Ticker Options Intelligence

CBL options intelligence

CBL & Associates Properties Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 45 Market data through 31 Jul 2026 Checked 2 Aug 2026 16:05 · complete available chain

Call-side pressure

Bullish pressure

CBL currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 7.1%, with volume/open-interest participation at 0.04.

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

Call-side pressure

Expected move 7.1%

Wider near-term move priced

Activity / OI 0.04

Current volume is quieter versus prior open interest

Put-call 0.17

Call-side skew

Trend fit 51

Options are not fully confirming trend

Weekly backdrop +2.0%

RS 42.7

Expected move 7.1%
Put-call volume 0.17
Volume / OI 0.04
Reference IV 0.26
Max pain 55.00
Underlying 58.71
Nearest expiry 21 Aug 2026
Contracts 192

Research Brief

CBL 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 54.56–62.86; The largest call open-interest concentration is 55.00; the largest put concentration is 50.00. The most active strike by current volume is 40.00.

Priced range54.56–62.86
Call concentration55.00
Put concentration50.00
Max pain reference55.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 54.56 to 62.86. Max pain at 55.00 sits inside that range, 6.3% below spot.

Spot Max pain
54.5658.71 ± 4.1562.86
Confirmation level

A close beyond 62.86 or below 54.56 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 59/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure59 × 42%
+24.6

How strongly activity leans toward calls or puts.

Participation9 × 22%
+2.0

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

Trend agreement51 × 26%
+13.3

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

Volatility47 × 10%
+4.7

The intensity of implied volatility and the priced move.

Reconstructed score44.5Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 55.00; the largest put concentration is 50.00. The most active strike by current volume is 40.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
40.00-31.9%
0
0
41.00-30.2%
0
0
42.00-28.5%
0
0
43.00-26.8%
0
0
44.00-25.1%
0
0
45.00-23.4%
0
0
46.00-21.6%
0
0
47.00-19.9%
0
0
48.00-18.2%
0
1
49.00-16.5%
0
88
50.00-14.8%
1
29
55.00-6.3%
30
0
60.002.2%
25
0
65.0010.7%
0
0
70.0019.2%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Back-loaded volatility

0.87× front/back

Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.

0.26 21 Aug 21d
0.34 18 Sep 49d
0.30 16 Oct 77d
0.29 20 Nov 112d
0.30 15 Jan 168d

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.

47
48
49
50
55
60
65
70
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
192 / 192
  • 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

69/100
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 confirms price

Options pressure and weekly price action are pointing in the same constructive direction.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $2540 of estimated gross traded notional, calls · 46-90 days · otm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+59
1W price+2.0%
Call premium80%
Put premium20%
Notional split C 80% / P 20% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.04 Volume divided by open interest across the visible chain.
Trend fit 51/100 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 Calls · 46-90 days · OTM
Calls · 46-90 days · OTM calls cluster with 29 contracts traded, $2030 estimated gross traded notional, and 80% of visible notional.
$2030
Puts · 46-90 days · OTM puts cluster with 3 contracts traded, $320 estimated gross traded notional, and 13% of visible notional.
$320
Puts · 91+ days · OTM puts cluster with 2 contracts traded, $190 estimated gross traded notional, and 7% of visible notional.
$190

Setup Classification

Opportunity and risk frame

Context, not advice
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
Close58.71
1W+2.0%
RS42.7
Fair value+115.6%
Options pressure59
Speculation9
Volatility47
Trend fit51

Today Versus Normal

Stored-options context

View history
Expected move 7.1% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.26 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.17 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.04 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 11:07 Bearish
Pressure -69
Move 8.4%
30 Jul 10:54 Bearish
Pressure -76
Move 8.1%
31 Jul 05:51 Mixed
Pressure 13
Move 7.6%
1 Aug 07:51 Bullish
Pressure 59
Move 7.2%
2 Aug 15:05 Bullish
Pressure 59
Move 7.1%

Strike Map

Where activity is clustering

Full strike map
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike41.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike42.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike43.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike44.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike46.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike47.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts30
Avg IV0.26
Put-call-
Expiry18 Sep 2026
Contracts18
Avg IV0.34
Put-call0.03
Expiry16 Oct 2026
Contracts56
Avg IV0.30
Put-call-
Expiry20 Nov 2026
Contracts44
Avg IV0.29
Put-call-
Expiry15 Jan 2027
Contracts44
Avg IV0.30
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.33
Put IV0.13
Skew-0.20
18 Sep 2026Put IV premium
Call IV0.30
Put IV0.39
Skew0.09
16 Oct 2026Balanced skew
Call IV0.28
Put IV0.32
Skew0.04
20 Nov 2026Balanced skew
Call IV0.31
Put IV0.36
Skew0.05
15 Jan 2027Put IV premium
Call IV0.26
Put IV0.39
Skew0.13

Contract Tape

Most active contracts

Full contract tape
ContractCBL260918C00065000
SideCall
Expiry18 Sep 2026
Strike65.00
Volume29
OI-
IV0.30
ContractCBL270115P00045000
SidePut
Expiry15 Jan 2027
Strike45.00
Volume1
OI4
IV0.41
ContractCBL261016P00049830
SidePut
Expiry16 Oct 2026
Strike49.83
Volume1
OI3
IV0.40
ContractCBL261016P00055000
SidePut
Expiry16 Oct 2026
Strike55.00
Volume1
OI2
IV0.32
ContractCBL261120P00046830
SidePut
Expiry20 Nov 2026
Strike46.83
Volume1
OI1
IV0.40
ContractCBL260918P00050000
SidePut
Expiry18 Sep 2026
Strike50.00
Volume1
OI-
IV0.43
ContractCBL261120P00022830
SidePut
Expiry20 Nov 2026
Strike22.83
Volume-
OI196
IV0.62
ContractCBL270115P00035000
SidePut
Expiry15 Jan 2027
Strike35.00
Volume-
OI182
IV0.51