Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
BROS options intelligence
Dutch Bros Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 1 Aug 2026 22:06 · complete available chain
Options-market disagreement
Mixed pressure
BROS currently carries mixed options pressure with a 45/100 conviction score. The nearest-chain expected move is 11.6%, with volume/open-interest participation at 0.04.
Expected move
11.6%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
0.85
Balanced tape
Trend fit
79
Options agree with trend context
Weekly backdrop
+2.9%
RS 3.3
Expected move
11.6%
Put-call volume
0.85
Volume / OI
0.04
Reference IV
1.05
Max pain
65.00
Underlying
65.83
Nearest expiry
7 Aug 2026
Contracts
732
Research Brief
BROS has a mixed 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 58.18–73.48; The largest call open-interest concentration is 71.00; the largest put concentration is 53.00. The most active strike by current volume is 53.00.
Priced range58.18–73.48
Call concentration71.00
Put concentration53.00
Max pain reference65.00
- 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 58.18 to 73.48. Max pain at 65.00 sits inside that range, 1.3% below spot.
Spot
Max pain
58.1865.83 ± 7.6573.48
Confirmation level
A close beyond 73.48 or below 58.18 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 45/100
Pressure is 13/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure13 × 42%
+5.6
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement79 × 26%
+20.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 71.00; the largest put concentration is 53.00. The most active strike by current volume is 53.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
252
53.00-19.5%
0
70
54.00-18.0%
0
70
55.00-16.5%
1
124
60.00-8.9%
7
18
62.00-5.8%
30
66
63.00-4.3%
1
165
65.00-1.3%
46
13
66.000.3%
69
10
67.001.8%
60
3
68.003.3%
102
3
69.004.8%
58
46
70.006.3%
194
1
71.007.9%
272
1
72.009.4%
56
0
73.0010.9%
72
0
74.0012.4%
104
0
75.0013.9%
73
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.
1.05
7 Aug
7d
0.85
14 Aug
14d
0.71
21 Aug
21d
0.67
28 Aug
28d
0.62
4 Sep
35d
0.58
11 Sep
42d
0.58
18 Sep
49d
0.55
16 Oct
77d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
53
54
55
57
58
59
61
62
63
64
65
67
68
69
71
72
73
74
75
77
78
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 quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 732 / 732
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $563908 of estimated gross traded notional, calls · 0-7 days · otm, 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+13
1W price+2.9%
Call premium86%
Put premium14%
Notional split
C 86% / P 14%
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
79/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 4 days away.
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 · OTM
calls cluster with 584 contracts traded, $123395 estimated gross traded notional, and 22% of visible notional.
$123395
Calls · 46-90 days · ITM
calls cluster with 32 contracts traded, $82720 estimated gross traded notional, and 15% of visible notional.
$82720
Calls · 91+ days · OTM
calls cluster with 87 contracts traded, $69612 estimated gross traded notional, and 12% of visible notional.
$69612
Calls · 91+ days · ITM
calls cluster with 26 contracts traded, $51080 estimated gross traded notional, and 9% of visible notional.
$51080
Calls · 0-7 days · ATM
calls cluster with 105 contracts traded, $43445 estimated gross traded notional, and 8% of visible notional.
$43445
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close65.83
1W+2.9%
RS3.3
Fair value+36.7%
Options pressure13
Speculation41
Volatility96
Trend fit79
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 10:28
Mixed
Pressure -5
Move 4.4%
30 Jul 10:24
Volatility
Pressure -36
Move 4.5%
30 Jul 20:33
Bearish
Pressure -22
Move 3.2%
31 Jul 08:40
Bearish
Pressure -39
Move 3.2%
31 Jul 20:53
Mixed
Pressure 14
Move 3.8%
1 Aug 09:29
Mixed
Pressure 13
Move 12.2%
1 Aug 21:06
Mixed
Pressure 13
Move 11.6%
Strike Map
Where activity is clustering
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike47.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike47.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike48.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike48.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike49.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts100
Avg IV1.05
Put-call1.14
Expiry14 Aug 2026
Contracts96
Avg IV0.85
Put-call0.93
Expiry21 Aug 2026
Contracts88
Avg IV0.71
Put-call0.36
Expiry28 Aug 2026
Contracts68
Avg IV0.67
Put-call1.42
Expiry4 Sep 2026
Contracts66
Avg IV0.62
Put-call0.28
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV1.04
Put IV1.05
Skew0.01
14 Aug 2026Balanced skew
Call IV0.85
Put IV0.88
Skew0.03
21 Aug 2026Balanced skew
Call IV0.73
Put IV0.74
Skew0.01
28 Aug 2026Balanced skew
Call IV0.68
Put IV0.69
Skew0.01
4 Sep 2026Call IV premium
Call IV0.67
Put IV0.55
Skew-0.12
Contract Tape
Most active contracts
ContractBROS260807P00053000
SidePut
Expiry7 Aug 2026
Strike53.00
Volume588
OI252
IV0.63
ContractBROS260807C00070000
SideCall
Expiry7 Aug 2026
Strike70.00
Volume380
OI194
IV1.08
ContractBROS260807P00055000
SidePut
Expiry7 Aug 2026
Strike55.00
Volume78
OI70
IV0.53
ContractBROS260807C00065000
SideCall
Expiry7 Aug 2026
Strike65.00
Volume72
OI46
IV1.11
ContractBROS270115C00070000
SideCall
Expiry15 Jan 2027
Strike70.00
Volume58
OI696
IV0.55
ContractBROS260911C00070000
SideCall
Expiry11 Sep 2026
Strike70.00
Volume50
OI-
IV0.55
ContractBROS260821P00055000
SidePut
Expiry21 Aug 2026
Strike55.00
Volume44
OI629
IV0.73
ContractBROS260807C00075000
SideCall
Expiry7 Aug 2026
Strike75.00
Volume43
OI73
IV1.14
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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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.