Ticker Options Intelligence

BHF options intelligence

Brighthouse Financial, Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 61 Market data through 18 Sep 2026 Checked 18 Sep 2026 23:36 · partial chain

Put-side pressure

Bearish pressure

BHF currently carries bearish options pressure with a 61/100 conviction score. The nearest-chain expected move is 1.5%, with volume/open-interest participation at 0.16.

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

Put-side pressure

Expected move 1.5%

Near-term move context

Activity / OI 0.16

Current volume is quieter versus prior open interest

Put-call 4.41

Put-side skew

Trend fit 68

Options agree with trend context

Weekly backdrop -0.3%

RS -26.1

Expected move 1.5%
Put-call volume 4.41
Volume / OI 0.16
Reference IV 1.19
Max pain 60.00
Underlying 50.11
Nearest expiry 18 Sep 2026
Contracts 67

Research Brief

BHF has a bearish chain read with 61/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 49.33–50.89; The largest call open-interest concentration is 60.00; the largest put concentration is 50.00. The most active strike by current volume is 50.00.

Priced range49.33–50.89
Call concentration60.00
Put concentration50.00
Max pain reference60.00
What would confirm it
  • Price remains weak while put-side concentration persists.
  • The current chain read already agrees with the stored weekly trend context.
  • Participation is above the ticker's stored normal, which makes the read more noteworthy.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.
  • 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 18 Sep

Options imply 49.33 to 50.89. Max pain at 60.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
49.3350.11 ± 0.7850.89
Confirmation level

A close beyond 50.89 or below 49.33 at the 18 Sep 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 61/100

Evidence alignment, not probability

Pressure is 66/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure66 × 42%
+27.6

How strongly activity leans toward calls or puts.

Participation44 × 22%
+9.6

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

Trend agreement68 × 26%
+17.8

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

Volatility62 × 10%
+6.2

The intensity of implied volatility and the priced move.

Reconstructed score61.2Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 60.00; the largest put concentration is 50.00. The most active strike by current volume is 50.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
81
30.00-40.1%
0
24
35.00-30.2%
0
369
40.00-20.2%
0
880
45.00-10.2%
0
7570
50.00-0.2%
42
2090
55.009.8%
1059
2670
60.0019.7%
1954
527
65.0029.7%
1761
0
70.0039.7%
211
0
75.0049.7%
0
0
80.0059.6%
30
0
85.0069.6%
1
0
90.0079.6%
2
0
95.0089.6%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Negative gamma proxy

Model-estimated Greeks · 98% coverage

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

Net profile-$5.1MDelta change / 1% move
Positive peak65.00+$648,928
Negative peak50.00-$5.3M
Nearest balance58.18Interpolated sign change
StrikeNegativePositiveNet / 1% move
30.00-40.1%
-$3,089
35.00-30.2%
-$279,481
40.00-20.2%
-$25,450
45.00-10.2%
-$83,693
50.00-0.2%
-$5.3M
55.009.8%
-$108,204
60.0019.7%
+$62,161
65.0029.7%
+$648,928
70.0039.7%
+$19,386
75.0049.7%
+$34
80.0059.6%
+$190
85.0069.6%
+$5
90.0079.6%
+$9
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

1.42× front/back

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

1.19 18 Sep 0d
0.64 16 Oct 28d
0.68 20 Nov 63d
0.84 18 Dec 91d

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.

45
50
55
60
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

23 matured · 16 directional

Across 16 stored directional transitions, the next stored price moved in the labelled direction 44% of the time.

Directional follow-through44%
Moves contained by pricing57%
Average expiry move9.4%
18 Sep Bearish · 61 -0.3% through expiry 1.5% priced · v2.0
17 Sep Bullish · 35 -0.3% through expiry 5.6% priced · v2.0
16 Sep Bullish · 41 -0.3% through expiry 9.0% priced · v2.0
15 Sep Volatility · 48 -0.3% through expiry 9.9% priced · v2.0
11 Sep Bullish · 50 -0.3% through expiry 6.0% priced · v2.0
9 Sep Bullish · 32 -6.8% through expiry 9.4% priced · v2.0
4 Sep Bullish · 46 -6.8% through expiry 8.6% priced · v2.0
2 Sep Volatility · 48 -5.8% through expiry 10.5% priced · v2.0
31 Aug Volatility · 54 -5.8% through expiry 11.6% priced · v2.0
21 Aug Volatility · 57 -4.4% through expiry 11.4% priced · v2.0
20 Aug Bearish · 42 -10.9% through expiry 22.1% priced · v2.0
19 Aug Volatility · 48 -10.9% through expiry 21.3% priced · v2.0

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

Good

B79/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Retained chain subset
Market date
18 Sep 2026
Calculation
v2.0
Contracts
67 / 67
  • 100% of provider contracts were retained for this snapshot.

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

83/100
Primary intent Put-heavy activity

Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.

Flow vs price divergence Bearish flow before price confirmation

Put-side pressure is present before a decisive weekly price breakdown.

