Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
HD options intelligence
The Home Depot Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 31 Jul 2026
Checked 1 Aug 2026 07:40 · complete available chain
Call-side pressure
Bullish pressure
HD currently carries bullish options pressure with a 37/100 conviction score. The nearest-chain expected move is 3.5%, with volume/open-interest participation at 0.06.
Expected move
3.5%
Near-term move context
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.48
Call-side skew
Trend fit
34
Options are not fully confirming trend
Weekly backdrop
-0.3%
RS -14.5
Expected move
3.5%
Put-call volume
0.48
Volume / OI
0.06
Reference IV
0.30
Max pain
335.00
Underlying
332.98
Nearest expiry
7 Aug 2026
Contracts
1804
Research Brief
HD has a bullish chain read with 37/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 321.45–344.51; The largest call open-interest concentration is 335.00; the largest put concentration is 322.50. The most active strike by current volume is 405.00.
Priced range321.45–344.51
Call concentration335.00
Put concentration322.50
Max pain reference335.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 321.45 to 344.51. Max pain at 335.00 sits inside that range, 0.6% above spot.
Spot
Max pain
321.45332.98 ± 11.53344.51
Confirmation level
A close beyond 344.51 or below 321.45 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 37/100
Pressure is 38/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure38 × 42%
+15.8
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement34 × 26%
+8.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility35 × 10%
+3.5
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 335.00; the largest put concentration is 322.50. The most active strike by current volume is 405.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
705
260.00-21.9%
62
586
305.00-8.4%
11
1029
322.50-3.1%
2
232
325.00-2.4%
11
97
330.00-0.9%
156
190
335.000.6%
608
71
340.002.1%
91
67
342.502.9%
310
28
350.005.1%
328
22
355.006.6%
163
4
360.008.1%
434
0
362.508.9%
289
0
405.0021.6%
182
0
410.0023.1%
365
0
420.0026.1%
121
0
425.0027.6%
102
0
430.0029.1%
374
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.
0.30
7 Aug
7d
0.30
14 Aug
14d
0.36
21 Aug
21d
0.34
28 Aug
28d
0.34
4 Sep
35d
0.33
11 Sep
42d
0.33
18 Sep
49d
0.31
16 Oct
77d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
270
280
290
300
308
313
318
323
328
333
338
340
345
350
355
360
365
370
375
385
395
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
- 1804 / 1804
- 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.
Call-side pressure is building before a meaningful weekly price response.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $8.6M of estimated gross traded notional, puts · 91+ days · otm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+38
1W price-0.3%
Call premium34%
Put premium66%
Notional split
C 34% / P 66%
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
34/100
Agreement between options pressure and Sharemaestro market context.
Event window
18 Aug
Matched earnings event is 16 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · OTM
puts cluster with 1481 contracts traded, $2.5M estimated gross traded notional, and 29% of visible notional.
$2.5M
Puts · 46-90 days · ATM
puts cluster with 1092 contracts traded, $1.6M estimated gross traded notional, and 19% of visible notional.
$1.6M
Puts · 91+ days · ATM
puts cluster with 219 contracts traded, $765448 estimated gross traded notional, and 9% of visible notional.
$765448
Calls · 91+ days · ATM
calls cluster with 242 contracts traded, $707318 estimated gross traded notional, and 8% of visible notional.
$707318
Calls · 8-21 days · OTM
calls cluster with 4799 contracts traded, $360978 estimated gross traded notional, and 4% of visible notional.
$360978
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
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
Close331.96
1W-0.3%
RS-14.5
Fair value-4.4%
Options pressure38
Speculation41
Volatility35
Trend fit34
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 14:02
Mixed
Pressure 17
Move 3.6%
29 Jul 14:32
Mixed
Pressure 15
Move 3.4%
29 Jul 14:57
Mixed
Pressure 8
Move 3.2%
29 Jul 15:19
Mixed
Pressure 6
Move 3.2%
29 Jul 15:40
Mixed
Pressure 7
Move 3.4%
29 Jul 16:04
Mixed
Pressure 0
Move 3.7%
29 Jul 16:21
Mixed
Pressure 0
Move 3.7%
29 Jul 16:50
Mixed
Pressure 5
Move 3.8%
Strike Map
Where activity is clustering
Strike220.00
Calls · V 0 · OI 47
Puts · V 0 · OI 69
Strike225.00
Calls · V 0 · OI 2
Puts · V 0 · OI 35
Strike230.00
Calls · V 0 · OI 0
Puts · V 0 · OI 7
Strike235.00
Calls · V 0 · OI 0
Puts · V 0 · OI 48
Strike240.00
Calls · V 0 · OI 0
Puts · V 0 · OI 26
Strike245.00
Calls · V 0 · OI 1
Puts · V 0 · OI 127
Strike250.00
Calls · V 0 · OI 0
Puts · V 0 · OI 43
Strike255.00
Calls · V 0 · OI 0
Puts · V 2 · OI 107
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts128
Avg IV0.30
Put-call0.26
Expiry14 Aug 2026
Contracts138
Avg IV0.30
Put-call0.10
Expiry21 Aug 2026
Contracts140
Avg IV0.36
Put-call0.33
Expiry28 Aug 2026
Contracts100
Avg IV0.34
Put-call0.04
Expiry4 Sep 2026
Contracts100
Avg IV0.34
Put-call0.04
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.32
Put IV0.30
Skew-0.02
14 Aug 2026Balanced skew
Call IV0.31
Put IV0.31
Skew-
21 Aug 2026Balanced skew
Call IV0.37
Put IV0.37
Skew-
28 Aug 2026Balanced skew
Call IV0.31
Put IV0.36
Skew0.05
4 Sep 2026Balanced skew
Call IV0.32
Put IV0.36
Skew0.04
Contract Tape
Most active contracts
ContractHD260814C00370000
SideCall
Expiry14 Aug 2026
Strike370.00
Volume2968
OI3413
IV0.34
ContractHD260918P00330000
SidePut
Expiry18 Sep 2026
Strike330.00
Volume1029
OI2123
IV0.35
ContractHD270115P00320000
SidePut
Expiry15 Jan 2027
Strike320.00
Volume1020
OI2548
IV0.33
ContractHD260821C00440000
SideCall
Expiry21 Aug 2026
Strike440.00
Volume613
OI325
IV0.49
ContractHD260828C00440000
SideCall
Expiry28 Aug 2026
Strike440.00
Volume613
OI111
IV0.43
ContractHD260807C00405000
SideCall
Expiry7 Aug 2026
Strike405.00
Volume474
OI182
IV0.53
ContractHD260814C00360000
SideCall
Expiry14 Aug 2026
Strike360.00
Volume437
OI384
IV0.31
ContractHD260904C00350000
SideCall
Expiry4 Sep 2026
Strike350.00
Volume394
OI11
IV0.33
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.