Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
LEN options intelligence
Lennar Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 2 Aug 2026 14:21 · complete available chain
Put-side pressure
Bearish pressure
LEN currently carries bearish options pressure with a 45/100 conviction score. The nearest-chain expected move is 3.9%, with volume/open-interest participation at 0.03.
Expected move
3.9%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
1.59
Put-side skew
Trend fit
86
Options agree with trend context
Weekly backdrop
-2.7%
RS -30.1
Expected move
3.9%
Put-call volume
1.59
Volume / OI
0.03
Reference IV
0.35
Max pain
83.00
Underlying
82.35
Nearest expiry
7 Aug 2026
Contracts
878
Research Brief
LEN has a bearish 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 79.15–85.55; The largest call open-interest concentration is 93.00; the largest put concentration is 80.00. The most active strike by current volume is 90.00.
Priced range79.15–85.55
Call concentration93.00
Put concentration80.00
Max pain reference83.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 79.15 to 85.55. Max pain at 83.00 sits inside that range, 0.8% above spot.
Spot
Max pain
79.1582.35 ± 3.2085.55
Confirmation level
A close beyond 85.55 or below 79.15 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 22/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure22 × 42%
+9.4
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement86 × 26%
+22.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility40 × 10%
+4.0
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 93.00; the largest put concentration is 80.00. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
31
75.00-8.9%
0
68
79.00-4.1%
0
246
80.00-2.9%
3
30
81.00-1.6%
2
15
82.00-0.4%
4
19
83.000.8%
156
29
84.002.0%
9
17
85.003.2%
19
7
86.004.4%
87
11
89.008.1%
40
21
90.009.3%
146
2
91.0010.5%
160
0
92.0011.7%
135
3
93.0012.9%
190
0
94.0014.1%
54
0
95.0015.4%
120
0
96.0016.6%
45
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.35
7 Aug
7d
0.37
14 Aug
14d
0.38
21 Aug
21d
0.38
28 Aug
28d
0.38
4 Sep
35d
0.39
11 Sep
42d
0.41
18 Sep
49d
0.40
20 Nov
112d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
70
71
73
74
76
77
78
80
81
83
84
85
87
88
90
91
92
94
95
97
98
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
- 878 / 878
- 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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Options pressure and weekly price action are both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $979707 of estimated gross traded notional, puts · 8-21 days · itm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-22
1W price-2.7%
Call premium13%
Put premium87%
Notional split
C 13% / P 87%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
86/100
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.
Puts · 8-21 days · ITM
puts cluster with 308 contracts traded, $344160 estimated gross traded notional, and 35% of visible notional.
$344160
Puts · 91+ days · ITM
puts cluster with 227 contracts traded, $259270 estimated gross traded notional, and 26% of visible notional.
$259270
Puts · 91+ days · OTM
puts cluster with 302 contracts traded, $77165 estimated gross traded notional, and 8% of visible notional.
$77165
Puts · 46-90 days · ITM
puts cluster with 81 contracts traded, $75260 estimated gross traded notional, and 8% of visible notional.
$75260
Calls · 91+ days · OTM
calls cluster with 112 contracts traded, $42048 estimated gross traded notional, and 4% of visible notional.
$42048
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Put pressure is building after the stock has already moved below 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
Close82.35
1W-2.7%
RS-30.1
Fair value-34.0%
Options pressure-22
Speculation41
Volatility40
Trend fit86
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 10:17
Bullish
Pressure 32
Move 5.8%
30 Jul 10:13
Bearish
Pressure -20
Move 3.3%
30 Jul 22:52
Bullish
Pressure 25
Move 2.3%
31 Jul 12:25
Mixed
Pressure 6
Move 2.3%
31 Jul 15:52
Bullish
Pressure 26
Move 3.2%
1 Aug 07:01
Bearish
Pressure -22
Move 4.2%
2 Aug 13:21
Bearish
Pressure -22
Move 3.9%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike71.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike72.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike73.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike74.00
Calls · V 0 · OI 0
Puts · V 12 · OI 7
Strike75.00
Calls · V 0 · OI 0
Puts · V 8 · OI 31
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts86
Avg IV0.35
Put-call0.45
Expiry14 Aug 2026
Contracts76
Avg IV0.37
Put-call4.95
Expiry21 Aug 2026
Contracts98
Avg IV0.38
Put-call2.31
Expiry28 Aug 2026
Contracts72
Avg IV0.38
Put-call0.21
Expiry4 Sep 2026
Contracts70
Avg IV0.38
Put-call0.22
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.35
Put IV0.36
Skew0.01
14 Aug 2026Put IV premium
Call IV0.39
Put IV0.48
Skew0.10
21 Aug 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
28 Aug 2026Balanced skew
Call IV0.39
Put IV0.41
Skew0.03
4 Sep 2026Balanced skew
Call IV0.37
Put IV0.39
Skew0.02
Contract Tape
Most active contracts
ContractLEN261120P00070000
SidePut
Expiry20 Nov 2026
Strike70.00
Volume255
OI363
IV0.41
ContractLEN261120P00090000
SidePut
Expiry20 Nov 2026
Strike90.00
Volume220
OI52
IV0.40
ContractLEN260807C00090000
SideCall
Expiry7 Aug 2026
Strike90.00
Volume172
OI146
IV0.27
ContractLEN260821P00090000
SidePut
Expiry21 Aug 2026
Strike90.00
Volume161
OI1481
IV0.27
ContractLEN260807C00084000
SideCall
Expiry7 Aug 2026
Strike84.00
Volume161
OI9
IV0.36
ContractLEN260807C00085000
SideCall
Expiry7 Aug 2026
Strike85.00
Volume134
OI19
IV0.35
ContractLEN260821P00100000
SidePut
Expiry21 Aug 2026
Strike100.00
Volume118
OI292
IV0.01
ContractLEN260807P00080000
SidePut
Expiry7 Aug 2026
Strike80.00
Volume109
OI246
IV0.36
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
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.