Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
THO options intelligence
Thor Industries Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
54
Market data through 31 Jul 2026
Checked 2 Aug 2026 07:34 · complete available chain
Put-side pressure
Bearish pressure
THO currently carries bearish options pressure with a 54/100 conviction score. The nearest-chain expected move is 7.5%, with volume/open-interest participation at 0.00.
Expected move
7.5%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
8.50
Put-side skew
Trend fit
56
Options are not fully confirming trend
Weekly backdrop
-2.2%
RS -26.8
Expected move
7.5%
Put-call volume
8.50
Volume / OI
0.00
Reference IV
0.41
Max pain
85.00
Underlying
74.97
Nearest expiry
21 Aug 2026
Contracts
326
Research Brief
THO has a bearish chain read with 54/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 69.35–80.59; The largest call open-interest concentration is 85.00; the largest put concentration is 60.00. The most active strike by current volume is 60.00.
Priced range69.35–80.59
Call concentration85.00
Put concentration60.00
Max pain reference85.00
- Price remains weak while put-side concentration persists.
- Price recovers while put pressure fades or reverses toward calls.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 69.35 to 80.59. Max pain at 85.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
69.3574.97 ± 5.6280.59
Confirmation level
A close beyond 80.59 or below 69.35 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 54/100
Pressure is 78/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure78 × 42%
+32.9
How strongly activity leans toward calls or puts.
Participation1 × 22%
+0.3
Volume relative to existing open interest and contract-level activity.
Trend agreement56 × 26%
+14.6
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 85.00; the largest put concentration is 60.00. The most active strike by current volume is 60.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
40.00-46.6%
0
0
45.00-40.0%
0
0
50.00-33.3%
0
44
55.00-26.6%
0
225
60.00-20.0%
0
177
65.00-13.3%
0
154
70.00-6.6%
0
58
75.000.0%
30
29
80.006.7%
143
175
85.0013.4%
168
0
90.0020.0%
106
0
95.0026.7%
10
0
100.0033.4%
0
0
105.0040.1%
0
0
110.0046.7%
0
0
115.0053.4%
0
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.
0.41
21 Aug
21d
0.41
18 Sep
49d
0.45
16 Oct
77d
0.44
18 Dec
140d
0.45
15 Jan
168d
0.46
19 Mar
231d
0.47
21 Jan
539d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
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
- 326 / 326
- 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 both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $8372 of estimated gross traded notional, puts · 46-90 days · itm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-78
1W price-2.2%
Call premium3%
Put premium97%
Notional split
C 3% / P 97%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
56/100
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 · 46-90 days · ITM
puts cluster with 3 contracts traded, $7410 estimated gross traded notional, and 89% of visible notional.
$7410
Puts · 91+ days · OTM
puts cluster with 3 contracts traded, $410 estimated gross traded notional, and 5% of visible notional.
$410
Calls · 46-90 days · OTM
calls cluster with 1 contracts traded, $245 estimated gross traded notional, and 3% of visible notional.
$245
Puts · 46-90 days · OTM
puts cluster with 1 contracts traded, $198 estimated gross traded notional, and 2% of visible notional.
$198
Puts · 8-21 days · OTM
puts cluster with 10 contracts traded, $100 estimated gross traded notional, and 1% of visible notional.
$100
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.
Put pressure is building after the stock has already moved below 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
Close74.97
1W-2.2%
RS-26.8
Fair value-20.9%
Options pressure-78
Speculation1
Volatility59
Trend fit56
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 10:43
Volatility
Pressure -29
Move 11.1%
30 Jul 13:18
Bullish
Pressure 37
Move 9.3%
30 Jul 14:05
Mixed
Pressure 3
Move 8.4%
31 Jul 13:11
Bearish
Pressure -74
Move 8.0%
31 Jul 17:19
Mixed
Pressure 10
Move 7.5%
1 Aug 02:59
Bearish
Pressure -78
Move 7.3%
2 Aug 06:34
Bearish
Pressure -78
Move 7.5%
Strike Map
Where activity is clustering
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
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 0
Puts · V 0 · OI 44
Strike60.00
Calls · V 0 · OI 0
Puts · V 10 · OI 225
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 177
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 154
Strike75.00
Calls · V 0 · OI 30
Puts · V 0 · OI 58
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts32
Avg IV0.41
Put-call10.00
Expiry18 Sep 2026
Contracts58
Avg IV0.41
Put-call3.00
Expiry16 Oct 2026
Contracts58
Avg IV0.45
Put-call-
Expiry18 Dec 2026
Contracts32
Avg IV0.44
Put-call-
Expiry15 Jan 2027
Contracts58
Avg IV0.45
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
18 Sep 2026Put IV premium
Call IV0.36
Put IV0.41
Skew0.06
16 Oct 2026Balanced skew
Call IV0.41
Put IV0.45
Skew0.04
18 Dec 2026Balanced skew
Call IV0.41
Put IV0.45
Skew0.05
15 Jan 2027Put IV premium
Call IV0.41
Put IV0.48
Skew0.07
Contract Tape
Most active contracts
ContractTHO260821P00060000
SidePut
Expiry21 Aug 2026
Strike60.00
Volume10
OI225
IV0.37
ContractTHO260918P00100000
SidePut
Expiry18 Sep 2026
Strike100.00
Volume3
OI266
IV0.41
ContractTHO260918C00080000
SideCall
Expiry18 Sep 2026
Strike80.00
Volume1
OI972
IV0.39
ContractTHO261016P00065000
SidePut
Expiry16 Oct 2026
Strike65.00
Volume1
OI124
IV0.45
ContractTHO260821C00090000
SideCall
Expiry21 Aug 2026
Strike90.00
Volume1
OI106
IV0.30
ContractTHO261218P00055000
SidePut
Expiry18 Dec 2026
Strike55.00
Volume1
OI16
IV0.47
ContractTHO261218P00060000
SidePut
Expiry18 Dec 2026
Strike60.00
Volume1
OI11
IV0.47
ContractTHO261218P00050000
SidePut
Expiry18 Dec 2026
Strike50.00
Volume1
OI6
IV0.47
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.