Ticker Options Intelligence

HWM options intelligence

Name: Sharemaestro HWM Options Intent Radar
Creator: Sharemaestro
License: https://sharemaestro.com/data-license/

Howmet Aerospace Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 29 Market data through 17 Sep 2026 Checked 18 Sep 2026 13:06 · complete available chain

Options-market disagreement

Mixed pressure

HWM currently carries mixed options pressure with a 29/100 conviction score. The nearest-chain expected move is 2.3%, with volume/open-interest participation at 0.04.

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

Primary read Mixed

Options-market disagreement

Expected move 2.3%

Near-term move context

Activity / OI 0.04

Current volume is quieter versus prior open interest

Put-call 0.96

Balanced tape

Trend fit 61

Options agree with trend context

Weekly backdrop -11.4%

RS -10.5

Expected move 2.3%

Put-call volume 0.96

Volume / OI 0.04

Reference IV 0.41

Max pain 235.00

Underlying 229.61

Nearest expiry 18 Sep 2026

Contracts 1418

Research Brief

HWM has a mixed chain read with 29/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 224.26–234.96; The largest call open-interest concentration is 350.00; the largest put concentration is 230.00. The most active strike by current volume is 250.00.

Priced range224.26–234.96

Call concentration350.00

Put concentration230.00

Max pain reference235.00

What would confirm it

A clear directional pressure reading develops and price begins to agree.
The current chain read already agrees with the stored weekly trend context.

What would weaken it

Volatility falls and the chain remains directionally mixed.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 18 Sep

Options imply 224.26 to 234.96. Max pain at 235.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain

224.26229.61 ± 5.35234.96

Confirmation level

A close beyond 234.96 or below 224.26 at the 18 Sep 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 29/100

Evidence alignment, not probability

Pressure is 1/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure1 × 42%

+0.5

How strongly activity leans toward calls or puts.

Participation41 × 22%

+9.0

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

Trend agreement61 × 26%

+15.8

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

Volatility38 × 10%

+3.8

The intensity of implied volatility and the priced move.

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 350.00; the largest put concentration is 230.00. The most active strike by current volume is 250.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest

253

210.00-8.5%

836

220.00-4.2%

156

225.00-2.0%

2918

230.000.2%

297

209

235.002.3%

221

410

240.004.5%

414

245.006.7%

651

250.008.9%

342

260.0013.2%

1921

262.5014.3%

324

425

270.0017.6%

791

280.0021.9%

1111

300.0030.7%

569

310.0035.0%

285

320.0039.4%

374

340.0048.1%

343

350.0052.4%

2333

Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Negative gamma proxy

Reported Greeks · 98% coverage

Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile-$28.6MDelta change / 1% move

Positive peak250.00+$347,166

Negative peak220.00-$10.8M

Nearest balance227.55Interpolated sign change

StrikeNegativePositiveNet / 1% move

205.00-10.7%

-$15,805

207.50-9.6%

-$359

210.00-8.5%

-$6,284

212.50-7.5%

-$1,974

215.00-6.4%

-$3.6M

217.50-5.3%

-$69,830

220.00-4.2%

-$10.8M

222.50-3.1%

-$134,160

225.00-2.0%

-$736,171

227.50-0.9%

+$159,891

230.000.2%

-$8.2M

232.501.3%

+$51,837

235.002.3%

-$86,488

237.503.4%

+$952

240.004.5%

-$3.5M

242.505.6%

+$8,380

245.006.7%

-$1.3M

247.507.8%

+$6,253

250.008.9%

+$347,166

252.5010.0%

+$8,216

255.0011.1%

-$465,876

Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike

Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.

Volatility Curve

Balanced volatility curve

0.99× front/back

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

0.41 18 Sep 1d

0.34 25 Sep 8d

0.34 2 Oct 15d

0.35 9 Oct 22d

0.34 16 Oct 29d

0.36 23 Oct 36d

0.38 30 Oct 43d

0.40 20 Nov 64d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

185

195

200

210

213

218

220

225

228

233

238

240

245

248

253

255

260

263

268

270

275

Put IV Call IV

Historical Replay

How matured reads behaved through expiry

28 matured · 20 directional

Across 20 stored directional transitions, the next stored price moved in the labelled direction 30% of the time.

