Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
WMTI options intelligence
REX WMT GROWTH & INCOME ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
46
Market data through 11 Sep 2026
Checked 14 Sep 2026 11:27 · complete available chain
Call-side pressure
Bullish pressure
WMTI currently carries bullish options pressure with a 46/100 conviction score. The nearest-chain expected move is 3.9%, with volume/open-interest participation at 0.00.
Expected move
3.9%
Near-term move context
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
0.00
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-0.2%
Sharemaestro weekly context
Expected move
3.9%
Put-call volume
-
Volume / OI
0.00
Reference IV
0.28
Max pain
19.00
Underlying
19.03
Nearest expiry
18 Sep 2026
Contracts
154
Research Brief
WMTI has a bullish chain read with 46/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 18.29–19.77; The largest call open-interest concentration is 20.00; the largest put concentration is 19.00. The most active strike by current volume is 19.00.
Priced range18.29–19.77
Call concentration20.00
Put concentration19.00
Max pain reference19.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 18.29 to 19.77. Max pain at 19.00 sits inside that range, 0.2% below spot.
Spot
Max pain
18.2919.03 ± 0.7419.77
Confirmation level
A close beyond 19.77 or below 18.29 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 46/100
Pressure is 100/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure100 × 42%
+42.0
How strongly activity leans toward calls or puts.
Participation3 × 22%
+0.6
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.
Volatility35 × 10%
+3.5
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 20.00; the largest put concentration is 19.00. The most active strike by current volume is 19.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
16.00-15.9%
0
1
17.00-10.7%
0
1
18.00-5.4%
0
9
19.00-0.2%
3
0
20.005.1%
46
0
21.0010.4%
1
0
22.0015.6%
21
0
23.0020.9%
0
0
24.0026.1%
0
0
25.0031.4%
0
0
26.0036.6%
0
0
27.0041.9%
0
0
28.0047.1%
0
0
29.0052.4%
2
0
30.0057.6%
0
0
31.0062.9%
0
0
32.0068.2%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile-$1,000Delta change / 1% move
Positive peak20.00+$4,794
Negative peak19.00-$7,045
Nearest balance19.60Interpolated sign change
StrikeNegativePositiveNet / 1% move
17.00-10.7%
-$18
18.00-5.4%
-$129
19.00-0.2%
-$7,045
20.005.1%
+$4,794
21.0010.4%
+$24
22.0015.6%
+$534
23.0020.9%
+$393
24.0026.1%
+$7
25.0031.4%
+$422
29.0052.4%
+$6
31.0062.9%
+$13
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.28
18 Sep
7d
0.21
16 Oct
35d
0.29
18 Dec
98d
0.30
19 Mar
189d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
16
17
18
19
20
21
22
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 4 stored directional transitions, the next stored price moved in the labelled direction 0% of the time.
Directional follow-through0%
Moves contained by pricing0%
Average expiry move11.5%
19 Aug
Volatility · 54
-12.8% through expiry
7.7% priced · v2.0
18 Aug
Mixed · 31
-12.8% through expiry
2.8% priced · v2.0
17 Aug
Volatility · 54
-12.8% through expiry
7.4% priced · v2.0
14 Aug
Bullish · 45
-12.8% through expiry
2.9% priced · v2.0
4 Aug
Bullish · 46
-10.5% through expiry
3.0% priced · v2.0
3 Aug
Bullish · 45
-10.5% through expiry
3.9% priced · v2.0
31 Jul
Mixed · 30
-10.5% through expiry
3.0% priced · v2.0
30 Jul
Bullish · 45
-9.0% through expiry
3.7% 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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Sep 2026
- Calculation
- v2.0
- Contracts
- 154 / 154
- 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
Directional flow, confirmation needed
There is useful activity, but aggregate chain data does not isolate participant intent.
Call-side pressure is building before a meaningful weekly price response.
Directional flow, confirmation needed matters because it connects the options headline to the actual evidence: $95 of estimated gross traded notional, calls · 0-7 days · atm, and a bullish 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+100
1W price-0.2%
Call premium100%
Put premium0%
Notional split
C 100% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
Calls · 0-7 days · ATM
calls cluster with 1 contracts traded, $95 estimated gross traded notional, and 100% of visible notional.
$95
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 15 completed sessions
Volume rank40th
Volume/OI rank20th
IV rank73th
Market Context
Underlying confirmation
Close19.03
1W-0.2%
RS-
Fair value-16.7%
Options pressure100
Speculation3
Volatility35
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg - · 8/10 sessions
-
90d avg - · 12/30 sessions
-
180d avg - · 12/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 13:26
Bullish
Pressure 100
Move 3.8%
30 Jul 13:13
Mixed
Pressure 12
Move 2.3%
31 Jul 12:52
Bullish
Pressure 100
Move 3.7%
3 Aug 11:42
Mixed
Pressure 12
Move 3.0%
4 Aug 12:52
Bullish
Pressure 100
Move 3.9%
5 Aug 13:15
Bullish
Pressure 100
Move 3.0%
17 Aug 09:16
Bullish
Pressure 100
Move 2.9%
17 Aug 15:06
Volatility
Pressure 99
Move 7.4%
Strike Map
Where activity is clustering
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike18.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike19.00
Calls · V 1 · OI 3
Puts · V 0 · OI 9
Strike20.00
Calls · V 0 · OI 46
Puts · V 0 · OI 0
Strike21.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike22.00
Calls · V 0 · OI 21
Puts · V 0 · OI 0
Strike23.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts36
Avg IV0.28
Put-call-
Expiry16 Oct 2026
Contracts38
Avg IV0.21
Put-call-
Expiry18 Dec 2026
Contracts42
Avg IV0.29
Put-call-
Expiry19 Mar 2027
Contracts38
Avg IV0.30
Put-call-
Skew
Call/put IV balance
18 Sep 2026Call IV premium
Call IV0.21
Put IV0.02
Skew-0.19
16 Oct 2026Call IV premium
Call IV0.09
Put IV0.01
Skew-0.08
18 Dec 2026Put IV premium
Call IV0.04
Put IV0.43
Skew0.39
19 Mar 2027Put IV premium
Call IV0.21
Put IV0.46
Skew0.25
Contract Tape
Most active contracts
ContractWMTI260918C00019000
SideCall
Expiry18 Sep 2026
Strike19.00
Volume1
OI3
IV0.01
ContractWMTI270319C00025000
SideCall
Expiry19 Mar 2027
Strike25.00
Volume-
OI51
IV0.15
ContractWMTI260918C00020000
SideCall
Expiry18 Sep 2026
Strike20.00
Volume-
OI46
IV0.21
ContractWMTI261218C00023000
SideCall
Expiry18 Dec 2026
Strike23.00
Volume-
OI40
IV0.16
ContractWMTI261218C00025000
SideCall
Expiry18 Dec 2026
Strike25.00
Volume-
OI36
IV0.22
ContractWMTI270319C00020000
SideCall
Expiry19 Mar 2027
Strike20.00
Volume-
OI27
IV0.21
ContractWMTI261218C00019000
SideCall
Expiry18 Dec 2026
Strike19.00
Volume-
OI22
IV0.10
ContractWMTI260918C00022000
SideCall
Expiry18 Sep 2026
Strike22.00
Volume-
OI21
IV0.50
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.