Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
CLMT options intelligence
Calumet Specialty Products Partners options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
56
Market data through 29 Jul 2026
Checked 30 Jul 2026 02:06 · complete available chain
Volatility expansion watch
Volatility pressure
CLMT currently carries volatility options pressure with a 56/100 conviction score. The nearest-chain expected move is 13.4%, with volume/open-interest participation at 0.01.
Expected move
13.4%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.30
Call-side skew
Trend fit
61
Options agree with trend context
Weekly backdrop
-2.7%
RS 52.2
Expected move
13.4%
Put-call volume
0.30
Volume / OI
0.01
Reference IV
0.68
Max pain
35.00
Underlying
41.69
Nearest expiry
21 Aug 2026
Contracts
404
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 are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $685860 of estimated gross traded notional, calls · 91+ days · itm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+53
1W price-2.7%
Call premium85%
Put premium15%
Notional split
C 85% / P 15%
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
61/100
Agreement between options pressure and Sharemaestro market context.
Event window
7 Aug
Matched earnings event is 8 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 · ITM
calls cluster with 258 contracts traded, $361605 estimated gross traded notional, and 53% of visible notional.
$361605
Calls · 22-45 days · OTM
calls cluster with 610 contracts traded, $101350 estimated gross traded notional, and 15% of visible notional.
$101350
Calls · 91+ days · OTM
calls cluster with 156 contracts traded, $79042 estimated gross traded notional, and 12% of visible notional.
$79042
Puts · 91+ days · OTM
puts cluster with 147 contracts traded, $43970 estimated gross traded notional, and 6% of visible notional.
$43970
Calls · 91+ days · ATM
calls cluster with 40 contracts traded, $29200 estimated gross traded notional, and 4% of visible notional.
$29200
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.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Volume rank100th
Volume/OI rank100th
IV rank100th
Market Context
Underlying confirmation
Close41.69
1W-2.7%
RS52.2
Fair value+99.3%
Options pressure53
Speculation40
Volatility87
Trend fit61
Today Versus Normal
Stored-options context
30d avg 13.0% · 1 read
100th
90d avg 13.0% · 1 read
100th
180d avg 13.0% · 1 read
100th
30d avg 0.63 · 1 read
100th
90d avg 0.63 · 1 read
100th
180d avg 0.63 · 1 read
100th
30d avg 0.19 · 1 read
100th
90d avg 0.19 · 1 read
100th
180d avg 0.19 · 1 read
100th
30d avg 0.01 · 1 read
100th
90d avg 0.01 · 1 read
100th
180d avg 0.01 · 1 read
100th
Pressure Trail
Recent pressure and volatility
29 Jul 10:54
Volatility
Pressure 67
Move 13.0%
30 Jul 01:06
Volatility
Pressure 53
Move 13.4%
Strike Map
Where activity is clustering
Strike12.00
Calls · V 0 · OI 0
Puts · V 0 · OI 36
Strike13.00
Calls · V 0 · OI 0
Puts · V 0 · OI 353
Strike14.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2379
Strike16.00
Calls · V 0 · OI 1
Puts · V 0 · OI 166
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike18.00
Calls · V 0 · OI 100
Puts · V 0 · OI 1027
Strike19.00
Calls · V 0 · OI 100
Puts · V 0 · OI 50
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts70
Avg IV0.68
Put-call0.24
Expiry18 Sep 2026
Contracts46
Avg IV0.62
Put-call0.04
Expiry20 Nov 2026
Contracts70
Avg IV0.61
Put-call1.35
Expiry15 Jan 2027
Contracts44
Avg IV0.59
Put-call0.25
Expiry19 Feb 2027
Contracts54
Avg IV0.57
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.66
Put IV0.67
Skew0.01
18 Sep 2026Balanced skew
Call IV0.61
Put IV0.64
Skew0.03
20 Nov 2026Balanced skew
Call IV0.60
Put IV0.62
Skew0.02
15 Jan 2027Balanced skew
Call IV0.58
Put IV0.60
Skew0.02
19 Feb 2027Balanced skew
Call IV0.55
Put IV0.58
Skew0.03
Contract Tape
Most active contracts
ContractCLMT260821C00045000
SideCall
Expiry21 Aug 2026
Strike45.00
Volume340
OI4455
IV0.67
ContractCLMT260821C00050000
SideCall
Expiry21 Aug 2026
Strike50.00
Volume142
OI364
IV0.66
ContractCLMT260821C00043000
SideCall
Expiry21 Aug 2026
Strike43.00
Volume108
OI762
IV0.68
ContractCLMT270115C00040000
SideCall
Expiry15 Jan 2027
Strike40.00
Volume57
OI690
IV0.59
ContractCLMT260821P00043000
SidePut
Expiry21 Aug 2026
Strike43.00
Volume49
OI1002
IV0.65
ContractCLMT270115C00045000
SideCall
Expiry15 Jan 2027
Strike45.00
Volume46
OI992
IV0.59
ContractCLMT270115P00035000
SidePut
Expiry15 Jan 2027
Strike35.00
Volume44
OI691
IV0.60
ContractCLMT270319C00055000
SideCall
Expiry19 Mar 2027
Strike55.00
Volume43
OI1507
IV0.59
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.