Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
AZO options intelligence
AutoZone Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
35
Market data through 30 Jul 2026
Checked 31 Jul 2026 13:44 · complete available chain
Call-side pressure
Bullish pressure
AZO currently carries bullish options pressure with a 35/100 conviction score. The nearest-chain expected move is 6.9%, with volume/open-interest participation at 0.12.
Expected move
6.9%
Wider near-term move priced
Activity / OI
0.12
Current volume is quieter versus prior open interest
Put-call
0.67
Call-side skew
Trend fit
44
Options are not fully confirming trend
Weekly backdrop
+2.0%
RS -23.6
Expected move
6.9%
Put-call volume
0.67
Volume / OI
0.12
Reference IV
0.34
Max pain
3030.00
Underlying
2957.41
Nearest expiry
21 Aug 2026
Contracts
1368
Research Brief
AZO has a bullish chain read with 35/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 2752.76–3162.06; The largest call open-interest concentration is 3600.00; the largest put concentration is 2900.00. The most active strike by current volume is 3000.00.
Priced range2752.76–3162.06
Call concentration3600.00
Put concentration2900.00
Max pain reference3030.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 2752.76 to 3162.06. Max pain at 3030.00 sits inside that range, 2.5% above spot.
Spot
Max pain
2752.762957.41 ± 204.653162.06
Confirmation level
A close beyond 3162.06 or below 2752.76 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 35/100
Pressure is 22/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure22 × 42%
+9.2
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.4
Volume relative to existing open interest and contract-level activity.
Trend agreement44 × 26%
+11.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility52 × 10%
+5.2
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 3600.00; the largest put concentration is 2900.00. The most active strike by current volume is 3000.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
57
2700.00-8.7%
7
57
2750.00-7.0%
5
40
2850.00-3.6%
5
84
2900.00-1.9%
10
55
2950.00-0.3%
10
44
3000.001.4%
69
13
3010.001.8%
40
26
3100.004.8%
44
21
3150.006.5%
48
10
3250.009.9%
95
5
3300.0011.6%
94
7
3350.0013.3%
71
5
3500.0018.3%
194
0
3550.0020.0%
84
0
3600.0021.7%
313
0
3650.0023.4%
142
0
3700.0025.1%
63
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.34
21 Aug
22d
0.34
18 Sep
50d
0.36
18 Dec
141d
0.35
15 Jan
169d
0.36
19 Mar
232d
0.36
17 Jun
322d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
2380
2420
2480
2550
2700
2800
2950
2990
3020
3040
3060
3090
3110
3140
3160
3190
3210
3240
3260
3400
3500
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
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
- 1368 / 1368
- 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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Options pressure and weekly price action are pointing in the same constructive direction.
Put-heavy activity matters because it connects the options headline to the actual evidence: $13.0M of estimated gross traded notional, puts · 91+ 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+22
1W price+2.0%
Call premium36%
Put premium64%
Notional split
C 36% / P 64%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.12
Volume divided by open interest across the visible chain.
Trend fit
44/100
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.
Puts · 91+ days · OTM
puts cluster with 326 contracts traded, $4.2M estimated gross traded notional, and 32% of visible notional.
$4.2M
Calls · 91+ days · OTM
calls cluster with 583 contracts traded, $1.9M estimated gross traded notional, and 15% of visible notional.
$1.9M
Puts · 91+ days · ITM
puts cluster with 44 contracts traded, $1.5M estimated gross traded notional, and 12% of visible notional.
$1.5M
Puts · 91+ days · ATM
puts cluster with 36 contracts traded, $907920 estimated gross traded notional, and 7% of visible notional.
$907920
Calls · 46-90 days · OTM
calls cluster with 151 contracts traded, $902025 estimated gross traded notional, and 7% of visible notional.
$902025
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
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
Close3016.25
1W+2.0%
RS-23.6
Fair value-7.6%
Options pressure22
Speculation43
Volatility52
Trend fit44
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 10:10
Bearish
Pressure -31
Move 9.2%
30 Jul 10:05
Bullish
Pressure 40
Move 9.6%
31 Jul 12:44
Bullish
Pressure 22
Move 6.9%
Strike Map
Where activity is clustering
Strike2380.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike2400.00
Calls · V 0 · OI 0
Puts · V 0 · OI 17
Strike2420.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike2440.00
Calls · V 0 · OI 1
Puts · V 0 · OI 1
Strike2460.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike2480.00
Calls · V 0 · OI 1
Puts · V 0 · OI 1
Strike2500.00
Calls · V 0 · OI 1
Puts · V 0 · OI 10
Strike2550.00
Calls · V 0 · OI 2
Puts · V 0 · OI 7
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts118
Avg IV0.34
Put-call0.90
Expiry18 Sep 2026
Contracts324
Avg IV0.34
Put-call0.43
Expiry18 Dec 2026
Contracts264
Avg IV0.36
Put-call0.02
Expiry15 Jan 2027
Contracts214
Avg IV0.35
Put-call3.31
Expiry19 Mar 2027
Contracts258
Avg IV0.36
Put-call0.72
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.35
Put IV0.34
Skew-0.01
18 Sep 2026Balanced skew
Call IV0.35
Put IV0.35
Skew-
18 Dec 2026Balanced skew
Call IV0.36
Put IV0.37
Skew0.01
15 Jan 2027Balanced skew
Call IV0.36
Put IV0.37
Skew0.01
19 Mar 2027Balanced skew
Call IV0.37
Put IV0.37
Skew-
Contract Tape
Most active contracts
ContractAZO261218C06300000
SideCall
Expiry18 Dec 2026
Strike6300.00
Volume221
OI41
IV0.53
ContractAZO270115P02850000
SidePut
Expiry15 Jan 2027
Strike2850.00
Volume200
OI4
IV0.36
ContractAZO270319C05400000
SideCall
Expiry19 Mar 2027
Strike5400.00
Volume152
OI347
IV0.41
ContractAZO270319P02000000
SidePut
Expiry19 Mar 2027
Strike2000.00
Volume98
OI205
IV0.41
ContractAZO261218C05000000
SideCall
Expiry18 Dec 2026
Strike5000.00
Volume73
OI144
IV0.45
ContractAZO270115C03850000
SideCall
Expiry15 Jan 2027
Strike3850.00
Volume70
OI10
IV0.37
ContractAZO270115P03000000
SidePut
Expiry15 Jan 2027
Strike3000.00
Volume36
OI28
IV0.35
ContractAZO260918C03300000
SideCall
Expiry18 Sep 2026
Strike3300.00
Volume34
OI85
IV0.35
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.