Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
LII options intelligence
Lennox International Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
36
Market data through 31 Jul 2026
Checked 1 Aug 2026 19:51 · complete available chain
Call-side pressure
Bullish pressure
LII currently carries bullish options pressure with a 36/100 conviction score. The nearest-chain expected move is 7.6%, with volume/open-interest participation at 0.06.
Expected move
7.6%
Wider near-term move priced
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.35
Call-side skew
Trend fit
18
Options are not fully confirming trend
Weekly backdrop
-23.1%
RS -26.1
Expected move
7.6%
Put-call volume
0.35
Volume / OI
0.06
Reference IV
0.40
Max pain
430.00
Underlying
415.88
Nearest expiry
21 Aug 2026
Contracts
418
Research Brief
LII has a bullish chain read with 36/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 384.08–447.68; The largest call open-interest concentration is 430.00; the largest put concentration is 410.00. The most active strike by current volume is 590.00.
Priced range384.08–447.68
Call concentration430.00
Put concentration410.00
Max pain reference430.00
- 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 384.08 to 447.68. Max pain at 430.00 sits inside that range, 3.4% above spot.
Spot
Max pain
384.08415.88 ± 31.80447.68
Confirmation level
A close beyond 447.68 or below 384.08 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 36/100
Pressure is 48/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure48 × 42%
+20.2
How strongly activity leans toward calls or puts.
Participation25 × 22%
+5.6
Volume relative to existing open interest and contract-level activity.
Trend agreement18 × 26%
+4.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility59 × 10%
+5.9
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 430.00; the largest put concentration is 410.00. The most active strike by current volume is 590.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
26
370.00-11.0%
0
30
390.00-6.2%
0
18
400.00-3.8%
13
62
410.00-1.4%
6
9
420.001.0%
5
7
430.003.4%
35
2
440.005.8%
3
3
450.008.2%
2
4
480.0015.4%
2
12
510.0022.6%
0
4
520.0025.0%
2
22
540.0029.8%
22
0
550.0032.2%
8
0
570.0037.1%
24
0
590.0041.9%
32
0
600.0044.3%
17
0
660.0058.7%
13
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
21 Aug
21d
0.39
18 Sep
49d
0.40
18 Dec
140d
0.40
19 Mar
231d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
340
350
360
370
380
390
400
410
420
430
440
450
460
470
480
490
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
- 418 / 418
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $250358 of estimated gross traded notional, puts · 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+48
1W price-23.1%
Call premium60%
Put premium40%
Notional split
C 60% / P 40%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
18/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Puts · 8-21 days · ITM
puts cluster with 4 contracts traded, $67355 estimated gross traded notional, and 27% of visible notional.
$67355
Calls · 46-90 days · ITM
calls cluster with 17 contracts traded, $65070 estimated gross traded notional, and 26% of visible notional.
$65070
Calls · 91+ days · OTM
calls cluster with 24 contracts traded, $59555 estimated gross traded notional, and 24% of visible notional.
$59555
Calls · 91+ days · ATM
calls cluster with 3 contracts traded, $14190 estimated gross traded notional, and 6% of visible notional.
$14190
Puts · 91+ days · ITM
puts cluster with 1 contracts traded, $9310 estimated gross traded notional, and 4% of visible notional.
$9310
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
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
Close415.88
1W-23.1%
RS-26.1
Fair value-19.3%
Options pressure48
Speculation25
Volatility59
Trend fit18
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 10:20
Mixed
Pressure 4
Move 9.1%
30 Jul 10:15
Mixed
Pressure -16
Move 25.0%
31 Jul 10:06
Mixed
Pressure 14
Move 27.2%
1 Aug 18:51
Bullish
Pressure 48
Move 7.6%
Strike Map
Where activity is clustering
Strike300.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike310.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike320.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike330.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike340.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike350.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike360.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike370.00
Calls · V 0 · OI 0
Puts · V 0 · OI 26
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts88
Avg IV0.40
Put-call0.50
Expiry18 Sep 2026
Contracts114
Avg IV0.39
Put-call0.48
Expiry18 Dec 2026
Contracts108
Avg IV0.40
Put-call0.20
Expiry19 Mar 2027
Contracts108
Avg IV0.40
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.43
Put IV0.41
Skew-0.02
18 Sep 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
18 Dec 2026Balanced skew
Call IV0.40
Put IV0.41
Skew0.01
19 Mar 2027Balanced skew
Call IV0.39
Put IV0.41
Skew0.02
Contract Tape
Most active contracts
ContractLII260918C00400000
SideCall
Expiry18 Sep 2026
Strike400.00
Volume10
OI6
IV0.41
ContractLII260821C00590000
SideCall
Expiry21 Aug 2026
Strike590.00
Volume8
OI32
IV0.45
ContractLII261218C00450000
SideCall
Expiry18 Dec 2026
Strike450.00
Volume8
OI8
IV0.41
ContractLII260918C00390000
SideCall
Expiry18 Sep 2026
Strike390.00
Volume6
OI3
IV0.43
ContractLII261218C00440000
SideCall
Expiry18 Dec 2026
Strike440.00
Volume5
OI2
IV0.40
ContractLII261218P00350000
SidePut
Expiry18 Dec 2026
Strike350.00
Volume3
OI12
IV0.42
ContractLII261218C00480000
SideCall
Expiry18 Dec 2026
Strike480.00
Volume3
OI11
IV0.38
ContractLII261218C00410000
SideCall
Expiry18 Dec 2026
Strike410.00
Volume3
OI1
IV0.41
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
No upcoming matched earnings event.
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.