{"latest_run": "2026-07-30T20:50:00.022982+00:00", "coverage_count": 6116, "result_count": 1, "page": 1, "pages": 1, "filters": {"q": "", "ticker": "M", "sector": "", "industry": "", "direction": "", "min_score": 0, "page": 1}, "summary": {"total": 1, "avg_conviction": 47.37, "avg_conviction_label": "47.4", "bullish": 0, "bearish": 0, "volatility": 1, "mixed": 0, "leader": "M", "leader_score": "47", "leader_direction": "volatility", "leader_direction_label": "Volatility", "leader_tone": "warning", "leader_read": "The strongest current read is about a larger expected move, not a clean up-or-down direction."}, "charts": {"sectors": [{"ticker__sector": "Consumer Cyclical", "count": 1, "avg_score": "47.37", "sector_label": "Consumer Cyclical", "industry_label": "", "sector_url": "/structure/us/consumer-cyclical/", "industry_url": "", "bar_width": 100.0}], "directions": [{"direction": "volatility", "count": 1, "bar_width": 100.0}], "score_bands": [{"slug": "80-plus", "label": "80+", "min": "80", "max": null, "title": "80+ conviction options signals", "summary": "The strongest current options reads, where pressure, participation, volatility context, and trend fit are most aligned.", "count": 0, "url": "/options/conviction/80-plus/", "bar_width": 0.0}, {"slug": "60-79", "label": "60-79", "min": "60", "max": "80", "title": "60-79 conviction options signals", "summary": "Strong options setups with meaningful evidence, usually worth deeper confirmation in the ticker detail and weekly chart.", "count": 0, "url": "/options/conviction/60-79/", "bar_width": 0.0}, {"slug": "40-59", "label": "40-59", "min": "40", "max": "60", "title": "40-59 conviction options signals", "summary": "Developing options reads where the tape is active, but one or more confirmation layers still need context.", "count": 1, "url": "/options/conviction/40-59/", "bar_width": 100.0}, {"slug": "under-40", "label": "<40", "min": null, "max": "40", "title": "Under 40 conviction options signals", "summary": "Early, mixed, or lower-conviction options reads that can still be useful as watchlist context.", "count": 0, "url": "/options/conviction/under-40/", "bar_width": 0.0}]}, "signals": [{"symbol": "M", "name": "Macy\u2019s Inc", "exchange": "NYSE", "country": "US", "currency": "USD", "sector": "Consumer Cyclical", "industry": "Department Stores", "sector_url": "https://sharemaestro.com/structure/us/consumer-cyclical/", "industry_url": "https://sharemaestro.com/structure/us/consumer-cyclical/department-stores/", "direction": "volatility", "direction_label": "Volatility", "tone": "warning", "conviction_score": 47.37, "options_pressure_score": -16.57, "trend_confirmation_score": 87.82, "speculation_score": 42.55, "volatility_score": 82.18, "edge_label": "Volatility expansion watch", "insight": "M shows volatility options pressure with a 47/100 conviction score, put-call volume ratio of 1.40, expected move of 6.5%, and Sharemaestro trend signal active.", "fetched_at": "2026-07-30T19:32:26.972237+00:00", "snapshot": {"fetched_at": "2026-07-30T19:32:26.972237+00:00", "underlying_price": 23.38, "total_contracts": 502, "call_contracts": 269, "put_contracts": 233, "call_volume": 6969, "put_volume": 9783, "call_open_interest": 77015, "put_open_interest": 75565, "put_call_volume_ratio": 1.4037882, "put_call_open_interest_ratio": 0.9811725, "volume_open_interest_ratio": 0.10979158, "avg_implied_volatility": 0.81201445, "max_pain_strike": 23.0, "expected_move_percent": 6.54405475, "nearest_expiration": "2026-07-31"}, "market": {"latest_close": 23.38, "one_week_change": -1.2668918918918919, "one_week_change_label": "-1.3%", "relative_strength": 11.346718, "fair_value_gap_label": "+45.9%", "trend_signal": "1"}, "premium_flags": [{"label": "Persistent pressure", "value": "3x", "detail": "Volatility pressure has repeated across recent market sessions."}, {"label": "Pin watch", "value": "+1.6%", "detail": "Underlying price is close to max pain, useful for expiry-week context."