Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
TTE options intelligence
TotalEnergies SE ADR options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 31 Jul 2026
Checked 1 Aug 2026 04:32 · complete available chain
Call-side pressure
Bullish pressure
TTE currently carries bullish options pressure with a 53/100 conviction score. The nearest-chain expected move is 5.3%, with volume/open-interest participation at 0.09.
Expected move
5.3%
Near-term move context
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
0.03
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+1.2%
RS 10.6
Expected move
5.3%
Put-call volume
0.03
Volume / OI
0.09
Reference IV
0.24
Max pain
82.50
Underlying
86.80
Nearest expiry
21 Aug 2026
Contracts
572
Research Brief
TTE has a bullish chain read with 53/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 82.20–91.40; The largest call open-interest concentration is 87.50; the largest put concentration is 72.50. The most active strike by current volume is 90.00.
Priced range82.20–91.40
Call concentration87.50
Put concentration72.50
Max pain reference82.50
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 82.20 to 91.40. Max pain at 82.50 sits inside that range, 5.0% below spot.
Spot
Max pain
82.2086.80 ± 4.6091.40
Confirmation level
A close beyond 91.40 or below 82.20 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 53/100
Pressure is 96/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure96 × 42%
+40.2
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.3
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility38 × 10%
+3.8
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 87.50; the largest put concentration is 72.50. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
157
65.00-25.1%
11
397
67.50-22.2%
48
432
70.00-19.4%
174
626
72.50-16.5%
70
322
75.00-13.6%
200
543
77.50-10.7%
211
418
80.00-7.8%
319
418
82.50-5.0%
852
280
85.00-2.1%
614
292
87.500.8%
3645
58
90.003.7%
1277
40
92.506.6%
300
25
95.009.4%
491
4
97.5012.3%
269
0
100.0015.2%
724
0
105.0021.0%
918
0
110.0026.7%
232
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.
0.24
21 Aug
21d
0.24
18 Sep
49d
0.25
16 Oct
77d
0.25
20 Nov
112d
0.25
18 Dec
140d
0.24
15 Jan
168d
0.24
19 Feb
203d
0.24
17 Jun
321d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
70
73
75
78
80
83
85
88
90
93
95
98
100
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
- 572 / 572
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $1.0M of estimated gross traded notional, calls · 8-21 days · atm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+96
1W price+1.2%
Call premium96%
Put premium4%
Notional split
C 96% / P 4%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.09
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
Calls · 8-21 days · ATM
calls cluster with 2485 contracts traded, $596665 estimated gross traded notional, and 59% of visible notional.
$596665
Calls · 8-21 days · OTM
calls cluster with 2532 contracts traded, $271170 estimated gross traded notional, and 27% of visible notional.
$271170
Calls · 91+ days · ITM
calls cluster with 27 contracts traded, $37080 estimated gross traded notional, and 4% of visible notional.
$37080
Calls · 8-21 days · ITM
calls cluster with 30 contracts traded, $36665 estimated gross traded notional, and 4% of visible notional.
$36665
Puts · 91+ days · ATM
puts cluster with 69 contracts traded, $30910 estimated gross traded notional, and 3% of visible notional.
$30910
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
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
Close87.86
1W+1.2%
RS10.6
Fair value+41.6%
Options pressure96
Speculation42
Volatility38
Trend fit0
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 10:00
Bullish
Pressure 71
Move 6.2%
30 Jul 10:00
Mixed
Pressure 9
Move 5.4%
31 Jul 10:00
Bullish
Pressure 31
Move 5.1%
1 Aug 03:32
Bullish
Pressure 96
Move 5.3%
Strike Map
Where activity is clustering
Strike37.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike42.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 136
Strike47.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 18
Strike57.50
Calls · V 0 · OI 0
Puts · V 0 · OI 65
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts60
Avg IV0.24
Put-call0.00
Expiry18 Sep 2026
Contracts40
Avg IV0.24
Put-call0.11
Expiry16 Oct 2026
Contracts32
Avg IV0.25
Put-call0.06
Expiry20 Nov 2026
Contracts48
Avg IV0.25
Put-call0.56
Expiry18 Dec 2026
Contracts68
Avg IV0.25
Put-call5.30
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.23
Put IV0.24
Skew0.01
18 Sep 2026Balanced skew
Call IV0.26
Put IV0.25
Skew-0.01
16 Oct 2026Balanced skew
Call IV0.21
Put IV0.26
Skew0.05
20 Nov 2026Balanced skew
Call IV0.23
Put IV0.28
Skew0.05
18 Dec 2026Balanced skew
Call IV0.23
Put IV0.26
Skew0.03
Contract Tape
Most active contracts
ContractTTE260821C00090000
SideCall
Expiry21 Aug 2026
Strike90.00
Volume2517
OI1277
IV0.22
ContractTTE260821C00087500
SideCall
Expiry21 Aug 2026
Strike87.50
Volume2483
OI3645
IV0.25
ContractTTE261218P00067500
SidePut
Expiry18 Dec 2026
Strike67.50
Volume47
OI383
IV0.30
ContractTTE261120C00092500
SideCall
Expiry20 Nov 2026
Strike92.50
Volume38
OI88
IV0.22
ContractTTE261218P00085000
SidePut
Expiry18 Dec 2026
Strike85.00
Volume29
OI94
IV0.27
ContractTTE261120P00087500
SidePut
Expiry20 Nov 2026
Strike87.50
Volume20
OI427
IV0.29
ContractTTE261218P00087500
SidePut
Expiry18 Dec 2026
Strike87.50
Volume20
OI305
IV0.26
ContractTTE260821C00075000
SideCall
Expiry21 Aug 2026
Strike75.00
Volume20
OI200
IV0.31
Research Graph
Related research and context
Sharemaestro research
Related News
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.