Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
OI options intelligence
O-I Glass Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
32
Market data through 31 Jul 2026
Checked 1 Aug 2026 06:38 · complete available chain
Options-market disagreement
Mixed pressure
OI currently carries mixed options pressure with a 32/100 conviction score. The nearest-chain expected move is 21.4%, with volume/open-interest participation at 0.01.
Expected move
21.4%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.99
Balanced tape
Trend fit
52
Options are not fully confirming trend
Weekly backdrop
-0.2%
RS -31.2
Expected move
21.4%
Put-call volume
0.99
Volume / OI
0.01
Reference IV
0.79
Max pain
9.00
Underlying
9.08
Nearest expiry
21 Aug 2026
Contracts
196
Research Brief
OI has a mixed chain read with 32/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 7.13–11.03; The largest call open-interest concentration is 9.00; the largest put concentration is 9.00. The most active strike by current volume is 8.00.
Priced range7.13–11.03
Call concentration9.00
Put concentration9.00
Max pain reference9.00
- 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 7.13 to 11.03. Max pain at 9.00 sits inside that range, 0.9% below spot.
Spot
Max pain
7.139.08 ± 1.9511.03
Confirmation level
A close beyond 11.03 or below 7.13 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 32/100
Pressure is 11/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure11 × 42%
+4.8
How strongly activity leans toward calls or puts.
Participation19 × 22%
+4.3
Volume relative to existing open interest and contract-level activity.
Trend agreement52 × 26%
+13.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility95 × 10%
+9.5
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 9.00; the largest put concentration is 9.00. The most active strike by current volume is 8.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
1.00-89.0%
12
18
5.00-44.9%
2
43
6.00-33.9%
4
169
7.00-22.9%
28
291
8.00-11.9%
377
440
9.00-0.9%
40338
242
10.0010.1%
5483
440
11.0021.1%
402
0
12.0032.2%
1106
49
13.0043.2%
159
9
14.0054.2%
225
0
15.0065.2%
367
0
16.0076.2%
41
0
17.0087.2%
49
0
19.00109.3%
17
0
20.00120.3%
17
0
21.00131.3%
74
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.
0.79
21 Aug
21d
0.53
18 Sep
49d
0.59
20 Nov
112d
0.59
18 Dec
140d
0.56
19 Feb
203d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
8
9
10
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
- 196 / 196
- 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: $60487 of estimated gross traded notional, puts · 91+ days · otm, 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+11
1W price-0.2%
Call premium30%
Put premium70%
Notional split
C 30% / P 70%
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
52/100
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.
Puts · 91+ days · OTM
puts cluster with 211 contracts traded, $33762 estimated gross traded notional, and 56% of visible notional.
$33762
Calls · 91+ days · ITM
calls cluster with 114 contracts traded, $14542 estimated gross traded notional, and 24% of visible notional.
$14542
Puts · 8-21 days · ATM
puts cluster with 20 contracts traded, $3850 estimated gross traded notional, and 6% of visible notional.
$3850
Puts · 8-21 days · ITM
puts cluster with 10 contracts traded, $2925 estimated gross traded notional, and 5% of visible notional.
$2925
Calls · 8-21 days · ITM
calls cluster with 120 contracts traded, $2212 estimated gross traded notional, and 4% of visible notional.
$2212
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.
Underlying price is close to the max-pain zone.
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
Close9.08
1W-0.2%
RS-31.2
Fair value-31.5%
Options pressure11
Speculation19
Volatility95
Trend fit52
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 11:08
Mixed
Pressure -3
Move 12.9%
30 Jul 10:56
Bullish
Pressure 41
Move 15.4%
31 Jul 11:38
Bullish
Pressure 20
Move 18.7%
31 Jul 13:56
Bullish
Pressure 63
Move 19.2%
1 Aug 05:38
Mixed
Pressure 11
Move 21.4%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 0 · OI 12
Puts · V 0 · OI 1
Strike2.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike3.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike4.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 2
Puts · V 0 · OI 18
Strike6.00
Calls · V 5 · OI 4
Puts · V 2 · OI 43
Strike7.00
Calls · V 4 · OI 28
Puts · V 41 · OI 169
Strike8.00
Calls · V 111 · OI 377
Puts · V 2 · OI 291
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts48
Avg IV0.79
Put-call0.58
Expiry18 Sep 2026
Contracts34
Avg IV0.53
Put-call-
Expiry20 Nov 2026
Contracts40
Avg IV0.59
Put-call0.06
Expiry18 Dec 2026
Contracts40
Avg IV0.59
Put-call0.64
Expiry19 Feb 2027
Contracts34
Avg IV0.56
Put-call3.33
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.68
Put IV0.43
Skew-0.24
18 Sep 2026Put IV premium
Call IV0.44
Put IV0.65
Skew0.20
20 Nov 2026Balanced skew
Call IV0.58
Put IV0.59
Skew0.01
18 Dec 2026Balanced skew
Call IV0.58
Put IV0.55
Skew-0.03
19 Feb 2027Balanced skew
Call IV0.57
Put IV0.58
Skew0.01
Contract Tape
Most active contracts
ContractOI270219P00008000
SidePut
Expiry19 Feb 2027
Strike8.00
Volume200
OI288
IV0.56
ContractOI260821C00008000
SideCall
Expiry21 Aug 2026
Strike8.00
Volume111
OI377
IV0.56
ContractOI260821P00007000
SidePut
Expiry21 Aug 2026
Strike7.00
Volume41
OI169
IV0.43
ContractOI270219C00006000
SideCall
Expiry19 Feb 2027
Strike6.00
Volume40
OI33
IV0.55
ContractOI261120C00010000
SideCall
Expiry20 Nov 2026
Strike10.00
Volume30
OI324
IV0.58
ContractOI261120C00008000
SideCall
Expiry20 Nov 2026
Strike8.00
Volume30
OI74
IV0.61
ContractOI261120C00007000
SideCall
Expiry20 Nov 2026
Strike7.00
Volume24
OI10
IV0.57
ContractOI260821P00009000
SidePut
Expiry21 Aug 2026
Strike9.00
Volume20
OI440
IV0.81
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.