Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
NMM options intelligence
Navios Maritime Partners LP Unit options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 2 Aug 2026 02:15 · complete available chain
Put-side pressure
Bearish pressure
NMM currently carries bearish options pressure with a 45/100 conviction score. The nearest-chain expected move is 6.5%, with volume/open-interest participation at 0.02.
Expected move
6.5%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
1.97
Put-side skew
Trend fit
67
Options agree with trend context
Weekly backdrop
+2.1%
RS 24.5
Expected move
6.5%
Put-call volume
1.97
Volume / OI
0.02
Reference IV
0.34
Max pain
75.00
Underlying
80.76
Nearest expiry
21 Aug 2026
Contracts
262
Research Brief
NMM has a bearish 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 75.54–85.98; The largest call open-interest concentration is 80.00; the largest put concentration is 67.50. The most active strike by current volume is 80.00.
Priced range75.54–85.98
Call concentration80.00
Put concentration67.50
Max pain reference75.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 75.54 to 85.98. Max pain at 75.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
75.5480.76 ± 5.2285.98
Confirmation level
A close beyond 85.98 or below 75.54 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
Pressure is 32/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure32 × 42%
+13.3
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement67 × 26%
+17.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility50 × 10%
+5.0
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 80.00; the largest put concentration is 67.50. The most active strike by current volume is 80.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
50.00-38.1%
0
0
55.00-31.9%
0
116
60.00-25.7%
2
3
62.50-22.6%
99
69
65.00-19.5%
20
899
67.50-16.4%
0
165
70.00-13.3%
11
160
72.50-10.2%
108
193
75.00-7.1%
685
41
77.50-4.0%
26
11
80.00-0.9%
1021
0
82.502.2%
16
0
85.005.3%
145
0
87.508.3%
0
0
90.0011.4%
8
0
95.0017.6%
1
0
100.0023.8%
20
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.34
21 Aug
21d
0.36
18 Sep
49d
0.36
18 Dec
140d
0.37
15 Jan
168d
0.37
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
65
68
70
73
75
78
80
83
85
88
90
95
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
- 262 / 262
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Put-side pressure is building while price is rising, a cautionary divergence.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $54220 of estimated gross traded notional, puts · 8-21 days · atm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-32
1W price+2.1%
Call premium44%
Put premium56%
Notional split
C 44% / P 56%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
67/100
Agreement between options pressure and Sharemaestro market context.
Event window
20 Aug
Matched earnings event is 18 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 8-21 days · ATM
puts cluster with 64 contracts traded, $14240 estimated gross traded notional, and 26% of visible notional.
$14240
Calls · 91+ days · ITM
calls cluster with 2 contracts traded, $7705 estimated gross traded notional, and 14% of visible notional.
$7705
Puts · 8-21 days · OTM
puts cluster with 75 contracts traded, $6368 estimated gross traded notional, and 12% of visible notional.
$6368
Calls · 8-21 days · OTM
calls cluster with 52 contracts traded, $4607 estimated gross traded notional, and 8% of visible notional.
$4607
Calls · 8-21 days · ATM
calls cluster with 14 contracts traded, $3680 estimated gross traded notional, and 7% of visible notional.
$3680
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close80.76
1W+2.1%
RS24.5
Fair value+74.6%
Options pressure-32
Speculation40
Volatility50
Trend fit67
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 11:00
Mixed
Pressure -16
Move 8.5%
30 Jul 10:49
Bearish
Pressure -88
Move 6.6%
31 Jul 10:33
Bullish
Pressure 64
Move 6.8%
2 Aug 01:15
Bearish
Pressure -32
Move 6.5%
Strike Map
Where activity is clustering
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 2
Puts · V 0 · OI 116
Strike62.50
Calls · V 0 · OI 99
Puts · V 0 · OI 3
Strike65.00
Calls · V 0 · OI 20
Puts · V 6 · OI 69
Strike67.50
Calls · V 0 · OI 0
Puts · V 0 · OI 899
Strike70.00
Calls · V 0 · OI 11
Puts · V 5 · OI 165
Strike72.50
Calls · V 0 · OI 108
Puts · V 1 · OI 160
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts38
Avg IV0.34
Put-call2.11
Expiry18 Sep 2026
Contracts58
Avg IV0.36
Put-call2.09
Expiry18 Dec 2026
Contracts50
Avg IV0.36
Put-call1.17
Expiry15 Jan 2027
Contracts70
Avg IV0.37
Put-call0.60
Expiry19 Mar 2027
Contracts46
Avg IV0.37
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.31
Put IV0.39
Skew0.08
18 Sep 2026Balanced skew
Call IV0.37
Put IV0.37
Skew-
18 Dec 2026Balanced skew
Call IV0.36
Put IV0.37
Skew0.01
15 Jan 2027Put IV premium
Call IV0.33
Put IV0.41
Skew0.08
19 Mar 2027Balanced skew
Call IV0.36
Put IV0.39
Skew0.03
Contract Tape
Most active contracts
ContractNMM260821P00080000
SidePut
Expiry21 Aug 2026
Strike80.00
Volume64
OI11
IV0.35
ContractNMM260821P00075000
SidePut
Expiry21 Aug 2026
Strike75.00
Volume53
OI193
IV0.39
ContractNMM260821C00085000
SideCall
Expiry21 Aug 2026
Strike85.00
Volume51
OI145
IV0.31
ContractNMM260821C00080000
SideCall
Expiry21 Aug 2026
Strike80.00
Volume10
OI1021
IV0.33
ContractNMM260821P00077500
SidePut
Expiry21 Aug 2026
Strike77.50
Volume10
OI41
IV0.42
ContractNMM260918C00085000
SideCall
Expiry18 Sep 2026
Strike85.00
Volume9
OI157
IV0.36
ContractNMM260918P00075000
SidePut
Expiry18 Sep 2026
Strike75.00
Volume9
OI67
IV0.37
ContractNMM260918P00080000
SidePut
Expiry18 Sep 2026
Strike80.00
Volume9
OI-
IV0.35
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
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.