Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
IIPR options intelligence
Innovative Industrial Properties Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 31 Jul 2026
Checked 1 Aug 2026 06:06 · complete available chain
Call-side pressure
Bullish pressure
IIPR currently carries bullish options pressure with a 40/100 conviction score. The nearest-chain expected move is 8.0%, with volume/open-interest participation at 0.02.
Expected move
8.0%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.66
Call-side skew
Trend fit
87
Options agree with trend context
Weekly backdrop
-4.6%
RS 11.6
Expected move
8.0%
Put-call volume
0.66
Volume / OI
0.02
Reference IV
0.42
Max pain
60.00
Underlying
61.48
Nearest expiry
21 Aug 2026
Contracts
164
Research Brief
IIPR has a bullish chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 56.55–66.41; The largest call open-interest concentration is 70.00; the largest put concentration is 60.00. The most active strike by current volume is 65.00.
Priced range56.55–66.41
Call concentration70.00
Put concentration60.00
Max pain reference60.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 56.55 to 66.41. Max pain at 60.00 sits inside that range, 2.4% below spot.
Spot
Max pain
56.5561.48 ± 4.9366.41
Confirmation level
A close beyond 66.41 or below 56.55 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 40/100
Pressure is 21/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure21 × 42%
+9.0
How strongly activity leans toward calls or puts.
Participation9 × 22%
+2.0
Volume relative to existing open interest and contract-level activity.
Trend agreement87 × 26%
+22.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility61 × 10%
+6.1
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 70.00; the largest put concentration is 60.00. The most active strike by current volume is 65.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
7
30.00-51.2%
0
0
35.00-43.1%
0
3
40.00-34.9%
0
3
45.00-26.8%
0
58
50.00-18.7%
0
410
55.00-10.5%
3
588
60.00-2.4%
99
66
65.005.7%
584
15
70.0013.9%
1090
0
75.0022.0%
110
0
80.0030.1%
2
0
85.0038.3%
2
0
90.0046.4%
8
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.
0.42
21 Aug
21d
0.39
18 Sep
49d
0.40
16 Oct
77d
0.38
18 Dec
140d
0.38
15 Jan
168d
0.38
17 Jun
321d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
50
55
60
65
70
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 164 / 164
- 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 are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $89217 of estimated gross traded notional, puts · 46-90 days · atm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+21
1W price-4.6%
Call premium51%
Put premium49%
Notional split
C 51% / P 49%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
87/100
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 30 contracts traded, $15750 estimated gross traded notional, and 18% of visible notional.
$15750
Calls · 8-21 days · ATM
calls cluster with 61 contracts traded, $11285 estimated gross traded notional, and 13% of visible notional.
$11285
Puts · 8-21 days · OTM
puts cluster with 102 contracts traded, $11132 estimated gross traded notional, and 12% of visible notional.
$11132
Calls · 91+ days · ITM
calls cluster with 3 contracts traded, $8700 estimated gross traded notional, and 10% of visible notional.
$8700
Puts · 8-21 days · ATM
puts cluster with 23 contracts traded, $7072 estimated gross traded notional, and 8% of visible notional.
$7072
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
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
Close61.48
1W-4.6%
RS11.6
Fair value-4.7%
Options pressure21
Speculation9
Volatility61
Trend fit87
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 11:05
Bullish
Pressure 71
Move 8.7%
30 Jul 10:53
Bullish
Pressure 60
Move 8.7%
31 Jul 10:35
Bullish
Pressure 64
Move 8.4%
31 Jul 17:34
Bullish
Pressure 54
Move 8.0%
1 Aug 05:06
Bullish
Pressure 21
Move 8.0%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 7
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike50.00
Calls · V 0 · OI 0
Puts · V 1 · OI 58
Strike55.00
Calls · V 0 · OI 3
Puts · V 101 · OI 410
Strike60.00
Calls · V 61 · OI 99
Puts · V 23 · OI 588
Strike65.00
Calls · V 109 · OI 584
Puts · V 2 · OI 66
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts26
Avg IV0.42
Put-call0.64
Expiry18 Sep 2026
Contracts26
Avg IV0.39
Put-call0.23
Expiry16 Oct 2026
Contracts28
Avg IV0.40
Put-call3.00
Expiry18 Dec 2026
Contracts28
Avg IV0.38
Put-call-
Expiry15 Jan 2027
Contracts28
Avg IV0.38
Put-call0.39
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.41
Put IV0.48
Skew0.08
18 Sep 2026Balanced skew
Call IV0.38
Put IV0.38
Skew-
16 Oct 2026Balanced skew
Call IV0.35
Put IV0.39
Skew0.04
18 Dec 2026Put IV premium
Call IV0.31
Put IV0.46
Skew0.16
15 Jan 2027Put IV premium
Call IV0.28
Put IV0.43
Skew0.16
Contract Tape
Most active contracts
ContractIIPR260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume109
OI584
IV0.41
ContractIIPR260821P00055000
SidePut
Expiry21 Aug 2026
Strike55.00
Volume101
OI410
IV0.48
ContractIIPR260821C00060000
SideCall
Expiry21 Aug 2026
Strike60.00
Volume61
OI99
IV0.41
ContractIIPR260918C00065000
SideCall
Expiry18 Sep 2026
Strike65.00
Volume37
OI158
IV0.38
ContractIIPR261016P00060000
SidePut
Expiry16 Oct 2026
Strike60.00
Volume30
OI138
IV0.45
ContractIIPR260821C00070000
SideCall
Expiry21 Aug 2026
Strike70.00
Volume24
OI1090
IV0.45
ContractIIPR260821P00060000
SidePut
Expiry21 Aug 2026
Strike60.00
Volume23
OI588
IV0.44
ContractIIPR260918C00060000
SideCall
Expiry18 Sep 2026
Strike60.00
Volume15
OI14
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.