Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SUN options intelligence
Sunoco LP options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
52
Market data through 31 Jul 2026
Checked 1 Aug 2026 15:57 · complete available chain
Call-side pressure
Bullish pressure
SUN currently carries bullish options pressure with a 52/100 conviction score. The nearest-chain expected move is 6.8%, with volume/open-interest participation at 0.01.
Expected move
6.8%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.10
Call-side skew
Trend fit
11
Options are not fully confirming trend
Weekly backdrop
+2.0%
RS 20.9
Expected move
6.8%
Put-call volume
0.10
Volume / OI
0.01
Reference IV
0.33
Max pain
67.50
Underlying
76.69
Nearest expiry
21 Aug 2026
Contracts
180
Research Brief
SUN has a bullish chain read with 52/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 71.46–81.92; The largest call open-interest concentration is 75.00; the largest put concentration is 67.50. The most active strike by current volume is 75.00.
Priced range71.46–81.92
Call concentration75.00
Put concentration67.50
Max pain reference67.50
- 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 71.46 to 81.92. Max pain at 67.50 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
71.4676.69 ± 5.2381.92
Confirmation level
A close beyond 81.92 or below 71.46 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 52/100
Pressure is 89/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure89 × 42%
+37.5
How strongly activity leans toward calls or puts.
Participation32 × 22%
+7.1
Volume relative to existing open interest and contract-level activity.
Trend agreement11 × 26%
+2.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility50 × 10%
+5.0
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 75.00; the largest put concentration is 67.50. The most active strike by current volume is 75.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
161
42.50-44.6%
0
1
45.00-41.3%
0
0
50.00-34.8%
86
127
55.00-28.3%
0
115
57.50-25.0%
0
41
60.00-21.8%
1
14
62.50-18.5%
15
9
65.00-15.2%
11
512
67.50-12.0%
43
28
70.00-8.7%
60
27
72.50-5.5%
137
15
75.00-2.2%
403
0
77.501.1%
72
11
80.004.3%
142
27
85.0010.8%
14
17
90.0017.4%
0
15
95.0023.9%
11
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.
0.33
21 Aug
21d
0.28
18 Sep
49d
0.29
18 Dec
140d
0.29
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
63
65
68
70
73
75
78
80
83
85
90
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
- 180 / 180
- 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 pointing in the same constructive direction.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $111712 of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+89
1W price+2.0%
Call premium80%
Put premium20%
Notional split
C 80% / P 20%
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
11/100
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.
Calls · 91+ days · OTM
calls cluster with 163 contracts traded, $61412 estimated gross traded notional, and 55% of visible notional.
$61412
Puts · 91+ days · ITM
puts cluster with 6 contracts traded, $16890 estimated gross traded notional, and 15% of visible notional.
$16890
Calls · 91+ days · ITM
calls cluster with 14 contracts traded, $12240 estimated gross traded notional, and 11% of visible notional.
$12240
Calls · 8-21 days · ITM
calls cluster with 14 contracts traded, $9380 estimated gross traded notional, and 8% of visible notional.
$9380
Calls · 8-21 days · ATM
calls cluster with 18 contracts traded, $4395 estimated gross traded notional, and 4% of visible notional.
$4395
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
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
Close76.69
1W+2.0%
RS20.9
Fair value+48.2%
Options pressure89
Speculation32
Volatility50
Trend fit11
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 10:24
Mixed
Pressure -2
Move 7.3%
30 Jul 10:21
Bullish
Pressure 98
Move 7.3%
31 Jul 06:28
Bullish
Pressure 79
Move 6.6%
31 Jul 13:39
Bullish
Pressure 46
Move 5.9%
1 Aug 14:57
Bullish
Pressure 89
Move 6.8%
Strike Map
Where activity is clustering
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike42.50
Calls · V 0 · OI 0
Puts · V 0 · OI 161
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike47.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 86
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 127
Strike57.50
Calls · V 0 · OI 0
Puts · V 0 · OI 115
Strike60.00
Calls · V 0 · OI 1
Puts · V 0 · OI 41
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts40
Avg IV0.33
Put-call0.20
Expiry18 Sep 2026
Contracts48
Avg IV0.28
Put-call1.00
Expiry18 Dec 2026
Contracts54
Avg IV0.29
Put-call-
Expiry19 Mar 2027
Contracts38
Avg IV0.29
Put-call0.04
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.25
Put IV0.41
Skew0.16
18 Sep 2026Put IV premium
Call IV0.26
Put IV0.37
Skew0.11
18 Dec 2026Put IV premium
Call IV0.24
Put IV0.36
Skew0.12
19 Mar 2027Put IV premium
Call IV0.23
Put IV0.38
Skew0.15
Contract Tape
Most active contracts
ContractSUN270319C00082500
SideCall
Expiry19 Mar 2027
Strike82.50
Volume160
OI304
IV0.22
ContractSUN260821C00070000
SideCall
Expiry21 Aug 2026
Strike70.00
Volume14
OI60
IV0.01
ContractSUN260821C00075000
SideCall
Expiry21 Aug 2026
Strike75.00
Volume12
OI403
IV0.25
ContractSUN261218C00072500
SideCall
Expiry18 Dec 2026
Strike72.50
Volume11
OI223
IV0.18
ContractSUN260918C00080000
SideCall
Expiry18 Sep 2026
Strike80.00
Volume8
OI90
IV0.25
ContractSUN260821C00077500
SideCall
Expiry21 Aug 2026
Strike77.50
Volume6
OI72
IV0.26
ContractSUN260918P00075000
SidePut
Expiry18 Sep 2026
Strike75.00
Volume6
OI69
IV0.35
ContractSUN260821P00075000
SidePut
Expiry21 Aug 2026
Strike75.00
Volume6
OI15
IV0.38
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.