Directional follow-through30%

Moves contained by pricing57%

Average expiry move3.5%

9 Sep Bullish · 47 -11.4% through expiry 10.7% priced · v2.0

8 Sep Bullish · 47 -11.4% through expiry 9.9% priced · v2.0

4 Sep Bullish · 42 -11.4% through expiry 3.1% priced · v2.0

3 Sep Bullish · 41 -2.1% through expiry 2.4% priced · v2.0

2 Sep Bearish · 45 -2.1% through expiry 4.7% priced · v2.0

1 Sep Bearish · 52 -2.1% through expiry 4.3% priced · v2.0

28 Aug Bullish · 40 -2.1% through expiry 3.3% priced · v2.0

27 Aug Mixed · 43 -2.5% through expiry 2.2% priced · v2.0

26 Aug Bullish · 46 -2.5% through expiry 2.3% priced · v2.0

25 Aug Bullish · 49 -2.5% through expiry 3.5% priced · v2.0

24 Aug Mixed · 43 -2.5% through expiry 4.2% priced · v2.0

21 Aug Bearish · 47 -2.5% through expiry 3.4% priced · v2.0

Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

Usable with limits

C69/100

Retained chain100%

Implied volatility100%

Two-sided quotes100%

Open interest100%

Chain status: Complete available chain
Market date: 17 Sep 2026
Calculation: v2.0
Contracts: 1418 / 1418

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

70/100

Primary intent Multi-expiry position-maintenance candidate

Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.

Flow vs price divergence No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $4.9M of estimated gross traded notional, calls · 91+ days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-1

1W price-11.4%

Call premium46%

Put premium54%

Notional split C 46% / P 54% 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 61/100 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.

Conviction clusters Calls · 91+ days · ITM

Calls · 91+ days · ITM calls cluster with 183 contracts traded, $1.1M estimated gross traded notional, and 23% of visible notional.

$1.1M

Puts · 22-45 days · ITM puts cluster with 168 contracts traded, $917,950 estimated gross traded notional, and 19% of visible notional.

$917,950

Puts · 0-7 days · ITM puts cluster with 241 contracts traded, $647,415 estimated gross traded notional, and 13% of visible notional.

$647,415

Calls · 91+ days · OTM calls cluster with 314 contracts traded, $464,575 estimated gross traded notional, and 9% of visible notional.

$464,575

Puts · 91+ days · OTM puts cluster with 363 contracts traded, $360,860 estimated gross traded notional, and 7% of visible notional.

$360,860

Setup Classification

Opportunity and risk frame

Context, not advice

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Activity Anomaly

Normal range

Activity is broadly in line with recent stored snapshots.

