Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
PG options intelligence
Procter & Gamble Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
36
Market data through 31 Jul 2026
Checked 1 Aug 2026 15:05 · complete available chain
Call-side pressure
Bullish pressure
PG currently carries bullish options pressure with a 36/100 conviction score. The nearest-chain expected move is 2.6%, with volume/open-interest participation at 0.06.
Expected move
2.6%
Near-term move context
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.55
Call-side skew
Trend fit
40
Options are not fully confirming trend
Weekly backdrop
-2.0%
RS -10.5
Expected move
2.6%
Put-call volume
0.55
Volume / OI
0.06
Reference IV
0.23
Max pain
148.00
Underlying
144.49
Nearest expiry
7 Aug 2026
Contracts
1016
Research Brief
PG has a bullish chain read with 36/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 140.69–148.29; The largest call open-interest concentration is 155.00; the largest put concentration is 139.00. The most active strike by current volume is 146.00.
Priced range140.69–148.29
Call concentration155.00
Put concentration139.00
Max pain reference148.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 140.69 to 148.29. Max pain at 148.00 sits inside that range, 2.4% above spot.
Spot
Max pain
140.69144.49 ± 3.80148.29
Confirmation level
A close beyond 148.29 or below 140.69 at the 7 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 36/100
Pressure is 33/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure33 × 42%
+13.7
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement40 × 26%
+10.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility27 × 10%
+2.7
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 155.00; the largest put concentration is 139.00. The most active strike by current volume is 146.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
194
135.00-6.6%
0
332
138.00-4.5%
3
867
139.00-3.8%
0
497
140.00-3.1%
10
723
142.00-1.7%
12
235
143.00-1.0%
104
103
144.00-0.3%
49
281
145.000.4%
349
62
146.001.0%
262
173
147.001.7%
134
428
148.002.4%
175
630
149.003.1%
80
155
150.003.8%
407
119
152.505.5%
1154
3
155.007.3%
3777
0
157.509.0%
1297
0
160.0010.7%
753
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.
0.23
7 Aug
7d
0.24
14 Aug
14d
0.23
21 Aug
21d
0.23
28 Aug
28d
0.22
4 Sep
35d
0.21
11 Sep
42d
0.22
18 Sep
49d
0.22
16 Oct
77d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
120
130
131
133
134
136
137
139
140
142
144
145
147
148
150
153
158
160
165
168
173
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1016 / 1016
- 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 are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $4.9M of estimated gross traded notional, calls · 8-21 days · atm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+33
1W price-2.0%
Call premium64%
Put premium36%
Notional split
C 64% / P 36%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
40/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 2 days away.
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 · ATM
calls cluster with 2101 contracts traded, $532514 estimated gross traded notional, and 11% of visible notional.
$532514
Puts · 91+ days · OTM
puts cluster with 1174 contracts traded, $471856 estimated gross traded notional, and 10% of visible notional.
$471856
Calls · 91+ days · ITM
calls cluster with 226 contracts traded, $460260 estimated gross traded notional, and 9% of visible notional.
$460260
Puts · 91+ days · ITM
puts cluster with 399 contracts traded, $404998 estimated gross traded notional, and 8% of visible notional.
$404998
Calls · 91+ days · OTM
calls cluster with 1050 contracts traded, $395870 estimated gross traded notional, and 8% of visible notional.
$395870
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
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
Close144.49
1W-2.0%
RS-10.5
Fair value-5.0%
Options pressure33
Speculation41
Volatility27
Trend fit40
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 14:40
Mixed
Pressure 10
Move 2.5%
29 Jul 14:40
Mixed
Pressure 10
Move 2.5%
29 Jul 15:03
Mixed
Pressure 12
Move 2.5%
29 Jul 15:24
Mixed
Pressure 16
Move 2.4%
29 Jul 15:46
Mixed
Pressure 15
Move 2.4%
29 Jul 16:07
Mixed
Pressure 15
Move 2.4%
29 Jul 16:31
Mixed
Pressure 16
Move 2.4%
29 Jul 16:53
Mixed
Pressure 17
Move 2.3%
Strike Map
Where activity is clustering
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike110.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike115.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 0
Puts · V 0 · OI 18
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts94
Avg IV0.23
Put-call0.51
Expiry14 Aug 2026
Contracts94
Avg IV0.24
Put-call0.30
Expiry21 Aug 2026
Contracts92
Avg IV0.23
Put-call0.73
Expiry28 Aug 2026
Contracts94
Avg IV0.23
Put-call2.67
Expiry4 Sep 2026
Contracts94
Avg IV0.22
Put-call0.10
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.24
Put IV0.21
Skew-0.03
14 Aug 2026Balanced skew
Call IV0.23
Put IV0.23
Skew-
21 Aug 2026Balanced skew
Call IV0.23
Put IV0.23
Skew-
28 Aug 2026Balanced skew
Call IV0.22
Put IV0.20
Skew-0.02
4 Sep 2026Balanced skew
Call IV0.22
Put IV0.23
Skew0.01
Contract Tape
Most active contracts
ContractPG260814C00145000
SideCall
Expiry14 Aug 2026
Strike145.00
Volume1614
OI47
IV0.23
ContractPG260807C00146000
SideCall
Expiry7 Aug 2026
Strike146.00
Volume1501
OI262
IV0.22
ContractPG260904C00155000
SideCall
Expiry4 Sep 2026
Strike155.00
Volume847
OI87
IV0.22
ContractPG260911C00152500
SideCall
Expiry11 Sep 2026
Strike152.50
Volume754
OI3
IV0.26
ContractPG260918C00150000
SideCall
Expiry18 Sep 2026
Strike150.00
Volume669
OI3317
IV0.21
ContractPG260821C00152500
SideCall
Expiry21 Aug 2026
Strike152.50
Volume557
OI498
IV0.23
ContractPG260918P00140000
SidePut
Expiry18 Sep 2026
Strike140.00
Volume547
OI3933
IV0.22
ContractPG260814C00155000
SideCall
Expiry14 Aug 2026
Strike155.00
Volume495
OI284
IV0.14
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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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.