Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
HTZ options intelligence
Hertz Global Holdings Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
32
Market data through 31 Jul 2026
Checked 2 Aug 2026 17:06 · complete available chain
Options-market disagreement
Mixed pressure
HTZ currently carries mixed options pressure with a 32/100 conviction score. The nearest-chain expected move is 19.6%, with volume/open-interest participation at 0.24.
Expected move
19.6%
Wider near-term move priced
Activity / OI
0.24
Current volume is quieter versus prior open interest
Put-call
0.90
Balanced tape
Trend fit
44
Options are not fully confirming trend
Weekly backdrop
-12.4%
RS -71.4
Expected move
19.6%
Put-call volume
0.90
Volume / OI
0.24
Reference IV
2.14
Max pain
2.00
Underlying
1.59
Nearest expiry
7 Aug 2026
Contracts
366
Research Brief
HTZ has a mixed chain read with 32/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 1.28–1.89; The largest call open-interest concentration is 2.50; the largest put concentration is 1.50. The most active strike by current volume is 2.00.
Priced range1.28–1.89
Call concentration2.50
Put concentration1.50
Max pain reference2.00
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- Options and the weekly trend are not yet giving the same message.
- 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 1.28 to 1.89. Max pain at 2.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
1.281.59 ± 0.311.89
Confirmation level
A close beyond 1.89 or below 1.28 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 32/100
Pressure is 1/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure1 × 42%
+0.4
How strongly activity leans toward calls or puts.
Participation46 × 22%
+10.0
Volume relative to existing open interest and contract-level activity.
Trend agreement44 × 26%
+11.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 2.50; the largest put concentration is 1.50. The most active strike by current volume is 2.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
0.50-68.5%
3
562
1.00-36.9%
356
1462
1.50-5.4%
582
700
2.0026.2%
4073
216
2.5057.7%
5930
114
3.0089.3%
974
46
3.50120.8%
305
80
4.00152.4%
256
34
4.50183.9%
4
26
5.00215.5%
39
1
5.50247.0%
19
0
6.00278.5%
12
0
6.50310.1%
1
0
7.00341.6%
0
1
7.50373.2%
0
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.
2.14
7 Aug
7d
1.75
14 Aug
14d
1.57
21 Aug
21d
1.51
28 Aug
28d
1.44
4 Sep
35d
1.39
11 Sep
42d
1.48
18 Sep
49d
1.26
18 Dec
140d
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
2
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
- 366 / 366
- 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: $75.9M of estimated gross traded notional, puts · 8-21 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+1
1W price-12.4%
Call premium1%
Put premium99%
Notional split
C 1% / P 99%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.24
Volume divided by open interest across the visible chain.
Trend fit
44/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 4 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 · 8-21 days · ITM
puts cluster with 100039 contracts traded, $74.0M estimated gross traded notional, and 97% of visible notional.
$74.0M
Puts · 91+ days · ITM
puts cluster with 6171 contracts traded, $1.4M estimated gross traded notional, and 2% of visible notional.
$1.4M
Calls · 8-21 days · ITM
calls cluster with 6880 contracts traded, $165348 estimated gross traded notional, and 0% of visible notional.
$165348
Calls · 8-21 days · OTM
calls cluster with 103378 contracts traded, $163268 estimated gross traded notional, and 0% of visible notional.
$163268
Calls · 91+ days · OTM
calls cluster with 4090 contracts traded, $142876 estimated gross traded notional, and 0% of visible notional.
$142876
Setup Classification
Opportunity and risk frame
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
Close1.59
1W-12.4%
RS-71.4
Fair value-73.9%
Options pressure1
Speculation46
Volatility96
Trend fit44
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 11:04
Mixed
Pressure -14
Move 15.5%
30 Jul 10:52
Bullish
Pressure 46
Move 19.6%
30 Jul 21:31
Bullish
Pressure 29
Move 17.4%
31 Jul 13:06
Bullish
Pressure 54
Move 17.4%
31 Jul 19:06
Bullish
Pressure 44
Move 23.8%
1 Aug 07:25
Mixed
Pressure 1
Move 28.7%
2 Aug 16:06
Mixed
Pressure 1
Move 19.6%
Strike Map
Where activity is clustering
Strike0.50
Calls · V 1 · OI 3
Puts · V 0 · OI 0
Strike1.00
Calls · V 5 · OI 356
Puts · V 13 · OI 562
Strike1.50
Calls · V 261 · OI 582
Puts · V 239 · OI 1462
Strike2.00
Calls · V 1599 · OI 4073
Puts · V 98 · OI 700
Strike2.50
Calls · V 554 · OI 5930
Puts · V 14 · OI 216
Strike3.00
Calls · V 0 · OI 974
Puts · V 0 · OI 114
Strike3.50
Calls · V 0 · OI 305
Puts · V 5 · OI 46
Strike4.00
Calls · V 0 · OI 256
Puts · V 0 · OI 80
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts30
Avg IV2.14
Put-call0.15
Expiry14 Aug 2026
Contracts20
Avg IV1.75
Put-call0.01
Expiry21 Aug 2026
Contracts28
Avg IV1.57
Put-call0.97
Expiry28 Aug 2026
Contracts20
Avg IV1.51
Put-call0.13
Expiry4 Sep 2026
Contracts20
Avg IV1.44
Put-call3.33
Skew
Call/put IV balance
7 Aug 2026Call IV premium
Call IV2.07
Put IV1.63
Skew-0.44
14 Aug 2026Call IV premium
Call IV1.65
Put IV1.59
Skew-0.07
21 Aug 2026Call IV premium
Call IV1.50
Put IV1.37
Skew-0.13
28 Aug 2026Call IV premium
Call IV1.61
Put IV1.31
Skew-0.29
4 Sep 2026Call IV premium
Call IV1.51
Put IV1.34
Skew-0.17
Contract Tape
Most active contracts
ContractHTZ260821C00009000
SideCall
Expiry21 Aug 2026
Strike9.00
Volume100021
OI101549
IV3.15
ContractHTZ260821P00009000
SidePut
Expiry21 Aug 2026
Strike9.00
Volume100000
OI100005
IV2.81
ContractHTZ260814C00001500
SideCall
Expiry14 Aug 2026
Strike1.50
Volume6728
OI8957
IV1.61
ContractHTZ280121P00004000
SidePut
Expiry21 Jan 2028
Strike4.00
Volume3622
OI23874
IV1.33
ContractHTZ260821C00004000
SideCall
Expiry21 Aug 2026
Strike4.00
Volume2303
OI10728
IV1.94
ContractHTZ270115C00002000
SideCall
Expiry15 Jan 2027
Strike2.00
Volume2270
OI7908
IV1.18
ContractHTZ270115P00002000
SidePut
Expiry15 Jan 2027
Strike2.00
Volume1839
OI10858
IV1.24
ContractHTZ260807C00002000
SideCall
Expiry7 Aug 2026
Strike2.00
Volume1599
OI4073
IV2.07
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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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.