Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
PPC options intelligence
Pilgrims Pride Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
60
Market data through 12 Aug 2026
Checked 13 Aug 2026 14:25 · complete available chain
Put-side pressure
Bearish pressure
PPC currently carries bearish options pressure with a 60/100 conviction score. The nearest-chain expected move is 8.4%, with volume/open-interest participation at 0.02.
Expected move
8.4%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
3.41
Put-side skew
Trend fit
87
Options agree with trend context
Weekly backdrop
+0.3%
RS -35.3
Expected move
8.4%
Put-call volume
3.41
Volume / OI
0.02
Reference IV
0.48
Max pain
28.00
Underlying
27.45
Nearest expiry
21 Aug 2026
Contracts
198
Research Brief
PPC has a bearish chain read with 60/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 25.15–29.75; The largest call open-interest concentration is 30.00; the largest put concentration is 27.00. The most active strike by current volume is 30.00.
Priced range25.15–29.75
Call concentration30.00
Put concentration27.00
Max pain reference28.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
- 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 25.15 to 29.75. Max pain at 28.00 sits inside that range, 2.0% above spot.
Spot
Max pain
25.1527.45 ± 2.3029.75
Confirmation level
A close beyond 29.75 or below 25.15 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 60/100
Pressure is 52/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure52 × 42%
+21.6
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement87 × 26%
+22.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility67 × 10%
+6.7
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 30.00; the largest put concentration is 27.00. The most active strike by current volume is 30.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
19.00-30.8%
0
27
21.00-23.5%
0
56
22.00-19.9%
0
16
23.00-16.2%
0
51
24.00-12.6%
0
16
25.00-8.9%
0
116
26.00-5.3%
0
397
27.00-1.6%
89
96
28.002.0%
43
7
29.005.6%
45
5
30.009.3%
185
0
31.0012.9%
21
0
32.0016.6%
142
0
33.0020.2%
8
0
34.0023.9%
6
0
35.0027.5%
3
0
37.0034.8%
2
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Negative gamma proxy
Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile-$112,204Delta change / 1% move
Positive peak35.00+$24,620
Negative peak27.00-$99,183
Nearest balance28.82Interpolated sign change
StrikeNegativePositiveNet / 1% move
15.00-45.4%
+$16
20.00-27.1%
-$285
21.00-23.5%
-$153
22.00-19.9%
-$492
23.00-16.2%
+$1,128
24.00-12.6%
-$6,085
25.00-8.9%
-$22,321
26.00-5.3%
-$23,101
27.00-1.6%
-$99,183
28.002.0%
-$58,291
29.005.6%
+$12,419
30.009.3%
+$19,088
31.0012.9%
+$5,008
32.0016.6%
+$7,693
33.0020.2%
+$23,226
34.0023.9%
-$869
35.0027.5%
+$24,620
36.0031.1%
+$1,039
37.0034.8%
+$602
38.0038.4%
+$1,664
39.0042.1%
+$24
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.48
21 Aug
9d
0.38
18 Sep
37d
0.42
18 Dec
128d
0.41
19 Mar
219d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
22
23
24
25
26
27
28
29
30
31
32
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. 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
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 198 / 198
- 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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Put-side pressure is present before a decisive weekly price breakdown.
Put-heavy activity matters because it connects the options headline to the actual evidence: $15,468 of estimated gross traded notional, puts · 91+ days · otm, and a bearish 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-52
1W price+0.3%
Call premium22%
Put premium78%
Notional split
C 22% / P 78%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
87/100
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 · 91+ days · OTM
puts cluster with 110 contracts traded, $7,825 estimated gross traded notional, and 51% of visible notional.
$7,825
Calls · 22-45 days · ATM
calls cluster with 31 contracts traded, $2,325 estimated gross traded notional, and 15% of visible notional.
$2,325
Puts · 22-45 days · OTM
puts cluster with 20 contracts traded, $1,600 estimated gross traded notional, and 10% of visible notional.
$1,600
Puts · 22-45 days · ITM
puts cluster with 4 contracts traded, $1,360 estimated gross traded notional, and 9% of visible notional.
$1,360
Puts · 8-21 days · ITM
puts cluster with 4 contracts traded, $1,270 estimated gross traded notional, and 8% of visible notional.
$1,270
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.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 10 completed sessions
Volume rank40th
Volume/OI rank30th
IV rank80th
Market Context
Underlying confirmation
Close27.45
1W+0.3%
RS-35.3
Fair value-22.2%
Options pressure-52
Speculation40
Volatility67
Trend fit87
Today Versus Normal
Stored-options context
30d avg 8.9% · 10 sessions
50th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.40 · 10 sessions
80th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 4.78 · 10 sessions
70th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.03 · 10 sessions
30th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:33
Volatility
Pressure -86
Move 12.6%
30 Jul 10:31
Volatility
Pressure -69
Move 12.0%
30 Jul 23:26
Volatility
Pressure -25
Move 9.7%
31 Jul 00:10
Volatility
Pressure -25
Move 9.7%
31 Jul 10:48
Bullish
Pressure 55
Move 9.7%
31 Jul 13:37
Bearish
Pressure -25
Move 9.2%
1 Aug 14:02
Mixed
Pressure 1
Move 7.8%
4 Aug 10:13
Bearish
Pressure -43
Move 7.5%
Strike Map
Where activity is clustering
Strike19.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike21.00
Calls · V 0 · OI 0
Puts · V 0 · OI 27
Strike22.00
Calls · V 0 · OI 0
Puts · V 0 · OI 56
Strike23.00
Calls · V 0 · OI 0
Puts · V 0 · OI 16
Strike24.00
Calls · V 0 · OI 0
Puts · V 0 · OI 51
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 16
Strike26.00
Calls · V 0 · OI 0
Puts · V 2 · OI 116
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts38
Avg IV0.48
Put-call6.00
Expiry18 Sep 2026
Contracts70
Avg IV0.38
Put-call0.67
Expiry18 Dec 2026
Contracts52
Avg IV0.42
Put-call27.50
Expiry19 Mar 2027
Contracts38
Avg IV0.41
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.15
Put IV0.12
Skew-0.03
18 Sep 2026Call IV premium
Call IV0.41
Put IV0.35
Skew-0.07
18 Dec 2026Balanced skew
Call IV0.41
Put IV0.44
Skew0.03
19 Mar 2027Put IV premium
Call IV0.37
Put IV0.43
Skew0.07
Contract Tape
Most active contracts
ContractPPC261218P00020000
SidePut
Expiry18 Dec 2026
Strike20.00
Volume100
OI12
IV0.52
ContractPPC260918C00028000
SideCall
Expiry18 Sep 2026
Strike28.00
Volume31
OI46
IV0.35
ContractPPC260918P00026000
SidePut
Expiry18 Sep 2026
Strike26.00
Volume20
OI29
IV0.37
ContractPPC261218P00026000
SidePut
Expiry18 Dec 2026
Strike26.00
Volume10
OI159
IV0.39
ContractPPC260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume4
OI576
IV0.41
ContractPPC260918P00030000
SidePut
Expiry18 Sep 2026
Strike30.00
Volume4
OI393
IV0.39
ContractPPC261218C00029000
SideCall
Expiry18 Dec 2026
Strike29.00
Volume4
OI7
IV0.41
ContractPPC260821P00030000
SidePut
Expiry21 Aug 2026
Strike30.00
Volume4
OI5
IV0.45
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
No upcoming matched earnings event.
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.