Ticker Options Intelligence

TCBI options intelligence

Texas Capital Bancshares, Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 45 Market data through 12 Aug 2026 Checked 13 Aug 2026 10:38 · complete available chain

Call-side pressure

Bullish pressure

TCBI currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 2.5%, with volume/open-interest participation at 0.00.

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

Call-side pressure

Expected move 2.5%

Near-term move context

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call 0.00

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop +0.5%

RS -7.9

Expected move 2.5%
Put-call volume -
Volume / OI 0.00
Reference IV 0.16
Max pain 100.00
Underlying 99.33
Nearest expiry 21 Aug 2026
Contracts 166

Research Brief

TCBI has a bullish chain read with 45/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 96.85–101.81; The largest call open-interest concentration is 105.00; the largest put concentration is 100.00. The most active strike by current volume is 55.00.

Priced range96.85–101.81
Call concentration105.00
Put concentration100.00
Max pain reference100.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 96.85 to 101.81. Max pain at 100.00 sits inside that range, 0.7% above spot.

Spot Max pain
96.8599.33 ± 2.48101.81
Confirmation level

A close beyond 101.81 or below 96.85 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 45/100

Evidence alignment, not probability

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

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation2 × 22%
+0.5

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

Trend agreement0 × 26%
+0.0

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

Volatility21 × 10%
+2.1

The intensity of implied volatility and the priced move.

Reconstructed score44.6Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 105.00; the largest put concentration is 100.00. The most active strike by current volume is 55.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
55.00-44.6%
0
0
60.00-39.6%
0
0
65.00-34.6%
0
0
70.00-29.5%
0
0
75.00-24.5%
0
0
80.00-19.5%
0
1
85.00-14.4%
0
3
90.00-9.4%
0
1
95.00-4.4%
0
9
100.000.7%
1
0
105.005.7%
7
0
110.0010.7%
0
0
115.0015.8%
1
0
120.0020.8%
0
0
125.0025.8%
0
0
130.0030.9%
0
0
135.0035.9%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported + model-estimated Greeks · 96% 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+$26,838Delta change / 1% move
Positive peak105.00+$14,440
Negative peak115.00-$4,200
Nearest balance111.41Interpolated sign change
StrikeNegativePositiveNet / 1% move
50.00-49.7%
-$5
55.00-44.6%
-$11
60.00-39.6%
-$9
65.00-34.6%
-$18
70.00-29.5%
-$10
75.00-24.5%
-$21
80.00-19.5%
-$14
85.00-14.4%
+$4,528
90.00-9.4%
+$1,226
95.00-4.4%
+$3,981
100.000.7%
+$5,040
105.005.7%
+$14,440
110.0010.7%
+$1,646
115.0015.8%
-$4,200
120.0020.8%
+$150
125.0025.8%
-$51
130.0030.9%
+$96
135.0035.9%
+$20
140.0040.9%
+$25
145.0046.0%
+$13
150.0051.0%
+$6
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

Back-loaded volatility

0.53× front/back

Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.

0.16 21 Aug 9d
0.23 18 Sep 37d
0.30 18 Dec 128d
0.30 19 Mar 219d

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.

80
85
90
95
100
105
110
115
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
12 Aug 2026
Calculation
v2.0
Contracts
166 / 166
  • 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

Directional flow, confirmation needed

33/100
Primary intent Directional flow, confirmation needed

There is useful activity, but aggregate chain data does not isolate participant intent.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Directional flow, confirmation needed matters because it connects the options headline to the actual evidence: $50 of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+100
1W price+0.5%
Call premium100%
Put premium0%
Notional split C 100% / P 0% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.00 Volume divided by open interest across the visible chain.
Trend fit 0/100 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.
Conviction clusters Calls · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 1 contracts traded, $50 estimated gross traded notional, and 100% of visible notional.
$50

Setup Classification

Opportunity and risk frame

Context, not advice
Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Warning Bullish pressure over fair value

Call pressure is building while the stock sits above Sharemaestro fair value.

Activity Anomaly

Quiet tape

23

Activity is muted versus this ticker's stored history.

Baseline: 10 completed sessions

Volume rank40th
Volume/OI rank30th
IV rank0th

Market Context

Underlying confirmation

Sharemaestro weekly
Close99.33
1W+0.5%
RS-7.9
Fair value+29.3%
Options pressure100
Speculation2
Volatility21
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 2.5% muted
30d avg 5.4% · 10 sessions 0th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
IV 0.16 muted
30d avg 0.25 · 10 sessions 0th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
Put-call 0.00 history building
30d avg - · 7/10 sessions -
90d avg - · 7/30 sessions -
180d avg - · 7/60 sessions -
Volume/OI 0.00 near normal
30d avg 0.01 · 10 sessions 30th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:42 Mixed
Pressure -12
Move 6.8%
30 Jul 10:39 Mixed
Pressure 8
Move 6.0%
30 Jul 17:12 Bullish
Pressure 39
Move 6.0%
31 Jul 11:50 Mixed
Pressure -12
Move 5.8%
2 Aug 05:00 Bullish
Pressure 28
Move 5.5%
4 Aug 10:16 Bullish
Pressure 28
Move 5.4%
5 Aug 10:51 Bullish
Pressure 100
Move 5.3%
6 Aug 11:01 Mixed
Pressure 8
Move 5.5%

Strike Map

Where activity is clustering

Full strike map
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts40
Avg IV0.16
Put-call-
Expiry18 Sep 2026
Contracts44
Avg IV0.23
Put-call-
Expiry18 Dec 2026
Contracts42
Avg IV0.30
Put-call-
Expiry19 Mar 2027
Contracts40
Avg IV0.30
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.11
Put IV0.17
Skew0.06
18 Sep 2026Put IV premium
Call IV0.05
Put IV0.36
Skew0.30
18 Dec 2026Put IV premium
Call IV0.24
Put IV0.33
Skew0.09
19 Mar 2027Put IV premium
Call IV0.24
Put IV0.32
Skew0.08

Contract Tape

Most active contracts

Full contract tape
ContractTCBI261218C00125000
SideCall
Expiry18 Dec 2026
Strike125.00
Volume1
OI4
IV0.13
ContractTCBI260918C00120000
SideCall
Expiry18 Sep 2026
Strike120.00
Volume-
OI52
IV0.20
ContractTCBI261218C00085000
SideCall
Expiry18 Dec 2026
Strike85.00
Volume-
OI41
IV0.26
ContractTCBI270319C00105000
SideCall
Expiry19 Mar 2027
Strike105.00
Volume-
OI39
IV0.28
ContractTCBI260918C00075000
SideCall
Expiry18 Sep 2026
Strike75.00
Volume-
OI38
IV0.01
ContractTCBI260918C00100000
SideCall
Expiry18 Sep 2026
Strike100.00
Volume-
OI28
IV0.24
ContractTCBI261218C00100000
SideCall
Expiry18 Dec 2026
Strike100.00
Volume-
OI24
IV0.29
ContractTCBI261218P00115000
SidePut
Expiry18 Dec 2026
Strike115.00
Volume-
OI22
IV0.27

Evidence context