearest balance22.43Interpolated sign change
StrikeNegativePositiveNet / 1% move
18.00-33.3%
-$25
19.00-29.6%
-$4
20.00-25.9%
+$53
23.00-14.8%
-$13
45.0066.8%
+$16
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.08
18 Sep
7d
1.98
16 Oct
35d
2.48
18 Dec
98d
2.38
19 Mar
189d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
22
23
24
25
26
27
28
29
30
31
32
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
8 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing0%
Average expiry move745.7%
20 Aug
Volatility · 49
643.6% through expiry
126.1% priced · v2.0
19 Aug
Volatility · 49
643.6% through expiry
120.4% priced · v2.0
17 Aug
Volatility · 49
643.6% through expiry
106.2% priced · v2.0
14 Aug
Volatility · 52
643.6% through expiry
16.0% priced · v2.0
4 Aug
Volatility · 60
933.5% through expiry
27.7% priced · v2.0
3 Aug
Volatility · 49
933.5% through expiry
14.0% priced · v2.0
31 Jul
Volatility · 50
933.5% through expiry
13.0% priced · v2.0
30 Jul
Volatility · 50
590.8% through expiry
28.3% priced · v2.0
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.
Evidence Quality
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Sep 2026
- Calculation
- v2.0
- Contracts
- 168 / 168
- 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.
Options pressure and weekly price action are both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $905 of estimated gross traded notional, puts · 91+ 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-93
1W price-1.5%
Call premium0%
Put premium100%
Notional split
C 0% / P 100%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.12
Volume divided by open interest across the visible chain.
Trend fit
7/100
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 · OTM
puts cluster with 1 contracts traded, $770 estimated gross traded notional, and 85% of visible notional.
$770
Puts · 0-7 days · OTM
puts cluster with 1 contracts traded, $135 estimated gross traded notional, and 15% of visible notional.
$135
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 15 completed sessions
Volume rank47th
Volume/OI rank60th
IV rank0th
Market Context
Underlying confirmation
Close26.98
1W-1.5%
RS-
Fair value-68.1%
Options pressure-93
Speculation3
Volatility11
Trend fit7
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 13:17
Volatility
Pressure -55
Move 22.1%
30 Jul 13:03
Volatility
Pressure 88
Move 13.0%
31 Jul 12:41
Volatility
Pressure 88
Move 28.3%
3 Aug 11:31
Volatility
Pressure 88
Move 13.0%
4 Aug 12:42
Volatility
Pressure 88
Move 14.0%
5 Aug 13:05
Volatility
Pressure 89
Move 27.7%
14 Aug 15:22
Volatility
Pressure 32
Move 70.5%
15 Aug 05:14
Volatility
Pressure 100
Move 20.9%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike18.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike19.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike21.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike22.00
Calls · V 0 · OI 0
Puts · V 1 · OI 0
Strike23.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike24.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts42
Avg IV0.08
Put-call-
Expiry16 Oct 2026
Contracts42
Avg IV1.98
Put-call-
Expiry18 Dec 2026
Contracts42
Avg IV2.48
Put-call-
Expiry19 Mar 2027
Contracts42
Avg IV2.38
Put-call-
Skew
Call/put IV balance
18 Sep 2026Balanced skew
Call IV0.15
Put IV0.16
Skew0.01
16 Oct 2026Call IV premium
Call IV2.10
Put IV2.01
Skew-0.09
18 Dec 2026Call IV premium
Call IV2.49
Put IV2.43
Skew-0.06
19 Mar 2027Call IV premium
Call IV2.40
Put IV2.34
Skew-0.06
Contract Tape
Most active contracts
ContractTEUP260918P00022000
SidePut
Expiry18 Sep 2026
Strike22.00
Volume1
OI-
IV0.66
ContractTEUP261218P00019000
SidePut
Expiry18 Dec 2026
Strike19.00
Volume1
OI-
IV2.60
ContractTEUP261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume-
OI10
IV2.59
ContractTEUP261218C00045000
SideCall
Expiry18 Dec 2026
Strike45.00
Volume-
OI2
IV2.49
ContractTEUP261016P00018000
SidePut
Expiry16 Oct 2026
Strike18.00
Volume-
OI2
IV2.02
ContractTEUP270319P00018000
SidePut
Expiry19 Mar 2027
Strike18.00
Volume-
OI1
IV2.36
ContractTEUP260918P00023000
SidePut
Expiry18 Sep 2026
Strike23.00
Volume-
OI1
IV0.53
ContractTEUP260918P00019000
SidePut
Expiry18 Sep 2026
Strike19.00
Volume-
OI1
IV1.07
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
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.