Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
PPG options intelligence
PPG Industries Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
44
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:05 · complete available chain
Options-market disagreement
Mixed pressure
PPG currently carries mixed options pressure with a 44/100 conviction score. The nearest-chain expected move is 4.2%, with volume/open-interest participation at 0.03.
Expected move
4.2%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.85
Balanced tape
Trend fit
86
Options agree with trend context
Weekly backdrop
-4.7%
RS -6.3
Expected move
4.2%
Put-call volume
0.85
Volume / OI
0.03
Reference IV
0.56
Max pain
111.00
Underlying
116.00
Nearest expiry
31 Jul 2026
Contracts
1126
Research Brief
PPG has a mixed chain read with 44/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 111.15–120.85; The largest call open-interest concentration is 131.00; the largest put concentration is 118.00. The most active strike by current volume is 118.00.
Priced range111.15–120.85
Call concentration131.00
Put concentration118.00
Max pain reference111.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 111.15 to 120.85. Max pain at 111.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
111.15116.00 ± 4.85120.85
Confirmation level
A close beyond 120.85 or below 111.15 at the 31 Jul 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 44/100
Pressure is 17/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure17 × 42%
+7.3
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement86 × 26%
+22.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility56 × 10%
+5.6
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 131.00; the largest put concentration is 118.00. The most active strike by current volume is 118.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
70.00-39.7%
50
0
75.00-35.3%
50
0
94.00-19.0%
54
1
95.00-18.1%
54
0
96.00-17.2%
88
1
97.00-16.4%
88
45
112.00-3.4%
1
48
114.00-1.7%
30
57
115.00-0.9%
8
53
116.000.0%
17
3
117.000.9%
26
200
118.001.7%
35
19
120.003.4%
38
52
122.005.2%
71
2
124.006.9%
43
0
128.0010.3%
122
0
131.0012.9%
330
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.
0.56
31 Jul
1d
0.32
7 Aug
8d
0.31
14 Aug
15d
0.31
21 Aug
22d
0.30
28 Aug
29d
0.31
4 Sep
36d
0.31
11 Sep
43d
0.32
18 Sep
50d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
93
95
98
100
102
105
107
109
111
114
116
118
121
123
125
127
130
132
134
137
139
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 1126 / 1126
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $347104 of estimated gross traded notional, puts · 0-7 days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+17
1W price-4.7%
Call premium39%
Put premium61%
Notional split
C 39% / P 61%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
86/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 0-7 days · ITM
puts cluster with 44 contracts traded, $121295 estimated gross traded notional, and 35% of visible notional.
$121295
Calls · 0-7 days · ITM
calls cluster with 113 contracts traded, $98400 estimated gross traded notional, and 28% of visible notional.
$98400
Puts · 0-7 days · ATM
puts cluster with 101 contracts traded, $62250 estimated gross traded notional, and 18% of visible notional.
$62250
Puts · 91+ days · OTM
puts cluster with 29 contracts traded, $17725 estimated gross traded notional, and 5% of visible notional.
$17725
Calls · 91+ days · OTM
calls cluster with 48 contracts traded, $14430 estimated gross traded notional, and 4% of visible notional.
$14430
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close110.52
1W-4.7%
RS-6.3
Fair value-5.2%
Options pressure17
Speculation41
Volatility56
Trend fit86
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:15
Bullish
Pressure 61
Move 5.0%
30 Jul 10:11
Bullish
Pressure 21
Move 4.1%
31 Jul 10:05
Mixed
Pressure 17
Move 4.2%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 1
Puts · V 0 · OI 1
Strike65.00
Calls · V 0 · OI 23
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 50
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 50
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 19
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 12
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 24
Puts · V 0 · OI 0
Strike93.00
Calls · V 0 · OI 12
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts120
Avg IV0.56
Put-call3.22
Expiry7 Aug 2026
Contracts102
Avg IV0.32
Put-call0.11
Expiry14 Aug 2026
Contracts110
Avg IV0.31
Put-call1.80
Expiry21 Aug 2026
Contracts104
Avg IV0.31
Put-call0.38
Expiry28 Aug 2026
Contracts92
Avg IV0.30
Put-call1.33
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.31
Put IV0.60
Skew0.29
7 Aug 2026Balanced skew
Call IV0.35
Put IV0.37
Skew0.02
14 Aug 2026Balanced skew
Call IV0.28
Put IV0.32
Skew0.04
21 Aug 2026Put IV premium
Call IV0.30
Put IV0.37
Skew0.07
28 Aug 2026Put IV premium
Call IV0.24
Put IV0.34
Skew0.10
Contract Tape
Most active contracts
ContractPPG260731P00118000
SidePut
Expiry31 Jul 2026
Strike118.00
Volume100
OI200
IV0.80
ContractPPG260807C00104000
SideCall
Expiry7 Aug 2026
Strike104.00
Volume52
OI-
IV0.36
ContractPPG260807C00103000
SideCall
Expiry7 Aug 2026
Strike103.00
Volume52
OI-
IV0.33
ContractPPG260807C00115000
SideCall
Expiry7 Aug 2026
Strike115.00
Volume27
OI-
IV0.33
ContractPPG260904P00105000
SidePut
Expiry4 Sep 2026
Strike105.00
Volume25
OI-
IV0.34
ContractPPG260731C00117000
SideCall
Expiry31 Jul 2026
Strike117.00
Volume22
OI26
IV0.38
ContractPPG260731P00107000
SidePut
Expiry31 Jul 2026
Strike107.00
Volume20
OI2
IV0.40
ContractPPG261218C00130000
SideCall
Expiry18 Dec 2026
Strike130.00
Volume16
OI1099
IV0.30
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.