Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
TPR options intelligence
Tapestry Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 31 Jul 2026
Checked 2 Aug 2026 16:49 · complete available chain
Options-market disagreement
Mixed pressure
TPR currently carries mixed options pressure with a 43/100 conviction score. The nearest-chain expected move is 4.3%, with volume/open-interest participation at 0.07.
Expected move
4.3%
Near-term move context
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
1.22
Balanced tape
Trend fit
92
Options agree with trend context
Weekly backdrop
+6.9%
RS 8.9
Expected move
4.3%
Put-call volume
1.22
Volume / OI
0.07
Reference IV
0.39
Max pain
141.00
Underlying
152.37
Nearest expiry
7 Aug 2026
Contracts
1194
Research Brief
TPR has a mixed chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 145.87–158.87; The largest call open-interest concentration is 150.00; the largest put concentration is 141.00. The most active strike by current volume is 152.50.
Priced range145.87–158.87
Call concentration150.00
Put concentration141.00
Max pain reference141.00
- 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 145.87 to 158.87. Max pain at 141.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
145.87152.37 ± 6.50158.87
Confirmation level
A close beyond 158.87 or below 145.87 at the 7 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 43/100
Pressure is 13/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure13 × 42%
+5.7
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
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.
Volatility44 × 10%
+4.4
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 141.00. The most active strike by current volume is 152.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
66
110.00-27.8%
5
16
115.00-24.5%
5
15
120.00-21.2%
0
3
130.00-14.7%
3
1
131.00-14.0%
0
0
132.00-13.4%
0
7
133.00-12.7%
0
0
134.00-12.1%
0
2
135.00-11.4%
0
200
140.00-8.1%
0
543
141.00-7.5%
0
1
145.00-4.8%
101
0
146.00-4.2%
0
0
150.00-1.6%
254
1
152.500.1%
6
0
155.001.7%
7
0
160.005.0%
204
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.39
7 Aug
7d
0.67
14 Aug
14d
0.59
21 Aug
21d
0.54
28 Aug
28d
0.51
4 Sep
35d
0.49
11 Sep
42d
0.47
18 Sep
49d
0.47
20 Nov
112d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
122
124
126
128
130
132
134
136
138
140
142
143
145
147
149
153
158
163
168
173
180
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
- 1194 / 1194
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $2.2M of estimated gross traded notional, calls · 0-7 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-13
1W price+6.9%
Call premium85%
Put premium15%
Notional split
C 85% / P 15%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.07
Volume divided by open interest across the visible chain.
Trend fit
92/100
Agreement between options pressure and Sharemaestro market context.
Event window
13 Aug
Matched earnings event is 10 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 · 0-7 days · ITM
calls cluster with 735 contracts traded, $1.5M estimated gross traded notional, and 69% of visible notional.
$1.5M
Calls · 46-90 days · ATM
calls cluster with 181 contracts traded, $170140 estimated gross traded notional, and 8% of visible notional.
$170140
Puts · 0-7 days · ATM
puts cluster with 403 contracts traded, $131982 estimated gross traded notional, and 6% of visible notional.
$131982
Puts · 91+ days · OTM
puts cluster with 149 contracts traded, $64565 estimated gross traded notional, and 3% of visible notional.
$64565
Puts · 8-21 days · OTM
puts cluster with 485 contracts traded, $59946 estimated gross traded notional, and 3% of visible notional.
$59946
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close152.37
1W+6.9%
RS8.9
Fair value+97.6%
Options pressure-13
Speculation42
Volatility44
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 10:14
Bullish
Pressure 35
Move 6.3%
30 Jul 10:11
Mixed
Pressure 18
Move 6.1%
30 Jul 14:50
Mixed
Pressure 6
Move 6.6%
31 Jul 11:41
Bullish
Pressure 71
Move 1.4%
31 Jul 20:29
Mixed
Pressure 3
Move 7.7%
1 Aug 08:03
Mixed
Pressure -13
Move 8.4%
2 Aug 15:49
Mixed
Pressure -13
Move 4.3%
Strike Map
Where activity is clustering
Strike75.00
Calls · V 0 · OI 4
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 4
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 1
Puts · V 0 · OI 5
Strike110.00
Calls · V 0 · OI 5
Puts · V 0 · OI 66
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts116
Avg IV0.39
Put-call0.93
Expiry14 Aug 2026
Contracts132
Avg IV0.67
Put-call0.72
Expiry21 Aug 2026
Contracts108
Avg IV0.59
Put-call12.76
Expiry28 Aug 2026
Contracts100
Avg IV0.54
Put-call1.14
Expiry4 Sep 2026
Contracts98
Avg IV0.51
Put-call-
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.38
Put IV0.40
Skew0.02
14 Aug 2026Put IV premium
Call IV0.66
Put IV0.76
Skew0.10
21 Aug 2026Balanced skew
Call IV0.58
Put IV0.60
Skew0.02
28 Aug 2026Balanced skew
Call IV0.52
Put IV0.57
Skew0.05
4 Sep 2026Balanced skew
Call IV0.48
Put IV0.50
Skew0.02
Contract Tape
Most active contracts
ContractTPR260821P00125000
SidePut
Expiry21 Aug 2026
Strike125.00
Volume466
OI686
IV0.68
ContractTPR260807P00152500
SidePut
Expiry7 Aug 2026
Strike152.50
Volume403
OI1
IV0.39
ContractTPR260807P00146000
SidePut
Expiry7 Aug 2026
Strike146.00
Volume314
OI-
IV0.41
ContractTPR260807C00131000
SideCall
Expiry7 Aug 2026
Strike131.00
Volume188
OI-
IV0.76
ContractTPR260807C00130000
SideCall
Expiry7 Aug 2026
Strike130.00
Volume186
OI3
IV0.77
ContractTPR260918C00155000
SideCall
Expiry18 Sep 2026
Strike155.00
Volume181
OI242
IV0.46
ContractTPR270617P00090000
SidePut
Expiry17 Jun 2027
Strike90.00
Volume131
OI-
IV0.54
ContractTPR260807C00135000
SideCall
Expiry7 Aug 2026
Strike135.00
Volume110
OI-
IV0.01
Research Graph
Related research and context
Sharemaestro research
Related News
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.