Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
CCI options intelligence
Crown Castle options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
32
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:03 · complete available chain
Options-market disagreement
Mixed pressure
CCI currently carries mixed options pressure with a 32/100 conviction score. The nearest-chain expected move is 6.6%, with volume/open-interest participation at 0.01.
Expected move
6.6%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
1.11
Balanced tape
Trend fit
66
Options agree with trend context
Weekly backdrop
+1.9%
RS -19.8
Expected move
6.6%
Put-call volume
1.11
Volume / OI
0.01
Reference IV
0.32
Max pain
75.00
Underlying
74.90
Nearest expiry
21 Aug 2026
Contracts
468
Research Brief
CCI has a mixed chain read with 32/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 69.92–79.88; The largest call open-interest concentration is 92.50; the largest put concentration is 75.00. The most active strike by current volume is 72.50.
Priced range69.92–79.88
Call concentration92.50
Put concentration75.00
Max pain reference75.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 69.92 to 79.88. Max pain at 75.00 sits inside that range, 0.1% above spot.
Spot
Max pain
69.9274.90 ± 4.9879.88
Confirmation level
A close beyond 79.88 or below 69.92 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 32/100
Pressure is 2/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure2 × 42%
+0.8
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement66 × 26%
+17.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility49 × 10%
+4.9
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 92.50; the largest put concentration is 75.00. The most active strike by current volume is 72.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
5
60.00-19.9%
0
89
65.00-13.2%
1
128
67.50-9.9%
0
321
70.00-6.5%
13
371
72.50-3.2%
505
466
75.000.1%
44
171
77.503.5%
941
114
80.006.8%
800
171
82.5010.1%
1029
18
85.0013.5%
1235
0
87.5016.8%
214
0
90.0020.2%
2725
0
92.5023.5%
2819
0
95.0026.8%
79
0
97.5030.2%
77
0
100.0033.5%
40
0
105.0040.2%
6
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.32
21 Aug
22d
0.35
18 Sep
50d
0.34
16 Oct
78d
0.34
18 Dec
141d
0.33
15 Jan
169d
0.34
19 Mar
232d
0.33
17 Jun
322d
0.32
21 Jan
540d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
60
65
68
70
73
75
78
80
83
85
88
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 468 / 468
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
The options read is mixed, so divergence is not strong enough to classify.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $139532 of estimated gross traded notional, calls · 91+ days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+2
1W price+1.9%
Call premium50%
Put premium50%
Notional split
C 50% / P 50%
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
66/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 91+ days · OTM
calls cluster with 71 contracts traded, $26612 estimated gross traded notional, and 19% of visible notional.
$26612
Puts · 91+ days · ITM
puts cluster with 13 contracts traded, $25130 estimated gross traded notional, and 18% of visible notional.
$25130
Calls · 91+ days · ITM
calls cluster with 5 contracts traded, $18500 estimated gross traded notional, and 13% of visible notional.
$18500
Puts · 91+ days · OTM
puts cluster with 63 contracts traded, $17320 estimated gross traded notional, and 12% of visible notional.
$17320
Calls · 46-90 days · OTM
calls cluster with 52 contracts traded, $8612 estimated gross traded notional, and 6% of visible notional.
$8612
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close76.30
1W+1.9%
RS-19.8
Fair value-16.1%
Options pressure2
Speculation40
Volatility49
Trend fit66
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:11
Bullish
Pressure 24
Move 6.6%
30 Jul 10:07
Bullish
Pressure 65
Move 9.0%
31 Jul 10:03
Mixed
Pressure 2
Move 6.6%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike65.00
Calls · V 0 · OI 1
Puts · V 0 · OI 89
Strike67.50
Calls · V 0 · OI 0
Puts · V 0 · OI 128
Strike70.00
Calls · V 0 · OI 13
Puts · V 5 · OI 321
Strike72.50
Calls · V 0 · OI 505
Puts · V 61 · OI 371
Strike75.00
Calls · V 2 · OI 44
Puts · V 27 · OI 466
Strike77.50
Calls · V 15 · OI 941
Puts · V 0 · OI 171
Strike80.00
Calls · V 27 · OI 800
Puts · V 4 · OI 114
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts44
Avg IV0.32
Put-call1.72
Expiry18 Sep 2026
Contracts66
Avg IV0.35
Put-call1.21
Expiry16 Oct 2026
Contracts54
Avg IV0.34
Put-call0.24
Expiry18 Dec 2026
Contracts58
Avg IV0.34
Put-call6.10
Expiry15 Jan 2027
Contracts74
Avg IV0.33
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.32
Put IV0.34
Skew0.02
18 Sep 2026Balanced skew
Call IV0.32
Put IV0.35
Skew0.03
16 Oct 2026Balanced skew
Call IV0.31
Put IV0.34
Skew0.03
18 Dec 2026Balanced skew
Call IV0.32
Put IV0.37
Skew0.05
15 Jan 2027Put IV premium
Call IV0.29
Put IV0.41
Skew0.12
Contract Tape
Most active contracts
ContractCCI260821P00072500
SidePut
Expiry21 Aug 2026
Strike72.50
Volume61
OI371
IV0.34
ContractCCI261218P00067500
SidePut
Expiry18 Dec 2026
Strike67.50
Volume33
OI1
IV0.37
ContractCCI260821C00080000
SideCall
Expiry21 Aug 2026
Strike80.00
Volume27
OI800
IV0.32
ContractCCI260821P00075000
SidePut
Expiry21 Aug 2026
Strike75.00
Volume27
OI466
IV0.31
ContractCCI270115C00080000
SideCall
Expiry15 Jan 2027
Strike80.00
Volume24
OI77
IV0.30
ContractCCI260918P00072500
SidePut
Expiry18 Sep 2026
Strike72.50
Volume17
OI158
IV0.36
ContractCCI260821C00077500
SideCall
Expiry21 Aug 2026
Strike77.50
Volume15
OI941
IV0.33
ContractCCI261218P00070000
SidePut
Expiry18 Dec 2026
Strike70.00
Volume15
OI51
IV0.36
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
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.