Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
CNP options intelligence
CenterPoint Energy Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
38
Market data through 31 Jul 2026
Checked 2 Aug 2026 09:45 · complete available chain
Call-side pressure
Bullish pressure
CNP currently carries bullish options pressure with a 38/100 conviction score. The nearest-chain expected move is 3.4%, with volume/open-interest participation at 0.02.
Expected move
3.4%
Near-term move context
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.85
Balanced tape
Trend fit
70
Options agree with trend context
Weekly backdrop
-5.7%
RS -4.5
Expected move
3.4%
Put-call volume
0.85
Volume / OI
0.02
Reference IV
0.19
Max pain
40.00
Underlying
42.04
Nearest expiry
21 Aug 2026
Contracts
302
Research Brief
CNP has a bullish chain read with 38/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 40.59–43.49; The largest call open-interest concentration is 42.00; the largest put concentration is 43.00. The most active strike by current volume is 43.00.
Priced range40.59–43.49
Call concentration42.00
Put concentration43.00
Max pain reference40.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 40.59 to 43.49. Max pain at 40.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
40.5942.04 ± 1.4543.49
Confirmation level
A close beyond 43.49 or below 40.59 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 38/100
Pressure is 18/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure18 × 42%
+7.7
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement70 × 26%
+18.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility27 × 10%
+2.7
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 42.00; the largest put concentration is 43.00. The most active strike by current volume is 43.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
25
33.00-21.5%
4
235
35.00-16.7%
13
15
36.00-14.4%
45
18
37.00-12.0%
0
121
38.00-9.6%
27
300
39.00-7.2%
50
286
40.00-4.9%
1157
72
41.00-2.5%
119
113
42.00-0.1%
4008
387
43.002.3%
387
82
44.004.7%
1137
49
45.007.0%
1855
25
46.009.4%
237
8
47.0011.8%
665
55
48.0014.2%
132
0
49.0016.6%
57
1
50.0018.9%
257
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.
0.19
21 Aug
21d
0.21
18 Sep
49d
0.22
20 Nov
112d
0.21
18 Dec
140d
0.24
15 Jan
168d
0.22
19 Feb
203d
0.22
17 Dec
504d
0.22
21 Jan
539d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
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
- 302 / 302
- 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 are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Put-heavy activity matters because it connects the options headline to the actual evidence: $31195 of estimated gross traded notional, puts · 91+ days · atm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+18
1W price-5.7%
Call premium31%
Put premium69%
Notional split
C 31% / P 69%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
70/100
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 49 contracts traded, $7628 estimated gross traded notional, and 24% of visible notional.
$7628
Puts · 46-90 days · ATM
puts cluster with 50 contracts traded, $6525 estimated gross traded notional, and 21% of visible notional.
$6525
Calls · 8-21 days · ATM
calls cluster with 118 contracts traded, $5018 estimated gross traded notional, and 16% of visible notional.
$5018
Puts · 8-21 days · ATM
puts cluster with 77 contracts traded, $4402 estimated gross traded notional, and 14% of visible notional.
$4402
Calls · 46-90 days · OTM
calls cluster with 71 contracts traded, $1910 estimated gross traded notional, and 6% of visible notional.
$1910
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close42.04
1W-5.7%
RS-4.5
Fair value+26.7%
Options pressure18
Speculation41
Volatility27
Trend fit70
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 10:15
Bullish
Pressure 99
Move 4.7%
30 Jul 10:11
Bullish
Pressure 100
Move 6.4%
30 Jul 22:16
Bullish
Pressure 85
Move 6.3%
31 Jul 02:18
Bullish
Pressure 94
Move 6.3%
31 Jul 15:10
Bullish
Pressure 64
Move 7.0%
31 Jul 16:53
Bullish
Pressure 59
Move 7.0%
31 Jul 23:19
Bullish
Pressure 54
Move 7.0%
2 Aug 08:45
Bullish
Pressure 18
Move 3.4%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 1
Puts · V 0 · OI 2
Strike31.00
Calls · V 0 · OI 5
Puts · V 0 · OI 0
Strike32.00
Calls · V 0 · OI 3
Puts · V 0 · OI 1
Strike33.00
Calls · V 0 · OI 4
Puts · V 0 · OI 25
Strike34.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike35.00
Calls · V 0 · OI 13
Puts · V 0 · OI 235
Strike36.00
Calls · V 0 · OI 45
Puts · V 0 · OI 15
Strike37.00
Calls · V 0 · OI 0
Puts · V 0 · OI 18
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts46
Avg IV0.19
Put-call0.53
Expiry18 Sep 2026
Contracts36
Avg IV0.21
Put-call0.84
Expiry20 Nov 2026
Contracts38
Avg IV0.22
Put-call-
Expiry18 Dec 2026
Contracts44
Avg IV0.21
Put-call13.50
Expiry15 Jan 2027
Contracts44
Avg IV0.24
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.19
Put IV0.21
Skew0.02
18 Sep 2026Balanced skew
Call IV0.19
Put IV0.23
Skew0.04
20 Nov 2026Balanced skew
Call IV0.19
Put IV0.21
Skew0.02
18 Dec 2026Balanced skew
Call IV0.19
Put IV0.23
Skew0.04
15 Jan 2027Balanced skew
Call IV0.24
Put IV0.27
Skew0.03
Contract Tape
Most active contracts
ContractCNP260821C00043000
SideCall
Expiry21 Aug 2026
Strike43.00
Volume111
OI387
IV0.19
ContractCNP260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume60
OI4
IV0.08
ContractCNP260821P00042000
SidePut
Expiry21 Aug 2026
Strike42.00
Volume56
OI113
IV0.17
ContractCNP260821C00044000
SideCall
Expiry21 Aug 2026
Strike44.00
Volume39
OI1137
IV0.18
ContractCNP260918P00041000
SidePut
Expiry18 Sep 2026
Strike41.00
Volume26
OI13
IV0.22
ContractCNP260821C00045000
SideCall
Expiry21 Aug 2026
Strike45.00
Volume25
OI1855
IV0.13
ContractCNP260821P00040000
SidePut
Expiry21 Aug 2026
Strike40.00
Volume25
OI286
IV0.23
ContractCNP260918P00043000
SidePut
Expiry18 Sep 2026
Strike43.00
Volume24
OI1
IV0.23
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
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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.