Ticker Options Intelligence

TSLX options intelligence

Sixth Street Specialty Lending Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 27 Market data through 3 Aug 2026 Checked 4 Aug 2026 03:32 · complete available chain

Options-market disagreement

Mixed pressure

TSLX currently carries mixed options pressure with a 27/100 conviction score. The nearest-chain expected move is 5.7%, with volume/open-interest participation at 0.01.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Mixed

Options-market disagreement

Expected move 5.7%

Near-term move context

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 0.70

Call-side skew

Trend fit 51

Options are not fully confirming trend

Weekly backdrop +2.6%

RS -18.2

Expected move 5.7%
Put-call volume 0.70
Volume / OI 0.01
Reference IV 0.52
Max pain 17.50
Underlying 17.16
Nearest expiry 21 Aug 2026
Contracts 104

Research Brief

TSLX has a mixed chain read with 27/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 16.19–18.13; The largest call open-interest concentration is 17.50; the largest put concentration is 17.50. The most active strike by current volume is 17.50.

Priced range16.19–18.13
Call concentration17.50
Put concentration17.50
Max pain reference17.50
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Options and the weekly trend are not yet giving the same message.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 16.19 to 18.13. Max pain at 17.50 sits inside that range, 2.0% above spot.

Spot Max pain
16.1917.16 ± 0.9718.13
Confirmation level

A close beyond 18.13 or below 16.19 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 27/100

Evidence alignment, not probability

Pressure is 18/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure18 × 42%
+7.5

How strongly activity leans toward calls or puts.

Participation1 × 22%
+0.2

Volume relative to existing open interest and contract-level activity.

Trend agreement51 × 26%
+13.4

How closely the chain read agrees with the underlying trend backdrop.

Volatility59 × 10%
+5.9

The intensity of implied volatility and the priced move.

Reconstructed score27.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 17.50; the largest put concentration is 17.50. The most active strike by current volume is 17.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
2.50-85.4%
0
0
5.00-70.9%
0
0
7.50-56.3%
0
0
10.00-41.7%
0
1
12.50-27.2%
0
305
15.00-12.6%
0
365
17.502.0%
215
0
20.0016.6%
102
0
22.5031.1%
0
0
25.0045.7%
0
0
30.0074.8%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported + model-estimated Greeks · 98% coverage

Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile+$85,383Delta change / 1% move
Positive peak20.00+$82,303
Negative peak15.00-$20,165
Nearest balance15.88Interpolated sign change
StrikeNegativePositiveNet / 1% move
5.00-70.9%
-$2
10.00-41.7%
-$938
12.50-27.2%
-$251
15.00-12.6%
-$20,165
17.502.0%
+$37,025
20.0016.6%
+$82,303
22.5031.1%
-$1,712
25.0045.7%
-$2,812
30.0074.8%
-$6,042
35.00104.0%
-$2,023
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike

Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.

Volatility Curve

Front-loaded volatility

2.83× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.52 21 Aug 18d
0.28 18 Sep 46d
0.32 20 Nov 109d
0.31 18 Dec 137d
0.18 19 Mar 228d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

15
18
20
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

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
  • Auditable calculationoriginal version retained
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

High

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
3 Aug 2026
Calculation
v2.0
Contracts
104 / 104
  • 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

72/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $4,212 of estimated gross traded notional, calls · 22-45 days · atm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+18
1W price+2.6%
Call premium53%
Put premium47%
Notional split C 53% / P 47% 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 51/100 Agreement between options pressure and Sharemaestro market context.
Event window 4 Aug Matched earnings event is 0 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 22-45 days · ATM
Calls · 22-45 days · ATM calls cluster with 30 contracts traded, $2,250 estimated gross traded notional, and 53% of visible notional.
$2,250
Puts · 91+ days · ITM puts cluster with 2 contracts traded, $690 estimated gross traded notional, and 16% of visible notional.
$690
Puts · 8-21 days · ATM puts cluster with 10 contracts traded, $575 estimated gross traded notional, and 14% of visible notional.
$575
Puts · 22-45 days · ATM puts cluster with 6 contracts traded, $555 estimated gross traded notional, and 13% of visible notional.
$555
Puts · 91+ days · ATM puts cluster with 1 contracts traded, $128 estimated gross traded notional, and 3% of visible notional.
$128

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Activity Anomaly

Warming up

-

4 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 4 completed sessions

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close17.16
1W+2.6%
RS-18.2
Fair value-6.0%
Options pressure18
Speculation1
Volatility59
Trend fit51

Today Versus Normal

Stored-options context

View history
Expected move 5.7% history building
30d avg - · 4/10 sessions -
90d avg - · 4/30 sessions -
180d avg - · 4/60 sessions -
IV 0.52 history building
30d avg - · 4/10 sessions -
90d avg - · 4/30 sessions -
180d avg - · 4/60 sessions -
Put-call 0.70 history building
30d avg - · 4/10 sessions -
90d avg - · 4/30 sessions -
180d avg - · 4/60 sessions -
Volume/OI 0.01 history building
30d avg - · 4/10 sessions -
90d avg - · 4/30 sessions -
180d avg - · 4/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:05 Bearish
Pressure -76
Move 5.4%
30 Jul 10:53 Bullish
Pressure 97
Move 5.8%
31 Jul 10:35 Mixed
Pressure 16
Move 8.8%
2 Aug 16:34 Bullish
Pressure 89
Move 5.4%
4 Aug 02:32 Mixed
Pressure 18
Move 5.7%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike12.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 305
Strike17.50
Calls · V 0 · OI 215
Puts · V 10 · OI 365
Strike20.00
Calls · V 0 · OI 102
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.52
Put-call-
Expiry18 Sep 2026
Contracts18
Avg IV0.28
Put-call0.27
Expiry20 Nov 2026
Contracts18
Avg IV0.32
Put-call-
Expiry18 Dec 2026
Contracts24
Avg IV0.31
Put-call-
Expiry19 Mar 2027
Contracts22
Avg IV0.18
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.27
Put IV0.37
Skew0.10
18 Sep 2026Put IV premium
Call IV0.16
Put IV0.24
Skew0.08
20 Nov 2026Put IV premium
Call IV0.21
Put IV0.45
Skew0.24
18 Dec 2026Put IV premium
Call IV0.09
Put IV0.47
Skew0.38
19 Mar 2027Balanced skew
Call IV0.06
Put IV0.11
Skew0.05

Contract Tape

Most active contracts

Full contract tape
ContractTSLX260918C00017500
SideCall
Expiry18 Sep 2026
Strike17.50
Volume30
OI337
IV0.24
ContractTSLX260821P00017500
SidePut
Expiry21 Aug 2026
Strike17.50
Volume10
OI365
IV0.44
ContractTSLX260918P00017500
SidePut
Expiry18 Sep 2026
Strike17.50
Volume6
OI188
IV0.43
ContractTSLX260918P00012500
SidePut
Expiry18 Sep 2026
Strike12.50
Volume2
OI104
IV0.44
ContractTSLX261218P00020000
SidePut
Expiry18 Dec 2026
Strike20.00
Volume2
OI21
IV0.50
ContractTSLX261120P00017500
SidePut
Expiry20 Nov 2026
Strike17.50
Volume1
OI64
IV0.39
ContractTSLX261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume-
OI1495
IV0.09
ContractTSLX261120C00020000
SideCall
Expiry20 Nov 2026
Strike20.00
Volume-
OI1345
IV0.21