Ticker Options Intelligence

FUN options intelligence

Six Flags Entertainment Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 47 Market data through 31 Jul 2026 Checked 1 Aug 2026 20:55 · complete available chain

Volatility expansion watch

Volatility pressure

FUN currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 16.9%, with volume/open-interest participation at 0.01.

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

Volatility expansion watch

Expected move 16.9%

Wider near-term move priced

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 0.10

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop -0.2%

RS -17.7

Expected move 16.9%
Put-call volume 0.10
Volume / OI 0.01
Reference IV 0.87
Max pain 20.00
Underlying 17.33
Nearest expiry 21 Aug 2026
Contracts 190

Research Brief

FUN has a volatility 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 14.40–20.26; The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 22.50.

Priced range14.40–20.26
Call concentration20.00
Put concentration15.00
Max pain reference20.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Options and the weekly trend are not yet giving the same message.
  • 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 14.40 to 20.26. Max pain at 20.00 sits inside that range, 15.4% above spot.

Spot Max pain
14.4017.33 ± 2.9320.26
Confirmation level

A close beyond 20.26 or below 14.40 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

Evidence alignment, not probability

Pressure is 86/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure86 × 42%
+36.3

How strongly activity leans toward calls or puts.

Participation4 × 22%
+0.9

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.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score46.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 22.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
10.00-42.3%
2
118
12.50-27.9%
0
3241
15.00-13.4%
0
447
17.501.0%
84
205
20.0015.4%
1580
44
22.5029.8%
1134
3
25.0044.3%
226
0
27.5058.7%
502
0
30.0073.1%
326
0
32.5087.5%
6
0
35.00102.0%
17
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.24× front/back

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

0.87 21 Aug 21d
0.82 18 Sep 49d
0.79 16 Oct 77d
0.79 18 Dec 140d
0.76 15 Jan 168d
0.76 19 Mar 231d
0.70 21 Jan 539d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

15
18
20
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
190 / 190
  • 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

89/100
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 Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $27794 of estimated gross traded notional, puts · 46-90 days · itm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+86
1W price-0.2%
Call premium64%
Put premium36%
Notional split C 64% / P 36% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.01 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 5 Aug Matched earnings event is 3 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 · 46-90 days · ITM
Puts · 46-90 days · ITM puts cluster with 26 contracts traded, $9230 estimated gross traded notional, and 33% of visible notional.
$9230
Calls · 8-21 days · OTM calls cluster with 159 contracts traded, $6544 estimated gross traded notional, and 24% of visible notional.
$6544
Calls · 91+ days · OTM calls cluster with 25 contracts traded, $5552 estimated gross traded notional, and 20% of visible notional.
$5552
Calls · 46-90 days · OTM calls cluster with 100 contracts traded, $3500 estimated gross traded notional, and 13% of visible notional.
$3500
Calls · 91+ days · ITM calls cluster with 1 contracts traded, $1120 estimated gross traded notional, and 4% of visible notional.
$1120

Setup Classification

Opportunity and risk frame

Context, not advice
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.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

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
Close17.33
1W-0.2%
RS-17.7
Fair value-47.3%
Options pressure86
Speculation4
Volatility96
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 16.9% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.87 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.10 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.01 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 11:00 Volatility
Pressure 85
Move 19.1%
30 Jul 10:49 Bullish
Pressure 20
Move 20.3%
31 Jul 05:39 Bullish
Pressure 21
Move 16.1%
31 Jul 17:02 Volatility
Pressure -28
Move 16.3%
1 Aug 19:55 Volatility
Pressure 86
Move 16.9%

Strike Map

Where activity is clustering

Full strike map
Strike10.00
Calls · V 1 · OI 2
Puts · V 0 · OI 0
Strike12.50
Calls · V 0 · OI 0
Puts · V 0 · OI 118
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3241
Strike17.50
Calls · V 0 · OI 84
Puts · V 1 · OI 447
Strike20.00
Calls · V 40 · OI 1580
Puts · V 0 · OI 205
Strike22.50
Calls · V 114 · OI 1134
Puts · V 1 · OI 44
Strike25.00
Calls · V 1 · OI 226
Puts · V 0 · OI 3
Strike27.50
Calls · V 1 · OI 502
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.87
Put-call0.01
Expiry18 Sep 2026
Contracts26
Avg IV0.82
Put-call0.28
Expiry16 Oct 2026
Contracts30
Avg IV0.79
Put-call-
Expiry18 Dec 2026
Contracts40
Avg IV0.79
Put-call-
Expiry15 Jan 2027
Contracts26
Avg IV0.76
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.90
Put IV0.76
Skew-0.15
18 Sep 2026Balanced skew
Call IV0.78
Put IV0.80
Skew0.02
16 Oct 2026Balanced skew
Call IV0.78
Put IV0.77
Skew-0.01
18 Dec 2026Balanced skew
Call IV0.77
Put IV0.81
Skew0.05
15 Jan 2027Balanced skew
Call IV0.73
Put IV0.74
Skew0.01

Contract Tape

Most active contracts

Full contract tape
ContractFUN260821C00022500
SideCall
Expiry21 Aug 2026
Strike22.50
Volume114
OI1134
IV1.01
ContractFUN260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume100
OI496
IV0.82
ContractFUN260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume40
OI1580
IV0.90
ContractFUN260918P00020000
SidePut
Expiry18 Sep 2026
Strike20.00
Volume26
OI148
IV0.74
ContractFUN261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume20
OI835
IV0.79
ContractFUN260821C00030000
SideCall
Expiry21 Aug 2026
Strike30.00
Volume3
OI326
IV0.91
ContractFUN261218C00027500
SideCall
Expiry18 Dec 2026
Strike27.50
Volume3
OI20
IV0.77
ContractFUN261218C00022500
SideCall
Expiry18 Dec 2026
Strike22.50
Volume2
OI2173
IV0.74