Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
KSS options intelligence
Kohl's Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 31 Jul 2026
Checked 2 Aug 2026 12:50 · complete available chain
Call-side pressure
Bullish pressure
KSS currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 6.4%, with volume/open-interest participation at 0.05.
Expected move
6.4%
Wider near-term move priced
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.28
Call-side skew
Trend fit
13
Options are not fully confirming trend
Weekly backdrop
+6.7%
RS 7.0
Expected move
6.4%
Put-call volume
0.28
Volume / OI
0.05
Reference IV
0.57
Max pain
18.00
Underlying
19.14
Nearest expiry
7 Aug 2026
Contracts
682
Research Brief
KSS has a bullish chain read with 42/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 17.91–20.37; The largest call open-interest concentration is 19.00; the largest put concentration is 19.00. The most active strike by current volume is 35.00.
Priced range17.91–20.37
Call concentration19.00
Put concentration19.00
Max pain reference18.00
- 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 17.91 to 20.37. Max pain at 18.00 sits inside that range, 6.0% below spot.
Spot
Max pain
17.9119.14 ± 1.2320.37
Confirmation level
A close beyond 20.37 or below 17.91 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 42/100
Pressure is 56/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure56 × 42%
+23.4
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement13 × 26%
+3.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility66 × 10%
+6.6
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 19.00; the largest put concentration is 19.00. The most active strike by current volume is 35.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
109
16.00-16.4%
8
78
17.00-11.2%
252
28
17.50-8.6%
28
58
18.00-6.0%
247
161
18.50-3.3%
176
233
19.00-0.7%
369
1
19.501.9%
59
0
20.004.5%
110
0
20.507.1%
104
1
21.009.7%
355
0
21.5012.3%
26
1
22.0014.9%
75
1
22.5017.6%
60
4
23.0020.2%
35
4
25.0030.6%
68
48
26.0035.8%
3
1
35.0082.9%
224
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.57
7 Aug
7d
0.57
14 Aug
14d
0.56
21 Aug
21d
0.77
28 Aug
28d
0.73
4 Sep
35d
0.71
11 Sep
42d
0.69
18 Sep
49d
0.66
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
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
- 682 / 682
- 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: $726433 of estimated gross traded notional, calls · 91+ 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+56
1W price+6.7%
Call premium91%
Put premium9%
Notional split
C 91% / P 9%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
13/100
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 · 91+ days · OTM
calls cluster with 831 contracts traded, $231506 estimated gross traded notional, and 32% of visible notional.
$231506
Calls · 91+ days · ITM
calls cluster with 280 contracts traded, $188200 estimated gross traded notional, and 26% of visible notional.
$188200
Calls · 8-21 days · ITM
calls cluster with 269 contracts traded, $60755 estimated gross traded notional, and 8% of visible notional.
$60755
Calls · 0-7 days · ATM
calls cluster with 808 contracts traded, $47360 estimated gross traded notional, and 7% of visible notional.
$47360
Calls · 0-7 days · ITM
calls cluster with 240 contracts traded, $36246 estimated gross traded notional, and 5% of visible notional.
$36246
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
Close19.14
1W+6.7%
RS7.0
Fair value+16.0%
Options pressure56
Speculation41
Volatility66
Trend fit13
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 11:05
Bullish
Pressure 55
Move 8.2%
30 Jul 10:53
Bullish
Pressure 46
Move 7.0%
31 Jul 10:35
Bullish
Pressure 22
Move 8.7%
2 Aug 11:50
Bullish
Pressure 56
Move 6.4%
Strike Map
Where activity is clustering
Strike8.00
Calls · V 1 · OI 1
Puts · V 0 · OI 1
Strike9.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Strike10.00
Calls · V 4 · OI 5
Puts · V 0 · OI 3
Strike11.00
Calls · V 0 · OI 10
Puts · V 0 · OI 39
Strike11.50
Calls · V 0 · OI 1
Puts · V 0 · OI 32
Strike12.00
Calls · V 0 · OI 7
Puts · V 0 · OI 6
Strike12.50
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike13.00
Calls · V 0 · OI 5
Puts · V 0 · OI 30
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts104
Avg IV0.57
Put-call0.16
Expiry14 Aug 2026
Contracts68
Avg IV0.57
Put-call0.03
Expiry21 Aug 2026
Contracts70
Avg IV0.56
Put-call2.75
Expiry28 Aug 2026
Contracts38
Avg IV0.77
Put-call0.11
Expiry4 Sep 2026
Contracts38
Avg IV0.73
Put-call3.00
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV0.54
Put IV0.71
Skew0.17
14 Aug 2026Call IV premium
Call IV0.67
Put IV0.58
Skew-0.09
21 Aug 2026Balanced skew
Call IV0.61
Put IV0.59
Skew-0.02
28 Aug 2026Balanced skew
Call IV0.81
Put IV0.79
Skew-0.03
4 Sep 2026Balanced skew
Call IV0.77
Put IV0.75
Skew-0.02
Contract Tape
Most active contracts
ContractKSS260807C00035000
SideCall
Expiry7 Aug 2026
Strike35.00
Volume777
OI224
IV1.70
ContractKSS261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume640
OI2152
IV0.66
ContractKSS260821P00015000
SidePut
Expiry21 Aug 2026
Strike15.00
Volume481
OI3756
IV0.68
ContractKSS260807C00019000
SideCall
Expiry7 Aug 2026
Strike19.00
Volume470
OI369
IV0.61
ContractKSS260814C00020500
SideCall
Expiry14 Aug 2026
Strike20.50
Volume373
OI42
IV0.61
ContractKSS260807C00019500
SideCall
Expiry7 Aug 2026
Strike19.50
Volume338
OI59
IV0.52
ContractKSS260807C00023000
SideCall
Expiry7 Aug 2026
Strike23.00
Volume253
OI35
IV0.61
ContractKSS260807C00018000
SideCall
Expiry7 Aug 2026
Strike18.00
Volume213
OI247
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
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.