Ticker Options Intelligence

WLKP options intelligence

Westlake Chemical Partners LP options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 45 Market data through 31 Jul 2026 Checked 2 Aug 2026 19:30 · complete available chain

Call-side pressure

Bullish pressure

WLKP currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 5.7%, with volume/open-interest participation at 0.29.

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

Call-side pressure

Expected move 5.7%

Near-term move context

Activity / OI 0.29

Current volume is quieter versus prior open interest

Put-call 0.81

Balanced tape

Trend fit 73

Options agree with trend context

Weekly backdrop -1.9%

RS -3.4

Expected move 5.7%
Put-call volume 0.81
Volume / OI 0.29
Reference IV 0.81
Max pain 20.00
Underlying 21.64
Nearest expiry 21 Aug 2026
Contracts 25

Research Brief

WLKP 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 20.40–22.88; The largest call open-interest concentration is 22.50; the largest put concentration is 20.00. The most active strike by current volume is 20.00.

Priced range20.40–22.88
Call concentration22.50
Put concentration20.00
Max pain reference20.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 20.40 to 22.88. Max pain at 20.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
20.4021.64 ± 1.2422.88
Confirmation level

A close beyond 22.88 or below 20.40 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 19/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure19 × 42%
+7.8

How strongly activity leans toward calls or puts.

Participation47 × 22%
+10.3

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

Trend agreement73 × 26%
+19.0

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

Volatility79 × 10%
+7.9

The intensity of implied volatility and the priced move.

Reconstructed score45.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 22.50; the largest put concentration is 20.00. The most active strike by current volume is 20.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
3
7.50-65.3%
0
0
12.50-42.2%
1
0
15.00-30.7%
1
15
17.50-19.1%
2
192
20.00-7.6%
23
24
22.504.0%
300
0
25.0015.5%
140
0
30.0038.6%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Model-estimated Greeks · 100% coverage

Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile+$29,927Delta change / 1% move
Positive peak22.50+$28,222
Negative peak20.00-$9,235
Nearest balance20.62Interpolated sign change
StrikeNegativePositiveNet / 1% move
7.50-65.3%
-$6
12.50-42.2%
-$5
15.00-30.7%
+$10
17.50-19.1%
-$149
20.00-7.6%
-$9,235
22.504.0%
+$28,222
25.0015.5%
+$10,744
30.0038.6%
+$347
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

1.09× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

0.81 21 Aug 21d
0.84 18 Sep 49d
0.57 20 Nov 112d
0.74 19 Feb 203d

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.

18
20
23
25
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

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
  • Auditable calculationoriginal version retained
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

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

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
25 / 25
  • 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

86/100
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 against weak price

Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $53,208 of estimated gross traded notional, calls · 8-21 days · itm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+19
1W price-1.9%
Call premium82%
Put premium18%
Notional split C 82% / P 18% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.29 Volume divided by open interest across the visible chain.
Trend fit 73/100 Agreement between options pressure and Sharemaestro market context.
Event window 4 Aug Matched earnings event is 1 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 · 8-21 days · ITM
Calls · 8-21 days · ITM calls cluster with 41 contracts traded, $22,605 estimated gross traded notional, and 42% of visible notional.
$22,605
Calls · 91+ days · ITM calls cluster with 70 contracts traded, $16,975 estimated gross traded notional, and 32% of visible notional.
$16,975
Puts · 8-21 days · OTM puts cluster with 147 contracts traded, $6,142 estimated gross traded notional, and 12% of visible notional.
$6,142
Puts · 91+ days · ITM puts cluster with 12 contracts traded, $3,215 estimated gross traded notional, and 6% of visible notional.
$3,215
Calls · 8-21 days · OTM calls cluster with 60 contracts traded, $2,533 estimated gross traded notional, and 5% of visible notional.
$2,533

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

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
Close21.64
1W-1.9%
RS-3.4
Fair value+9.7%
Options pressure19
Speculation47
Volatility79
Trend fit73

Today Versus Normal

Stored-options context

View history
Expected move 5.7% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.81 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.81 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.29 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 11:18 Bullish
Pressure 98
Move 9.1%
30 Jul 11:03 Bullish
Pressure 37
Move 13.6%
31 Jul 10:42 Bearish
Pressure -92
Move 9.8%
2 Aug 08:26 Mixed
Pressure 8
Move 10.3%
2 Aug 18:30 Bullish
Pressure 19
Move 5.7%

Strike Map

Where activity is clustering

Full strike map
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike12.50
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike15.00
Calls · V 20 · OI 1
Puts · V 0 · OI 0
Strike17.50
Calls · V 1 · OI 2
Puts · V 10 · OI 15
Strike20.00
Calls · V 19 · OI 23
Puts · V 137 · OI 192
Strike22.50
Calls · V 55 · OI 300
Puts · V 2 · OI 24
Strike25.00
Calls · V 4 · OI 140
Puts · V 0 · OI 0
Strike30.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts13
Avg IV0.81
Put-call1.48
Expiry18 Sep 2026
Contracts1
Avg IV0.84
Put-call-
Expiry20 Nov 2026
Contracts7
Avg IV0.57
Put-call0.03
Expiry19 Feb 2027
Contracts4
Avg IV0.74
Put-call1.43

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.39
Put IV0.54
Skew0.15
18 Sep 2026Incomplete skew
Call IV0.84
Put IV-
Skew-
20 Nov 2026Put IV premium
Call IV0.58
Put IV0.69
Skew0.11
19 Feb 2027Put IV premium
Call IV0.75
Put IV1.23
Skew0.48

Contract Tape

Most active contracts

Full contract tape
ContractWLKP260821P00007500
SidePut
Expiry21 Aug 2026
Strike7.50
Volume-
OI3
IV6.54
ContractWLKP270219P00012500
SidePut
Expiry19 Feb 2027
Strike12.50
Volume-
OI2
IV1.23
ContractWLKP260918C00022500
SideCall
Expiry18 Sep 2026
Strike22.50
Volume-
OI1
IV0.84
ContractWLKP260821C00007500
SideCall
Expiry21 Aug 2026
Strike7.50
Volume-
OI-
IV3.99
ContractWLKP260821P00025000
SidePut
Expiry21 Aug 2026
Strike25.00
Volume-
OI-
IV0.00
ContractWLKP261120P00017500
SidePut
Expiry20 Nov 2026
Strike17.50
Volume-
OI-
IV0.13
ContractWLKP260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume137
OI192
IV0.54
ContractWLKP261120C00020000
SideCall
Expiry20 Nov 2026
Strike20.00
Volume70
OI33
IV0.87