Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
CVE options intelligence
Cenovus Energy Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 29 Jul 2026
Checked 30 Jul 2026 03:43 · complete available chain
Call-side pressure
Bullish pressure
CVE currently carries bullish options pressure with a 51/100 conviction score. The nearest-chain expected move is 7.8%, with volume/open-interest participation at 0.02.
Expected move
7.8%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.36
Call-side skew
Trend fit
48
Options are not fully confirming trend
Weekly backdrop
+4.8%
RS 29.3
Expected move
7.8%
Put-call volume
0.36
Volume / OI
0.02
Reference IV
0.40
Max pain
28.00
Underlying
29.28
Nearest expiry
21 Aug 2026
Contracts
336
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.
Options pressure and weekly price action are pointing in the same constructive direction.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $481412 of estimated gross traded notional, calls · 46-90 days · itm, 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+55
1W price+4.8%
Call premium77%
Put premium23%
Notional split
C 77% / P 23%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
48/100
Agreement between options pressure and Sharemaestro market context.
Event window
30 Jul
Matched earnings event is 0 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 · 46-90 days · ITM
calls cluster with 169 contracts traded, $93585 estimated gross traded notional, and 19% of visible notional.
$93585
Calls · 46-90 days · ATM
calls cluster with 543 contracts traded, $86312 estimated gross traded notional, and 18% of visible notional.
$86312
Puts · 22-45 days · ATM
puts cluster with 450 contracts traded, $73100 estimated gross traded notional, and 15% of visible notional.
$73100
Calls · 22-45 days · ITM
calls cluster with 318 contracts traded, $67572 estimated gross traded notional, and 14% of visible notional.
$67572
Calls · 22-45 days · ATM
calls cluster with 441 contracts traded, $43942 estimated gross traded notional, and 9% of visible notional.
$43942
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Volume rank0th
Volume/OI rank0th
IV rank0th
Market Context
Underlying confirmation
Close29.28
1W+4.8%
RS29.3
Fair value+66.1%
Options pressure55
Speculation40
Volatility59
Trend fit48
Today Versus Normal
Stored-options context
30d avg 9.2% · 1 read
0th
90d avg 9.2% · 1 read
0th
180d avg 9.2% · 1 read
0th
30d avg 0.42 · 1 read
0th
90d avg 0.42 · 1 read
0th
180d avg 0.42 · 1 read
0th
30d avg 0.41 · 1 read
0th
90d avg 0.41 · 1 read
0th
180d avg 0.41 · 1 read
0th
30d avg 0.02 · 1 read
0th
90d avg 0.02 · 1 read
0th
180d avg 0.02 · 1 read
0th
Pressure Trail
Recent pressure and volatility
29 Jul 10:07
Bullish
Pressure 50
Move 9.2%
30 Jul 02:43
Bullish
Pressure 55
Move 7.8%
Strike Map
Where activity is clustering
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike18.00
Calls · V 0 · OI 14
Puts · V 0 · OI 0
Strike19.00
Calls · V 0 · OI 1
Puts · V 0 · OI 4
Strike20.00
Calls · V 0 · OI 19
Puts · V 0 · OI 4
Strike21.00
Calls · V 0 · OI 0
Puts · V 0 · OI 101
Strike22.00
Calls · V 0 · OI 1
Puts · V 0 · OI 178
Strike23.00
Calls · V 0 · OI 2
Puts · V 0 · OI 1072
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts50
Avg IV0.40
Put-call0.49
Expiry18 Sep 2026
Contracts62
Avg IV0.38
Put-call0.21
Expiry18 Dec 2026
Contracts50
Avg IV0.38
Put-call0.13
Expiry15 Jan 2027
Contracts54
Avg IV0.39
Put-call1.68
Expiry19 Mar 2027
Contracts38
Avg IV0.41
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.41
Put IV0.43
Skew0.03
18 Sep 2026Balanced skew
Call IV0.40
Put IV0.41
Skew0.02
18 Dec 2026Balanced skew
Call IV0.39
Put IV0.41
Skew0.02
15 Jan 2027Balanced skew
Call IV0.35
Put IV0.40
Skew0.05
19 Mar 2027Balanced skew
Call IV0.41
Put IV0.43
Skew0.03
Contract Tape
Most active contracts
ContractCVE260821P00030000
SidePut
Expiry21 Aug 2026
Strike30.00
Volume415
OI431
IV0.41
ContractCVE260918C00029000
SideCall
Expiry18 Sep 2026
Strike29.00
Volume338
OI823
IV0.38
ContractCVE260821C00029000
SideCall
Expiry21 Aug 2026
Strike29.00
Volume228
OI2394
IV0.41
ContractCVE260821C00030000
SideCall
Expiry21 Aug 2026
Strike30.00
Volume213
OI2208
IV0.38
ContractCVE260821C00028000
SideCall
Expiry21 Aug 2026
Strike28.00
Volume208
OI2246
IV0.42
ContractCVE260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume205
OI6417
IV0.39
ContractCVE260821C00031000
SideCall
Expiry21 Aug 2026
Strike31.00
Volume135
OI1359
IV0.41
ContractCVE260918C00031000
SideCall
Expiry18 Sep 2026
Strike31.00
Volume118
OI840
IV0.35
Research Graph
Related research and context
Sharemaestro research
Related News
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.