Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
FDS options intelligence
FactSet Research Systems Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 30 Jul 2026
Checked 31 Jul 2026 12:21 · complete available chain
Options-market disagreement
Mixed pressure
FDS currently carries mixed options pressure with a 42/100 conviction score. The nearest-chain expected move is 10.8%, with volume/open-interest participation at 0.01.
Expected move
10.8%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
1.10
Balanced tape
Trend fit
82
Options agree with trend context
Weekly backdrop
+3.5%
RS -8.7
Expected move
10.8%
Put-call volume
1.10
Volume / OI
0.01
Reference IV
0.51
Max pain
260.00
Underlying
254.36
Nearest expiry
21 Aug 2026
Contracts
614
Research Brief
FDS has a mixed chain read with 42/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 226.96–281.76; The largest call open-interest concentration is 260.00; the largest put concentration is 270.00. The most active strike by current volume is 250.00.
Priced range226.96–281.76
Call concentration260.00
Put concentration270.00
Max pain reference260.00
- 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 226.96 to 281.76. Max pain at 260.00 sits inside that range, 2.2% above spot.
Spot
Max pain
226.96254.36 ± 27.40281.76
Confirmation level
A close beyond 281.76 or below 226.96 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 42/100
Pressure is 10/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure10 × 42%
+4.2
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement82 × 26%
+21.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility75 × 10%
+7.5
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 260.00; the largest put concentration is 270.00. The most active strike by current volume is 250.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
121
180.00-29.2%
0
55
195.00-23.3%
0
19
200.00-21.4%
2
111
210.00-17.4%
4
128
220.00-13.5%
3
159
230.00-9.6%
120
94
240.00-5.6%
38
33
250.00-1.7%
28
104
260.002.2%
585
234
270.006.1%
166
34
280.0010.1%
91
1
290.0014.0%
179
2
300.0017.9%
190
0
310.0021.9%
95
1
320.0025.8%
88
0
330.0029.7%
189
0
340.0033.7%
102
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.
0.51
21 Aug
22d
0.52
18 Sep
50d
0.53
16 Oct
78d
0.53
20 Nov
113d
0.53
18 Dec
141d
0.52
15 Jan
169d
0.51
19 Feb
204d
0.51
19 Mar
232d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
210
220
230
240
250
260
270
280
290
300
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 614 / 614
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
The options read is mixed, so divergence is not strong enough to classify.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $130236 of estimated gross traded notional, calls · 8-21 days · atm, 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-10
1W price+3.5%
Call premium58%
Put premium42%
Notional split
C 58% / P 42%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
82/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 8-21 days · ATM
calls cluster with 14 contracts traded, $23450 estimated gross traded notional, and 18% of visible notional.
$23450
Calls · 46-90 days · OTM
calls cluster with 28 contracts traded, $19704 estimated gross traded notional, and 15% of visible notional.
$19704
Puts · 8-21 days · ITM
puts cluster with 9 contracts traded, $19140 estimated gross traded notional, and 15% of visible notional.
$19140
Puts · 46-90 days · OTM
puts cluster with 29 contracts traded, $16452 estimated gross traded notional, and 13% of visible notional.
$16452
Calls · 46-90 days · ATM
calls cluster with 5 contracts traded, $12515 estimated gross traded notional, and 10% of visible notional.
$12515
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.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close263.20
1W+3.5%
RS-8.7
Fair value-30.3%
Options pressure-10
Speculation40
Volatility75
Trend fit82
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:29
Mixed
Pressure 2
Move 15.8%
30 Jul 10:25
Mixed
Pressure -2
Move 16.0%
31 Jul 11:21
Mixed
Pressure -10
Move 10.8%
1 Aug 23:20
Bullish
Pressure 43
Move 9.1%
Strike Map
Where activity is clustering
Strike140.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike145.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike150.00
Calls · V 0 · OI 2
Puts · V 0 · OI 1
Strike155.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike160.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike165.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike170.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike175.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts62
Avg IV0.51
Put-call1.14
Expiry18 Sep 2026
Contracts88
Avg IV0.52
Put-call0.64
Expiry16 Oct 2026
Contracts76
Avg IV0.53
Put-call10.00
Expiry20 Nov 2026
Contracts74
Avg IV0.53
Put-call-
Expiry18 Dec 2026
Contracts86
Avg IV0.53
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.51
Put IV0.52
Skew0.01
18 Sep 2026Balanced skew
Call IV0.52
Put IV0.52
Skew-
16 Oct 2026Put IV premium
Call IV0.51
Put IV0.57
Skew0.06
20 Nov 2026Balanced skew
Call IV0.51
Put IV0.54
Skew0.03
18 Dec 2026Balanced skew
Call IV0.50
Put IV0.53
Skew0.03
Contract Tape
Most active contracts
ContractFDS260821P00250000
SidePut
Expiry21 Aug 2026
Strike250.00
Volume13
OI33
IV0.42
ContractFDS260821C00260000
SideCall
Expiry21 Aug 2026
Strike260.00
Volume11
OI585
IV0.52
ContractFDS260918P00220000
SidePut
Expiry18 Sep 2026
Strike220.00
Volume11
OI107
IV0.57
ContractFDS261016P00220000
SidePut
Expiry16 Oct 2026
Strike220.00
Volume10
OI2
IV0.58
ContractFDS260821C00300000
SideCall
Expiry21 Aug 2026
Strike300.00
Volume8
OI190
IV0.51
ContractFDS260918C00300000
SideCall
Expiry18 Sep 2026
Strike300.00
Volume8
OI165
IV0.50
ContractFDS260918C00320000
SideCall
Expiry18 Sep 2026
Strike320.00
Volume8
OI132
IV0.50
ContractFDS260821P00280000
SidePut
Expiry21 Aug 2026
Strike280.00
Volume8
OI34
IV0.45
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
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.