Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
HLF options intelligence
Herbalife Nutrition Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 31 Jul 2026
Checked 2 Aug 2026 02:24 · complete available chain
Call-side pressure
Bullish pressure
HLF currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 10.5%, with volume/open-interest participation at 0.00.
Expected move
10.5%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
0.40
Call-side skew
Trend fit
10
Options are not fully confirming trend
Weekly backdrop
+4.5%
RS -10.9
Expected move
10.5%
Put-call volume
0.40
Volume / OI
0.00
Reference IV
1.07
Max pain
12.50
Underlying
12.42
Nearest expiry
7 Aug 2026
Contracts
550
Research Brief
HLF has a bullish 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 11.12–13.72; The largest call open-interest concentration is 13.00; the largest put concentration is 12.00. The most active strike by current volume is 12.50.
Priced range11.12–13.72
Call concentration13.00
Put concentration12.00
Max pain reference12.50
- 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.
- 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 11.12 to 13.72. Max pain at 12.50 sits inside that range, 0.6% above spot.
Spot
Max pain
11.1212.42 ± 1.3013.72
Confirmation level
A close beyond 13.72 or below 11.12 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 42/100
Pressure is 51/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure51 × 42%
+21.5
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.8
Volume relative to existing open interest and contract-level activity.
Trend agreement10 × 26%
+2.5
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 13.00; the largest put concentration is 12.00. The most active strike by current volume is 12.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
3.00-75.8%
7
0
4.00-67.8%
2
0
5.00-59.7%
1
0
6.00-51.7%
1
4
11.00-11.4%
6
2
11.50-7.4%
0
6
12.00-3.4%
4
2
12.500.6%
37
2
13.004.7%
117
2
13.508.7%
63
1
14.0012.7%
7
1
15.0020.8%
4
5
16.0028.8%
0
4
17.5040.9%
1
4
18.0044.9%
1
5
19.0053.0%
0
2
23.5089.2%
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.
1.07
7 Aug
7d
1.18
14 Aug
14d
1.09
21 Aug
21d
1.09
28 Aug
28d
0.54
4 Sep
35d
0.54
11 Sep
42d
0.64
18 Sep
49d
0.70
20 Nov
112d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
10
11
11
12
12
13
13
14
14
15
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
- 550 / 550
- 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.
Options pressure and weekly price action are pointing in the same constructive direction.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $17790 of estimated gross traded notional, calls · 0-7 days · atm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+51
1W price+4.5%
Call premium77%
Put premium23%
Notional split
C 77% / P 23%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
10/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 0-7 days · ATM
calls cluster with 122 contracts traded, $7320 estimated gross traded notional, and 41% of visible notional.
$7320
Calls · 8-21 days · ITM
calls cluster with 4 contracts traded, $2130 estimated gross traded notional, and 12% of visible notional.
$2130
Puts · 0-7 days · OTM
puts cluster with 42 contracts traded, $1644 estimated gross traded notional, and 9% of visible notional.
$1644
Calls · 91+ days · ATM
calls cluster with 4 contracts traded, $1325 estimated gross traded notional, and 7% of visible notional.
$1325
Calls · 0-7 days · OTM
calls cluster with 43 contracts traded, $1010 estimated gross traded notional, and 6% of visible notional.
$1010
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.
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
Close12.42
1W+4.5%
RS-10.9
Fair value+14.7%
Options pressure51
Speculation40
Volatility96
Trend fit10
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 11:10
Bullish
Pressure 43
Move 6.3%
30 Jul 10:56
Mixed
Pressure 14
Move 2.9%
31 Jul 10:41
Bullish
Pressure 32
Move 4.0%
31 Jul 15:39
Bearish
Pressure -74
Move 3.6%
31 Jul 16:50
Bearish
Pressure -74
Move 3.6%
31 Jul 17:06
Bearish
Pressure -74
Move 3.6%
2 Aug 01:24
Bullish
Pressure 51
Move 10.5%
Strike Map
Where activity is clustering
Strike3.00
Calls · V 0 · OI 7
Puts · V 0 · OI 1
Strike4.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike5.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike6.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike6.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike8.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts80
Avg IV1.07
Put-call0.33
Expiry14 Aug 2026
Contracts76
Avg IV1.18
Put-call2.00
Expiry21 Aug 2026
Contracts74
Avg IV1.09
Put-call0.33
Expiry28 Aug 2026
Contracts44
Avg IV1.09
Put-call-
Expiry4 Sep 2026
Contracts44
Avg IV0.54
Put-call-
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV1.05
Put IV1.51
Skew0.46
14 Aug 2026Call IV premium
Call IV1.40
Put IV0.97
Skew-0.43
21 Aug 2026Call IV premium
Call IV0.97
Put IV0.90
Skew-0.07
28 Aug 2026Balanced skew
Call IV0.90
Put IV0.87
Skew-0.03
4 Sep 2026Call IV premium
Call IV0.20
Put IV0.08
Skew-0.12
Contract Tape
Most active contracts
ContractHLF260807C00012500
SideCall
Expiry7 Aug 2026
Strike12.50
Volume122
OI37
IV0.92
ContractHLF260807C00014000
SideCall
Expiry7 Aug 2026
Strike14.00
Volume31
OI7
IV0.46
ContractHLF260807P00011500
SidePut
Expiry7 Aug 2026
Strike11.50
Volume29
OI2
IV1.15
ContractHLF260807C00013500
SideCall
Expiry7 Aug 2026
Strike13.50
Volume12
OI63
IV1.05
ContractHLF260807P00012500
SidePut
Expiry7 Aug 2026
Strike12.50
Volume12
OI2
IV0.96
ContractHLF260807P00011000
SidePut
Expiry7 Aug 2026
Strike11.00
Volume10
OI4
IV1.51
ContractHLF260828P00011000
SidePut
Expiry28 Aug 2026
Strike11.00
Volume4
OI2
IV0.87
ContractHLF270115C00012500
SideCall
Expiry15 Jan 2027
Strike12.50
Volume2
OI11544
IV0.69
Research Graph
Related research and context
Sharemaestro research
Related News
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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.