Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
STX options intelligence
Seagate Technology PLC options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 31 Jul 2026
Checked 31 Jul 2026 23:50 · partial chain
Options-market disagreement
Mixed pressure
STX currently carries mixed options pressure with a 37/100 conviction score. The nearest-chain expected move is 1.2%, with volume/open-interest participation at 0.29.
Expected move
1.2%
Near-term move context
Activity / OI
0.29
Current volume is quieter versus prior open interest
Put-call
0.89
Balanced tape
Trend fit
79
Options agree with trend context
Weekly backdrop
+8.1%
RS 83.6
Expected move
1.2%
Put-call volume
0.89
Volume / OI
0.29
Reference IV
0.42
Max pain
810.00
Underlying
851.69
Nearest expiry
31 Jul 2026
Contracts
2000
Research Brief
STX has a mixed chain read with 37/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 841.86–861.52; The largest call open-interest concentration is 950.00; the largest put concentration is 650.00. The most active strike by current volume is 900.00.
Priced range841.86–861.52
Call concentration950.00
Put concentration650.00
Max pain reference810.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 841.86 to 861.52. Max pain at 810.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
841.86851.69 ± 9.83861.52
Confirmation level
A close beyond 861.52 or below 841.86 at the 31 Jul 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 37/100
Pressure is 7/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure7 × 42%
+2.9
How strongly activity leans toward calls or puts.
Participation47 × 22%
+10.3
Volume relative to existing open interest and contract-level activity.
Trend agreement79 × 26%
+20.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility34 × 10%
+3.4
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 950.00; the largest put concentration is 650.00. The most active strike by current volume is 900.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
794
575.00-32.5%
3
794
600.00-29.6%
31
865
650.00-23.7%
9
765
700.00-17.8%
39
273
800.00-6.1%
617
116
830.00-2.5%
686
412
850.00-0.2%
2030
33
860.001.0%
213
27
890.004.5%
798
77
900.005.7%
555
53
920.008.0%
1212
24
930.009.2%
774
87
950.0011.5%
2249
0
1000.0017.4%
786
0
1050.0023.3%
1818
0
1150.0035.0%
2145
0
1400.0064.4%
1161
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.
0.42
31 Jul
0d
0.96
7 Aug
7d
0.90
14 Aug
14d
0.91
21 Aug
21d
0.91
28 Aug
28d
0.92
4 Sep
35d
0.89
18 Sep
49d
0.88
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.
683
693
703
715
725
735
748
765
785
805
825
850
870
890
910
920
935
955
975
1000
1020
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
Good
Retained chain52%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 3823
- 52% of provider contracts were retained for this snapshot.
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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $121.7M of estimated gross traded notional, calls · 0-7 days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+7
1W price+8.1%
Call premium62%
Put premium38%
Notional split
C 62% / P 38%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.29
Volume divided by open interest across the visible chain.
Trend fit
79/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 3 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 · 0-7 days · ITM
calls cluster with 1752 contracts traded, $16.4M estimated gross traded notional, and 13% of visible notional.
$16.4M
Calls · 46-90 days · ITM
calls cluster with 421 contracts traded, $16.1M estimated gross traded notional, and 13% of visible notional.
$16.1M
Calls · 8-21 days · ITM
calls cluster with 621 contracts traded, $13.0M estimated gross traded notional, and 11% of visible notional.
$13.0M
Puts · 46-90 days · ITM
puts cluster with 381 contracts traded, $9.0M estimated gross traded notional, and 7% of visible notional.
$9.0M
Puts · 0-7 days · ITM
puts cluster with 755 contracts traded, $8.0M estimated gross traded notional, and 7% of visible notional.
$8.0M
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close851.69
1W+8.1%
RS83.6
Fair value+309.6%
Options pressure7
Speculation47
Volatility34
Trend fit79
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 10:00
Mixed
Pressure -9
Move 15.6%
30 Jul 10:00
Mixed
Pressure 5
Move 11.7%
31 Jul 06:29
Bearish
Pressure -19
Move 5.2%
31 Jul 13:53
Bearish
Pressure -18
Move 8.6%
31 Jul 17:10
Mixed
Pressure 4
Move 3.0%
31 Jul 18:09
Mixed
Pressure 6
Move 4.2%
31 Jul 19:09
Mixed
Pressure 7
Move 3.2%
31 Jul 22:50
Mixed
Pressure 7
Move 1.2%
Strike Map
Where activity is clustering
Strike400.00
Calls · V 6 · OI 5
Puts · V 2 · OI 607
Strike410.00
Calls · V 0 · OI 0
Puts · V 82 · OI 29
Strike420.00
Calls · V 0 · OI 1
Puts · V 2 · OI 233
Strike430.00
Calls · V 0 · OI 0
Puts · V 72 · OI 53
Strike440.00
Calls · V 0 · OI 0
Puts · V 204 · OI 214
Strike445.00
Calls · V 1 · OI 0
Puts · V 1 · OI 122
Strike450.00
Calls · V 1 · OI 1
Puts · V 3 · OI 84
Strike455.00
Calls · V 1 · OI 2
Puts · V 8 · OI 11
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts430
Avg IV0.42
Put-call0.54
Expiry7 Aug 2026
Contracts324
Avg IV0.96
Put-call0.94
Expiry14 Aug 2026
Contracts265
Avg IV0.90
Put-call1.47
Expiry21 Aug 2026
Contracts270
Avg IV0.91
Put-call2.27
Expiry28 Aug 2026
Contracts213
Avg IV0.91
Put-call1.09
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.48
Put IV0.73
Skew0.25
7 Aug 2026Balanced skew
Call IV1.00
Put IV0.98
Skew-0.01
14 Aug 2026Put IV premium
Call IV0.88
Put IV0.94
Skew0.06
21 Aug 2026Balanced skew
Call IV0.92
Put IV0.90
Skew-0.02
28 Aug 2026Balanced skew
Call IV0.92
Put IV0.89
Skew-0.03
Contract Tape
Most active contracts
ContractSTX260918C01490000
SideCall
Expiry18 Sep 2026
Strike1490.00
Volume-
OI33
IV0.90
ContractSTX260814C00505000
SideCall
Expiry14 Aug 2026
Strike505.00
Volume-
OI10
IV1.35
ContractSTX260731C00470000
SideCall
Expiry31 Jul 2026
Strike470.00
Volume-
OI7
IV7.74
ContractSTX260814C01220000
SideCall
Expiry14 Aug 2026
Strike1220.00
Volume-
OI6
IV0.99
ContractSTX260814P00975000
SidePut
Expiry14 Aug 2026
Strike975.00
Volume-
OI6
IV0.86
ContractSTX260828C00685000
SideCall
Expiry28 Aug 2026
Strike685.00
Volume-
OI6
IV1.01
ContractSTX260807P00440000
SidePut
Expiry7 Aug 2026
Strike440.00
Volume-
OI5
IV2.33
ContractSTX260918P01360000
SidePut
Expiry18 Sep 2026
Strike1360.00
Volume-
OI5
IV0.80
Research Graph
Related research and context
Sharemaestro research
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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.