Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
STLA options intelligence
Stellantis NV options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 11 Aug 2026
Checked 11 Aug 2026 15:51 · complete available chain
Put-side pressure
Bearish pressure
STLA currently carries bearish options pressure with a 49/100 conviction score. The nearest-chain expected move is 3.2%, with volume/open-interest participation at 0.03.
Expected move
3.2%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
2.02
Put-side skew
Trend fit
85
Options agree with trend context
Weekly backdrop
-4.2%
RS -43.1
Expected move
3.2%
Put-call volume
2.02
Volume / OI
0.03
Reference IV
0.86
Max pain
5.50
Underlying
5.52
Nearest expiry
14 Aug 2026
Contracts
316
Research Brief
STLA has a bearish chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 5.34–5.70; The largest call open-interest concentration is 5.50; the largest put concentration is 5.50. The most active strike by current volume is 5.50.
Priced range5.34–5.70
Call concentration5.50
Put concentration5.50
Max pain reference5.50
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- Price recovers while put pressure fades or reverses toward calls.
- Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.
Priced Move
Where the chain says movement becomes exceptional
Options imply 5.34 to 5.70. Max pain at 5.50 sits inside that range, 0.4% below spot.
Spot
Max pain
5.345.52 ± 0.185.70
Confirmation level
A close beyond 5.70 or below 5.34 at the 14 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 49/100
Pressure is 27/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure27 × 42%
+11.4
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement85 × 26%
+22.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility69 × 10%
+6.9
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 5.50; the largest put concentration is 5.50. The most active strike by current volume is 5.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
53
2.00-63.8%
148
37
2.50-54.7%
102
24
3.00-45.7%
8
6
3.50-36.6%
4
6
4.00-27.5%
3
32
4.50-18.5%
4
124
5.00-9.4%
299
2042
5.50-0.4%
2927
18
6.008.7%
1023
3
6.5017.8%
740
0
7.0026.8%
50
17
7.5035.9%
0
0
8.5054.0%
76
19
10.0081.2%
3
9
10.5090.2%
1
6
11.0099.3%
0
28
11.50108.3%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$292,269Delta change / 1% move
Positive peak10.00+$142,533
Negative peak5.00-$76,676
Nearest balance5.67Interpolated sign change
StrikeNegativePositiveNet / 1% move
1.00-81.9%
+$2
1.50-72.8%
+$208
2.00-63.8%
+$416
2.50-54.7%
+$488
3.00-45.7%
-$1,670
3.50-36.6%
+$92
4.00-27.5%
-$11,269
4.50-18.5%
-$530
5.00-9.4%
-$76,676
5.50-0.4%
-$34,242
6.008.7%
+$66,893
6.5017.8%
+$11,716
7.0026.8%
+$93,127
7.5035.9%
+$214
8.0044.9%
+$33,889
8.5054.0%
+$277
9.0063.0%
+$7,564
9.5072.1%
-$254
10.0081.2%
+$142,533
10.5090.2%
-$177
11.0099.3%
+$2,996
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
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.86
14 Aug
3d
0.60
21 Aug
10d
0.70
28 Aug
17d
0.71
4 Sep
24d
0.74
11 Sep
31d
0.58
18 Sep
38d
2.14
25 Sep
45d
0.55
18 Dec
129d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
5
5
6
6
7
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 5 stored directional transitions, the next stored price moved in the labelled direction 40% of the time.
Directional follow-through40%
Moves contained by pricing100%
Average expiry move3.7%
6 Aug
Mixed · 39
-4.2% through expiry
7.6% priced · v2.0
5 Aug
Bullish · 38
-4.2% through expiry
6.7% priced · v2.0
4 Aug
Bullish · 39
-4.2% through expiry
4.3% priced · v2.0
3 Aug
Bullish · 40
-4.2% through expiry
7.4% priced · v2.0
31 Jul
Bearish · 45
-4.2% through expiry
6.5% priced · v2.0
30 Jul
Bullish · 37
1.2% through expiry
6.0% 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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 316 / 316
- 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: $2.1M of estimated gross traded notional, puts · 91+ 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-27
1W price-4.2%
Call premium13%
Put premium87%
Notional split
C 13% / P 87%
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
85/100
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 · 91+ days · ITM
puts cluster with 1802 contracts traded, $1.0M estimated gross traded notional, and 48% of visible notional.
$1.0M
Puts · 22-45 days · ITM
puts cluster with 1714 contracts traded, $635,592 estimated gross traded notional, and 30% of visible notional.
