Ticker Options Intelligence

LTM options intelligence

LATAM Airlines Group S.A. options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 32 Market data through 30 Jul 2026 Checked 31 Jul 2026 11:07 · complete available chain

Options-market disagreement

Mixed pressure

LTM currently carries mixed options pressure with a 32/100 conviction score. The nearest-chain expected move is 13.6%, with volume/open-interest participation at 0.01.

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

Options-market disagreement

Expected move 13.6%

Wider near-term move priced

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 1.36

Put-side skew

Trend fit 73

Options agree with trend context

Weekly backdrop +5.2%

RS -4.2

Expected move 13.6%
Put-call volume 1.36
Volume / OI 0.01
Reference IV 0.47
Max pain 50.00
Underlying 50.15
Nearest expiry 21 Aug 2026
Contracts 112

Research Brief

LTM has a mixed chain read with 32/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 43.33–56.97; The largest call open-interest concentration is 55.00; the largest put concentration is 50.00. The most active strike by current volume is 40.00.

Priced range43.33–56.97
Call concentration55.00
Put concentration50.00
Max pain reference50.00
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.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 43.33 to 56.97. Max pain at 50.00 sits inside that range, 0.3% below spot.

Spot Max pain
43.3350.15 ± 6.8256.97
Confirmation level

A close beyond 56.97 or below 43.33 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 32/100

Evidence alignment, not probability

Pressure is 12/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure12 × 42%
+5.1

How strongly activity leans toward calls or puts.

Participation1 × 22%
+0.3

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

Trend agreement73 × 26%
+19.0

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

Volatility73 × 10%
+7.3

The intensity of implied volatility and the priced move.

Reconstructed score31.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 55.00; the largest put concentration is 50.00. The most active strike by current volume is 40.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
30.00-40.2%
0
0
35.00-30.2%
0
0
40.00-20.2%
0
10
45.00-10.3%
2
86
50.00-0.3%
19
2
55.009.7%
75
10
60.0019.6%
21
0
65.0029.6%
15
0
70.0039.6%
0
0
75.0049.6%
0
0
80.0059.5%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

1.02× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

0.47 21 Aug 22d
0.47 18 Sep 50d
0.50 20 Nov 113d
0.49 18 Dec 141d
0.46 19 Mar 232d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

45
50
55
60
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
30 Jul 2026
Calculation
v2.0
Contracts
112 / 112
  • 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

76/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $16512 of estimated gross traded notional, calls · 8-21 days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-12
1W price+5.2%
Call premium55%
Put premium45%
Notional split C 55% / P 45% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.01 Volume divided by open interest across the visible chain.
Trend fit 73/100 Agreement between options pressure and Sharemaestro market context.
Event window 4 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.
Conviction clusters Calls · 8-21 days · ITM
Calls · 8-21 days · ITM calls cluster with 6 contracts traded, $8280 estimated gross traded notional, and 50% of visible notional.
$8280
Puts · 46-90 days · ATM puts cluster with 30 contracts traded, $7350 estimated gross traded notional, and 45% of visible notional.
$7350
Calls · 46-90 days · OTM calls cluster with 15 contracts traded, $675 estimated gross traded notional, and 4% of visible notional.
$675
Calls · 8-21 days · OTM calls cluster with 1 contracts traded, $208 estimated gross traded notional, and 1% of visible notional.
$208

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.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

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

Sharemaestro weekly
Close52.76
1W+5.2%
RS-4.2
Fair value+58.5%
Options pressure-12
Speculation1
Volatility73
Trend fit73

Today Versus Normal

Stored-options context

View history
Expected move 13.6% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 0.47 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 1.36 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.01 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:22 Bullish
Pressure 34
Move 12.5%
30 Jul 10:16 Bullish
Pressure 29
Move 11.7%
31 Jul 10:07 Mixed
Pressure -12
Move 13.6%

Strike Map

Where activity is clustering

Full strike map
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 6 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 2
Puts · V 0 · OI 10
Strike50.00
Calls · V 0 · OI 19
Puts · V 0 · OI 86
Strike55.00
Calls · V 1 · OI 75
Puts · V 0 · OI 2
Strike60.00
Calls · V 0 · OI 21
Puts · V 0 · OI 10
Strike65.00
Calls · V 0 · OI 15
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.47
Put-call-
Expiry18 Sep 2026
Contracts24
Avg IV0.47
Put-call2.00
Expiry20 Nov 2026
Contracts22
Avg IV0.50
Put-call-
Expiry18 Dec 2026
Contracts22
Avg IV0.49
Put-call-
Expiry19 Mar 2027
Contracts22
Avg IV0.46
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.47
Put IV0.70
Skew0.22
18 Sep 2026Put IV premium
Call IV0.45
Put IV0.55
Skew0.10
20 Nov 2026Put IV premium
Call IV0.43
Put IV0.53
Skew0.10
18 Dec 2026Balanced skew
Call IV0.48
Put IV0.51
Skew0.03
19 Mar 2027Put IV premium
Call IV0.41
Put IV0.49
Skew0.09

Contract Tape

Most active contracts

Full contract tape
ContractLTM260918P00050000
SidePut
Expiry18 Sep 2026
Strike50.00
Volume30
OI229
IV0.55
ContractLTM260918C00070000
SideCall
Expiry18 Sep 2026
Strike70.00
Volume15
OI277
IV0.50
ContractLTM260821C00040000
SideCall
Expiry21 Aug 2026
Strike40.00
Volume6
OI-
IV0.01
ContractLTM260821C00055000
SideCall
Expiry21 Aug 2026
Strike55.00
Volume1
OI75
IV0.47
ContractLTM261218C00060000
SideCall
Expiry18 Dec 2026
Strike60.00
Volume-
OI494
IV0.43
ContractLTM261120P00050000
SidePut
Expiry20 Nov 2026
Strike50.00
Volume-
OI492
IV0.53
ContractLTM261218C00070000
SideCall
Expiry18 Dec 2026
Strike70.00
Volume-
OI483
IV0.48
ContractLTM261120P00040000
SidePut
Expiry20 Nov 2026
Strike40.00
Volume-
OI384
IV0.22