Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
CHKP options intelligence
Check Point Software Technologies Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
52
Market data through 12 Aug 2026
Checked 13 Aug 2026 11:25 · complete available chain
Put-side pressure
Bearish pressure
CHKP currently carries bearish options pressure with a 52/100 conviction score. The nearest-chain expected move is 4.5%, with volume/open-interest participation at 0.01.
Expected move
4.5%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
3.87
Put-side skew
Trend fit
84
Options agree with trend context
Weekly backdrop
+0.5%
RS -32.8
Expected move
4.5%
Put-call volume
3.87
Volume / OI
0.01
Reference IV
0.32
Max pain
130.00
Underlying
127.82
Nearest expiry
21 Aug 2026
Contracts
422
Research Brief
CHKP has a bearish chain read with 52/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 122.10–133.54; The largest call open-interest concentration is 145.00; the largest put concentration is 115.00. The most active strike by current volume is 130.00.
Priced range122.10–133.54
Call concentration145.00
Put concentration115.00
Max pain reference130.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 122.10 to 133.54. Max pain at 130.00 sits inside that range, 1.7% above spot.
Spot
Max pain
122.10127.82 ± 5.72133.54
Confirmation level
A close beyond 133.54 or below 122.10 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 52/100
Pressure is 54/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure54 × 42%
+22.5
How strongly activity leans toward calls or puts.
Participation18 × 22%
+3.9
Volume relative to existing open interest and contract-level activity.
Trend agreement84 × 26%
+21.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility41 × 10%
+4.1
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 145.00; the largest put concentration is 115.00. The most active strike by current volume is 130.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
40
85.00-33.5%
0
17
95.00-25.7%
0
86
100.00-21.8%
18
1507
110.00-13.9%
0
1999
115.00-10.0%
2
1193
120.00-6.1%
46
404
125.00-2.2%
115
280
130.001.7%
233
199
135.005.6%
426
126
140.009.5%
856
21
145.0013.4%
3299
0
150.0017.4%
557
0
155.0021.3%
2212
0
160.0025.2%
1935
0
165.0029.1%
33
0
170.0033.0%
12
0
175.0036.9%
9
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$1.8MDelta change / 1% move
Positive peak140.00+$2.9M
Negative peak130.00-$1.7M
Nearest balance135.78Interpolated sign change
StrikeNegativePositiveNet / 1% move
80.00-37.4%
-$172
85.00-33.5%
-$527
90.00-29.6%
-$79,570
95.00-25.7%
-$1,627
100.00-21.8%
-$100,657
105.00-17.9%
-$35,707
110.00-13.9%
-$44,066
115.00-10.0%
-$147,333
120.00-6.1%
-$168,816
125.00-2.2%
-$557,245
130.001.7%
-$1.7M
135.005.6%
-$530,148
140.009.5%
+$2.9M
145.0013.4%
+$224,693
150.0017.4%
+$178,821
155.0021.3%
+$68,254
160.0025.2%
+$373,290
165.0029.1%
+$273,072
170.0033.0%
+$34,564
175.0036.9%
+$151,279
180.0040.8%
+$74,731
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
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.32
21 Aug
9d
0.36
18 Sep
37d
0.37
16 Oct
65d
0.39
18 Dec
128d
0.39
15 Jan
156d
0.40
17 Jun
309d
0.40
21 Jan
527d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
105
110
115
120
125
130
135
140
145
150
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 422 / 422
- 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 building while price is rising, a cautionary divergence.
Put-heavy activity matters because it connects the options headline to the actual evidence: $261,779 of estimated gross traded notional, puts · 8-21 days · atm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-54
1W price+0.5%
Call premium40%
Put premium60%
Notional split
C 40% / P 60%
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
84/100
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 · 8-21 days · ATM
puts cluster with 426 contracts traded, $130,500 estimated gross traded notional, and 50% of visible notional.
$130,500
Calls · 91+ days · ITM
calls cluster with 22 contracts traded, $58,210 estimated gross traded notional, and 22% of visible notional.
$58,210
Calls · 91+ days · OTM
calls cluster with 70 contracts traded, $36,920 estimated gross traded notional, and 14% of visible notional.
$36,920
Puts · 91+ days · ATM
puts cluster with 15 contracts traded, $15,800 estimated gross traded notional, and 6% of visible notional.
$15,800
Calls · 22-45 days · ITM
calls cluster with 5 contracts traded, $5,825 estimated gross traded notional, and 2% of visible notional.
$5,825
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 11 completed sessions
Volume rank18th
Volume/OI rank18th
IV rank0th
Market Context
Underlying confirmation
Close127.82
1W+0.5%
RS-32.8
Fair value-26.6%
Options pressure-54
Speculation18
Volatility41
Trend fit84
Today Versus Normal
Stored-options context
30d avg 7.6% · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.42 · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 1.33 · 11 sessions
91th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.05 · 11 sessions
18th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:23
Volatility
Pressure 88
Move 12.3%
30 Jul 10:20
Mixed
Pressure 1
Move 12.4%
31 Jul 12:57
Bearish
Pressure -21
Move 7.4%
31 Jul 14:27
Bearish
Pressure -43
Move 7.7%
31 Jul 15:44
Bearish
Pressure -48
Move 7.4%
31 Jul 16:41
Bearish
Pressure -47
Move 7.2%
31 Jul 17:28
Bearish
Pressure -42
Move 7.2%
31 Jul 18:05
Bearish
Pressure -26
Move 7.6%
Strike Map
Where activity is clustering
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 40
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 17
Strike100.00
Calls · V 0 · OI 18
Puts · V 0 · OI 86
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts50
Avg IV0.32
Put-call24.22
Expiry18 Sep 2026
Contracts46
Avg IV0.36
Put-call0.27
Expiry16 Oct 2026
Contracts76
Avg IV0.37
Put-call3.73
Expiry18 Dec 2026
Contracts78
Avg IV0.39
Put-call-
Expiry15 Jan 2027
Contracts60
Avg IV0.39
Put-call0.62
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.37
Put IV0.30
Skew-0.07
18 Sep 2026Balanced skew
Call IV0.33
Put IV0.35
Skew0.02
16 Oct 2026Balanced skew
Call IV0.36
Put IV0.34
Skew-0.02
18 Dec 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
15 Jan 2027Balanced skew
Call IV0.36
Put IV0.40
Skew0.04
Contract Tape
Most active contracts
ContractCHKP260821P00130000
SidePut
Expiry21 Aug 2026
Strike130.00
Volume402
OI280
IV0.36
ContractCHKP261016P00105000
SidePut
Expiry16 Oct 2026
Strike105.00
Volume34
OI41
IV0.38
ContractCHKP260821P00125000
SidePut
Expiry21 Aug 2026
Strike125.00
Volume24
OI404
IV0.30
ContractCHKP270115C00110000
SideCall
Expiry15 Jan 2027
Strike110.00
Volume20
OI1712
IV0.40
ContractCHKP270115C00140000
SideCall
Expiry15 Jan 2027
Strike140.00
Volume20
OI104
IV0.39
ContractCHKP261218C00250000
SideCall
Expiry18 Dec 2026
Strike250.00
Volume20
OI54
IV0.36
ContractCHKP260821C00135000
SideCall
Expiry21 Aug 2026
Strike135.00
Volume12
OI426
IV0.37
ContractCHKP270115P00080000
SidePut
Expiry15 Jan 2027
Strike80.00
Volume11
OI5
IV0.47
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.