Ticker Options Intelligence

OPTU options intelligence

Optimum Communications, Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 63 Market data through 18 Sep 2026 Checked 20 Sep 2026 01:16 · complete available chain

Volatility expansion watch

Volatility pressure

OPTU currently carries volatility options pressure with a 63/100 conviction score. The nearest-chain expected move is 32.4%, with volume/open-interest participation at 0.03.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Volatility

Volatility expansion watch

Expected move 32.4%

Wider near-term move priced

Activity / OI 0.03

Current volume is quieter versus prior open interest

Put-call 2.85

Put-side skew

Trend fit 84

Options agree with trend context

Weekly backdrop +5.9%

RS -33.4

Expected move 32.4%
Put-call volume 2.85
Volume / OI 0.03
Reference IV 1.48
Max pain 1.00
Underlying 1.08
Nearest expiry 16 Oct 2026
Contracts 98

Research Brief

OPTU has a volatility chain read with 63/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 0.73–1.43; The largest call open-interest concentration is 1.00; the largest put concentration is 1.00. The most active strike by current volume is 1.00.

Priced range0.73–1.43
Call concentration1.00
Put concentration1.00
Max pain reference1.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 16 Oct

Options imply 0.73 to 1.43. Max pain at 1.00 sits inside that range, 7.4% below spot.

Spot Max pain
0.731.08 ± 0.351.43
Confirmation level

A close beyond 1.43 or below 0.73 at the 16 Oct 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 63/100

Evidence alignment, not probability

Pressure is 53/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure53 × 42%
+22.4

How strongly activity leans toward calls or puts.

Participation41 × 22%
+8.9

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

Trend agreement84 × 26%
+21.9

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

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score62.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 1.00; the largest put concentration is 1.00. The most active strike by current volume is 1.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
0.50-53.7%
2
12
1.00-7.4%
559
0
1.5038.9%
37
0
2.0085.2%
0
0
2.50131.5%
17
0
5.00363.0%
0
0
7.50594.4%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Balanced gamma proxy

Reported Greeks · 96% coverage

Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.

Net profile-$973Delta change / 1% move
Positive peak1.50+$544
Negative peak0.50-$737
Nearest balance1.04Interpolated sign change
StrikeNegativePositiveNet / 1% move
0.50-53.7%
-$737
1.00-7.4%
-$49
1.5038.9%
+$544
2.0085.2%
-$445
2.50131.5%
+$57
5.00363.0%
-$201
7.50594.4%
-$143
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

Front-loaded volatility

1.53× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

1.48 16 Oct 28d
1.26 20 Nov 63d
1.27 18 Dec 91d
0.95 15 Jan 119d
1.25 19 Mar 182d
0.96 21 Jan 490d
0.97 19 Jan 854d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

There is not enough comparable OTM call and put volatility to classify the smile.

1
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

24 matured · 10 directional

Across 10 stored directional transitions, the next stored price moved in the labelled direction 70% of the time.

Directional follow-through70%
Moves contained by pricing96%
Average expiry move8.4%
17 Sep Bearish · 55 5.9% through expiry 12.7% priced · v2.0
16 Sep Volatility · 59 5.9% through expiry 12.7% priced · v2.0
15 Sep Volatility · 59 5.9% through expiry 18.6% priced · v2.0
14 Sep Mixed · 30 5.9% through expiry 15.0% priced · v2.0
11 Sep Bullish · 29 5.9% through expiry 23.5% priced · v2.0
10 Sep Volatility · 47 2.9% through expiry 21.9% priced · v2.0
8 Sep Bullish · 31 2.9% through expiry 22.4% priced · v2.0
4 Sep Volatility · 54 2.9% through expiry 26.2% priced · v2.0
3 Sep Bullish · 41 5.9% through expiry 18.6% priced · v2.0
1 Sep Volatility · 61 5.9% through expiry 22.1% priced · v2.0
28 Aug Bullish · 33 5.9% through expiry 24.0% priced · v2.0
25 Aug Bullish · 38 27.4% through expiry 26.5% 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

High

A97/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
18 Sep 2026
Calculation
v2.0
Contracts
98 / 98
  • 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

Volatility expansion bet

92/100
Primary intent Volatility expansion bet

The strongest message is movement risk: expected move and implied volatility are carrying more signal than 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

Volatility expansion bet matters because it connects the options headline to the actual evidence: $50,992 of estimated gross traded notional, puts · 91+ days · itm, 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-53
1W price+5.9%
Call premium10%
Put premium90%
Notional split C 10% / P 90% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.03 Volume divided by open interest across the visible chain.
Trend fit 84/100 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.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 334 contracts traded, $40,740 estimated gross traded notional, and 80% of visible notional.
$40,740
Puts · 91+ days · OTM puts cluster with 101 contracts traded, $5,022 estimated gross traded notional, and 10% of visible notional.
$5,022
Calls · 91+ days · ITM calls cluster with 52 contracts traded, $2,050 estimated gross traded notional, and 4% of visible notional.
$2,050
Calls · 91+ days · OTM calls cluster with 56 contracts traded, $1,888 estimated gross traded notional, and 4% of visible notional.
$1,888
Calls · 46-90 days · ITM calls cluster with 32 contracts traded, $800 estimated gross traded notional, and 2% of visible notional.
$800

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

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.

