Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
BX options intelligence
Blackstone Group Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 31 Jul 2026
Checked 1 Aug 2026 10:29 · complete available chain
Call-side pressure
Bullish pressure
BX currently carries bullish options pressure with a 37/100 conviction score. The nearest-chain expected move is 4.7%, with volume/open-interest participation at 0.05.
Expected move
4.7%
Near-term move context
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.52
Call-side skew
Trend fit
44
Options are not fully confirming trend
Weekly backdrop
-1.7%
RS -14.9
Expected move
4.7%
Put-call volume
0.52
Volume / OI
0.05
Reference IV
0.40
Max pain
128.00
Underlying
130.00
Nearest expiry
7 Aug 2026
Contracts
1380
Research Brief
BX has a bullish chain read with 37/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 123.92–136.08; The largest call open-interest concentration is 135.00; the largest put concentration is 128.00. The most active strike by current volume is 134.00.
Priced range123.92–136.08
Call concentration135.00
Put concentration128.00
Max pain reference128.00
- 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 123.92 to 136.08. Max pain at 128.00 sits inside that range, 1.5% below spot.
Spot
Max pain
123.92130.00 ± 6.08136.08
Confirmation level
A close beyond 136.08 or below 123.92 at the 7 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 37/100
Pressure is 27/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure27 × 42%
+11.5
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement44 × 26%
+11.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility47 × 10%
+4.7
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 135.00; the largest put concentration is 128.00. The most active strike by current volume is 134.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
32
115.00-11.5%
53
25
118.00-9.2%
3
47
119.00-8.5%
76
277
120.00-7.7%
10
113
121.00-6.9%
52
53
122.00-6.2%
123
52
124.00-4.6%
238
506
125.00-3.8%
119
111
127.00-2.3%
66
545
128.00-1.5%
304
54
129.00-0.8%
176
164
130.000.0%
244
33
131.000.8%
161
4
133.002.3%
453
4
134.003.1%
80
4
135.003.8%
484
1
140.007.7%
250
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.
0.40
7 Aug
7d
0.40
14 Aug
14d
0.39
21 Aug
21d
0.39
28 Aug
28d
0.38
4 Sep
35d
0.37
11 Sep
42d
0.38
18 Sep
49d
0.38
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
104
106
109
111
113
116
118
120
122
125
127
129
132
134
136
138
141
143
145
148
155
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
- 1380 / 1380
- 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
Call activity against legacy put OI
Call activity is dominant while put open interest remains large but current put volume is not leading.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Call activity against legacy put OI matters because it connects the options headline to the actual evidence: $27.2M of estimated gross traded notional, calls · 8-21 days · itm, 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+27
1W price-1.7%
Call premium90%
Put premium10%
Notional split
C 90% / P 10%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
44/100
Agreement between options pressure and Sharemaestro market context.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Do not infer a hedge unwind without next-session open-interest changes and opening/closing data.
Calls · 8-21 days · ITM
calls cluster with 4650 contracts traded, $9.7M estimated gross traded notional, and 36% of visible notional.
$9.7M
Calls · 91+ days · ITM
calls cluster with 1228 contracts traded, $7.2M estimated gross traded notional, and 27% of visible notional.
$7.2M
Calls · 46-90 days · ITM
calls cluster with 1264 contracts traded, $4.9M estimated gross traded notional, and 18% of visible notional.
$4.9M
Calls · 0-7 days · ITM
calls cluster with 1537 contracts traded, $1.3M estimated gross traded notional, and 5% of visible notional.
$1.3M
Puts · 8-21 days · OTM
puts cluster with 3607 contracts traded, $1.2M estimated gross traded notional, and 4% of visible notional.
$1.2M
Setup Classification
Opportunity and risk frame
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
Close127.75
1W-1.7%
RS-14.9
Fair value-3.5%
Options pressure27
Speculation41
Volatility47
Trend fit44
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 10:01
Bearish
Pressure -44
Move 5.1%
30 Jul 08:42
Mixed
Pressure -11
Move 3.5%
30 Jul 15:10
Bearish
Pressure -25
Move 2.7%
30 Jul 15:32
Bearish
Pressure -24
Move 3.1%
30 Jul 18:02
Bearish
Pressure -21
Move 1.8%
30 Jul 18:22
Bearish
Pressure -18
Move 1.9%
30 Jul 19:32
Bearish
Pressure -41
Move 1.9%
31 Jul 11:11
Bearish
Pressure -44
Move 2.3%
Strike Map
Where activity is clustering
Strike65.00
Calls · V 4 · OI 0
Puts · V 1 · OI 3
Strike70.00
Calls · V 1 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike95.00
Calls · V 5 · OI 0
Puts · V 8 · OI 16
Strike100.00
Calls · V 0 · OI 1
Puts · V 0 · OI 23
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts124
Avg IV0.40
Put-call0.25
Expiry14 Aug 2026
Contracts116
Avg IV0.40
Put-call0.21
Expiry21 Aug 2026
Contracts104
Avg IV0.39
Put-call0.64
Expiry28 Aug 2026
Contracts106
Avg IV0.39
Put-call0.54
Expiry4 Sep 2026
Contracts102
Avg IV0.38
Put-call0.18
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV0.33
Put IV0.45
Skew0.13
14 Aug 2026Put IV premium
Call IV0.35
Put IV0.43
Skew0.09
21 Aug 2026Put IV premium
Call IV0.36
Put IV0.43
Skew0.08
28 Aug 2026Put IV premium
Call IV0.36
Put IV0.42
Skew0.07
4 Sep 2026Put IV premium
Call IV0.36
Put IV0.42
Skew0.07
Contract Tape
Most active contracts
ContractBX260821C00110000
SideCall
Expiry21 Aug 2026
Strike110.00
Volume2945
OI522
IV0.01
ContractBX260821P00125000
SidePut
Expiry21 Aug 2026
Strike125.00
Volume2547
OI2639
IV0.43
ContractBX260918P00120000
SidePut
Expiry18 Sep 2026
Strike120.00
Volume1175
OI3119
IV0.41
ContractBX260821C00105000
SideCall
Expiry21 Aug 2026
Strike105.00
Volume885
OI130
IV0.01
ContractBX260918C00080000
SideCall
Expiry18 Sep 2026
Strike80.00
Volume640
OI81
IV0.01
ContractBX260807C00134000
SideCall
Expiry7 Aug 2026
Strike134.00
Volume635
OI80
IV0.34
ContractBX260821P00120000
SidePut
Expiry21 Aug 2026
Strike120.00
Volume501
OI3474
IV0.43
ContractBX260807P00118000
SidePut
Expiry7 Aug 2026
Strike118.00
Volume490
OI25
IV0.47
Research Graph
Related research and context
Sharemaestro research
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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.