Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
PAYC options intelligence
Paycom Software, Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
39
Market data through 31 Jul 2026
Checked 2 Aug 2026 09:32 · complete available chain
Put-side pressure
Bearish pressure
PAYC currently carries bearish options pressure with a 39/100 conviction score. The nearest-chain expected move is 12.8%, with volume/open-interest participation at 0.02.
Expected move
12.8%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
1.50
Put-side skew
Trend fit
77
Options agree with trend context
Weekly backdrop
+12.8%
RS -5.5
Expected move
12.8%
Put-call volume
1.50
Volume / OI
0.02
Reference IV
0.67
Max pain
140.00
Underlying
163.96
Nearest expiry
21 Aug 2026
Contracts
532
Research Brief
PAYC has a bearish chain read with 39/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 142.96–184.96; The largest call open-interest concentration is 185.00; the largest put concentration is 120.00. The most active strike by current volume is 140.00.
Priced range142.96–184.96
Call concentration185.00
Put concentration120.00
Max pain reference140.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- 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 142.96 to 184.96. Max pain at 140.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
142.96163.96 ± 21.00184.96
Confirmation level
A close beyond 184.96 or below 142.96 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 39/100
Pressure is 22/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure22 × 42%
+9.2
How strongly activity leans toward calls or puts.
Participation6 × 22%
+1.3
Volume relative to existing open interest and contract-level activity.
Trend agreement77 × 26%
+20.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility87 × 10%
+8.7
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 185.00; the largest put concentration is 120.00. 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
179
70.00-57.3%
3
174
95.00-42.1%
0
271
100.00-39.0%
2
392
120.00-26.8%
78
219
130.00-20.7%
246
75
135.00-17.7%
84
305
140.00-14.6%
367
78
145.00-11.6%
60
119
150.00-8.5%
158
97
155.00-5.5%
66
180
160.00-2.4%
267
53
165.000.6%
422
163
170.003.7%
127
5
175.006.7%
181
3
180.009.8%
149
4
185.0012.8%
653
0
220.0034.2%
223
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.67
21 Aug
21d
0.56
18 Sep
49d
0.56
20 Nov
112d
0.54
18 Dec
140d
0.53
15 Jan
168d
0.54
19 Feb
203d
0.51
17 Dec
504d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
135
140
145
150
155
160
165
170
175
180
185
190
195
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
- 532 / 532
- 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
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Put-side pressure is building while price is rising, a cautionary divergence.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $321486 of estimated gross traded notional, calls · 91+ days · itm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-22
1W price+12.8%
Call premium74%
Put premium26%
Notional split
C 74% / P 26%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
77/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 91+ days · ITM
calls cluster with 15 contracts traded, $107640 estimated gross traded notional, and 33% of visible notional.
$107640
Calls · 91+ days · ATM
calls cluster with 21 contracts traded, $55545 estimated gross traded notional, and 17% of visible notional.
$55545
Calls · 91+ days · OTM
calls cluster with 45 contracts traded, $49132 estimated gross traded notional, and 15% of visible notional.
$49132
Puts · 91+ days · ATM
puts cluster with 20 contracts traded, $44900 estimated gross traded notional, and 14% of visible notional.
$44900
Puts · 91+ days · OTM
puts cluster with 113 contracts traded, $31988 estimated gross traded notional, and 10% of visible notional.
$31988
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
Close163.96
1W+12.8%
RS-5.5
Fair value-12.5%
Options pressure-22
Speculation6
Volatility87
Trend fit77
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 10:35
Volatility
Pressure 66
Move 17.1%
30 Jul 10:33
Mixed
Pressure 9
Move 20.8%
30 Jul 23:25
Volatility
Pressure -29
Move 16.9%
31 Jul 04:56
Mixed
Pressure -6
Move 16.9%
2 Aug 08:32
Bearish
Pressure -22
Move 12.8%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 2
Puts · V 0 · OI 12
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike70.00
Calls · V 0 · OI 3
Puts · V 0 · OI 179
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike80.00
Calls · V 0 · OI 1
Puts · V 0 · OI 10
Strike85.00
Calls · V 0 · OI 2
Puts · V 0 · OI 88
Strike90.00
Calls · V 0 · OI 1
Puts · V 0 · OI 39
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 174
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts66
Avg IV0.67
Put-call1.24
Expiry18 Sep 2026
Contracts52
Avg IV0.56
Put-call-
Expiry20 Nov 2026
Contracts68
Avg IV0.56
Put-call1.00
Expiry18 Dec 2026
Contracts96
Avg IV0.54
Put-call-
Expiry15 Jan 2027
Contracts96
Avg IV0.53
Put-call2.98
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.67
Put IV0.68
Skew0.01
18 Sep 2026Balanced skew
Call IV0.55
Put IV0.58
Skew0.03
20 Nov 2026Balanced skew
Call IV0.56
Put IV0.57
Skew0.01
18 Dec 2026Balanced skew
Call IV0.52
Put IV0.56
Skew0.04
15 Jan 2027Balanced skew
Call IV0.51
Put IV0.55
Skew0.04
Contract Tape
Most active contracts
ContractPAYC270115P00100000
SidePut
Expiry15 Jan 2027
Strike100.00
Volume105
OI156
IV0.61
ContractPAYC260821P00140000
SidePut
Expiry21 Aug 2026
Strike140.00
Volume24
OI305
IV0.64
ContractPAYC270115C00200000
SideCall
Expiry15 Jan 2027
Strike200.00
Volume23
OI104
IV0.53
ContractPAYC270115C00160000
SideCall
Expiry15 Jan 2027
Strike160.00
Volume21
OI81
IV0.53
ContractPAYC270115P00165000
SidePut
Expiry15 Jan 2027
Strike165.00
Volume20
OI86
IV0.53
ContractPAYC271217C00310000
SideCall
Expiry17 Dec 2027
Strike310.00
Volume19
OI-
IV0.48
ContractPAYC271217C00100000
SideCall
Expiry17 Dec 2027
Strike100.00
Volume13
OI94
IV0.53
ContractPAYC260821C00165000
SideCall
Expiry21 Aug 2026
Strike165.00
Volume8
OI422
IV0.68
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.