Ticker Options Intelligence

FANG options intelligence

Diamondback Energy Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 45 Market data through 31 Jul 2026 Checked 31 Jul 2026 22:07 · complete available chain

Call-side pressure

Bullish pressure

FANG currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 8.0%, with volume/open-interest participation at 0.08.

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

Call-side pressure

Expected move 8.0%

Wider near-term move priced

Activity / OI 0.08

Current volume is quieter versus prior open interest

Put-call 0.62

Call-side skew

Trend fit 69

Options agree with trend context

Weekly backdrop -0.8%

RS 12.2

Expected move 8.0%
Put-call volume 0.62
Volume / OI 0.08
Reference IV 0.47
Max pain 195.00
Underlying 204.68
Nearest expiry 21 Aug 2026
Contracts 387

Research Brief

FANG 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 188.33–221.03; The largest call open-interest concentration is 220.00; the largest put concentration is 180.00. The most active strike by current volume is 220.00.

Priced range188.33–221.03
Call concentration220.00
Put concentration180.00
Max pain reference195.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • 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 188.33 to 221.03. Max pain at 195.00 sits inside that range, 4.7% below spot.

Spot Max pain
188.33204.68 ± 16.35221.03
Confirmation level

A close beyond 221.03 or below 188.33 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 28/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure28 × 42%
+11.6

How strongly activity leans toward calls or puts.

Participation42 × 22%
+9.2

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

Trend agreement69 × 26%
+18.0

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

Volatility65 × 10%
+6.5

The intensity of implied volatility and the priced move.

Reconstructed score45.3Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 220.00; the largest put concentration is 180.00. The most active strike by current volume is 220.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
53
135.00-34.0%
0
30
150.00-26.7%
3
57
155.00-24.3%
1
118
160.00-21.8%
1
56
165.00-19.4%
14
72
170.00-16.9%
8
78
175.00-14.5%
18
818
180.00-12.1%
92
353
185.00-9.6%
93
643
190.00-7.2%
349
72
195.00-4.7%
281
216
200.00-2.3%
800
124
210.002.6%
432
214
220.007.5%
1275
1
230.0012.4%
1274
0
240.0017.3%
120
0
250.0022.1%
30
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.17× front/back

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

0.47 21 Aug 21d
0.42 18 Sep 49d
0.40 18 Dec 140d
0.41 15 Jan 168d
0.40 19 Mar 231d
0.39 17 Jun 321d
0.40 21 Jan 539d

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.

165
170
175
180
185
190
195
200
210
220
230
240
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
387 / 387
  • 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

77/100
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 Bullish flow against weak price

Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $6.8M of estimated gross traded notional, puts · 91+ days · otm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+28
1W price-0.8%
Call premium67%
Put premium33%
Notional split C 67% / P 33% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.08 Volume divided by open interest across the visible chain.
Trend fit 69/100 Agreement between options pressure and Sharemaestro market context.
Event window 3 Aug Matched earnings event is 2 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 Puts · 91+ days · OTM
Puts · 91+ days · OTM puts cluster with 1427 contracts traded, $1.5M estimated gross traded notional, and 23% of visible notional.
$1.5M
Calls · 46-90 days · ITM calls cluster with 387 contracts traded, $1.4M estimated gross traded notional, and 21% of visible notional.
$1.4M
Calls · 91+ days · OTM calls cluster with 954 contracts traded, $1.1M estimated gross traded notional, and 16% of visible notional.
$1.1M
Calls · 91+ days · ITM calls cluster with 207 contracts traded, $1.1M estimated gross traded notional, and 16% of visible notional.
$1.1M
Puts · 91+ days · ITM puts cluster with 63 contracts traded, $348628 estimated gross traded notional, and 5% of visible notional.
$348628

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.

Warning Event-risk setup

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

Warning Bullish pressure over fair value

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

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

Sharemaestro weekly
Close202.95
1W-0.8%
RS12.2
Fair value+25.9%
Options pressure28
Speculation42
Volatility65
Trend fit69

Today Versus Normal

Stored-options context

View history
Expected move 8.0% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.47 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.62 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.08 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:07 Bearish
Pressure -22
Move 9.4%
30 Jul 09:39 Bullish
Pressure 53
Move 8.4%
31 Jul 07:30 Mixed
Pressure 8
Move 7.9%
31 Jul 21:07 Bullish
Pressure 28
Move 8.0%

Strike Map

Where activity is clustering

Full strike map
Strike135.00
Calls · V 0 · OI 0
Puts · V 1 · OI 53
Strike140.00
Calls · V 1 · OI 8
Puts · V 1 · OI 11
Strike145.00
Calls · V 0 · OI 0
Puts · V 9 · OI 18
Strike150.00
Calls · V 1 · OI 3
Puts · V 6 · OI 30
Strike155.00
Calls · V 1 · OI 1
Puts · V 3 · OI 57
Strike160.00
Calls · V 0 · OI 1
Puts · V 6 · OI 118
Strike165.00
Calls · V 1 · OI 14
Puts · V 1 · OI 56
Strike170.00
Calls · V 1 · OI 8
Puts · V 25 · OI 72

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts37
Avg IV0.47
Put-call0.21
Expiry18 Sep 2026
Contracts65
Avg IV0.42
Put-call0.32
Expiry18 Dec 2026
Contracts58
Avg IV0.40
Put-call0.80
Expiry15 Jan 2027
Contracts75
Avg IV0.41
Put-call0.75
Expiry19 Mar 2027
Contracts42
Avg IV0.40
Put-call2.92

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.43
Put IV0.48
Skew0.05
18 Sep 2026Balanced skew
Call IV0.41
Put IV0.41
Skew0.00
18 Dec 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.02
15 Jan 2027Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
19 Mar 2027Balanced skew
Call IV0.40
Put IV0.38
Skew-0.02

Contract Tape

Most active contracts

Full contract tape
ContractFANG270319C00135000
SideCall
Expiry19 Mar 2027
Strike135.00
Volume-
OI7
IV0.51
ContractFANG270319P00135000
SidePut
Expiry19 Mar 2027
Strike135.00
Volume-
OI5
IV0.44
ContractFANG261218C00310000
SideCall
Expiry18 Dec 2026
Strike310.00
Volume-
OI3
IV0.46
ContractFANG261218C00090000
SideCall
Expiry18 Dec 2026
Strike90.00
Volume-
OI3
IV0.00
ContractFANG260918C00310000
SideCall
Expiry18 Sep 2026
Strike310.00
Volume-
OI1
IV0.77
ContractFANG280121C00135000
SideCall
Expiry21 Jan 2028
Strike135.00
Volume-
OI1
IV0.00
ContractFANG260918C00095000
SideCall
Expiry18 Sep 2026
Strike95.00
Volume-
OI1
IV0.00
ContractFANG260821C00160000
SideCall
Expiry21 Aug 2026
Strike160.00
Volume-
OI1
IV0.57