Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
DHI options intelligence
DR Horton Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
33
Market data through 31 Jul 2026
Checked 2 Aug 2026 03:16 · complete available chain
Options-market disagreement
Mixed pressure
DHI currently carries mixed options pressure with a 33/100 conviction score. The nearest-chain expected move is 3.6%, with volume/open-interest participation at 0.05.
Expected move
3.6%
Near-term move context
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.95
Balanced tape
Trend fit
67
Options agree with trend context
Weekly backdrop
-2.5%
RS -14.3
Expected move
3.6%
Put-call volume
0.95
Volume / OI
0.05
Reference IV
0.50
Max pain
144.00
Underlying
143.06
Nearest expiry
7 Aug 2026
Contracts
507
Research Brief
DHI has a mixed chain read with 33/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 137.89–148.23; The largest call open-interest concentration is 160.00; the largest put concentration is 136.00. The most active strike by current volume is 152.50.
Priced range137.89–148.23
Call concentration160.00
Put concentration136.00
Max pain reference144.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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
Options imply 137.89 to 148.23. Max pain at 144.00 sits inside that range, 0.7% above spot.
Spot
Max pain
137.89143.06 ± 5.17148.23
Confirmation level
A close beyond 148.23 or below 137.89 at the 7 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 33/100
Pressure is 4/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure4 × 42%
+1.7
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement67 × 26%
+17.4
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 160.00; the largest put concentration is 136.00. The most active strike by current volume is 152.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
14
133.00-7.0%
0
19
135.00-5.6%
0
55
136.00-4.9%
0
0
139.00-2.8%
36
17
140.00-2.1%
1
43
144.000.7%
10
1
145.001.4%
11
0
146.002.1%
12
3
147.002.8%
6
9
148.003.5%
2
16
150.004.9%
22
0
152.506.6%
34
3
155.008.3%
33
3
157.5010.1%
26
7
160.0011.8%
41
0
170.0018.8%
15
0
200.0039.8%
10
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.50
7 Aug
7d
0.45
14 Aug
14d
0.45
21 Aug
21d
0.41
28 Aug
28d
0.53
4 Sep
35d
0.40
18 Sep
49d
0.36
20 Nov
112d
0.30
18 Dec
140d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
120
125
130
135
136
138
140
142
143
144
145
147
148
149
153
155
158
160
163
168
170
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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 quotes99%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 507 / 507
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
The options read is mixed, so divergence is not strong enough to classify.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $2.3M of estimated gross traded notional, puts · 91+ days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+4
1W price-2.5%
Call premium46%
Put premium54%
Notional split
C 46% / P 54%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
67/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Puts · 91+ days · ITM
puts cluster with 265 contracts traded, $798224 estimated gross traded notional, and 34% of visible notional.
$798224
Calls · 91+ days · OTM
calls cluster with 455 contracts traded, $423554 estimated gross traded notional, and 18% of visible notional.
$423554
Calls · 91+ days · ITM
calls cluster with 72 contracts traded, $345141 estimated gross traded notional, and 15% of visible notional.
$345141
Puts · 91+ days · ATM
puts cluster with 99 contracts traded, $146530 estimated gross traded notional, and 6% of visible notional.
$146530
Calls · 46-90 days · ITM
calls cluster with 31 contracts traded, $126354 estimated gross traded notional, and 5% of visible notional.
$126354
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
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
Close143.06
1W-2.5%
RS-14.3
Fair value-1.2%
Options pressure4
Speculation41
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 10:11
Mixed
Pressure -17
Move 4.0%
30 Jul 10:06
Bearish
Pressure -78
Move 2.8%
30 Jul 19:18
Mixed
Pressure 10
Move 2.1%
31 Jul 12:20
Mixed
Pressure 15
Move 2.1%
31 Jul 13:35
Mixed
Pressure 9
Move 2.3%
31 Jul 13:55
Mixed
Pressure 9
Move 2.0%
31 Jul 18:52
Mixed
Pressure -2
Move 2.2%
1 Aug 23:05
Mixed
Pressure -16
Move 3.5%
Strike Map
Where activity is clustering
Strike120.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike125.00
Calls · V 0 · OI 0
Puts · V 5 · OI 2
Strike130.00
Calls · V 0 · OI 0
Puts · V 1 · OI 9
Strike133.00
Calls · V 0 · OI 0
Puts · V 1 · OI 14
Strike135.00
Calls · V 0 · OI 0
Puts · V 1 · OI 19
Strike136.00
Calls · V 0 · OI 0
Puts · V 1 · OI 55
Strike138.00
Calls · V 0 · OI 5
Puts · V 1 · OI 2
Strike139.00
Calls · V 0 · OI 36
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts40
Avg IV0.50
Put-call0.63
Expiry14 Aug 2026
Contracts22
Avg IV0.45
Put-call0.95
Expiry21 Aug 2026
Contracts67
Avg IV0.45
Put-call1.00
Expiry28 Aug 2026
Contracts20
Avg IV0.41
Put-call0.12
Expiry4 Sep 2026
Contracts5
Avg IV0.53
Put-call-
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV0.42
Put IV0.60
Skew0.19
14 Aug 2026Balanced skew
Call IV0.42
Put IV0.43
Skew0.02
21 Aug 2026Balanced skew
Call IV0.42
Put IV0.43
Skew0.01
28 Aug 2026Balanced skew
Call IV0.40
Put IV0.41
Skew0.01
4 Sep 2026Put IV premium
Call IV0.43
Put IV0.60
Skew0.17
Contract Tape
Most active contracts
ContractDHI260807C00139000
SideCall
Expiry7 Aug 2026
Strike139.00
Volume-
OI36
IV0.55
ContractDHI260821P00144000
SidePut
Expiry21 Aug 2026
Strike144.00
Volume-
OI21
IV0.43
ContractDHI270617P00080000
SidePut
Expiry17 Jun 2027
Strike80.00
Volume-
OI10
IV0.54
ContractDHI260918P00195000
SidePut
Expiry18 Sep 2026
Strike195.00
Volume-
OI10
IV0.63
ContractDHI260807P00148000
SidePut
Expiry7 Aug 2026
Strike148.00
Volume-
OI9
IV0.72
ContractDHI261120P00095000
SidePut
Expiry20 Nov 2026
Strike95.00
Volume-
OI9
IV0.52
ContractDHI260821P00152500
SidePut
Expiry21 Aug 2026
Strike152.50
Volume-
OI8
IV0.49
ContractDHI260807C00138000
SideCall
Expiry7 Aug 2026
Strike138.00
Volume-
OI5
IV0.65
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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Earnings
No upcoming matched earnings event.
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.