Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
ASH options intelligence
Ashland Global Holdings Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
33
Market data through 31 Jul 2026
Checked 1 Aug 2026 19:24 · complete available chain
Options-market disagreement
Mixed pressure
ASH currently carries mixed options pressure with a 33/100 conviction score. The nearest-chain expected move is 8.3%, with volume/open-interest participation at 0.01.
Expected move
8.3%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
1.19
Balanced tape
Trend fit
100
Options agree with trend context
Weekly backdrop
+9.4%
RS 18.2
Expected move
8.3%
Put-call volume
1.19
Volume / OI
0.01
Reference IV
0.37
Max pain
65.00
Underlying
72.61
Nearest expiry
21 Aug 2026
Contracts
114
Research Brief
ASH has a mixed chain read with 33/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 66.56–78.66; The largest call open-interest concentration is 75.00; the largest put concentration is 65.00. The most active strike by current volume is 70.00.
Priced range66.56–78.66
Call concentration75.00
Put concentration65.00
Max pain reference65.00
- 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 66.56 to 78.66. Max pain at 65.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
66.5672.61 ± 6.0578.66
Confirmation level
A close beyond 78.66 or below 66.56 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 33/100
Pressure is 2/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure2 × 42%
+0.9
How strongly activity leans toward calls or puts.
Participation3 × 22%
+0.7
Volume relative to existing open interest and contract-level activity.
Trend agreement100 × 26%
+26.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility59 × 10%
+5.9
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 75.00; the largest put concentration is 65.00. 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
3
35.00-51.8%
0
2
40.00-44.9%
0
0
45.00-38.0%
0
0
50.00-31.1%
0
3
55.00-24.3%
9
18
60.00-17.4%
0
25
65.00-10.5%
25
17
70.00-3.6%
30
0
75.003.3%
41
1
80.0010.2%
40
0
85.0017.1%
1
0
90.0023.9%
2
0
95.0030.8%
1
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.
0.37
21 Aug
21d
0.41
18 Sep
49d
0.39
16 Oct
77d
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.
60
65
70
75
80
85
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
- 114 / 114
- 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.
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: $8110 of estimated gross traded notional, calls · 8-21 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+2
1W price+9.4%
Call premium83%
Put premium17%
Notional split
C 83% / P 17%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
100/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 2 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 · 8-21 days · ITM
calls cluster with 11 contracts traded, $4785 estimated gross traded notional, and 59% of visible notional.
$4785
Calls · 46-90 days · ITM
calls cluster with 2 contracts traded, $1090 estimated gross traded notional, and 13% of visible notional.
$1090
Puts · 46-90 days · OTM
puts cluster with 12 contracts traded, $715 estimated gross traded notional, and 9% of visible notional.
$715
Puts · 8-21 days · OTM
puts cluster with 7 contracts traded, $652 estimated gross traded notional, and 8% of visible notional.
$652
Calls · 46-90 days · OTM
calls cluster with 2 contracts traded, $600 estimated gross traded notional, and 7% of visible notional.
$600
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
Close72.61
1W+9.4%
RS18.2
Fair value+6.7%
Options pressure2
Speculation3
Volatility59
Trend fit100
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
Volatility
Pressure 58
Move 11.7%
30 Jul 10:46
Volatility
Pressure 100
Move 15.9%
30 Jul 15:05
Volatility
Pressure 58
Move 14.7%
31 Jul 11:09
Bullish
Pressure 78
Move 13.9%
1 Aug 11:53
Mixed
Pressure 2
Move 13.9%
1 Aug 18:24
Mixed
Pressure 2
Move 8.3%
Strike Map
Where activity is clustering
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
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 9
Puts · V 0 · OI 3
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 18
Strike65.00
Calls · V 0 · OI 25
Puts · V 6 · OI 25
Strike70.00
Calls · V 11 · OI 30
Puts · V 1 · OI 17
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts26
Avg IV0.37
Put-call0.64
Expiry18 Sep 2026
Contracts28
Avg IV0.41
Put-call-
Expiry16 Oct 2026
Contracts30
Avg IV0.39
Put-call-
Expiry15 Jan 2027
Contracts30
Avg IV0.43
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.41
Put IV0.47
Skew0.06
18 Sep 2026Put IV premium
Call IV0.41
Put IV0.47
Skew0.07
16 Oct 2026Balanced skew
Call IV0.41
Put IV0.42
Skew0.02
15 Jan 2027Put IV premium
Call IV0.37
Put IV0.46
Skew0.10
Contract Tape
Most active contracts
ContractASH260821C00070000
SideCall
Expiry21 Aug 2026
Strike70.00
Volume11
OI30
IV0.41
ContractASH261016P00050000
SidePut
Expiry16 Oct 2026
Strike50.00
Volume10
OI122
IV0.50
ContractASH260821P00065000
SidePut
Expiry21 Aug 2026
Strike65.00
Volume6
OI25
IV0.20
ContractASH260918C00070000
SideCall
Expiry18 Sep 2026
Strike70.00
Volume2
OI48
IV0.37
ContractASH260918C00075000
SideCall
Expiry18 Sep 2026
Strike75.00
Volume2
OI42
IV0.37
ContractASH261016P00065000
SidePut
Expiry16 Oct 2026
Strike65.00
Volume2
OI-
IV0.42
ContractASH260821P00070000
SidePut
Expiry21 Aug 2026
Strike70.00
Volume1
OI17
IV0.47
ContractASH270115C00095000
SideCall
Expiry15 Jan 2027
Strike95.00
Volume1
OI3
IV0.43
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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.