Why this matters

Put-heavy activity matters because it connects the options headline to the actual evidence: $783,248 of estimated gross traded notional, puts · 0-7 days · atm, and a bearish 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-66
1W price-0.3%
Call premium39%
Put premium61%
Notional split C 39% / P 61% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.16 Volume divided by open interest across the visible chain.
Trend fit 68/100 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 Puts · 0-7 days · ATM
Puts · 0-7 days · ATM puts cluster with 6272 contracts traded, $376,320 estimated gross traded notional, and 48% of visible notional.
$376,320
Calls · 91+ days · OTM calls cluster with 1220 contracts traded, $286,015 estimated gross traded notional, and 37% of visible notional.
$286,015
Puts · 91+ days · ITM puts cluster with 19 contracts traded, $29,895 estimated gross traded notional, and 4% of visible notional.
$29,895
Puts · 0-7 days · ITM puts cluster with 18 contracts traded, $18,375 estimated gross traded notional, and 2% of visible notional.
$18,375
Puts · 22-45 days · OTM puts cluster with 146 contracts traded, $17,237 estimated gross traded notional, and 2% of visible notional.
$17,237

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Activity Anomaly

High anomaly

94

Current options activity is unusually hot versus this ticker's stored history.

Baseline: 24 completed sessions

Volume rank96th
Volume/OI rank96th
IV rank92th

Market Context

Underlying confirmation

Sharemaestro weekly
Close49.95
1W-0.3%
RS-26.1
Fair value-6.6%
Options pressure-66
Speculation44
Volatility62
Trend fit68

Today Versus Normal

Stored-options context

View history
Expected move 1.5% muted
30d avg 11.4% · 11 sessions 0th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -
IV 1.19 elevated
30d avg 0.75 · 11 sessions 82th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -
Put-call 4.41 elevated
30d avg 1.05 · 11 sessions 100th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -
Volume/OI 0.16 elevated
30d avg 0.06 · 11 sessions 91th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:51 Bearish
Pressure -53
Move 6.2%
30 Jul 10:41 Mixed
Pressure 7
Move 4.5%
31 Jul 11:07 Bearish
Pressure -49
Move 3.6%
3 Aug 05:52 Bearish
Pressure -34
Move 7.2%
4 Aug 10:57 Bearish
Pressure -32
Move 7.3%
5 Aug 01:26 Bearish
Pressure -21
Move 7.2%
6 Aug 10:30 Mixed
Pressure -11
Move 5.3%
7 Aug 12:00 Bearish
Pressure -38
Move 5.9%

Strike Map

Where activity is clustering

Full strike map
Strike30.00
Calls · V 0 · OI 0
Puts · V 36 · OI 81
Strike35.00
Calls · V 0 · OI 0
Puts · V 10 · OI 24
Strike40.00
Calls · V 0 · OI 0
Puts · V 1 · OI 369
Strike45.00
Calls · V 2 · OI 0
Puts · V 149 · OI 880
Strike50.00
Calls · V 10 · OI 42
Puts · V 6272 · OI 7570
Strike55.00
Calls · V 4 · OI 1059
Puts · V 5 · OI 2090
Strike60.00
Calls · V 36 · OI 1954
Puts · V 9 · OI 2670
Strike65.00
Calls · V 11 · OI 1761
Puts · V 4 · OI 527

Term Structure

Expiration activity

Volume and IV
Expiry18 Sep 2026
Contracts21
Avg IV1.19
Put-call27.37
Expiry16 Oct 2026
Contracts14
Avg IV0.64
Put-call5.06
Expiry20 Nov 2026
Contracts13
Avg IV0.68
Put-call0.36
Expiry18 Dec 2026
Contracts19
Avg IV0.84
Put-call0.10

Skew

Call/put IV balance

OTM demand
18 Sep 2026Call IV premium
Call IV0.94
Put IV0.55
Skew-0.39
16 Oct 2026Call IV premium
Call IV0.70
Put IV0.60
Skew-0.10
20 Nov 2026Balanced skew
Call IV0.72
Put IV0.71
Skew-0.01
18 Dec 2026Call IV premium
Call IV0.77
Put IV0.70
Skew-0.07

Contract Tape

Most active contracts

Full contract tape
ContractBHF261218C00035000
SideCall
Expiry18 Dec 2026
Strike35.00
Volume-
OI11
IV0.75
ContractBHF261218C00030000
SideCall
Expiry18 Dec 2026
Strike30.00
Volume-
OI2
IV0.86
ContractBHF261016C00045000
SideCall
Expiry16 Oct 2026
Strike45.00
Volume-
OI1
IV0.55
ContractBHF261016C00075000
SideCall
Expiry16 Oct 2026
Strike75.00
Volume-
OI1
IV1.18
ContractBHF261218P00070000
SidePut
Expiry18 Dec 2026
Strike70.00
Volume-
OI-
IV0.00
ContractBHF260918C00035000
SideCall
Expiry18 Sep 2026
Strike35.00
Volume-
OI-
IV0.00
ContractBHF260918P00070000
SidePut
Expiry18 Sep 2026
Strike70.00
Volume-
OI-
IV0.00
ContractBHF260918P00075000
SidePut
Expiry18 Sep 2026
Strike75.00
Volume-
OI-
IV0.00

Evidence context