Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
SLB options intelligence
Schlumberger NV options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
38
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:01 · complete available chain
Options-market disagreement
Mixed pressure
SLB currently carries mixed options pressure with a 38/100 conviction score. The nearest-chain expected move is 6.0%, with volume/open-interest participation at 0.02.
Expected move
6.0%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.79
Balanced tape
Trend fit
53
Options are not fully confirming trend
Weekly backdrop
-5.4%
RS 4.1
Expected move
6.0%
Put-call volume
0.79
Volume / OI
0.02
Reference IV
0.89
Max pain
48.00
Underlying
52.42
Nearest expiry
31 Jul 2026
Contracts
850
Research Brief
SLB has a mixed chain read with 38/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 49.26–55.58; The largest call open-interest concentration is 50.00; the largest put concentration is 51.00. The most active strike by current volume is 51.00.
Priced range49.26–55.58
Call concentration50.00
Put concentration51.00
Max pain reference48.00
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- Options and the weekly trend are not yet giving the same message.
- 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 49.26 to 55.58. Max pain at 48.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
49.2652.42 ± 3.1655.58
Confirmation level
A close beyond 55.58 or below 49.26 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 38/100
Pressure is 17/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure17 × 42%
+7.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement53 × 26%
+13.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility80 × 10%
+8.0
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 50.00; the largest put concentration is 51.00. The most active strike by current volume is 51.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
316
44.00-16.1%
15
154
45.00-14.2%
27
88
45.50-13.2%
517
389
46.00-12.2%
39
53
46.50-11.3%
73
110
47.00-10.3%
131
126
48.00-8.4%
2182
93
48.50-7.5%
167
279
49.00-6.5%
196
43
49.50-5.6%
407
397
50.00-4.6%
2514
926
51.00-2.7%
522
924
52.00-0.8%
1239
29
53.001.1%
573
2
54.003.0%
546
3
55.004.9%
279
0
56.006.8%
178
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.
0.89
31 Jul
1d
0.43
7 Aug
8d
0.38
14 Aug
15d
0.36
21 Aug
22d
0.33
28 Aug
29d
0.33
4 Sep
36d
0.25
11 Sep
43d
0.34
18 Sep
50d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
42
43
44
44
45
46
46
47
48
49
49
50
51
52
54
55
56
58
59
61
62
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 850 / 850
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
The options read is mixed, so divergence is not strong enough to classify.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $2.7M of estimated gross traded notional, puts · 0-7 days · atm, 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+17
1W price-5.4%
Call premium47%
Put premium53%
Notional split
C 47% / P 53%
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
53/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Puts · 0-7 days · ATM
puts cluster with 1450 contracts traded, $464045 estimated gross traded notional, and 17% of visible notional.
$464045
Calls · 91+ days · OTM
calls cluster with 3997 contracts traded, $456892 estimated gross traded notional, and 17% of visible notional.
$456892
Puts · 0-7 days · OTM
puts cluster with 3271 contracts traded, $452642 estimated gross traded notional, and 17% of visible notional.
$452642
Calls · 91+ days · ITM
calls cluster with 805 contracts traded, $407798 estimated gross traded notional, and 15% of visible notional.
$407798
Puts · 91+ days · OTM
puts cluster with 705 contracts traded, $144317 estimated gross traded notional, and 5% of visible notional.
$144317
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.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close49.59
1W-5.4%
RS4.1
Fair value+14.2%
Options pressure17
Speculation41
Volatility80
Trend fit53
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:04
Mixed
Pressure 15
Move 4.5%
30 Jul 10:02
Bullish
Pressure 54
Move 5.2%
31 Jul 10:01
Mixed
Pressure 17
Move 6.0%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 11
Puts · V 0 · OI 2
Strike35.00
Calls · V 0 · OI 10
Puts · V 0 · OI 0
Strike36.00
Calls · V 0 · OI 7
Puts · V 0 · OI 0
Strike37.00
Calls · V 0 · OI 10
Puts · V 0 · OI 0
Strike38.00
Calls · V 1 · OI 4
Puts · V 0 · OI 0
Strike39.00
Calls · V 6 · OI 9
Puts · V 0 · OI 37
Strike40.00
Calls · V 6 · OI 38
Puts · V 0 · OI 2
Strike41.00
Calls · V 9 · OI 2
Puts · V 0 · OI 8
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts88
Avg IV0.89
Put-call3.27
Expiry7 Aug 2026
Contracts76
Avg IV0.43
Put-call1.31
Expiry14 Aug 2026
Contracts72
Avg IV0.38
Put-call0.74
Expiry21 Aug 2026
Contracts100
Avg IV0.36
Put-call1.23
Expiry28 Aug 2026
Contracts56
Avg IV0.33
Put-call0.56
Skew
Call/put IV balance
31 Jul 2026Call IV premium
Call IV0.71
Put IV0.42
Skew-0.28
7 Aug 2026Balanced skew
Call IV0.35
Put IV0.34
Skew-0.01
14 Aug 2026Call IV premium
Call IV0.34
Put IV0.27
Skew-0.07
21 Aug 2026Balanced skew
Call IV0.32
Put IV0.32
Skew-
28 Aug 2026Balanced skew
Call IV0.33
Put IV0.32
Skew-0.01
Contract Tape
Most active contracts
ContractSLB270115C00065000
SideCall
Expiry15 Jan 2027
Strike65.00
Volume2521
OI79771
IV0.34
ContractSLB260731P00051000
SidePut
Expiry31 Jul 2026
Strike51.00
Volume1601
OI926
IV0.79
ContractSLB260731P00052000
SidePut
Expiry31 Jul 2026
Strike52.00
Volume1390
OI924
IV0.82
ContractSLB260807C00051000
SideCall
Expiry7 Aug 2026
Strike51.00
Volume459
OI127
IV0.33
ContractSLB261120C00055000
SideCall
Expiry20 Nov 2026
Strike55.00
Volume406
OI5303
IV0.33
ContractSLB260904C00052000
SideCall
Expiry4 Sep 2026
Strike52.00
Volume394
OI5
IV0.31
ContractSLB261120C00047500
SideCall
Expiry20 Nov 2026
Strike47.50
Volume360
OI224
IV0.33
ContractSLB260807P00048000
SidePut
Expiry7 Aug 2026
Strike48.00
Volume332
OI552
IV0.33
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.