Baseline: 33 completed sessions

Volume rank45th

Volume/OI rank27th

IV rank64th

Market Context

Underlying confirmation

Sharemaestro weekly

Close229.61

1W-11.4%

RS-10.5

Fair value+55.5%

Options pressure-1

Speculation41

Volatility38

Trend fit61

Today Versus Normal

Stored-options context

View history

Expected move 2.3% muted

30d avg 4.2% · 18 sessions 17th

90d avg 4.1% · 33 sessions 18th

180d avg - · 33/60 sessions -

IV 0.41 near normal

30d avg 0.36 · 18 sessions 72th

90d avg 0.41 · 33 sessions 64th

180d avg - · 33/60 sessions -

Put-call 0.96 near normal

30d avg 1.00 · 18 sessions 56th

90d avg 1.25 · 33 sessions 55th

180d avg - · 33/60 sessions -

Volume/OI 0.04 muted

30d avg 0.11 · 18 sessions 17th

90d avg 0.10 · 33 sessions 27th

180d avg - · 33/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail

11 Aug 10:20 Bullish

Pressure 29

Move 3.1%

12 Aug 10:21 Bearish

Pressure -34

Move 2.6%

13 Aug 10:01 Bearish

Pressure -69

Move 2.1%

14 Aug 10:01 Bullish

Pressure 38

Move 1.2%

17 Aug 10:02 Bearish

Pressure -30

Move 2.7%

18 Aug 10:05 Mixed

Pressure -16

Move 2.6%

19 Aug 10:04 Bullish

Pressure 42

Move 2.2%

19 Aug 20:58 Mixed

Pressure 15

Move 2.9%

Strike Map

Where activity is clustering

Full strike map

Strike90.00

Calls · V 0 · OI 1

Puts · V 0 · OI 0

Strike95.00

Calls · V 0 · OI 0

Puts · V 0 · OI 0

Strike100.00

Calls · V 0 · OI 0

Puts · V 0 · OI 0

Strike105.00

Calls · V 0 · OI 0

Puts · V 0 · OI 0

Strike110.00

Calls · V 0 · OI 0

Puts · V 0 · OI 8

Strike115.00

Calls · V 0 · OI 0

Puts · V 0 · OI 0

Strike120.00

Calls · V 0 · OI 20

Puts · V 0 · OI 0

Strike125.00

Calls · V 0 · OI 0

Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV

Expiry18 Sep 2026

Contracts148

Avg IV0.41

Put-call2.85

Expiry25 Sep 2026

Contracts110

Avg IV0.34

Put-call0.26

Expiry2 Oct 2026

Contracts108

Avg IV0.34

Put-call0.13

Expiry9 Oct 2026

Contracts88

Avg IV0.35

Put-call0.38

Expiry16 Oct 2026

Contracts74

Avg IV0.34

Put-call1.66

Skew

Call/put IV balance

OTM demand

18 Sep 2026Balanced skew

Call IV0.43

Put IV0.43

Skew-

25 Sep 2026Put IV premium

Call IV0.31

Put IV0.39

Skew0.08

2 Oct 2026Balanced skew

Call IV0.35

Put IV0.38

Skew0.03

9 Oct 2026Balanced skew

Call IV0.33

Put IV0.37

Skew0.04

16 Oct 2026Balanced skew

Call IV0.32

Put IV0.34

Skew0.02

Contract Tape

Most active contracts

Full contract tape

ContractHWM260918P00250000

SidePut

Expiry18 Sep 2026

Strike250.00

Volume145

OI34

IV0.94

ContractHWM261016P00280000

SidePut

Expiry16 Oct 2026

Strike280.00

Volume138

OI32

IV0.48

ContractHWM261016P00220000

SidePut

Expiry16 Oct 2026

Strike220.00

Volume113

OI8683

IV0.33

ContractHWM261016C00240000

SideCall

Expiry16 Oct 2026

Strike240.00

Volume104

OI604

IV0.32

ContractHWM270319C00270000

SideCall

Expiry19 Mar 2027

Strike270.00

Volume103

OI415

IV0.40

ContractHWM270319P00200000

SidePut

Expiry19 Mar 2027

Strike200.00

Volume102

OI397

IV0.41

ContractHWM270319P00230000

SidePut

Expiry19 Mar 2027

Strike230.00

Volume100

OI80

IV0.41

ContractHWM280121C00210000

SideCall

Expiry21 Jan 2028

Strike210.00

Volume86

OI751

IV0.43

HWM options intelligence

Mixed pressure

HWM has a mixed chain read with 29/100 evidence alignment.

Where the chain says movement becomes exceptional

Why conviction is 29/100

Where open interest and current activity concentrate

Negative gamma proxy

Balanced volatility curve

Upside optionality premium

How matured reads behaved through expiry

Usable with limits

Multi-expiry position-maintenance candidate

Opportunity and risk frame

Normal range

Underlying confirmation

Stored-options context

Recent pressure and volatility

Where activity is clustering

Expiration activity

Call/put IV balance

Most active contracts

Send a message

Evidence context

HWM options intelligence

Mixed pressure

HWM has a mixed chain read with 29/100 evidence alignment.

Where the chain says movement becomes exceptional

Why conviction is 29/100

Where open interest and current activity concentrate

Negative gamma proxy

Balanced volatility curve

Upside optionality premium

How matured reads behaved through expiry

Usable with limits

Multi-expiry position-maintenance candidate

Opportunity and risk frame

Normal range

Underlying confirmation

Stored-options context

Recent pressure and volatility

Where activity is clustering

Expiration activity

Call/put IV balance

Most active contracts

Related research and context

Sharemaestro research

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