Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
WHD options intelligence
Cactus Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
54
Market data through 31 Jul 2026
Checked 1 Aug 2026 17:11 · complete available chain
Call-side pressure
Bullish pressure
WHD currently carries bullish options pressure with a 54/100 conviction score. The nearest-chain expected move is 6.9%, with volume/open-interest participation at 0.54.
Expected move
6.9%
Wider near-term move priced
Activity / OI
0.54
Current volume is elevated versus prior open interest
Put-call
0.01
Call-side skew
Trend fit
1
Options are not fully confirming trend
Weekly backdrop
+17.9%
RS 23.0
Expected move
6.9%
Put-call volume
0.01
Volume / OI
0.54
Reference IV
0.37
Max pain
55.00
Underlying
65.01
Nearest expiry
21 Aug 2026
Contracts
100
Research Brief
WHD has a bullish chain read with 54/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 60.53–69.49; The largest call open-interest concentration is 70.00; the largest put concentration is 35.00. The most active strike by current volume is 70.00.
Priced range60.53–69.49
Call concentration70.00
Put concentration35.00
Max pain reference55.00
- 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 60.53 to 69.49. Max pain at 55.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
60.5365.01 ± 4.4869.49
Confirmation level
A close beyond 69.49 or below 60.53 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 54/100
Pressure is 100/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure100 × 42%
+42.0
How strongly activity leans toward calls or puts.
Participation29 × 22%
+6.3
Volume relative to existing open interest and contract-level activity.
Trend agreement1 × 26%
+0.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility53 × 10%
+5.3
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 70.00; the largest put concentration is 35.00. The most active strike by current volume is 70.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
4
22.50-65.4%
0
0
25.00-61.5%
0
2
30.00-53.9%
1
122
35.00-46.2%
1
26
40.00-38.5%
3
50
45.00-30.8%
1
72
50.00-23.1%
32
37
55.00-15.4%
200
68
60.00-7.7%
952
1
65.000.0%
58
0
70.007.7%
1038
0
75.0015.4%
6
0
80.0023.1%
12
0
85.0030.7%
0
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.
0.37
21 Aug
21d
0.35
18 Sep
49d
0.37
20 Nov
112d
0.37
19 Feb
203d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
55
60
65
70
75
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
- 100 / 100
- 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: $129268 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+100
1W price+17.9%
Call premium99%
Put premium1%
Notional split
C 99% / P 1%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.54
Volume divided by open interest across the visible chain.
Trend fit
1/100
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 1839 contracts traded, $100740 estimated gross traded notional, and 78% of visible notional.
$100740
Calls · 91+ days · OTM
calls cluster with 42 contracts traded, $9295 estimated gross traded notional, and 7% of visible notional.
$9295
Calls · 8-21 days · ATM
calls cluster with 40 contracts traded, $9200 estimated gross traded notional, and 7% of visible notional.
$9200
Calls · 91+ days · ATM
calls cluster with 7 contracts traded, $3990 estimated gross traded notional, and 3% of visible notional.
$3990
Calls · 8-21 days · ITM
calls cluster with 4 contracts traded, $2765 estimated gross traded notional, and 2% of visible notional.
$2765
Setup Classification
Opportunity and risk frame
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
Close65.01
1W+17.9%
RS23.0
Fair value+31.2%
Options pressure100
Speculation29
Volatility53
Trend fit1
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 10:44
Bullish
Pressure 100
Move 9.0%
30 Jul 10:40
Bearish
Pressure -23
Move 9.9%
30 Jul 18:41
Bullish
Pressure 71
Move 13.2%
31 Jul 12:32
Bullish
Pressure 49
Move 14.2%
31 Jul 22:32
Volatility
Pressure 100
Move 19.0%
1 Aug 11:42
Bullish
Pressure 100
Move 19.0%
1 Aug 16:11
Bullish
Pressure 100
Move 6.9%
Strike Map
Where activity is clustering
Strike22.50
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 1
Puts · V 0 · OI 2
Strike35.00
Calls · V 0 · OI 1
Puts · V 0 · OI 122
Strike40.00
Calls · V 0 · OI 3
Puts · V 0 · OI 26
Strike45.00
Calls · V 0 · OI 1
Puts · V 0 · OI 50
Strike50.00
Calls · V 0 · OI 32
Puts · V 0 · OI 72
Strike55.00
Calls · V 1 · OI 200
Puts · V 6 · OI 37
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts28
Avg IV0.37
Put-call0.00
Expiry18 Sep 2026
Contracts22
Avg IV0.35
Put-call0.14
Expiry20 Nov 2026
Contracts26
Avg IV0.37
Put-call-
Expiry19 Feb 2027
Contracts24
Avg IV0.37
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.34
Put IV0.40
Skew0.06
18 Sep 2026Put IV premium
Call IV0.33
Put IV0.39
Skew0.06
20 Nov 2026Balanced skew
Call IV0.35
Put IV0.39
Skew0.04
19 Feb 2027Balanced skew
Call IV0.35
Put IV0.40
Skew0.05
Contract Tape
Most active contracts
ContractWHD260821C00070000
SideCall
Expiry21 Aug 2026
Strike70.00
Volume1830
OI1038
IV0.34
ContractWHD260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume40
OI58
IV0.36
ContractWHD261120C00075000
SideCall
Expiry20 Nov 2026
Strike75.00
Volume38
OI148
IV0.35
ContractWHD260821C00075000
SideCall
Expiry21 Aug 2026
Strike75.00
Volume9
OI6
IV0.24
ContractWHD261120C00065000
SideCall
Expiry20 Nov 2026
Strike65.00
Volume7
OI37
IV0.38
ContractWHD260821P00055000
SidePut
Expiry21 Aug 2026
Strike55.00
Volume6
OI37
IV0.49
ContractWHD260918C00065000
SideCall
Expiry18 Sep 2026
Strike65.00
Volume5
OI28
IV0.35
ContractWHD260821C00060000
SideCall
Expiry21 Aug 2026
Strike60.00
Volume3
OI952
IV0.41
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.