Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
GRMN options intelligence
Garmin Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 31 Jul 2026
Checked 1 Aug 2026 02:03 · complete available chain
Call-side pressure
Bullish pressure
GRMN currently carries bullish options pressure with a 51/100 conviction score. The nearest-chain expected move is 22.9%, with volume/open-interest participation at 0.08.
Expected move
22.9%
Wider near-term move priced
Activity / OI
0.08
Current volume is quieter versus prior open interest
Put-call
0.20
Call-side skew
Trend fit
19
Options are not fully confirming trend
Weekly backdrop
+20.9%
RS 17.7
Expected move
22.9%
Put-call volume
0.20
Volume / OI
0.08
Reference IV
0.42
Max pain
260.00
Underlying
243.03
Nearest expiry
21 Aug 2026
Contracts
322
Research Brief
GRMN has a bullish chain read with 51/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 187.38–298.68; The largest call open-interest concentration is 320.00; the largest put concentration is 230.00. The most active strike by current volume is 330.00.
Priced range187.38–298.68
Call concentration320.00
Put concentration230.00
Max pain reference260.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- 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 187.38 to 298.68. Max pain at 260.00 sits inside that range, 7.0% above spot.
Spot
Max pain
187.38243.03 ± 55.65298.68
Confirmation level
A close beyond 298.68 or below 187.38 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 51/100
Pressure is 71/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure71 × 42%
+29.8
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement19 × 26%
+4.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility69 × 10%
+6.9
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 320.00; the largest put concentration is 230.00. The most active strike by current volume is 330.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
22
190.00-21.8%
2
20
200.00-17.7%
0
34
210.00-13.6%
13
15
220.00-9.5%
6
347
230.00-5.4%
21
83
240.00-1.2%
205
129
250.002.9%
68
24
260.007.0%
261
21
270.0011.1%
184
220
280.0015.2%
89
90
290.0019.3%
35
31
300.0023.4%
41
10
310.0027.6%
91
1
320.0031.7%
698
6
330.0035.8%
15
1
340.0039.9%
12
5
350.0044.0%
0
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.
0.42
21 Aug
21d
0.36
18 Sep
49d
0.34
16 Oct
77d
0.36
18 Dec
140d
0.34
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.
195
200
210
220
230
240
250
260
270
280
290
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
- 322 / 322
- 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.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $605261 of estimated gross traded notional, calls · 46-90 days · otm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+71
1W price+20.9%
Call premium77%
Put premium23%
Notional split
C 77% / P 23%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.08
Volume divided by open interest across the visible chain.
Trend fit
19/100
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.
Calls · 46-90 days · OTM
calls cluster with 495 contracts traded, $177880 estimated gross traded notional, and 29% of visible notional.
$177880
Calls · 91+ days · ATM
calls cluster with 23 contracts traded, $145245 estimated gross traded notional, and 24% of visible notional.
$145245
Calls · 8-21 days · OTM
calls cluster with 78 contracts traded, $108971 estimated gross traded notional, and 18% of visible notional.
$108971
Puts · 8-21 days · ITM
puts cluster with 74 contracts traded, $62732 estimated gross traded notional, and 10% of visible notional.
$62732
Puts · 91+ days · ITM
puts cluster with 32 contracts traded, $62505 estimated gross traded notional, and 10% of visible notional.
$62505
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.
Options positioning is not confirming the underlying trend context.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close293.78
1W+20.9%
RS17.7
Fair value+59.0%
Options pressure71
Speculation42
Volatility69
Trend fit19
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 10:10
Mixed
Pressure -1
Move 10.3%
30 Jul 10:06
Mixed
Pressure 6
Move 23.1%
31 Jul 10:03
Mixed
Pressure 7
Move 9.3%
31 Jul 17:05
Volatility
Pressure -25
Move 23.5%
31 Jul 19:41
Volatility
Pressure -15
Move 23.9%
31 Jul 22:10
Volatility
Pressure -20
Move 22.9%
1 Aug 00:12
Volatility
Pressure -20
Move 22.9%
1 Aug 01:03
Bullish
Pressure 71
Move 22.9%
Strike Map
Where activity is clustering
Strike150.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike155.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike160.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike165.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike170.00
Calls · V 0 · OI 6
Puts · V 0 · OI 0
Strike175.00
Calls · V 0 · OI 7
Puts · V 0 · OI 0
Strike180.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike185.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts54
Avg IV0.42
Put-call1.05
Expiry18 Sep 2026
Contracts54
Avg IV0.36
Put-call0.05
Expiry16 Oct 2026
Contracts66
Avg IV0.34
Put-call0.00
Expiry18 Dec 2026
Contracts82
Avg IV0.36
Put-call0.83
Expiry15 Jan 2027
Contracts66
Avg IV0.34
Put-call0.64
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.26
Put IV0.30
Skew0.04
18 Sep 2026Put IV premium
Call IV0.26
Put IV0.36
Skew0.10
16 Oct 2026Put IV premium
Call IV0.26
Put IV0.33
Skew0.07
18 Dec 2026Put IV premium
Call IV0.29
Put IV0.37
Skew0.08
15 Jan 2027Put IV premium
Call IV0.30
Put IV0.36
Skew0.06
Contract Tape
Most active contracts
ContractGRMN261016C00350000
SideCall
Expiry16 Oct 2026
Strike350.00
Volume204
OI3
IV0.25
ContractGRMN260918C00310000
SideCall
Expiry18 Sep 2026
Strike310.00
Volume118
OI12
IV0.27
ContractGRMN261016C00360000
SideCall
Expiry16 Oct 2026
Strike360.00
Volume68
OI10
IV0.24
ContractGRMN261016C00300000
SideCall
Expiry16 Oct 2026
Strike300.00
Volume49
OI16
IV0.29
ContractGRMN270115P00290000
SidePut
Expiry15 Jan 2027
Strike290.00
Volume27
OI29
IV0.32
ContractGRMN260821C00330000
SideCall
Expiry21 Aug 2026
Strike330.00
Volume27
OI15
IV0.17
ContractGRMN260918C00330000
SideCall
Expiry18 Sep 2026
Strike330.00
Volume27
OI-
IV0.26
ContractGRMN270115C00240000
SideCall
Expiry15 Jan 2027
Strike240.00
Volume23
OI42
IV0.34
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
No upcoming matched earnings event.
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.