Ticker Options Intelligence

CPB options intelligence

Campbell’s Co options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 37 Market data through 31 Jul 2026 Checked 1 Aug 2026 22:07 · complete available chain

Call-side pressure

Bullish pressure

CPB currently carries bullish options pressure with a 37/100 conviction score. The nearest-chain expected move is 3.6%, with volume/open-interest participation at 0.03.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 3.6%

Near-term move context

Activity / OI 0.03

Current volume is quieter versus prior open interest

Put-call 0.42

Call-side skew

Trend fit 23

Options are not fully confirming trend

Weekly backdrop +0.6%

RS -23.2

Expected move 3.6%
Put-call volume 0.42
Volume / OI 0.03
Reference IV 0.34
Max pain 22.00
Underlying 21.98
Nearest expiry 7 Aug 2026
Contracts 684

Research Brief

CPB has a bullish chain read with 37/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 21.18–22.78; The largest call open-interest concentration is 24.00; the largest put concentration is 21.00. The most active strike by current volume is 22.00.

Priced range21.18–22.78
Call concentration24.00
Put concentration21.00
Max pain reference22.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • 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

Size, not direction · through 7 Aug

Options imply 21.18 to 22.78. Max pain at 22.00 sits inside that range, 0.1% above spot.

Spot Max pain
21.1821.98 ± 0.8022.78
Confirmation level

A close beyond 22.78 or below 21.18 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 37/100

Evidence alignment, not probability

Pressure is 44/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure44 × 42%
+18.3

How strongly activity leans toward calls or puts.

Participation41 × 22%
+9.0

Volume relative to existing open interest and contract-level activity.

Trend agreement23 × 26%
+6.1

How closely the chain read agrees with the underlying trend backdrop.

Volatility39 × 10%
+3.9

The intensity of implied volatility and the priced move.

Reconstructed score37.2Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 24.00; the largest put concentration is 21.00. The most active strike by current volume is 22.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
10
18.00-18.1%
0
40
19.00-13.6%
0
24
19.50-11.3%
0
69
20.00-9.0%
0
184
20.50-6.7%
21
1200
21.00-4.5%
200
146
21.50-2.2%
9
305
22.000.1%
606
80
22.502.4%
263
114
23.004.6%
240
10
23.506.9%
301
4
24.009.2%
835
0
24.5011.5%
107
0
25.0013.7%
101
0
25.5016.0%
43
0
26.0018.3%
30
0
27.0022.8%
22
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

0.91× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

0.34 7 Aug 7d
0.39 14 Aug 14d
0.35 21 Aug 21d
0.39 28 Aug 28d
0.38 4 Sep 35d
0.39 11 Sep 42d
0.38 18 Sep 49d
0.36 20 Nov 112d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

18
19
19
20
20
21
21
22
22
23
23
24
24
25
25
26
26
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
684 / 684
  • 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

94/100
Primary intent Short-dated OTM call concentration

Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $309912 of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+44
1W price+0.6%
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 0.03 Volume divided by open interest across the visible chain.
Trend fit 23/100 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.
Conviction clusters Calls · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 615 contracts traded, $48568 estimated gross traded notional, and 16% of visible notional.
$48568
Calls · 91+ days · ITM calls cluster with 46 contracts traded, $35250 estimated gross traded notional, and 11% of visible notional.
$35250
Calls · 46-90 days · OTM calls cluster with 787 contracts traded, $33040 estimated gross traded notional, and 11% of visible notional.
$33040
Calls · 0-7 days · ATM calls cluster with 850 contracts traded, $26225 estimated gross traded notional, and 8% of visible notional.
$26225
Puts · 0-7 days · ATM puts cluster with 419 contracts traded, $19392 estimated gross traded notional, and 6% of visible notional.
$19392

Setup Classification

Opportunity and risk frame

Context, not advice
Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Warning Crowded strike risk

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

Sharemaestro weekly
Close21.98
1W+0.6%
RS-23.2
Fair value-35.9%
Options pressure44
Speculation41
Volatility39
Trend fit23

Today Versus Normal

Stored-options context

View history
Expected move 3.6% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.34 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.42 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.03 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:35 Bullish
Pressure 22
Move 4.3%
30 Jul 10:32 Bullish
Pressure 39
Move 3.9%
31 Jul 10:22 Bullish
Pressure 31
Move 3.7%
31 Jul 15:41 Mixed
Pressure 2
Move 1.7%
31 Jul 16:40 Mixed
Pressure -3
Move 1.1%
31 Jul 23:54 Mixed
Pressure 17
Move 0.3%
1 Aug 02:34 Bullish
Pressure 39
Move 0.3%
1 Aug 05:05 Bullish
Pressure 44
Move 3.7%

Strike Map

Where activity is clustering

Full strike map
Strike13.00
Calls · V 0 · OI 7
Puts · V 0 · OI 0
Strike14.00
Calls · V 0 · OI 3
Puts · V 0 · OI 3
Strike15.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike16.00
Calls · V 0 · OI 1
Puts · V 0 · OI 1
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike17.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike18.00
Calls · V 0 · OI 0
Puts · V 3 · OI 10
Strike18.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1

Term Structure

Expiration activity

Volume and IV
Expiry7 Aug 2026
Contracts56
Avg IV0.34
Put-call0.46
Expiry14 Aug 2026
Contracts60
Avg IV0.39
Put-call0.73
Expiry21 Aug 2026
Contracts72
Avg IV0.35
Put-call0.31
Expiry28 Aug 2026
Contracts58
Avg IV0.39
Put-call5.70
Expiry4 Sep 2026
Contracts58
Avg IV0.38
Put-call0.05

Skew

Call/put IV balance

OTM demand
7 Aug 2026Balanced skew
Call IV0.30
Put IV0.34
Skew0.04
14 Aug 2026Balanced skew
Call IV0.34
Put IV0.39
Skew0.05
21 Aug 2026Balanced skew
Call IV0.34
Put IV0.37
Skew0.03
28 Aug 2026Balanced skew
Call IV0.36
Put IV0.37
Skew0.01
4 Sep 2026Balanced skew
Call IV0.40
Put IV0.41
Skew0.01

Contract Tape

Most active contracts

Full contract tape
ContractCPB260807C00022000
SideCall
Expiry7 Aug 2026
Strike22.00
Volume485
OI606
IV0.33
ContractCPB260918C00024000
SideCall
Expiry18 Sep 2026
Strike24.00
Volume437
OI1371
IV0.38
ContractCPB260807C00022500
SideCall
Expiry7 Aug 2026
Strike22.50
Volume358
OI263
IV0.30
ContractCPB260821C00023500
SideCall
Expiry21 Aug 2026
Strike23.50
Volume343
OI231
IV0.34
ContractCPB260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume285
OI7830
IV0.37
ContractCPB270115C00030000
SideCall
Expiry15 Jan 2027
Strike30.00
Volume201
OI4265
IV0.37
ContractCPB260807C00023000
SideCall
Expiry7 Aug 2026
Strike23.00
Volume196
OI240
IV0.35
ContractCPB260807P00022000
SidePut
Expiry7 Aug 2026
Strike22.00
Volume170
OI305
IV0.33