Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
LVS options intelligence
Las Vegas Sands Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 31 Jul 2026
Checked 1 Aug 2026 04:54 · complete available chain
Call-side pressure
Bullish pressure
LVS currently carries bullish options pressure with a 40/100 conviction score. The nearest-chain expected move is 4.0%, with volume/open-interest participation at 0.06.
Expected move
4.0%
Near-term move context
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.42
Call-side skew
Trend fit
24
Options are not fully confirming trend
Weekly backdrop
+6.1%
RS -18.3
Expected move
4.0%
Put-call volume
0.42
Volume / OI
0.06
Reference IV
0.76
Max pain
46.50
Underlying
46.08
Nearest expiry
31 Jul 2026
Contracts
830
Research Brief
LVS has a bullish chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 44.26–47.90; The largest call open-interest concentration is 51.00; the largest put concentration is 43.00. The most active strike by current volume is 49.00.
Priced range44.26–47.90
Call concentration51.00
Put concentration43.00
Max pain reference46.50
- 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.
- 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 44.26 to 47.90. Max pain at 46.50 sits inside that range, 0.9% above spot.
Spot
Max pain
44.2646.08 ± 1.8247.90
Confirmation level
A close beyond 47.90 or below 44.26 at the 31 Jul 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 40/100
Pressure is 44/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure44 × 42%
+18.3
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement24 × 26%
+6.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility69 × 10%
+6.9
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 51.00; the largest put concentration is 43.00. The most active strike by current volume is 49.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
94
30.00-34.9%
11
327
40.00-13.2%
3
83
41.00-11.0%
9
70
42.00-8.9%
13
843
43.00-6.7%
22
115
44.00-4.5%
61
72
44.50-3.4%
3
99
45.00-2.3%
20
100
45.50-1.3%
31
184
46.00-0.2%
534
602
46.500.9%
94
144
47.002.0%
147
463
47.503.1%
293
9
48.004.2%
165
11
49.006.3%
272
10
50.008.5%
177
0
51.0010.7%
4087
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.
0.76
31 Jul
0d
0.48
7 Aug
7d
0.41
14 Aug
14d
0.37
21 Aug
21d
0.34
28 Aug
28d
0.34
4 Sep
35d
0.32
11 Sep
42d
0.35
18 Sep
49d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
37
38
39
40
40
41
42
43
43
44
45
46
47
47
48
49
50
50
52
53
55
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
- 830 / 830
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $1.0M of estimated gross traded notional, calls · 0-7 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+44
1W price+6.1%
Call premium75%
Put premium25%
Notional split
C 75% / P 25%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
24/100
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 · OTM
calls cluster with 4400 contracts traded, $379068 estimated gross traded notional, and 38% of visible notional.
$379068
Calls · 0-7 days · ITM
calls cluster with 70 contracts traded, $65800 estimated gross traded notional, and 7% of visible notional.
$65800
Calls · 91+ days · OTM
calls cluster with 159 contracts traded, $65190 estimated gross traded notional, and 6% of visible notional.
$65190
Calls · 8-21 days · OTM
calls cluster with 476 contracts traded, $64835 estimated gross traded notional, and 6% of visible notional.
$64835
Calls · 8-21 days · ATM
calls cluster with 248 contracts traded, $64132 estimated gross traded notional, and 6% of visible notional.
$64132
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
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
Close48.89
1W+6.1%
RS-18.3
Fair value+1.7%
Options pressure44
Speculation41
Volatility69
Trend fit24
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 10:13
Mixed
Pressure -15
Move 5.4%
30 Jul 00:59
Mixed
Pressure -14
Move 6.5%
30 Jul 15:16
Volatility
Pressure 59
Move 8.2%
30 Jul 21:26
Volatility
Pressure 65
Move 8.1%
31 Jul 13:14
Bullish
Pressure 87
Move 8.1%
31 Jul 15:40
Mixed
Pressure 13
Move 6.6%
31 Jul 18:14
Mixed
Pressure 9
Move 6.5%
1 Aug 03:54
Bullish
Pressure 44
Move 4.0%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 7 · OI 11
Puts · V 0 · OI 94
Strike35.00
Calls · V 0 · OI 5
Puts · V 2 · OI 44
Strike36.00
Calls · V 5 · OI 3
Puts · V 2 · OI 2
Strike37.00
Calls · V 8 · OI 4
Puts · V 2 · OI 0
Strike37.50
Calls · V 2 · OI 6
Puts · V 2 · OI 0
Strike38.00
Calls · V 6 · OI 5
Puts · V 0 · OI 14
Strike38.50
Calls · V 0 · OI 6
Puts · V 0 · OI 0
Strike39.00
Calls · V 1 · OI 6
Puts · V 0 · OI 39
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts90
Avg IV0.76
Put-call0.14
Expiry7 Aug 2026
Contracts80
Avg IV0.48
Put-call0.17
Expiry14 Aug 2026
Contracts78
Avg IV0.41
Put-call0.02
Expiry21 Aug 2026
Contracts84
Avg IV0.37
Put-call0.62
Expiry28 Aug 2026
Contracts56
Avg IV0.34
Put-call53.32
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.04
Put IV0.56
Skew0.52
7 Aug 2026Put IV premium
Call IV0.32
Put IV0.48
Skew0.17
14 Aug 2026Call IV premium
Call IV0.68
Put IV0.54
Skew-0.14
21 Aug 2026Put IV premium
Call IV0.30
Put IV0.37
Skew0.07
28 Aug 2026Put IV premium
Call IV0.30
Put IV0.36
Skew0.06
Contract Tape
Most active contracts
ContractLVS260807C00048000
SideCall
Expiry7 Aug 2026
Strike48.00
Volume2139
OI24
IV0.30
ContractLVS260807C00050000
SideCall
Expiry7 Aug 2026
Strike50.00
Volume1610
OI80
IV0.34
ContractLVS260828P00044000
SidePut
Expiry28 Aug 2026
Strike44.00
Volume906
OI7
IV0.38
ContractLVS260807P00048000
SidePut
Expiry7 Aug 2026
Strike48.00
Volume440
OI112
IV0.40
ContractLVS261016C00060000
SideCall
Expiry16 Oct 2026
Strike60.00
Volume302
OI17
IV0.33
ContractLVS260814C00047000
SideCall
Expiry14 Aug 2026
Strike47.00
Volume245
OI414
IV0.37
ContractLVS260918C00050000
SideCall
Expiry18 Sep 2026
Strike50.00
Volume241
OI2145
IV0.29
ContractLVS260821C00049000
SideCall
Expiry21 Aug 2026
Strike49.00
Volume237
OI249
IV0.30
Research Graph
Related research and context
Sharemaestro research
Related News
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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.