{"latest_run": "2026-07-30T20:50:00.022982+00:00", "coverage_count": 6116, "result_count": 1, "page": 1, "pages": 1, "filters": {"q": "", "ticker": "PGR", "sector": "", "industry": "", "direction": "", "min_score": 0, "page": 1}, "summary": {"total": 1, "avg_conviction": 51.13, "avg_conviction_label": "51.1", "bullish": 0, "bearish": 1, "volatility": 0, "mixed": 0, "leader": "PGR", "leader_score": "51", "leader_direction": "bearish", "leader_direction_label": "Bearish", "leader_tone": "negative", "leader_read": "The strongest current read leans put-side, which is usually a caution flag or downside-risk signal."}, "charts": {"sectors": [{"ticker__sector": "Financial Services", "count": 1, "avg_score": "51.13", "sector_label": "Financial Services", "industry_label": "", "sector_url": "/structure/us/financial-services/", "industry_url": "", "bar_width": 100.0}], "directions": [{"direction": "bearish", "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": "PGR", "name": "Progressive Corp", "exchange": "NYSE", "country": "US", "currency": "USD", "sector": "Financial Services", "industry": "Insurance - Property & Casualty", "sector_url": "https://sharemaestro.com/structure/us/financial-services/", "industry_url": "https://sharemaestro.com/structure/us/financial-services/insurance-property-casualty/", "direction": "bearish", "direction_label": "Bearish", "tone": "negative", "conviction_score": 51.13, "options_pressure_score": -60.87, "trend_confirmation_score": 47.8, "speculation_score": 41.07, "volatility_score": 41.01, "edge_label": "Put-side pressure", "insight": "PGR shows bearish options pressure with a 51/100 conviction score, put-call volume ratio of 4.17, expected move of 3.1%, and Sharemaestro trend signal active.", "fetched_at": "2026-07-30T06:27:09.681927+00:00", "snapshot": {"fetched_at": "2026-07-30T06:27:09.681927+00:00", "underlying_price": 213.83, "total_contracts": 1210, "call_contracts": 605, "put_contracts": 605, "call_volume": 560, "put_volume": 2336, "call_open_interest": 31936, "put_open_interest": 30730, "put_call_volume_ratio": 4.17142857, "put_call_open_interest_ratio": 0.96223697, "volume_open_interest_ratio": 0.04621326, "avg_implied_volatility": 0.40877125, "max_pain_strike": 212.5, "expected_move_percent": 3.09825562, "nearest_expiration": "2026-07-31"}, "market": {"latest_close": 213.83, "one_week_change": 2.827602789132003, "one_week_change_label": "+2.8%", "relative_strength": -6.897583, "fair_value_gap_label": "+4.3%", "trend_signal": "1"}, "premium_flags": [{"label": "Pin watch", "value": "+0.6%", "detail": "Underlying price is close to max pain, useful for expiry-week context."}], "intent": {"slug": "put-heavy-activity", "label": "Put-heavy activity", "tone": "negative", "confidence": 78.2, "confidence_label": "78/100", "summary": "Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.", "evidence": [{"label": "Notional split", "value": "C 48% / P 52%", "detail": "Estimated gross traded notional uses volume \u00d7 contract multiplier \u00d7 midpoint, or last price when no valid midpoint is available."}, {"label": "Freshness", "value": "0.05", "detail": "Volume divided by open interest across the visible chain."}, {"label": "Trend fit", "value": "48/100", "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": "Bearish flow against rising price", "tone": "warning", "score": 43.3, "score_label": "43/100", "summary": "Put-side pressure is building while price is rising, a cautionary divergence.", "metrics": [{"label": "Options pressure", "value": "-61"}, {"label": "1W price", "value": "+2.8%"}, {"label": "Call premium", "value": "48%"}, {"label": "Put premium", "value": "52%"}]}, "conviction_clusters": [{"label": "Calls \u00b7 91+ days \u00b7 OTM", "tone": "positive", "volume": 235, "open_interest": 14528, "premium": 143180.0, "premium_label": "$143180", "premium_share": 25.987108085714986, "weighted_strike": 273.36170212765956, "avg_iv": 0.25389640625, "max_voi": 0.90909091, "why": "calls cluster with 235 contracts traded, $143180 estimated gross traded notional, and 26% of visible notional."}, {"label": "Puts \u00b7 22-45 days \u00b7 OTM", "tone": "negative", "volume": 1140, "open_interest": 5315, "premium": 78091.5, "premium_label": "$78092", "premium_share": 14.17357348146118, "weighted_strike": 197.4561403508772, "avg_iv": 0.3743036842105263, "max_voi": 1.96590909, "why": "puts cluster with 1140 contracts traded, $78092 estimated gross traded notional, and 14% of visible notional."}, {"label": "Calls \u00b7 22-45 days \u00b7 OTM", "tone": "positive", "volume": 103, "open_interest": 5781, "premium": 42310.0, "premium_label": "$42310", "premium_share": 7.679246704194727, "weighted_strike": 226.3106796116505, "avg_iv": 0.30950533333333335, "max_voi": 0.08695652, "why": "calls cluster with 103 contracts traded, $42310 estimated gross traded notional, and 8% of visible notional."}, {"label": "Puts \u00b7 0-7 days \u00b7 ATM", "tone": "negative", "volume": 517, "open_interest": 900, "premium": 39887.5, "premium_label": "$39888", "premium_share": 7.239564001738766, "weighted_strike": 214.97582205029013, "avg_iv": 0.38804, "max_voi": 0.95488722, "why": "puts cluster with 517 contracts traded, $39888 estimated gross traded notional, and 7% of visible notional."}, {"label": "Puts \u00b7 91+ days \u00b7 OTM", "tone": "negative", "volume": 88, "open_interest": 9590, "premium": 38520.5, "premium_label": "$38520", "premium_share": 6.991454092860624, "weighted_strike": 171.5340909090909, "avg_iv": 0.35457393442622953, "max_voi": 3.5, "why": "puts cluster with 88 contracts traded, $38520 estimated gross traded notional, and 7% of visible notional."}], "why_this_matters": "Put-heavy activity matters because it connects the options headline to the actual evidence: $550966 of estimated gross traded notional, calls \u00b7 91+ days \u00b7 otm, and a bearish flow against rising 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/92f1f222-1b39-49e5-a9a0-69c61f789a91/", "research_links": {"chart": "/terminal/92f1f222-1b39-49e5-a9a0-69c61f789a91/", "report": "/terminal/92f1f222-1b39-49e5-a9a0-69c61f789a91/report/", "factor": "/factors/ticker/92f1f222-1b39-49e5-a9a0-69c61f789a91/", "insider": "/insider-activity/company/pgr/"}}], "disclaimer": "Educational market research only. Not financial, investment, trading, tax, or legal advice."}