Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
KLAC options intelligence
KLA Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
50
Market data through 31 Jul 2026
Checked 2 Aug 2026 19:37 · partial chain
Volatility expansion watch
Volatility pressure
KLAC currently carries volatility options pressure with a 50/100 conviction score. The nearest-chain expected move is 15.3%, with volume/open-interest participation at 0.03.
Expected move
15.3%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
1.53
Put-side skew
Trend fit
74
Options agree with trend context
Weekly backdrop
-13.2%
RS 13.9
Expected move
15.3%
Put-call volume
1.53
Volume / OI
0.03
Reference IV
0.81
Max pain
218.00
Underlying
182.82
Nearest expiry
21 Aug 2026
Contracts
2000
Research Brief
KLAC has a volatility chain read with 50/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 154.77–210.87; The largest call open-interest concentration is 240.00; the largest put concentration is 122.00. The most active strike by current volume is 185.00.
Priced range154.77–210.87
Call concentration240.00
Put concentration122.00
Max pain reference218.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 154.77 to 210.87. Max pain at 218.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
154.77182.82 ± 28.05210.87
Confirmation level
A close beyond 210.87 or below 154.77 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 50/100
Pressure is 30/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure30 × 42%
+12.5
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement74 × 26%
+19.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 240.00; the largest put concentration is 122.00. The most active strike by current volume is 185.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1877
102.00-44.2%
30
12284
122.00-33.3%
40
2362
170.00-7.0%
118
2107
172.00-5.9%
64
1662
174.00-4.8%
130
1808
180.00-1.5%
175
2151
184.000.6%
26
1099
190.003.9%
612
1672
200.009.4%
1255
4424
218.0019.2%
665
602
220.0020.3%
1045
985
230.0025.8%
769
1832
234.0028.0%
372
603
240.0031.3%
4260
320
250.0036.7%
1433
1007
260.0042.2%
1486
183
270.0047.7%
4110
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.81
21 Aug
21d
0.79
18 Sep
49d
0.82
20 Nov
112d
0.80
18 Dec
140d
0.79
15 Jan
168d
0.79
19 Mar
231d
0.76
17 Jun
321d
0.74
21 Jan
539d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
148
152
155
158
162
165
168
172
175
178
182
185
188
192
195
198
202
206
210
214
218
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
Good
Retained chain89%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 2254
- 89% of provider contracts were retained for this snapshot.
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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $31.5M of estimated gross traded notional, puts · 91+ days · otm, 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.
Options pressure-30
1W price-13.2%
Call premium22%
Put premium78%
Notional split
C 22% / P 78%
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
74/100
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.
Puts · 91+ days · OTM
puts cluster with 3240 contracts traded, $10.2M estimated gross traded notional, and 32% of visible notional.
$10.2M
Puts · 46-90 days · ITM
puts cluster with 1868 contracts traded, $8.7M estimated gross traded notional, and 28% of visible notional.
$8.7M
Calls · 91+ days · OTM
calls cluster with 1517 contracts traded, $3.2M estimated gross traded notional, and 10% of visible notional.
$3.2M
Puts · 8-21 days · ATM
puts cluster with 1132 contracts traded, $1.6M estimated gross traded notional, and 5% of visible notional.
$1.6M
Puts · 91+ days · ITM
puts cluster with 304 contracts traded, $1.5M estimated gross traded notional, and 5% of visible notional.
$1.5M
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
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
Close182.82
1W-13.2%
RS13.9
Fair value+92.7%
Options pressure-30
Speculation41
Volatility96
Trend fit74
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 14:45
Volatility
Pressure -40
Move 20.1%
29 Jul 15:12
Volatility
Pressure -38
Move 20.8%
29 Jul 15:32
Volatility
Pressure -26
Move 19.4%
29 Jul 15:55
Volatility
Pressure -26
Move 19.8%
29 Jul 16:15
Volatility
Pressure -26
Move 20.8%
29 Jul 16:43
Volatility
Pressure -25
Move 20.8%
29 Jul 17:01
Volatility
Pressure -25
Move 21.1%
29 Jul 17:27
Volatility
Pressure -24
Move 20.9%
Strike Map
Where activity is clustering
Strike102.00
Calls · V 0 · OI 30
Puts · V 361 · OI 1877
Strike104.00
Calls · V 0 · OI 20
Puts · V 0 · OI 66
Strike106.00
Calls · V 0 · OI 50
Puts · V 0 · OI 149
Strike108.00
Calls · V 0 · OI 20
Puts · V 1 · OI 121
Strike110.00
Calls · V 0 · OI 30
Puts · V 153 · OI 368
Strike112.00
Calls · V 0 · OI 0
Puts · V 0 · OI 32
Strike114.00
Calls · V 0 · OI 0
Puts · V 12 · OI 401
Strike116.00
Calls · V 0 · OI 10
Puts · V 0 · OI 82
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts204
Avg IV0.81
Put-call1.11
Expiry18 Sep 2026
Contracts332
Avg IV0.79
Put-call1.67
Expiry20 Nov 2026
Contracts216
Avg IV0.82
Put-call0.82
Expiry18 Dec 2026
Contracts348
Avg IV0.80
Put-call1.10
Expiry15 Jan 2027
Contracts330
Avg IV0.79
Put-call1.41
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.81
Put IV0.81
Skew-
18 Sep 2026Put IV premium
Call IV0.76
Put IV0.81
Skew0.06
20 Nov 2026Balanced skew
Call IV0.80
Put IV0.81
Skew0.02
18 Dec 2026Balanced skew
Call IV0.78
Put IV0.81
Skew0.03
15 Jan 2027Balanced skew
Call IV0.78
Put IV0.81
Skew0.03
Contract Tape
Most active contracts
ContractKLAC260918P00224000
SidePut
Expiry18 Sep 2026
Strike224.00
Volume1800
OI17042
IV0.73
ContractKLAC270617P00174000
SidePut
Expiry17 Jun 2027
Strike174.00
Volume1018
OI1047
IV0.79
ContractKLAC260821P00185000
SidePut
Expiry21 Aug 2026
Strike185.00
Volume839
OI796
IV0.78
ContractKLAC260918C00210000
SideCall
Expiry18 Sep 2026
Strike210.00
Volume507
OI775
IV0.80
ContractKLAC280121P00170000
SidePut
Expiry21 Jan 2028
Strike170.00
Volume480
OI179
IV0.74
ContractKLAC260821C00200000
SideCall
Expiry21 Aug 2026
Strike200.00
Volume459
OI1255
IV0.80
ContractKLAC260821C00220000
SideCall
Expiry21 Aug 2026
Strike220.00
Volume414
OI1045
IV0.81
ContractKLAC260821P00176000
SidePut
Expiry21 Aug 2026
Strike176.00
Volume410
OI716
IV0.81
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
KLA Corporation (KLAC) gives back 5.3% after a 22.1% four-week run10 Jul 2026 04:54
KLA Corporation (KLAC) weekly pullback tests semiconductor-equipment rebound7 Jul 2026 01:09
KLA Corporation (KLAC) slips while momentum measures stay constructive2 Jul 2026 22:54
KLA Corporation (KLAC) runs into a 4.2% weekly setback after 64.1% surge1 Jul 2026 18:24
KLA Corporation (KLAC) insider filing lands after sharp chip-equipment advance29 Jun 2026 13:09
KLA Corporation (KLAC) heavy turnover backs weekly strength25 Jun 2026 18:00
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.