Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SM options intelligence
SM Energy Co options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
52
Market data through 29 Jul 2026
Checked 30 Jul 2026 03:49 · complete available chain
Volatility expansion watch
Volatility pressure
SM currently carries volatility options pressure with a 52/100 conviction score. The nearest-chain expected move is 11.2%, with volume/open-interest participation at 0.03.
Expected move
11.2%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.48
Call-side skew
Trend fit
63
Options agree with trend context
Weekly backdrop
+6.0%
RS 24.2
Expected move
11.2%
Put-call volume
0.48
Volume / OI
0.03
Reference IV
0.59
Max pain
25.00
Underlying
33.19
Nearest expiry
21 Aug 2026
Contracts
207
Options Intent Radar
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $1.2M of estimated gross traded notional, calls · 22-45 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+43
1W price+6.0%
Call premium72%
Put premium28%
Notional split
C 72% / P 28%
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
63/100
Agreement between options pressure and Sharemaestro market context.
Event window
30 Jul
Matched earnings event is 0 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 22-45 days · ITM
calls cluster with 242 contracts traded, $378602 estimated gross traded notional, and 33% of visible notional.
$378602
Calls · 91+ days · ITM
calls cluster with 259 contracts traded, $290477 estimated gross traded notional, and 25% of visible notional.
$290477
Puts · 91+ days · ITM
puts cluster with 175 contracts traded, $177780 estimated gross traded notional, and 15% of visible notional.
$177780
Calls · 91+ days · OTM
calls cluster with 480 contracts traded, $75496 estimated gross traded notional, and 6% of visible notional.
$75496
Calls · 91+ days · ATM
calls cluster with 146 contracts traded, $58920 estimated gross traded notional, and 5% of visible notional.
$58920
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Above normal
Activity is running above the recent historical baseline.
Volume rank100th
Volume/OI rank100th
IV rank50th
Market Context
Underlying confirmation
Close33.19
1W+6.0%
RS24.2
Fair value+2.0%
Options pressure43
Speculation41
Volatility81
Trend fit63
Today Versus Normal
Stored-options context
30d avg 12.2% · 2 reads
50th
90d avg 12.2% · 2 reads
50th
180d avg 12.2% · 2 reads
50th
30d avg 0.59 · 2 reads
50th
90d avg 0.59 · 2 reads
50th
180d avg 0.59 · 2 reads
50th
30d avg 0.32 · 2 reads
100th
90d avg 0.32 · 2 reads
100th
180d avg 0.32 · 2 reads
100th
30d avg 0.01 · 2 reads
100th
90d avg 0.01 · 2 reads
100th
180d avg 0.01 · 2 reads
100th
Pressure Trail
Recent pressure and volatility
29 Jul 10:32
Volatility
Pressure 50
Move 13.3%
30 Jul 01:01
Volatility
Pressure 70
Move 11.2%
30 Jul 02:49
Volatility
Pressure 43
Move 11.2%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 89 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 4 · OI 0
Puts · V 0 · OI 0
Strike7.50
Calls · V 10 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 1 · OI 1
Puts · V 1 · OI 12
Strike12.50
Calls · V 1 · OI 1
Puts · V 20 · OI 0
Strike15.00
Calls · V 1 · OI 1863
Puts · V 2 · OI 130
Strike17.50
Calls · V 2 · OI 207
Puts · V 10 · OI 775
Strike20.00
Calls · V 10 · OI 280
Puts · V 2 · OI 365
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts34
Avg IV0.59
Put-call0.31
Expiry18 Sep 2026
Contracts18
Avg IV0.56
Put-call3.39
Expiry16 Oct 2026
Contracts21
Avg IV0.03
Put-call0.66
Expiry20 Nov 2026
Contracts27
Avg IV0.54
Put-call0.68
Expiry18 Dec 2026
Contracts37
Avg IV0.54
Put-call0.24
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.59
Put IV0.55
Skew-0.04
18 Sep 2026Balanced skew
Call IV0.56
Put IV0.53
Skew-0.03
16 Oct 2026Call IV premium
Call IV0.06
Put IV0.00
Skew-0.06
20 Nov 2026Balanced skew
Call IV0.54
Put IV0.54
Skew0.00
18 Dec 2026Balanced skew
Call IV0.55
Put IV0.53
Skew-0.01
Contract Tape
Most active contracts
ContractSM260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume-
OI14
IV0.51
ContractCIVI270115P00032500
SidePut
Expiry15 Jan 2027
Strike32.50
Volume-
OI9
IV0.00
ContractCIVI261016P00050000
SidePut
Expiry16 Oct 2026
Strike50.00
Volume-
OI2
IV0.00
ContractSM270219C00015000
SideCall
Expiry19 Feb 2027
Strike15.00
Volume-
OI1
IV1.24
ContractCIVI270115P00050000
SidePut
Expiry15 Jan 2027
Strike50.00
Volume-
OI1
IV0.00
ContractSM270219P00017500
SidePut
Expiry19 Feb 2027
Strike17.50
Volume-
OI1
IV0.66
ContractSM270219P00040000
SidePut
Expiry19 Feb 2027
Strike40.00
Volume-
OI1
IV0.39
ContractSM260918C00017500
SideCall
Expiry18 Sep 2026
Strike17.50
Volume-
OI1
IV0.84
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
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.