Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
KO options intelligence
The Coca-Cola Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
41
Market data through 31 Jul 2026
Checked 1 Aug 2026 23:55 · complete available chain
Call-side pressure
Bullish pressure
KO currently carries bullish options pressure with a 41/100 conviction score. The nearest-chain expected move is 2.4%, with volume/open-interest participation at 0.06.
Expected move
2.4%
Near-term move context
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.53
Call-side skew
Trend fit
62
Options agree with trend context
Weekly backdrop
+6.5%
RS 9.3
Expected move
2.4%
Put-call volume
0.53
Volume / OI
0.06
Reference IV
0.21
Max pain
85.00
Underlying
87.59
Nearest expiry
7 Aug 2026
Contracts
982
Research Brief
KO has a bullish chain read with 41/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 85.50–89.68; The largest call open-interest concentration is 92.00; the largest put concentration is 85.00. The most active strike by current volume is 91.00.
Priced range85.50–89.68
Call concentration92.00
Put concentration85.00
Max pain reference85.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 85.50 to 89.68. Max pain at 85.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
85.5087.59 ± 2.0989.68
Confirmation level
A close beyond 89.68 or below 85.50 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 41/100
Pressure is 33/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure33 × 42%
+13.7
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement62 × 26%
+16.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility25 × 10%
+2.5
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 92.00; the largest put concentration is 85.00. The most active strike by current volume is 91.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
319
76.00-13.2%
11
928
77.00-12.1%
23
312
78.00-10.9%
5
529
80.00-8.7%
35
230
81.00-7.5%
154
289
82.00-6.4%
2361
991
83.00-5.2%
1719
463
84.00-4.1%
535
1533
85.00-3.0%
1159
420
86.00-1.8%
472
795
87.00-0.7%
467
893
88.000.5%
936
672
89.001.6%
1008
440
90.002.8%
2550
134
91.003.9%
1407
30
92.005.0%
6090
16
94.007.3%
5480
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.
0.21
7 Aug
7d
0.22
14 Aug
14d
0.21
21 Aug
21d
0.21
28 Aug
28d
0.21
4 Sep
35d
0.20
11 Sep
42d
0.21
18 Sep
49d
0.21
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
71
73
74
75
77
79
80
81
83
85
86
87
89
91
92
93
95
97
98
99
101
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
- 982 / 982
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $6.6M of estimated gross traded notional, puts · 0-7 days · itm, 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+33
1W price+6.5%
Call premium62%
Put premium38%
Notional split
C 62% / P 38%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
62/100
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 · 0-7 days · ITM
puts cluster with 2385 contracts traded, $830551 estimated gross traded notional, and 13% of visible notional.
$830551
Puts · 91+ days · OTM
puts cluster with 4331 contracts traded, $724756 estimated gross traded notional, and 11% of visible notional.
$724756
Calls · 91+ days · ITM
calls cluster with 471 contracts traded, $707045 estimated gross traded notional, and 11% of visible notional.
$707045
Calls · 8-21 days · OTM
calls cluster with 8227 contracts traded, $698630 estimated gross traded notional, and 11% of visible notional.
$698630
Calls · 91+ days · OTM
calls cluster with 3577 contracts traded, $550708 estimated gross traded notional, and 8% of visible notional.
$550708
Setup Classification
Opportunity and risk frame
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close87.59
1W+6.5%
RS9.3
Fair value+34.5%
Options pressure33
Speculation41
Volatility25
Trend fit62
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 14:40
Mixed
Pressure 14
Move 10.3%
29 Jul 14:40
Mixed
Pressure 14
Move 10.3%
29 Jul 15:04
Volatility
Pressure 23
Move 10.4%
29 Jul 15:24
Bullish
Pressure 23
Move 10.0%
29 Jul 15:46
Bullish
Pressure 21
Move 10.2%
29 Jul 16:10
Bullish
Pressure 23
Move 10.2%
29 Jul 16:31
Volatility
Pressure 22
Move 10.1%
29 Jul 16:53
Bullish
Pressure 23
Move 9.6%
Strike Map
Where activity is clustering
Strike45.00
Calls · V 5 · OI 10
Puts · V 0 · OI 1
Strike50.00
Calls · V 0 · OI 6
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 9
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 4
Puts · V 0 · OI 9
Strike65.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike69.00
Calls · V 2 · OI 3
Puts · V 0 · OI 90
Strike70.00
Calls · V 0 · OI 8
Puts · V 0 · OI 70
Strike71.00
Calls · V 0 · OI 1
Puts · V 0 · OI 8
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts76
Avg IV0.21
Put-call0.89
Expiry14 Aug 2026
Contracts76
Avg IV0.22
Put-call0.47
Expiry21 Aug 2026
Contracts92
Avg IV0.21
Put-call0.12
Expiry28 Aug 2026
Contracts74
Avg IV0.21
Put-call0.21
Expiry4 Sep 2026
Contracts74
Avg IV0.21
Put-call1.36
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.23
Put IV0.22
Skew-0.01
14 Aug 2026Balanced skew
Call IV0.22
Put IV0.22
Skew-
21 Aug 2026Balanced skew
Call IV0.22
Put IV0.22
Skew-
28 Aug 2026Balanced skew
Call IV0.21
Put IV0.22
Skew0.01
4 Sep 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
Contract Tape
Most active contracts
ContractKO260821C00090000
SideCall
Expiry21 Aug 2026
Strike90.00
Volume6871
OI10030
IV0.22
ContractKO260807P00091000
SidePut
Expiry7 Aug 2026
Strike91.00
Volume2327
OI134
IV0.22
ContractKO270115P00072500
SidePut
Expiry15 Jan 2027
Strike72.50
Volume2220
OI2859
IV0.27
ContractKO270115C00105000
SideCall
Expiry15 Jan 2027
Strike105.00
Volume2040
OI1675
IV0.20
ContractKO260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume1338
OI12270
IV0.20
ContractKO260807C00091000
SideCall
Expiry7 Aug 2026
Strike91.00
Volume1202
OI1407
IV0.24
ContractKO260807C00089000
SideCall
Expiry7 Aug 2026
Strike89.00
Volume1190
OI1008
IV0.21
ContractKO260821C00089000
SideCall
Expiry21 Aug 2026
Strike89.00
Volume1017
OI2345
IV0.21
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.