Activity Anomaly

Normal range

54

Activity is broadly in line with recent stored snapshots.

Baseline: 26 completed sessions

Volume rank65th
Volume/OI rank69th
IV rank27th

Market Context

Underlying confirmation

Sharemaestro weekly
Close1.08
1W+5.9%
RS-33.4
Fair value-48.5%
Options pressure-53
Speculation41
Volatility96
Trend fit84

Today Versus Normal

Stored-options context

View history
Expected move 32.4% elevated
30d avg 20.7% · 13 sessions 100th
90d avg - · 26/30 sessions -
180d avg - · 26/60 sessions -
IV 1.48 near normal
30d avg 1.94 · 13 sessions 38th
90d avg - · 26/30 sessions -
180d avg - · 26/60 sessions -
Put-call 2.85 near normal
30d avg 1.88 · 13 sessions 69th
90d avg - · 26/30 sessions -
180d avg - · 26/60 sessions -
Volume/OI 0.03 near normal
30d avg 0.02 · 13 sessions 77th
90d avg - · 26/30 sessions -
180d avg - · 26/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
30 Jul 15:32 Volatility
Pressure -98
Move 43.4%
30 Jul 19:26 Volatility
Pressure -83
Move 49.6%
30 Jul 19:47 Volatility
Pressure -82
Move 49.6%
30 Jul 21:11 Volatility
Pressure -81
Move 49.6%
31 Jul 23:04 Volatility
Pressure -94
Move 49.6%
1 Aug 04:18 Volatility
Pressure -42
Move 49.6%
3 Aug 12:52 Volatility
Pressure -42
Move 52.5%
3 Aug 14:30 Volatility
Pressure -96
Move 49.2%

Strike Map

Where activity is clustering

Full strike map
Strike0.50
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike1.00
Calls · V 7 · OI 559
Puts · V 0 · OI 12
Strike1.50
Calls · V 0 · OI 37
Puts · V 0 · OI 0
Strike2.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike2.50
Calls · V 0 · OI 17
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry16 Oct 2026
Contracts14
Avg IV1.48
Put-call-
Expiry20 Nov 2026
Contracts14
Avg IV1.26
Put-call0.36
Expiry18 Dec 2026
Contracts14
Avg IV1.27
Put-call0.25
Expiry15 Jan 2027
Contracts14
Avg IV0.95
Put-call0.91
Expiry19 Mar 2027
Contracts14
Avg IV1.25
Put-call0.17

Skew

Call/put IV balance

OTM demand
16 Oct 2026Put IV premium
Call IV0.82
Put IV1.39
Skew0.57
20 Nov 2026Put IV premium
Call IV0.54
Put IV1.24
Skew0.70
18 Dec 2026Put IV premium
Call IV0.45
Put IV1.29
Skew0.84
15 Jan 2027Put IV premium
Call IV0.40
Put IV1.14
Skew0.74
19 Mar 2027Put IV premium
Call IV0.50
Put IV1.05
Skew0.55

Contract Tape

Most active contracts

Full contract tape
ContractOPTU280121P00001500
SidePut
Expiry21 Jan 2028
Strike1.50
Volume200
OI200
IV0.86
ContractOPTU280121P00001000
SidePut
Expiry21 Jan 2028
Strike1.00
Volume100
OI500
IV1.32
ContractOPTU280121P00002000
SidePut
Expiry21 Jan 2028
Strike2.00
Volume100
OI200
IV1.85
ContractOPTU280121C00001500
SideCall
Expiry21 Jan 2028
Strike1.50
Volume39
OI5
IV0.98
ContractOPTU270115P00005000
SidePut
Expiry15 Jan 2027
Strike5.00
Volume30
OI883
IV2.22
ContractOPTU270115C00001000
SideCall
Expiry15 Jan 2027
Strike1.00
Volume28
OI262
IV0.99
ContractOPTU261218C00001000
SideCall
Expiry18 Dec 2026
Strike1.00
Volume17
OI110
IV0.83
ContractOPTU261120C00001000
SideCall
Expiry20 Nov 2026
Strike1.00
Volume13
OI19
IV1.02

Evidence context