Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
DLR options intelligence
Digital Realty Trust Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
50
Market data through 31 Jul 2026
Checked 1 Aug 2026 10:25 · complete available chain
Put-side pressure
Bearish pressure
DLR currently carries bearish options pressure with a 50/100 conviction score. The nearest-chain expected move is 5.8%, with volume/open-interest participation at 0.01.
Expected move
5.8%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
3.06
Put-side skew
Trend fit
46
Options are not fully confirming trend
Weekly backdrop
-5.3%
RS 0.3
Expected move
5.8%
Put-call volume
3.06
Volume / OI
0.01
Reference IV
0.18
Max pain
190.00
Underlying
199.08
Nearest expiry
7 Aug 2026
Contracts
970
Research Brief
DLR has a bearish chain read with 50/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 187.53–210.63; The largest call open-interest concentration is 200.00; the largest put concentration is 177.50. The most active strike by current volume is 187.50.
Priced range187.53–210.63
Call concentration200.00
Put concentration177.50
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 187.53 to 210.63. Max pain at 190.00 sits inside that range, 4.6% below spot.
Spot
Max pain
187.53199.08 ± 11.55210.63
Confirmation level
A close beyond 210.63 or below 187.53 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 50/100
Pressure is 61/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure61 × 42%
+25.5
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement46 × 26%
+11.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility36 × 10%
+3.6
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 177.50. The most active strike by current volume is 187.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
19
170.00-14.6%
0
4
175.00-12.1%
3
160
177.50-10.8%
1
136
180.00-9.6%
15
1
182.50-8.3%
2
5
185.00-7.1%
22
1
187.50-5.8%
0
17
190.00-4.6%
81
21
192.50-3.3%
9
2
195.00-2.0%
129
2
197.50-0.8%
8
2
200.000.5%
201
0
202.501.7%
34
8
205.003.0%
175
7
210.005.5%
42
0
220.0010.5%
30
0
265.0033.1%
6
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.18
7 Aug
7d
0.24
14 Aug
14d
0.28
21 Aug
21d
0.28
28 Aug
28d
0.29
4 Sep
35d
0.28
11 Sep
42d
0.29
18 Sep
49d
0.29
16 Oct
77d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
160
163
168
170
175
178
183
185
190
193
195
200
203
208
210
215
218
223
225
230
235
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
- 970 / 970
- 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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Options pressure and weekly price action are both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $141299 of estimated gross traded notional, puts · 8-21 days · otm, 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-61
1W price-5.3%
Call premium27%
Put premium73%
Notional split
C 27% / P 73%
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
46/100
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.
Puts · 8-21 days · OTM
puts cluster with 130 contracts traded, $43532 estimated gross traded notional, and 31% of visible notional.
$43532
Puts · 0-7 days · OTM
puts cluster with 152 contracts traded, $25470 estimated gross traded notional, and 18% of visible notional.
$25470
Puts · 46-90 days · OTM
puts cluster with 67 contracts traded, $23042 estimated gross traded notional, and 16% of visible notional.
$23042
Calls · 0-7 days · ITM
calls cluster with 23 contracts traded, $8355 estimated gross traded notional, and 6% of visible notional.
$8355
Calls · 46-90 days · ITM
calls cluster with 4 contracts traded, $7570 estimated gross traded notional, and 5% of visible notional.
$7570
Setup Classification
Opportunity and risk frame
The signal is live, but the strongest framework tags are still developing.
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
Close188.52
1W-5.3%
RS0.3
Fair value+22.7%
Options pressure-61
Speculation40
Volatility36
Trend fit46
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 10:05
Mixed
Pressure 8
Move 4.2%
30 Jul 12:26
Bullish
Pressure 34
Move 6.3%
31 Jul 11:53
Bearish
Pressure -56
Move 3.8%
31 Jul 15:27
Bearish
Pressure -26
Move 4.6%
31 Jul 17:02
Volatility
Pressure -26
Move 4.9%
31 Jul 18:45
Volatility
Pressure -34
Move 5.0%
31 Jul 19:41
Bearish
Pressure -34
Move 5.0%
31 Jul 20:52
Volatility
Pressure -31
Move 5.9%
Strike Map
Where activity is clustering
Strike100.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike115.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike125.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike130.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike135.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts102
Avg IV0.18
Put-call3.33
Expiry14 Aug 2026
Contracts96
Avg IV0.24
Put-call0.15
Expiry21 Aug 2026
Contracts96
Avg IV0.28
Put-call8.20
Expiry28 Aug 2026
Contracts68
Avg IV0.28
Put-call-
Expiry4 Sep 2026
Contracts68
Avg IV0.29
Put-call-
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.34
Put IV0.31
Skew-0.03
14 Aug 2026Balanced skew
Call IV0.30
Put IV0.31
Skew0.01
21 Aug 2026Balanced skew
Call IV0.30
Put IV0.31
Skew0.01
28 Aug 2026Balanced skew
Call IV0.28
Put IV0.29
Skew0.01
4 Sep 2026Balanced skew
Call IV0.32
Put IV0.29
Skew-0.03
Contract Tape
Most active contracts
ContractDLR260821P00185000
SidePut
Expiry21 Aug 2026
Strike185.00
Volume121
OI39
IV0.29
ContractDLR260807P00187500
SidePut
Expiry7 Aug 2026
Strike187.50
Volume69
OI1
IV0.26
ContractDLR260807P00182500
SidePut
Expiry7 Aug 2026
Strike182.50
Volume38
OI1
IV0.31
ContractDLR260807P00180000
SidePut
Expiry7 Aug 2026
Strike180.00
Volume22
OI136
IV0.34
ContractDLR260814C00195000
SideCall
Expiry14 Aug 2026
Strike195.00
Volume20
OI6
IV0.29
ContractDLR260918P00175000
SidePut
Expiry18 Sep 2026
Strike175.00
Volume17
OI416
IV0.32
ContractDLR260918P00180000
SidePut
Expiry18 Sep 2026
Strike180.00
Volume17
OI136
IV0.31
ContractDLR260814C00200000
SideCall
Expiry14 Aug 2026
Strike200.00
Volume17
OI77
IV0.30
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.