Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
CPT options intelligence
Camden Property Trust options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 31 Jul 2026
Checked 31 Jul 2026 18:08 · complete available chain
Options-market disagreement
Mixed pressure
CPT currently carries mixed options pressure with a 47/100 conviction score. The nearest-chain expected move is 10.0%, with volume/open-interest participation at 0.50.
Expected move
10.0%
Wider near-term move priced
Activity / OI
0.50
Current volume is elevated versus prior open interest
Put-call
1.22
Balanced tape
Trend fit
99
Options agree with trend context
Weekly backdrop
-2.6%
RS -3.4
Expected move
10.0%
Put-call volume
1.22
Volume / OI
0.50
Reference IV
0.37
Max pain
100.00
Underlying
113.73
Nearest expiry
21 Aug 2026
Contracts
65
Research Brief
CPT has a mixed chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 102.36–125.10; The largest call open-interest concentration is 115.00; the largest put concentration is 90.00. The most active strike by current volume is 90.00.
Priced range102.36–125.10
Call concentration115.00
Put concentration90.00
Max pain reference100.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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
Options imply 102.36 to 125.10. Max pain at 100.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
102.36113.73 ± 11.37125.10
Confirmation level
A close beyond 125.10 or below 102.36 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 47/100
Pressure is 8/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure8 × 42%
+3.4
How strongly activity leans toward calls or puts.
Participation52 × 22%
+11.4
Volume relative to existing open interest and contract-level activity.
Trend agreement99 × 26%
+25.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility66 × 10%
+6.6
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 115.00; the largest put concentration is 90.00. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
3
65.00-42.8%
0
48
75.00-34.1%
0
2
80.00-29.7%
0
17
85.00-25.3%
1
57
90.00-20.9%
1
23
95.00-16.5%
5
50
100.00-12.1%
31
28
105.00-7.7%
14
7
110.00-3.3%
37
0
115.001.1%
167
0
120.005.5%
167
0
125.009.9%
13
0
130.0014.3%
4
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.37
21 Aug
21d
0.34
18 Sep
49d
0.32
20 Nov
112d
0.27
19 Feb
203d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
95
100
105
110
115
120
125
130
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
- 65 / 65
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Put-heavy activity matters because it connects the options headline to the actual evidence: $606112 of estimated gross traded notional, puts · 91+ days · itm, 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-8
1W price-2.6%
Call premium24%
Put premium76%
Notional split
C 24% / P 76%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.50
Volume divided by open interest across the visible chain.
Trend fit
99/100
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 · 91+ days · ITM
puts cluster with 115 contracts traded, $431300 estimated gross traded notional, and 71% of visible notional.
$431300
Calls · 8-21 days · ITM
calls cluster with 23 contracts traded, $56600 estimated gross traded notional, and 9% of visible notional.
$56600
Calls · 91+ days · ITM
calls cluster with 35 contracts traded, $52390 estimated gross traded notional, and 9% of visible notional.
$52390
Calls · 46-90 days · ATM
calls cluster with 166 contracts traded, $33200 estimated gross traded notional, and 5% of visible notional.
$33200
Puts · 91+ days · OTM
puts cluster with 130 contracts traded, $13212 estimated gross traded notional, and 2% of visible notional.
$13212
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close110.81
1W-2.6%
RS-3.4
Fair value+7.4%
Options pressure-8
Speculation52
Volatility66
Trend fit99
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 10:27
Bullish
Pressure 62
Move 5.5%
30 Jul 10:23
Bullish
Pressure 94
Move 5.5%
30 Jul 15:23
Bearish
Pressure -52
Move 11.3%
30 Jul 15:41
Bearish
Pressure -53
Move 11.3%
30 Jul 17:37
Bearish
Pressure -52
Move 11.3%
30 Jul 19:52
Bearish
Pressure -52
Move 11.1%
30 Jul 21:40
Bearish
Pressure -53
Move 10.7%
31 Jul 11:48
Mixed
Pressure 12
Move 5.2%
Strike Map
Where activity is clustering
Strike65.00
Calls · V 2 · OI 0
Puts · V 2 · OI 3
Strike75.00
Calls · V 0 · OI 0
Puts · V 1 · OI 48
Strike80.00
Calls · V 10 · OI 0
Puts · V 1 · OI 2
Strike85.00
Calls · V 1 · OI 1
Puts · V 4 · OI 17
Strike90.00
Calls · V 2 · OI 1
Puts · V 39 · OI 57
Strike95.00
Calls · V 2 · OI 5
Puts · V 2 · OI 23
Strike100.00
Calls · V 4 · OI 31
Puts · V 3 · OI 50
Strike105.00
Calls · V 1 · OI 14
Puts · V 5 · OI 28
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts22
Avg IV0.37
Put-call1.71
Expiry18 Sep 2026
Contracts5
Avg IV0.34
Put-call-
Expiry20 Nov 2026
Contracts24
Avg IV0.32
Put-call6.21
Expiry19 Feb 2027
Contracts14
Avg IV0.27
Put-call0.36
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.50
Put IV0.45
Skew-0.06
18 Sep 2026Balanced skew
Call IV0.27
Put IV0.31
Skew0.04
20 Nov 2026Balanced skew
Call IV0.27
Put IV0.29
Skew0.02
19 Feb 2027Balanced skew
Call IV0.24
Put IV0.29
Skew0.05
Contract Tape
Most active contracts
ContractCPT261120P00115000
SidePut
Expiry20 Nov 2026
Strike115.00
Volume-
OI6
IV0.50
ContractCPT261120C00135000
SideCall
Expiry20 Nov 2026
Strike135.00
Volume-
OI3
IV0.36
ContractCPT260918P00095000
SidePut
Expiry18 Sep 2026
Strike95.00
Volume-
OI2
IV0.48
ContractCPT270219C00135000
SideCall
Expiry19 Feb 2027
Strike135.00
Volume-
OI2
IV0.27
ContractCPT260918P00100000
SidePut
Expiry18 Sep 2026
Strike100.00
Volume-
OI1
IV0.31
ContractCPT270219P00110000
SidePut
Expiry19 Feb 2027
Strike110.00
Volume-
OI1
IV0.29
ContractCPT260918C00100000
SideCall
Expiry18 Sep 2026
Strike100.00
Volume-
OI1
IV0.37
ContractCPT270219C00110000
SideCall
Expiry19 Feb 2027
Strike110.00
Volume-
OI1
IV0.27
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.