Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
AZZ options intelligence
AZZ Incorporated options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
46
Market data through 31 Jul 2026
Checked 1 Aug 2026 11:46 · complete available chain
Options-market disagreement
Mixed pressure
AZZ currently carries mixed options pressure with a 46/100 conviction score. The nearest-chain expected move is 8.4%, with volume/open-interest participation at 0.37.
Expected move
8.4%
Wider near-term move priced
Activity / OI
0.37
Current volume is quieter versus prior open interest
Put-call
1.47
Put-side skew
Trend fit
92
Options agree with trend context
Weekly backdrop
+1.8%
RS 12.8
Expected move
8.4%
Put-call volume
1.47
Volume / OI
0.37
Reference IV
0.44
Max pain
140.00
Underlying
149.90
Nearest expiry
21 Aug 2026
Contracts
288
Research Brief
AZZ has a mixed chain read with 46/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 137.38–162.42; The largest call open-interest concentration is 150.00; the largest put concentration is 115.00. The most active strike by current volume is 140.00.
Priced range137.38–162.42
Call concentration150.00
Put concentration115.00
Max pain reference140.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 137.38 to 162.42. Max pain at 140.00 sits inside that range, 6.6% below spot.
Spot
Max pain
137.38149.90 ± 12.52162.42
Confirmation level
A close beyond 162.42 or below 137.38 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 46/100
Pressure is 12/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure12 × 42%
+4.9
How strongly activity leans toward calls or puts.
Participation48 × 22%
+10.7
Volume relative to existing open interest and contract-level activity.
Trend agreement92 × 26%
+23.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility64 × 10%
+6.4
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 150.00; the largest put concentration is 115.00. The most active strike by current volume is 140.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
55.00-63.3%
0
7
90.00-40.0%
0
21
95.00-36.6%
0
28
115.00-23.3%
1
3
120.00-19.9%
0
24
125.00-16.6%
1
6
130.00-13.3%
4
11
135.00-9.9%
12
17
140.00-6.6%
67
9
145.00-3.3%
52
2
150.000.1%
118
4
155.003.4%
37
2
160.006.7%
23
1
165.0010.1%
3
0
170.0013.4%
33
0
175.0016.7%
2
0
180.0020.1%
31
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.
0.44
21 Aug
21d
0.40
18 Sep
49d
0.44
16 Oct
77d
0.44
20 Nov
112d
0.42
19 Feb
203d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
120
125
130
135
140
145
150
155
160
165
170
175
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
- 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
- 288 / 288
- 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
Directional flow, confirmation needed
There is useful activity, but aggregate chain data does not isolate participant intent.
The options read is mixed, so divergence is not strong enough to classify.
Directional flow, confirmation needed matters because it connects the options headline to the actual evidence: $489280 of estimated gross traded notional, puts · 46-90 days · otm, 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-12
1W price+1.8%
Call premium52%
Put premium48%
Notional split
C 52% / P 48%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.37
Volume divided by open interest across the visible chain.
Trend fit
92/100
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 · 46-90 days · OTM
puts cluster with 326 contracts traded, $170610 estimated gross traded notional, and 35% of visible notional.
$170610
Calls · 46-90 days · ITM
calls cluster with 125 contracts traded, $111875 estimated gross traded notional, and 23% of visible notional.
$111875
Calls · 91+ days · ITM
calls cluster with 68 contracts traded, $103670 estimated gross traded notional, and 21% of visible notional.
$103670
Puts · 46-90 days · ATM
puts cluster with 61 contracts traded, $62830 estimated gross traded notional, and 13% of visible notional.
$62830
Calls · 46-90 days · OTM
calls cluster with 64 contracts traded, $31040 estimated gross traded notional, and 6% of visible notional.
$31040
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close149.90
1W+1.8%
RS12.8
Fair value+65.2%
Options pressure-12
Speculation48
Volatility64
Trend fit92
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 10:44
Bullish
Pressure 100
Move 8.7%
30 Jul 10:40
Volatility
Pressure 75
Move 9.9%
31 Jul 13:17
Bullish
Pressure 100
Move 8.8%
1 Aug 10:46
Mixed
Pressure -12
Move 8.4%
Strike Map
Where activity is clustering
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 1
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 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 7
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts60
Avg IV0.44
Put-call-
Expiry18 Sep 2026
Contracts46
Avg IV0.40
Put-call2.05
Expiry16 Oct 2026
Contracts62
Avg IV0.44
Put-call-
Expiry20 Nov 2026
Contracts60
Avg IV0.44
Put-call-
Expiry19 Feb 2027
Contracts60
Avg IV0.42
Put-call0.50
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.46
Put IV0.50
Skew0.04
18 Sep 2026Put IV premium
Call IV0.41
Put IV0.47
Skew0.06
16 Oct 2026Put IV premium
Call IV0.41
Put IV0.46
Skew0.06
20 Nov 2026Put IV premium
Call IV0.41
Put IV0.48
Skew0.08
19 Feb 2027Put IV premium
Call IV0.39
Put IV0.46
Skew0.08
Contract Tape
Most active contracts
ContractAZZ260918P00135000
SidePut
Expiry18 Sep 2026
Strike135.00
Volume201
OI1
IV0.44
ContractAZZ260918P00140000
SidePut
Expiry18 Sep 2026
Strike140.00
Volume125
OI-
IV0.40
ContractAZZ260918C00145000
SideCall
Expiry18 Sep 2026
Strike145.00
Volume125
OI-
IV0.41
ContractAZZ260918C00155000
SideCall
Expiry18 Sep 2026
Strike155.00
Volume64
OI5
IV0.41
ContractAZZ261120C00145000
SideCall
Expiry20 Nov 2026
Strike145.00
Volume62
OI188
IV0.44
ContractAZZ260918P00150000
SidePut
Expiry18 Sep 2026
Strike150.00
Volume61
OI-
IV0.37
ContractAZZ260821C00140000
SideCall
Expiry21 Aug 2026
Strike140.00
Volume9
OI67
IV0.51
ContractAZZ270219C00145000
SideCall
Expiry19 Feb 2027
Strike145.00
Volume6
OI-
IV0.43
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
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.