Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
CSCO options intelligence
Cisco Systems Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 2 Aug 2026 19:36 · complete available chain
Call-side pressure
Bullish pressure
CSCO currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 4.1%, with volume/open-interest participation at 0.04.
Expected move
4.1%
Near-term move context
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
0.58
Call-side skew
Trend fit
73
Options agree with trend context
Weekly backdrop
+1.6%
RS 26.3
Expected move
4.1%
Put-call volume
0.58
Volume / OI
0.04
Reference IV
0.37
Max pain
111.00
Underlying
115.99
Nearest expiry
7 Aug 2026
Contracts
1322
Research Brief
CSCO has a bullish chain read with 45/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 111.23–120.75; The largest call open-interest concentration is 115.00; the largest put concentration is 100.00. The most active strike by current volume is 116.00.
Priced range111.23–120.75
Call concentration115.00
Put concentration100.00
Max pain reference111.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 111.23 to 120.75. Max pain at 111.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
111.23115.99 ± 4.76120.75
Confirmation level
A close beyond 120.75 or below 111.23 at the 7 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 45/100
Pressure is 30/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure30 × 42%
+12.5
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement73 × 26%
+18.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility42 × 10%
+4.2
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 115.00; the largest put concentration is 100.00. The most active strike by current volume is 116.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
2134
100.00-13.8%
17
1042
104.00-10.3%
11
214
105.00-9.5%
852
606
108.00-6.9%
13
879
110.00-5.2%
128
74
114.00-1.7%
151
292
115.00-0.9%
2012
71
116.000.0%
265
155
117.000.9%
214
42
118.001.7%
327
98
119.002.6%
247
59
120.003.5%
463
28
122.005.2%
389
13
123.006.0%
471
21
124.006.9%
450
14
125.007.8%
1171
11
130.0012.1%
1379
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.
0.37
7 Aug
7d
0.62
14 Aug
14d
0.55
21 Aug
21d
0.52
28 Aug
28d
0.49
4 Sep
35d
0.48
11 Sep
42d
0.46
18 Sep
49d
0.43
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
95
100
102
104
105
107
109
111
113
115
116
118
120
122
124
126
128
129
131
133
135
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1322 / 1322
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $15.4M of estimated gross traded notional, calls · 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+30
1W price+1.6%
Call premium64%
Put premium36%
Notional split
C 64% / P 36%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
Volume divided by open interest across the visible chain.
Trend fit
73/100
Agreement between options pressure and Sharemaestro market context.
Event window
12 Aug
Matched earnings event is 10 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 91+ days · OTM
calls cluster with 5345 contracts traded, $3.3M estimated gross traded notional, and 22% of visible notional.
$3.3M
Puts · 91+ days · ATM
puts cluster with 788 contracts traded, $1.2M estimated gross traded notional, and 8% of visible notional.
$1.2M
Puts · 91+ days · ITM
puts cluster with 495 contracts traded, $1.2M estimated gross traded notional, and 8% of visible notional.
$1.2M
Puts · 8-21 days · ATM
puts cluster with 2018 contracts traded, $1.1M estimated gross traded notional, and 7% of visible notional.
$1.1M
Calls · 46-90 days · OTM
calls cluster with 3980 contracts traded, $979724 estimated gross traded notional, and 6% of visible notional.
$979724
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close115.99
1W+1.6%
RS26.3
Fair value+83.3%
Options pressure30
Speculation41
Volatility42
Trend fit73
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 14:36
Mixed
Pressure -3
Move 3.8%
29 Jul 15:00
Mixed
Pressure -8
Move 3.8%
29 Jul 15:20
Mixed
Pressure 1
Move 3.4%
29 Jul 15:44
Mixed
Pressure 4
Move 3.5%
29 Jul 16:05
Mixed
Pressure 2
Move 3.5%
29 Jul 16:30
Mixed
Pressure -1
Move 3.2%
29 Jul 16:52
Mixed
Pressure -1
Move 3.1%
29 Jul 17:14
Mixed
Pressure 4
Move 3.2%
Strike Map
Where activity is clustering
Strike65.00
Calls · V 0 · OI 4
Puts · V 0 · OI 1
Strike70.00
Calls · V 0 · OI 12
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 253
Strike90.00
Calls · V 0 · OI 6
Puts · V 0 · OI 369
Strike95.00
Calls · V 0 · OI 16
Puts · V 7 · OI 82
Strike99.00
Calls · V 0 · OI 0
Puts · V 110 · OI 157
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts106
Avg IV0.37
Put-call0.25
Expiry14 Aug 2026
Contracts138
Avg IV0.62
Put-call0.72
Expiry21 Aug 2026
Contracts106
Avg IV0.55
Put-call1.62
Expiry28 Aug 2026
Contracts96
Avg IV0.52
Put-call0.07
Expiry4 Sep 2026
Contracts92
Avg IV0.49
Put-call0.77
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.37
Put IV0.38
Skew0.01
14 Aug 2026Balanced skew
Call IV0.61
Put IV0.63
Skew0.02
21 Aug 2026Balanced skew
Call IV0.55
Put IV0.55
Skew-
28 Aug 2026Balanced skew
Call IV0.50
Put IV0.52
Skew0.02
4 Sep 2026Balanced skew
Call IV0.48
Put IV0.50
Skew0.02
Contract Tape
Most active contracts
ContractCSCO260918C00135000
SideCall
Expiry18 Sep 2026
Strike135.00
Volume1534
OI13924
IV0.45
ContractCSCO261218C00145000
SideCall
Expiry18 Dec 2026
Strike145.00
Volume1486
OI3399
IV0.41
ContractCSCO270319P00055000
SidePut
Expiry19 Mar 2027
Strike55.00
Volume1477
OI9647
IV0.51
ContractCSCO260821P00115000
SidePut
Expiry21 Aug 2026
Strike115.00
Volume1417
OI2580
IV0.55
ContractCSCO260807C00116000
SideCall
Expiry7 Aug 2026
Strike116.00
Volume1359
OI265
IV0.38
ContractCSCO260807C00124000
SideCall
Expiry7 Aug 2026
Strike124.00
Volume1301
OI450
IV0.39
ContractCSCO270319C00180000
SideCall
Expiry19 Mar 2027
Strike180.00
Volume1250
OI3324
IV0.41
ContractCSCO260828C00135000
SideCall
Expiry28 Aug 2026
Strike135.00
Volume1198
OI69
IV0.51
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.