Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SPB options intelligence
Spectrum Brands Holdings Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
50
Market data through 31 Jul 2026
Checked 1 Aug 2026 11:00 · complete available chain
Volatility expansion watch
Volatility pressure
SPB currently carries volatility options pressure with a 50/100 conviction score. The nearest-chain expected move is 10.5%, with volume/open-interest participation at 0.00.
Expected move
10.5%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
10
Options are not fully confirming trend
Weekly backdrop
-0.0%
RS 20.1
Expected move
10.5%
Put-call volume
-
Volume / OI
0.00
Reference IV
0.57
Max pain
75.00
Underlying
88.81
Nearest expiry
21 Aug 2026
Contracts
186
Research Brief
SPB 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 79.46–98.16; The largest call open-interest concentration is 95.00; the largest put concentration is 75.00. The most active strike by current volume is 85.00.
Priced range79.46–98.16
Call concentration95.00
Put concentration75.00
Max pain reference75.00
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- 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 79.46 to 98.16. Max pain at 75.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
79.4688.81 ± 9.3598.16
Confirmation level
A close beyond 98.16 or below 79.46 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 89/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure89 × 42%
+37.4
How strongly activity leans toward calls or puts.
Participation8 × 22%
+1.8
Volume relative to existing open interest and contract-level activity.
Trend agreement10 × 26%
+2.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility80 × 10%
+8.0
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 95.00; the largest put concentration is 75.00. The most active strike by current volume is 85.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
45.00-49.3%
0
0
50.00-43.7%
0
0
55.00-38.1%
0
0
60.00-32.4%
0
0
65.00-26.8%
0
0
70.00-21.2%
2
9
75.00-15.6%
2
0
80.00-9.9%
2
1
85.00-4.3%
1
0
90.001.3%
6
0
95.007.0%
26
0
100.0012.6%
1
0
105.0018.2%
0
0
110.0023.9%
1
0
115.0029.5%
0
0
120.0035.1%
0
0
125.0040.7%
0
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.
0.57
21 Aug
21d
0.48
18 Sep
49d
0.44
16 Oct
77d
0.45
18 Dec
140d
0.43
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.
75
80
85
90
95
100
105
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
- 186 / 186
- 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.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $325 of estimated gross traded notional, puts · 8-21 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-89
1W price-0.0%
Call premium0%
Put premium100%
Notional split
C 0% / P 100%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
10/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 4 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 · 8-21 days · OTM
puts cluster with 1 contracts traded, $325 estimated gross traded notional, and 100% of visible notional.
$325
Setup Classification
Opportunity and risk frame
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.
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
Close88.77
1W-0.0%
RS20.1
Fair value+21.9%
Options pressure-89
Speculation8
Volatility80
Trend fit10
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 11:03
Volatility
Pressure 83
Move 12.3%
30 Jul 10:52
Volatility
Pressure 90
Move 10.8%
31 Jul 13:33
Volatility
Pressure -84
Move 10.0%
31 Jul 13:56
Mixed
Pressure 16
Move 11.1%
1 Aug 10:00
Volatility
Pressure -89
Move 10.5%
Strike Map
Where activity is clustering
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 2
Puts · V 0 · OI 9
Strike80.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts34
Avg IV0.57
Put-call-
Expiry18 Sep 2026
Contracts36
Avg IV0.48
Put-call-
Expiry16 Oct 2026
Contracts38
Avg IV0.44
Put-call-
Expiry18 Dec 2026
Contracts40
Avg IV0.45
Put-call-
Expiry15 Jan 2027
Contracts38
Avg IV0.43
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.52
Put IV0.62
Skew0.10
18 Sep 2026Put IV premium
Call IV0.46
Put IV0.56
Skew0.10
16 Oct 2026Put IV premium
Call IV0.40
Put IV0.49
Skew0.10
18 Dec 2026Put IV premium
Call IV0.41
Put IV0.46
Skew0.06
15 Jan 2027Put IV premium
Call IV0.38
Put IV0.45
Skew0.08
Contract Tape
Most active contracts
ContractSPB260821P00085000
SidePut
Expiry21 Aug 2026
Strike85.00
Volume1
OI1
IV0.60
ContractSPB261016C00090000
SideCall
Expiry16 Oct 2026
Strike90.00
Volume-
OI1354
IV0.41
ContractSPB260918C00085000
SideCall
Expiry18 Sep 2026
Strike85.00
Volume-
OI436
IV0.45
ContractSPB261016P00075000
SidePut
Expiry16 Oct 2026
Strike75.00
Volume-
OI134
IV0.52
ContractSPB261218C00105000
SideCall
Expiry18 Dec 2026
Strike105.00
Volume-
OI101
IV0.41
ContractSPB261218C00070000
SideCall
Expiry18 Dec 2026
Strike70.00
Volume-
OI33
IV0.45
ContractSPB260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume-
OI26
IV0.52
ContractSPB261218C00055000
SideCall
Expiry18 Dec 2026
Strike55.00
Volume-
OI24
IV0.48
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
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.