Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SKYW options intelligence
SkyWest Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
55
Market data through 31 Jul 2026
Checked 1 Aug 2026 00:34 · complete available chain
Call-side pressure
Bullish pressure
SKYW currently carries bullish options pressure with a 55/100 conviction score. The nearest-chain expected move is 8.3%, with volume/open-interest participation at 1.06.
Expected move
8.3%
Wider near-term move priced
Activity / OI
1.06
Current volume is elevated versus prior open interest
Put-call
0.11
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+3.2%
RS -1.8
Expected move
8.3%
Put-call volume
0.11
Volume / OI
1.06
Reference IV
0.55
Max pain
97.50
Underlying
103.65
Nearest expiry
21 Aug 2026
Contracts
96
Research Brief
SKYW has a bullish chain read with 55/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 95.07–112.23; The largest call open-interest concentration is 105.00; the largest put concentration is 87.50. The most active strike by current volume is 110.00.
Priced range95.07–112.23
Call concentration105.00
Put concentration87.50
Max pain reference97.50
- 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 95.07 to 112.23. Max pain at 97.50 sits inside that range, 5.9% below spot.
Spot
Max pain
95.07103.65 ± 8.58112.23
Confirmation level
A close beyond 112.23 or below 95.07 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 55/100
Pressure is 81/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure81 × 42%
+33.9
How strongly activity leans toward calls or puts.
Participation65 × 22%
+14.2
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility72 × 10%
+7.2
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 105.00; the largest put concentration is 87.50. The most active strike by current volume is 110.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
60.00-42.1%
1
0
70.00-32.5%
1
9
80.00-22.8%
0
6
85.00-18.0%
0
174
87.50-15.6%
1
5
90.00-13.2%
3
3
92.50-10.8%
3
14
95.00-8.3%
7
41
97.50-5.9%
53
11
100.00-3.5%
24
14
105.001.3%
172
0
110.006.1%
65
0
115.0011.0%
66
0
120.0015.8%
9
0
125.0020.6%
2
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.
0.55
21 Aug
21d
0.50
18 Sep
49d
0.46
16 Oct
77d
0.38
15 Jan
168d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
85
88
90
93
95
98
100
105
110
115
120
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
- 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
- 96 / 96
- 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: $409304 of estimated gross traded notional, calls · 8-21 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+81
1W price+3.2%
Call premium94%
Put premium6%
Notional split
C 94% / P 6%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
1.06
Volume divided by open interest across the visible chain.
Trend fit
0/100
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 · 8-21 days · OTM
calls cluster with 1037 contracts traded, $262265 estimated gross traded notional, and 64% of visible notional.
$262265
Calls · 46-90 days · ITM
calls cluster with 35 contracts traded, $53258 estimated gross traded notional, and 13% of visible notional.
$53258
Calls · 8-21 days · ITM
calls cluster with 16 contracts traded, $26660 estimated gross traded notional, and 7% of visible notional.
$26660
Calls · 91+ days · ITM
calls cluster with 5 contracts traded, $17886 estimated gross traded notional, and 4% of visible notional.
$17886
Calls · 46-90 days · OTM
calls cluster with 38 contracts traded, $14070 estimated gross traded notional, and 3% of visible notional.
$14070
Setup Classification
Opportunity and risk frame
Participation is active enough to treat follow-through risk carefully.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close106.97
1W+3.2%
RS-1.8
Fair value+25.4%
Options pressure81
Speculation65
Volatility72
Trend fit0
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 10:52
Bearish
Pressure -36
Move 11.2%
30 Jul 06:49
Bearish
Pressure -65
Move 9.0%
31 Jul 11:11
Bullish
Pressure 73
Move 7.5%
31 Jul 19:01
Mixed
Pressure 0
Move 7.6%
31 Jul 23:34
Bullish
Pressure 81
Move 8.3%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike70.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 5 · OI 9
Strike85.00
Calls · V 0 · OI 0
Puts · V 6 · OI 6
Strike87.50
Calls · V 0 · OI 1
Puts · V 1 · OI 174
Strike90.00
Calls · V 2 · OI 3
Puts · V 1 · OI 5
Strike92.50
Calls · V 1 · OI 3
Puts · V 1 · OI 3
Strike95.00
Calls · V 8 · OI 7
Puts · V 2 · OI 14
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts22
Avg IV0.55
Put-call0.02
Expiry18 Sep 2026
Contracts7
Avg IV0.50
Put-call0.33
Expiry16 Oct 2026
Contracts40
Avg IV0.46
Put-call1.37
Expiry15 Jan 2027
Contracts27
Avg IV0.38
Put-call1.29
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.44
Put IV0.50
Skew0.06
18 Sep 2026Balanced skew
Call IV0.44
Put IV0.42
Skew-0.01
16 Oct 2026Balanced skew
Call IV0.47
Put IV0.45
Skew-0.02
15 Jan 2027Call IV premium
Call IV0.47
Put IV0.41
Skew-0.06
Contract Tape
Most active contracts
ContractSKYW260821C00125000
SideCall
Expiry21 Aug 2026
Strike125.00
Volume-
OI2
IV0.60
ContractSKYW270115P00082500
SidePut
Expiry15 Jan 2027
Strike82.50
Volume-
OI2
IV0.49
ContractSKYW270115P00110000
SidePut
Expiry15 Jan 2027
Strike110.00
Volume-
OI1
IV0.39
ContractSKYW261016C00140000
SideCall
Expiry16 Oct 2026
Strike140.00
Volume-
OI1
IV0.52
ContractSKYW261016C00135000
SideCall
Expiry16 Oct 2026
Strike135.00
Volume-
OI1
IV0.44
ContractSKYW260918P00097500
SidePut
Expiry18 Sep 2026
Strike97.50
Volume-
OI1
IV0.42
ContractSKYW261016C00050000
SideCall
Expiry16 Oct 2026
Strike50.00
Volume-
OI1
IV0.00
ContractSKYW261016P00095000
SidePut
Expiry16 Oct 2026
Strike95.00
Volume-
OI1
IV1.06
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
Earnings
No upcoming matched earnings event.
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.