Ticker Options Intelligence

TREX options intelligence

Trex Company Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 56 Market data through 31 Jul 2026 Checked 1 Aug 2026 01:37 · complete available chain

Volatility expansion watch

Volatility pressure

TREX currently carries volatility options pressure with a 56/100 conviction score. The nearest-chain expected move is 11.7%, 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 Volatility

Volatility expansion watch

Expected move 11.7%

Wider near-term move priced

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 0.11

Call-side skew

Trend fit 14

Options are not fully confirming trend

Weekly backdrop -3.8%

RS -9.9

Expected move 11.7%
Put-call volume 0.11
Volume / OI 0.01
Reference IV 0.58
Max pain 45.00
Underlying 43.43
Nearest expiry 21 Aug 2026
Contracts 182

Research Brief

TREX has a volatility chain read with 56/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 38.36–48.50; The largest call open-interest concentration is 47.50; the largest put concentration is 32.50. The most active strike by current volume is 42.50.

Priced range38.36–48.50
Call concentration47.50
Put concentration32.50
Max pain reference45.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Options and the weekly trend are not yet giving the same message.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 38.36 to 48.50. Max pain at 45.00 sits inside that range, 3.6% above spot.

Spot Max pain
38.3643.43 ± 5.0748.50
Confirmation level

A close beyond 48.50 or below 38.36 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 56/100

Evidence alignment, not probability

Pressure is 85/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure85 × 42%
+35.5

How strongly activity leans toward calls or puts.

Participation40 × 22%
+8.9

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

Trend agreement14 × 26%
+3.8

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

Volatility81 × 10%
+8.1

The intensity of implied volatility and the priced move.

Reconstructed score56.2Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 47.50; the largest put concentration is 32.50. The most active strike by current volume is 42.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
6
25.00-42.4%
0
0
27.50-36.7%
0
4
30.00-30.9%
0
190
32.50-25.2%
3
10
35.00-19.4%
0
6
37.50-13.7%
1
9
40.00-7.9%
1
120
42.50-2.1%
1
15
45.003.6%
20
6
47.509.4%
250
0
50.0015.1%
125
1
52.5020.9%
34
0
55.0026.6%
69
0
57.5032.4%
21
0
60.0038.2%
16
0
65.0049.7%
0
0
70.0061.2%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

1.09× front/back

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

0.58 21 Aug 21d
0.52 18 Sep 49d
0.53 16 Oct 77d
0.52 18 Dec 140d
0.53 15 Jan 168d

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.

35
38
40
43
45
48
50
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

High

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
182 / 182
  • 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

91/100
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 Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $14768 of estimated gross traded notional, calls · 8-21 days · atm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+85
1W price-3.8%
Call premium94%
Put premium6%
Notional split C 94% / P 6% 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 14/100 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 Calls · 8-21 days · ATM
Calls · 8-21 days · ATM calls cluster with 41 contracts traded, $11992 estimated gross traded notional, and 81% of visible notional.
$11992
Calls · 91+ days · ITM calls cluster with 1 contracts traded, $1320 estimated gross traded notional, and 9% of visible notional.
$1320
Puts · 46-90 days · OTM puts cluster with 5 contracts traded, $850 estimated gross traded notional, and 6% of visible notional.
$850
Calls · 46-90 days · OTM calls cluster with 2 contracts traded, $520 estimated gross traded notional, and 4% of visible notional.
$520
Calls · 8-21 days · OTM calls cluster with 1 contracts traded, $85 estimated gross traded notional, and 1% of visible notional.
$85

Setup Classification

Opportunity and risk frame

Context, not advice
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.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

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

Sharemaestro weekly
Close43.43
1W-3.8%
RS-9.9
Fair value-30.5%
Options pressure85
Speculation40
Volatility81
Trend fit14

Today Versus Normal

Stored-options context

View history
Expected move 11.7% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.58 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.11 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.01 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:42 Volatility
Pressure -37
Move 13.5%
30 Jul 10:39 Volatility
Pressure -34
Move 13.1%
31 Jul 10:25 Bullish
Pressure 60
Move 12.5%
31 Jul 17:23 Volatility
Pressure 51
Move 11.7%
31 Jul 20:11 Volatility
Pressure 48
Move 11.7%
31 Jul 23:59 Volatility
Pressure 48
Move 11.7%
1 Aug 00:37 Volatility
Pressure 85
Move 11.7%

Strike Map

Where activity is clustering

Full strike map
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Strike27.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike32.50
Calls · V 0 · OI 3
Puts · V 0 · OI 190
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike37.50
Calls · V 0 · OI 1
Puts · V 0 · OI 6
Strike40.00
Calls · V 0 · OI 1
Puts · V 0 · OI 9
Strike42.50
Calls · V 41 · OI 1
Puts · V 0 · OI 120

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts34
Avg IV0.58
Put-call-
Expiry18 Sep 2026
Contracts34
Avg IV0.52
Put-call-
Expiry16 Oct 2026
Contracts38
Avg IV0.53
Put-call-
Expiry18 Dec 2026
Contracts38
Avg IV0.52
Put-call-
Expiry15 Jan 2027
Contracts38
Avg IV0.53
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.69
Put IV0.63
Skew-0.06
18 Sep 2026Balanced skew
Call IV0.53
Put IV0.52
Skew-0.01
16 Oct 2026Balanced skew
Call IV0.62
Put IV0.60
Skew-0.02
18 Dec 2026Balanced skew
Call IV0.54
Put IV0.55
Skew0.01
15 Jan 2027Balanced skew
Call IV0.53
Put IV0.54
Skew0.01

Contract Tape

Most active contracts

Full contract tape
ContractTREX260821C00042500
SideCall
Expiry21 Aug 2026
Strike42.50
Volume41
OI1
IV0.59
ContractTREX260918P00040000
SidePut
Expiry18 Sep 2026
Strike40.00
Volume5
OI-
IV0.52
ContractTREX260821C00050000
SideCall
Expiry21 Aug 2026
Strike50.00
Volume1
OI125
IV0.69
ContractTREX261016C00055000
SideCall
Expiry16 Oct 2026
Strike55.00
Volume1
OI95
IV0.62
ContractTREX261016C00045000
SideCall
Expiry16 Oct 2026
Strike45.00
Volume1
OI33
IV0.52
ContractTREX261218C00032500
SideCall
Expiry18 Dec 2026
Strike32.50
Volume1
OI2
IV0.64
ContractTREX261218P00032500
SidePut
Expiry18 Dec 2026
Strike32.50
Volume-
OI710
IV0.67
ContractTREX261218C00047500
SideCall
Expiry18 Dec 2026
Strike47.50
Volume-
OI421
IV0.51