Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
SBAC options intelligence
SBA Communications Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
64
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:06 · complete available chain
Put-side pressure
Bearish pressure
SBAC currently carries bearish options pressure with a 64/100 conviction score. The nearest-chain expected move is 7.9%, with volume/open-interest participation at 0.19.
Expected move
7.9%
Wider near-term move priced
Activity / OI
0.19
Current volume is quieter versus prior open interest
Put-call
45.77
Put-side skew
Trend fit
38
Options are not fully confirming trend
Weekly backdrop
-6.5%
RS -18.9
Expected move
7.9%
Put-call volume
45.77
Volume / OI
0.19
Reference IV
0.34
Max pain
190.00
Underlying
173.57
Nearest expiry
21 Aug 2026
Contracts
330
Research Brief
SBAC has a bearish chain read with 64/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 159.84–187.30; The largest call open-interest concentration is 200.00; the largest put concentration is 175.00. The most active strike by current volume is 190.00.
Priced range159.84–187.30
Call concentration200.00
Put concentration175.00
Max pain reference190.00
- Price remains weak while put-side concentration persists.
- Price recovers while put pressure fades or reverses toward calls.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 159.84 to 187.30. Max pain at 190.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
159.84173.57 ± 13.73187.30
Confirmation level
A close beyond 187.30 or below 159.84 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 64/100
Pressure is 93/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure93 × 42%
+39.0
How strongly activity leans toward calls or puts.
Participation45 × 22%
+9.8
Volume relative to existing open interest and contract-level activity.
Trend agreement38 × 26%
+9.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility55 × 10%
+5.5
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 200.00; the largest put concentration is 175.00. The most active strike by current volume is 190.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
3
140.00-19.3%
0
2
145.00-16.5%
2
3
150.00-13.6%
0
5
155.00-10.7%
0
0
160.00-7.8%
0
113
165.00-4.9%
0
9
170.00-2.1%
0
705
175.000.8%
2
5
180.003.7%
65
47
185.006.6%
6
68
190.009.5%
84
0
195.0012.3%
54
1
200.0015.2%
121
9
210.0021.0%
10
0
220.0026.8%
1
0
230.0032.5%
0
0
240.0038.3%
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.
0.34
21 Aug
22d
0.34
18 Sep
50d
0.33
16 Oct
78d
0.34
20 Nov
113d
0.32
18 Dec
141d
0.32
19 Mar
232d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
140
145
150
155
160
165
170
175
180
185
190
195
200
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 330 / 330
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options pressure and weekly price action are both cautionary.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $876098 of estimated gross traded notional, puts · 46-90 days · atm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-93
1W price-6.5%
Call premium1%
Put premium99%
Notional split
C 1% / P 99%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.19
Volume divided by open interest across the visible chain.
Trend fit
38/100
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.
Puts · 46-90 days · ATM
puts cluster with 1358 contracts traded, $807848 estimated gross traded notional, and 92% of visible notional.
$807848
Puts · 46-90 days · ITM
puts cluster with 50 contracts traded, $52750 estimated gross traded notional, and 6% of visible notional.
$52750
Calls · 46-90 days · OTM
calls cluster with 13 contracts traded, $5642 estimated gross traded notional, and 1% of visible notional.
$5642
Calls · 8-21 days · OTM
calls cluster with 11 contracts traded, $3052 estimated gross traded notional, and 0% of visible notional.
$3052
Calls · 91+ days · OTM
calls cluster with 7 contracts traded, $2820 estimated gross traded notional, and 0% of visible notional.
$2820
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.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close173.57
1W-6.5%
RS-18.9
Fair value-15.5%
Options pressure-93
Speculation45
Volatility55
Trend fit38
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:18
Bullish
Pressure 22
Move 6.9%
30 Jul 10:13
Bearish
Pressure -65
Move 9.3%
31 Jul 10:06
Bearish
Pressure -93
Move 7.9%
Strike Map
Where activity is clustering
Strike140.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike145.00
Calls · V 0 · OI 2
Puts · V 0 · OI 2
Strike150.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike155.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike160.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike165.00
Calls · V 0 · OI 0
Puts · V 0 · OI 113
Strike170.00
Calls · V 0 · OI 0
Puts · V 2 · OI 9
Strike175.00
Calls · V 0 · OI 2
Puts · V 2 · OI 705
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts44
Avg IV0.34
Put-call0.45
Expiry18 Sep 2026
Contracts58
Avg IV0.34
Put-call141.30
Expiry16 Oct 2026
Contracts56
Avg IV0.33
Put-call-
Expiry20 Nov 2026
Contracts56
Avg IV0.34
Put-call-
Expiry18 Dec 2026
Contracts60
Avg IV0.32
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.31
Put IV0.39
Skew0.08
18 Sep 2026Balanced skew
Call IV0.32
Put IV0.37
Skew0.05
16 Oct 2026Balanced skew
Call IV0.32
Put IV0.36
Skew0.04
20 Nov 2026Put IV premium
Call IV0.29
Put IV0.37
Skew0.08
18 Dec 2026Balanced skew
Call IV0.31
Put IV0.36
Skew0.05
Contract Tape
Most active contracts
ContractSBAC260918P00175000
SidePut
Expiry18 Sep 2026
Strike175.00
Volume1357
OI123
IV0.36
ContractSBAC260918P00185000
SidePut
Expiry18 Sep 2026
Strike185.00
Volume50
OI10
IV0.35
ContractSBAC260821C00190000
SideCall
Expiry21 Aug 2026
Strike190.00
Volume11
OI84
IV0.32
ContractSBAC260918C00195000
SideCall
Expiry18 Sep 2026
Strike195.00
Volume6
OI270
IV0.32
ContractSBAC260918P00165000
SidePut
Expiry18 Sep 2026
Strike165.00
Volume5
OI117
IV0.37
ContractSBAC260918C00190000
SideCall
Expiry18 Sep 2026
Strike190.00
Volume4
OI74
IV0.29
ContractSBAC270319C00220000
SideCall
Expiry19 Mar 2027
Strike220.00
Volume3
OI-
IV0.29
ContractSBAC260821P00175000
SidePut
Expiry21 Aug 2026
Strike175.00
Volume2
OI705
IV0.36
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.