Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SHAK options intelligence
Shake Shack Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
61
Market data through 31 Jul 2026
Checked 1 Aug 2026 15:02 · complete available chain
Volatility expansion watch
Volatility pressure
SHAK currently carries volatility options pressure with a 61/100 conviction score. The nearest-chain expected move is 12.3%, with volume/open-interest participation at 0.02.
Expected move
12.3%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
2.19
Put-side skew
Trend fit
95
Options agree with trend context
Weekly backdrop
+9.9%
RS -32.8
Expected move
12.3%
Put-call volume
2.19
Volume / OI
0.02
Reference IV
1.14
Max pain
60.00
Underlying
62.75
Nearest expiry
7 Aug 2026
Contracts
890
Research Brief
SHAK has a volatility chain read with 61/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 55.05–70.45; The largest call open-interest concentration is 60.00; the largest put concentration is 49.00. The most active strike by current volume is 64.00.
Priced range55.05–70.45
Call concentration60.00
Put concentration49.00
Max pain reference60.00
- 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.
- 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 55.05 to 70.45. Max pain at 60.00 sits inside that range, 4.4% below spot.
Spot
Max pain
55.0562.75 ± 7.7070.45
Confirmation level
A close beyond 70.45 or below 55.05 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 61/100
Pressure is 43/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure43 × 42%
+17.9
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement95 × 26%
+24.6
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 60.00; the largest put concentration is 49.00. The most active strike by current volume is 64.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
328
49.00-21.9%
0
87
50.00-20.3%
0
34
55.00-12.4%
0
61
57.00-9.2%
10
58
58.00-7.6%
20
12
60.00-4.4%
270
12
61.00-2.8%
61
20
63.000.4%
42
0
64.002.0%
28
12
65.003.6%
253
0
66.005.2%
81
4
67.006.8%
226
0
68.008.4%
86
0
69.0010.0%
64
0
70.0011.6%
136
0
71.0013.1%
41
0
73.0016.3%
60
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.
1.14
7 Aug
7d
0.86
14 Aug
14d
0.76
21 Aug
21d
0.72
28 Aug
28d
0.67
4 Sep
35d
0.62
11 Sep
42d
0.63
18 Sep
49d
0.63
20 Nov
112d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
51
52
53
55
56
57
58
59
61
62
63
64
65
67
68
69
70
71
73
74
75
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
- 890 / 890
- 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: $211081 of estimated gross traded notional, puts · 22-45 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-43
1W price+9.9%
Call premium57%
Put premium43%
Notional split
C 57% / P 43%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
95/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 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 · 22-45 days · OTM
puts cluster with 647 contracts traded, $48182 estimated gross traded notional, and 23% of visible notional.
$48182
Calls · 0-7 days · OTM
calls cluster with 179 contracts traded, $28123 estimated gross traded notional, and 13% of visible notional.
$28123
Calls · 0-7 days · ATM
calls cluster with 71 contracts traded, $25145 estimated gross traded notional, and 12% of visible notional.
$25145
Calls · 91+ days · OTM
calls cluster with 43 contracts traded, $17977 estimated gross traded notional, and 9% of visible notional.
$17977
Calls · 46-90 days · OTM
calls cluster with 66 contracts traded, $17246 estimated gross traded notional, and 8% of visible notional.
$17246
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
Close62.75
1W+9.9%
RS-32.8
Fair value-32.6%
Options pressure-43
Speculation41
Volatility96
Trend fit95
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 10:56
Bullish
Pressure 44
Move 10.8%
30 Jul 10:46
Mixed
Pressure 10
Move 4.9%
31 Jul 13:05
Mixed
Pressure -15
Move 3.3%
31 Jul 16:33
Bullish
Pressure 26
Move 11.1%
31 Jul 16:55
Bullish
Pressure 26
Move 11.1%
31 Jul 23:32
Bullish
Pressure 27
Move 10.2%
1 Aug 00:32
Mixed
Pressure 10
Move 2.6%
1 Aug 14:02
Volatility
Pressure -43
Move 12.3%
Strike Map
Where activity is clustering
Strike35.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike41.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike42.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike42.50
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike43.00
Calls · V 0 · OI 0
Puts · V 0 · OI 9
Strike43.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike44.00
Calls · V 0 · OI 0
Puts · V 0 · OI 36
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts108
Avg IV1.14
Put-call0.44
Expiry14 Aug 2026
Contracts108
Avg IV0.86
Put-call0.64
Expiry21 Aug 2026
Contracts68
Avg IV0.76
Put-call6.08
Expiry28 Aug 2026
Contracts76
Avg IV0.72
Put-call-
Expiry4 Sep 2026
Contracts70
Avg IV0.67
Put-call304.00
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV1.02
Put IV1.36
Skew0.34
14 Aug 2026Put IV premium
Call IV0.93
Put IV1.06
Skew0.13
21 Aug 2026Balanced skew
Call IV0.77
Put IV0.78
Skew0.01
28 Aug 2026Balanced skew
Call IV0.74
Put IV0.73
Skew-0.01
4 Sep 2026Put IV premium
Call IV0.62
Put IV0.70
Skew0.08
Contract Tape
Most active contracts
ContractSHAK260904P00049000
SidePut
Expiry4 Sep 2026
Strike49.00
Volume600
OI1
IV0.68
ContractSHAK260807C00064000
SideCall
Expiry7 Aug 2026
Strike64.00
Volume50
OI28
IV1.15
ContractSHAK260807C00070000
SideCall
Expiry7 Aug 2026
Strike70.00
Volume48
OI136
IV1.02
ContractSHAK260807C00071000
SideCall
Expiry7 Aug 2026
Strike71.00
Volume37
OI41
IV1.11
ContractSHAK260807P00055000
SidePut
Expiry7 Aug 2026
Strike55.00
Volume36
OI34
IV1.10
ContractSHAK260807P00050000
SidePut
Expiry7 Aug 2026
Strike50.00
Volume32
OI87
IV1.79
ContractSHAK260807C00066000
SideCall
Expiry7 Aug 2026
Strike66.00
Volume32
OI81
IV1.11
ContractSHAK260807P00045000
SidePut
Expiry7 Aug 2026
Strike45.00
Volume30
OI15
IV0.92
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.