$635,592
Calls · 22-45 days · ITM
calls cluster with 349 contracts traded, $123,635 estimated gross traded notional, and 6% of visible notional.
$123,635
Puts · 8-21 days · ITM
puts cluster with 281 contracts traded, $112,162 estimated gross traded notional, and 5% of visible notional.
$112,162
Calls · 91+ days · OTM
calls cluster with 2016 contracts traded, $61,645 estimated gross traded notional, and 3% of visible notional.
$61,645
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Underlying price is close to the max-pain zone.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Above normal
Activity is running above the recent historical baseline.
Baseline: 10 completed sessions
Volume rank80th
Volume/OI rank80th
IV rank60th
Market Context
Underlying confirmation
Close5.52
1W-4.2%
RS-43.1
Fair value-55.4%
Options pressure-27
Speculation41
Volatility69
Trend fit85
Today Versus Normal
Stored-options context
30d avg 6.5% · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.83 · 10 sessions
60th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.71 · 10 sessions
100th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.03 · 10 sessions
80th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:16
Volatility
Pressure 67
Move 7.9%
30 Jul 10:50
Bullish
Pressure 57
Move 10.5%
31 Jul 11:43
Bullish
Pressure 35
Move 6.0%
2 Aug 04:38
Bearish
Pressure -20
Move 6.5%
4 Aug 10:03
Bullish
Pressure 47
Move 7.4%
5 Aug 10:11
Bullish
Pressure 49
Move 4.3%
6 Aug 10:12
Bullish
Pressure 35
Move 6.7%
7 Aug 10:47
Mixed
Pressure -11
Move 7.6%
Strike Map
Where activity is clustering
Strike2.00
Calls · V 6 · OI 148
Puts · V 32 · OI 53
Strike2.50
Calls · V 1 · OI 102
Puts · V 11 · OI 37
Strike3.00
Calls · V 3 · OI 8
Puts · V 8 · OI 24
Strike3.50
Calls · V 4 · OI 4
Puts · V 10 · OI 6
Strike4.00
Calls · V 4 · OI 3
Puts · V 30 · OI 6
Strike4.50
Calls · V 2 · OI 4
Puts · V 32 · OI 32
Strike5.00
Calls · V 40 · OI 299
Puts · V 2 · OI 124
Strike5.50
Calls · V 8 · OI 2927
Puts · V 1665 · OI 2042
Term Structure
Expiration activity
Expiry14 Aug 2026
Contracts35
Avg IV0.86
Put-call11.46
Expiry21 Aug 2026
Contracts32
Avg IV0.60
Put-call0.27
Expiry28 Aug 2026
Contracts32
Avg IV0.70
Put-call0.85
Expiry4 Sep 2026
Contracts27
Avg IV0.71
Put-call4.81
Expiry11 Sep 2026
Contracts22
Avg IV0.74
Put-call1.35
Skew
Call/put IV balance
14 Aug 2026Put IV premium
Call IV0.69
Put IV1.31
Skew0.63
21 Aug 2026Put IV premium
Call IV0.52
Put IV0.59
Skew0.07
28 Aug 2026Balanced skew
Call IV0.55
Put IV0.55
Skew-
4 Sep 2026Balanced skew
Call IV0.56
Put IV0.52
Skew-0.04
11 Sep 2026Balanced skew
Call IV0.86
Put IV0.88
Skew0.02
Contract Tape
Most active contracts
ContractSTLA260911C00006500
SideCall
Expiry11 Sep 2026
Strike6.50
Volume-
OI154
IV0.48
ContractSTLA270319P00003000
SidePut
Expiry19 Mar 2027
Strike3.00
Volume-
OI20
IV0.67
ContractSTLA260911C00007000
SideCall
Expiry11 Sep 2026
Strike7.00
Volume-
OI9
IV0.61
ContractSTLA260904C00007500
SideCall
Expiry4 Sep 2026
Strike7.50
Volume-
OI7
IV1.63
ContractSTLA260904P00007000
SidePut
Expiry4 Sep 2026
Strike7.00
Volume-
OI4
IV1.13
ContractSTLA260904C00007000
SideCall
Expiry4 Sep 2026
Strike7.00
Volume-
OI3
IV1.45
ContractSTLA260911P00010000
SidePut
Expiry11 Sep 2026
Strike10.00
Volume-
OI3
IV2.39
ContractSTLA260925P00007000
SidePut
Expiry25 Sep 2026
Strike7.00
Volume-
OI3
IV1.09
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.