}, {"label": "Priced move", "value": "6.5%", "detail": "Options are pricing a wider near-term move."}, {"label": "Trend agreement", "value": "88", "detail": "Options positioning and Sharemaestro trend context are aligned."}], "intent": {"slug": "volatility-expansion-bet", "label": "Volatility expansion bet", "tone": "warning", "confidence": 84.7, "confidence_label": "85/100", "summary": "The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.", "evidence": [{"label": "Notional split", "value": "C 68% / P 32%", "detail": "Estimated gross traded notional uses volume \u00d7 contract multiplier \u00d7 midpoint, or last price when no valid midpoint is available."}, {"label": "Freshness", "value": "0.11", "detail": "Volume divided by open interest across the visible chain."}, {"label": "Trend fit", "value": "88/100", "detail": "Agreement between options pressure and Sharemaestro market context."}], "watchouts": ["Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction."]}, "flow_divergence": {"label": "Volatility flow versus price", "tone": "warning", "score": 18.9, "score_label": "19/100", "summary": "Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.", "metrics": [{"label": "Options pressure", "value": "-17"}, {"label": "1W price", "value": "-1.3%"}, {"label": "Call premium", "value": "68%"}, {"label": "Put premium", "value": "32%"}]}, "conviction_clusters": [{"label": "Calls \u00b7 91+ days \u00b7 ITM", "tone": "positive", "volume": 690, "open_interest": 7324, "premium": 924510.0, "premium_label": "$924510", "premium_share": 31.626771866879587, "weighted_strike": 11.379710144927536, "avg_iv": 0.6885992706451612, "max_voi": 1.15730337, "why": "calls cluster with 690 contracts traded, $924510 estimated gross traded notional, and 32% of visible notional."}, {"label": "Puts \u00b7 46-90 days \u00b7 ATM", "tone": "negative", "volume": 4761, "open_interest": 559, "premium": 516568.5, "premium_label": "$516568", "premium_share": 17.67140874962541, "weighted_strike": 23.0, "avg_iv": 0.53369607, "max_voi": 8.51699463, "why": "puts cluster with 4761 contracts traded, $516568 estimated gross traded notional, and 18% of visible notional."}, {"label": "Calls \u00b7 46-90 days \u00b7 OTM", "tone": "positive", "volume": 2636, "open_interest": 5794, "premium": 407725.0, "premium_label": "$407725", "premium_share": 13.947956819746112, "weighted_strike": 26.075493171471926, "avg_iv": 0.52490709375, "max_voi": 2.39200761, "why": "calls cluster with 2636 contracts traded, $407725 estimated gross traded notional, and 14% of visible notional."}, {"label": "Calls \u00b7 91+ days \u00b7 OTM", "tone": "positive", "volume": 718, "open_interest": 15000, "premium": 177571.5, "premium_label": "$177572", "premium_share": 6.074583639505909, "weighted_strike": 28.54735376044568, "avg_iv": 0.5120694945238096, "max_voi": 1.52941176, "why": "calls cluster with 718 contracts traded, $177572 estimated gross traded notional, and 6% of visible notional."}, {"label": "Puts \u00b7 91+ days \u00b7 ITM", "tone": "negative", "volume": 474, "open_interest": 1065, "premium": 171716.0, "premium_label": "$171716", "premium_share": 5.874271514524553, "weighted_strike": 25.588607594936708, "avg_iv": 0.558390992, "max_voi": 2.42307692, "why": "puts cluster with 474 contracts traded, $171716 estimated gross traded notional, and 6% of visible notional."}], "why_this_matters": "Volatility expansion bet matters because it connects the options headline to the actual evidence: $2.9M of estimated gross traded notional, calls \u00b7 91+ days \u00b7 itm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.", "detail_url": "https://sharemaestro.com/options/ticker/d915d870-2d5c-44da-a426-4c62505af362/", "research_links": {"chart": "/terminal/d915d870-2d5c-44da-a426-4c62505af362/", "report": "/terminal/d915d870-2d5c-44da-a426-4c62505af362/report/", "factor": "/factors/ticker/d915d870-2d5c-44da-a426-4c62505af362/", "insider": "/insider-activity/company/m/"}}], "disclaimer": "Educational market research only. Not financial, investment, trading, tax, or legal advice."}