Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
EPD options intelligence
Enterprise Products Partners LP options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
44
Market data through 31 Jul 2026
Checked 1 Aug 2026 18:27 · complete available chain
Call-side pressure
Bullish pressure
EPD currently carries bullish options pressure with a 44/100 conviction score. The nearest-chain expected move is 2.0%, with volume/open-interest participation at 0.03.
Expected move
2.0%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.40
Call-side skew
Trend fit
40
Options are not fully confirming trend
Weekly backdrop
-0.3%
RS 3.3
Expected move
2.0%
Put-call volume
0.40
Volume / OI
0.03
Reference IV
0.21
Max pain
38.00
Underlying
38.05
Nearest expiry
7 Aug 2026
Contracts
632
Research Brief
EPD has a bullish chain read with 44/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 37.28–38.82; The largest call open-interest concentration is 38.50; the largest put concentration is 35.00. The most active strike by current volume is 38.00.
Priced range37.28–38.82
Call concentration38.50
Put concentration35.00
Max pain reference38.00
- 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 37.28 to 38.82. Max pain at 38.00 sits inside that range, 0.1% below spot.
Spot
Max pain
37.2838.05 ± 0.7738.82
Confirmation level
A close beyond 38.82 or below 37.28 at the 7 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 44/100
Pressure is 52/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure52 × 42%
+21.9
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement40 × 26%
+10.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility23 × 10%
+2.3
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 38.50; the largest put concentration is 35.00. The most active strike by current volume is 38.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
15
32.00-15.9%
0
31
33.00-13.3%
1
14
34.00-10.6%
0
14
34.50-9.3%
0
337
35.00-8.0%
6
6
35.50-6.7%
0
21
36.00-5.4%
0
17
36.50-4.1%
0
50
37.00-2.8%
11
26
37.50-1.4%
10
220
38.00-0.1%
108
60
38.501.2%
676
2
39.002.5%
252
0
39.503.8%
22
0
40.005.1%
75
0
41.007.8%
21
0
45.0018.3%
0
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.
0.21
7 Aug
7d
0.21
14 Aug
14d
0.20
21 Aug
21d
0.20
28 Aug
28d
0.21
4 Sep
35d
0.19
11 Sep
42d
0.20
18 Sep
49d
0.21
18 Dec
140d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
31
32
33
34
35
35
36
36
37
38
38
39
39
40
41
41
42
42
43
44
45
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
- 632 / 632
- 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.
Call-side pressure is building before a meaningful weekly price response.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $826751 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+52
1W price-0.3%
Call premium90%
Put premium10%
Notional split
C 90% / P 10%
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
40/100
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 · ITM
calls cluster with 766 contracts traded, $258052 estimated gross traded notional, and 31% of visible notional.
$258052
Calls · 91+ days · ATM
calls cluster with 1029 contracts traded, $174674 estimated gross traded notional, and 21% of visible notional.
$174674
Calls · 91+ days · OTM
calls cluster with 560 contracts traded, $116448 estimated gross traded notional, and 14% of visible notional.
$116448
Calls · 8-21 days · ITM
calls cluster with 311 contracts traded, $97189 estimated gross traded notional, and 12% of visible notional.
$97189
Puts · 91+ days · OTM
puts cluster with 346 contracts traded, $30952 estimated gross traded notional, and 4% of visible notional.
$30952
Setup Classification
Opportunity and risk frame
Underlying price is close to the max-pain zone.
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
Close38.05
1W-0.3%
RS3.3
Fair value+32.6%
Options pressure52
Speculation41
Volatility23
Trend fit40
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 10:04
Bullish
Pressure 87
Move 2.7%
30 Jul 10:38
Bullish
Pressure 88
Move 2.1%
30 Jul 15:23
Bullish
Pressure 49
Move 2.1%
30 Jul 15:40
Bullish
Pressure 49
Move 2.2%
30 Jul 19:42
Bullish
Pressure 85
Move 2.3%
31 Jul 10:27
Bullish
Pressure 95
Move 2.7%
31 Jul 14:42
Bullish
Pressure 82
Move 2.5%
1 Aug 10:05
Bullish
Pressure 52
Move 2.3%
Strike Map
Where activity is clustering
Strike20.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike27.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike28.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike29.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 0
Puts · V 3 · OI 0
Strike31.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike32.00
Calls · V 0 · OI 0
Puts · V 0 · OI 15
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts68
Avg IV0.21
Put-call1.48
Expiry14 Aug 2026
Contracts68
Avg IV0.21
Put-call0.09
Expiry21 Aug 2026
Contracts82
Avg IV0.20
Put-call1.03
Expiry28 Aug 2026
Contracts44
Avg IV0.20
Put-call6.62
Expiry4 Sep 2026
Contracts42
Avg IV0.21
Put-call0.12
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
14 Aug 2026Balanced skew
Call IV0.21
Put IV0.19
Skew-0.02
21 Aug 2026Balanced skew
Call IV0.21
Put IV0.20
Skew-0.01
28 Aug 2026Balanced skew
Call IV0.19
Put IV0.20
Skew0.01
4 Sep 2026Balanced skew
Call IV0.21
Put IV0.23
Skew0.02
Contract Tape
Most active contracts
ContractEPD270115C00039000
SideCall
Expiry15 Jan 2027
Strike39.00
Volume930
OI225
IV0.18
ContractEPD260807P00038000
SidePut
Expiry7 Aug 2026
Strike38.00
Volume674
OI220
IV0.18
ContractEPD260814C00040000
SideCall
Expiry14 Aug 2026
Strike40.00
Volume374
OI116
IV0.20
ContractEPD260828P00037000
SidePut
Expiry28 Aug 2026
Strike37.00
Volume329
OI217
IV0.20
ContractEPD260814C00035000
SideCall
Expiry14 Aug 2026
Strike35.00
Volume300
OI-
IV0.32
ContractEPD270115C00037000
SideCall
Expiry15 Jan 2027
Strike37.00
Volume283
OI4230
IV0.17
ContractEPD281215C00040000
SideCall
Expiry15 Dec 2028
Strike40.00
Volume258
OI241
IV0.09
ContractEPD260807C00037500
SideCall
Expiry7 Aug 2026
Strike37.50
Volume194
OI10
IV0.18
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
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.