Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
TXT options intelligence
Textron Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 12 Aug 2026
Checked 13 Aug 2026 11:40 · complete available chain
Call-side pressure
Bullish pressure
TXT currently carries bullish options pressure with a 40/100 conviction score. The nearest-chain expected move is 3.4%, with volume/open-interest participation at 0.01.
Expected move
3.4%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.10
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+4.9%
RS -9.8
Expected move
3.4%
Put-call volume
0.10
Volume / OI
0.01
Reference IV
0.27
Max pain
87.50
Underlying
89.43
Nearest expiry
21 Aug 2026
Contracts
236
Research Brief
TXT has a bullish chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 86.43–92.43; The largest call open-interest concentration is 105.00; the largest put concentration is 85.00. The most active strike by current volume is 87.50.
Priced range86.43–92.43
Call concentration105.00
Put concentration85.00
Max pain reference87.50
- 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 86.43 to 92.43. Max pain at 87.50 sits inside that range, 2.2% below spot.
Spot
Max pain
86.4389.43 ± 3.0092.43
Confirmation level
A close beyond 92.43 or below 86.43 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 40/100
Pressure is 87/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure87 × 42%
+36.6
How strongly activity leans toward calls or puts.
Participation3 × 22%
+0.6
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility33 × 10%
+3.3
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 105.00; the largest put concentration is 85.00. The most active strike by current volume is 87.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
24
55.00-38.5%
0
114
65.00-27.3%
0
74
70.00-21.7%
1
12
75.00-16.1%
27
38
77.50-13.3%
0
75
80.00-10.5%
53
125
82.50-7.7%
3
2404
85.00-5.0%
29
34
87.50-2.2%
67
72
90.000.6%
107
11
92.503.4%
99
79
95.006.2%
592
5
97.509.0%
502
0
100.0011.8%
569
0
105.0017.4%
1061
0
110.0023.0%
33
0
140.0056.5%
13
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile+$519,007Delta change / 1% move
Positive peak87.50+$1.2M
Negative peak85.00-$1.2M
Nearest balance86.26Interpolated sign change
StrikeNegativePositiveNet / 1% move
50.00-44.1%
+$3
55.00-38.5%
-$96
60.00-32.9%
-$57
65.00-27.3%
-$3,567
70.00-21.7%
-$1,353
75.00-16.1%
-$6,936
77.50-13.3%
-$1,448
80.00-10.5%
-$105,928
82.50-7.7%
-$51,462
85.00-5.0%
-$1.2M
87.50-2.2%
+$1.2M
90.000.6%
+$85,304
92.503.4%
+$76,097
95.006.2%
+$178,270
97.509.0%
+$111,292
100.0011.8%
+$112,678
105.0017.4%
+$67,772
110.0023.0%
+$25,029
115.0028.6%
+$46,229
120.0034.2%
+$384
125.0039.8%
+$290
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
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.27
21 Aug
9d
0.24
18 Sep
37d
0.28
20 Nov
100d
0.27
18 Dec
128d
0.28
19 Mar
219d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
75
78
80
83
85
88
90
93
95
98
100
105
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 236 / 236
- 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
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $15,062 of estimated gross traded notional, calls · 22-45 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+87
1W price+4.9%
Call premium86%
Put premium14%
Notional split
C 86% / P 14%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
Calls · 22-45 days · OTM
calls cluster with 121 contracts traded, $7,905 estimated gross traded notional, and 52% of visible notional.
$7,905
Calls · 91+ days · OTM
calls cluster with 14 contracts traded, $3,720 estimated gross traded notional, and 25% of visible notional.
$3,720
Puts · 91+ days · OTM
puts cluster with 3 contracts traded, $922 estimated gross traded notional, and 6% of visible notional.
$922
Calls · 8-21 days · ATM
calls cluster with 3 contracts traded, $668 estimated gross traded notional, and 4% of visible notional.
$668
Calls · 8-21 days · ITM
calls cluster with 1 contracts traded, $425 estimated gross traded notional, and 3% of visible notional.
$425
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 11 completed sessions
Volume rank18th
Volume/OI rank18th
IV rank36th
Market Context
Underlying confirmation
Close89.43
1W+4.9%
RS-9.8
Fair value+6.9%
Options pressure87
Speculation3
Volatility33
Trend fit0
Today Versus Normal
Stored-options context
30d avg 6.1% · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.28 · 11 sessions
36th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 2.74 · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.05 · 11 sessions
18th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:21
Bearish
Pressure -21
Move 7.0%
30 Jul 10:15
Bearish
Pressure -45
Move 9.9%
31 Jul 05:17
Mixed
Pressure -11
Move 9.2%
3 Aug 10:00
Mixed
Pressure -13
Move 5.5%
4 Aug 00:19
Mixed
Pressure 6
Move 5.0%
5 Aug 10:08
Bearish
Pressure -51
Move 7.0%
6 Aug 10:10
Bullish
Pressure 80
Move 6.3%
7 Aug 10:45
Bearish
Pressure -82
Move 5.7%
Strike Map
Where activity is clustering
Strike47.50
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 24
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 114
Strike70.00
Calls · V 0 · OI 1
Puts · V 0 · OI 74
Strike75.00
Calls · V 0 · OI 27
Puts · V 0 · OI 12
Strike77.50
Calls · V 0 · OI 0
Puts · V 0 · OI 38
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts50
Avg IV0.27
Put-call0.88
Expiry18 Sep 2026
Contracts46
Avg IV0.24
Put-call0.04
Expiry20 Nov 2026
Contracts52
Avg IV0.28
Put-call-
Expiry18 Dec 2026
Contracts44
Avg IV0.27
Put-call0.25
Expiry19 Mar 2027
Contracts44
Avg IV0.28
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.23
Put IV0.31
Skew0.08
18 Sep 2026Balanced skew
Call IV0.23
Put IV0.25
Skew0.02
20 Nov 2026Balanced skew
Call IV0.27
Put IV0.31
Skew0.04
18 Dec 2026Balanced skew
Call IV0.27
Put IV0.29
Skew0.02
19 Mar 2027Balanced skew
Call IV0.23
Put IV0.28
Skew0.05
Contract Tape
Most active contracts
ContractTXT260918C00095000
SideCall
Expiry18 Sep 2026
Strike95.00
Volume79
OI311
IV0.23
ContractTXT260918C00097500
SideCall
Expiry18 Sep 2026
Strike97.50
Volume40
OI133
IV0.25
ContractTXT261218C00095000
SideCall
Expiry18 Dec 2026
Strike95.00
Volume6
OI307
IV0.26
ContractTXT261218C00105000
SideCall
Expiry18 Dec 2026
Strike105.00
Volume5
OI183
IV0.26
ContractTXT260821P00085000
SidePut
Expiry21 Aug 2026
Strike85.00
Volume3
OI2404
IV0.31
ContractTXT260821C00087500
SideCall
Expiry21 Aug 2026
Strike87.50
Volume3
OI67
IV0.25
ContractTXT260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume2
OI592
IV0.18
ContractTXT260918P00080000
SidePut
Expiry18 Sep 2026
Strike80.00
Volume2
OI371
IV0.31
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
No upcoming matched earnings event.
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.