Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
GLW options intelligence
Corning Incorporated options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 1 Aug 2026 10:42 · partial chain
Options-market disagreement
Mixed pressure
GLW currently carries mixed options pressure with a 45/100 conviction score. The nearest-chain expected move is 10.0%, with volume/open-interest participation at 0.07.
Expected move
10.0%
Wider near-term move priced
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
0.89
Balanced tape
Trend fit
92
Options agree with trend context
Weekly backdrop
-5.7%
RS 5.3
Expected move
10.0%
Put-call volume
0.89
Volume / OI
0.07
Reference IV
0.82
Max pain
134.00
Underlying
146.65
Nearest expiry
7 Aug 2026
Contracts
2000
Research Brief
GLW has a mixed chain read with 45/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 131.94–161.36; The largest call open-interest concentration is 220.00; the largest put concentration is 110.00. The most active strike by current volume is 120.00.
Priced range131.94–161.36
Call concentration220.00
Put concentration110.00
Max pain reference134.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 131.94 to 161.36. Max pain at 134.00 sits inside that range, 8.6% below spot.
Spot
Max pain
131.94146.65 ± 14.71161.36
Confirmation level
A close beyond 161.36 or below 131.94 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 45/100
Pressure is 5/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure5 × 42%
+2.1
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement92 × 26%
+23.9
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 220.00; the largest put concentration is 110.00. The most active strike by current volume is 120.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
962
110.00-25.0%
62
444
115.00-21.6%
90
512
120.00-18.2%
217
579
125.00-14.8%
299
363
127.00-13.4%
340
335
130.00-11.4%
257
192
135.00-7.9%
496
16
137.00-6.6%
47
23
138.00-5.9%
740
202
140.00-4.5%
725
205
145.00-1.1%
998
295
150.002.3%
604
165
155.005.7%
204
252
160.009.1%
817
155
170.0015.9%
407
44
180.0022.7%
897
1
220.0050.0%
1139
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.
0.82
7 Aug
7d
0.80
14 Aug
14d
0.79
21 Aug
21d
0.80
28 Aug
28d
0.80
4 Sep
35d
0.78
11 Sep
42d
0.77
18 Sep
49d
0.77
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
118
120
122
124
126
128
131
133
135
137
139
141
143
145
147
150
155
160
165
170
175
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
Good
Retained chain89%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 2248
- 89% of provider contracts were retained for this snapshot.
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: $28.3M of estimated gross traded notional, puts · 91+ days · otm, 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+5
1W price-5.7%
Call premium53%
Put premium47%
Notional split
C 53% / P 47%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.07
Volume divided by open interest across the visible chain.
Trend fit
92/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 2 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 1880 contracts traded, $3.6M estimated gross traded notional, and 13% of visible notional.
$3.6M
Calls · 91+ days · OTM
calls cluster with 1420 contracts traded, $2.6M estimated gross traded notional, and 9% of visible notional.
$2.6M
Calls · 8-21 days · ITM
calls cluster with 1648 contracts traded, $2.4M estimated gross traded notional, and 9% of visible notional.
$2.4M
Calls · 91+ days · ITM
calls cluster with 520 contracts traded, $2.0M estimated gross traded notional, and 7% of visible notional.
$2.0M
Puts · 0-7 days · OTM
puts cluster with 7359 contracts traded, $1.9M estimated gross traded notional, and 7% of visible notional.
$1.9M
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.
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
Close138.25
1W-5.7%
RS5.3
Fair value+107.0%
Options pressure5
Speculation42
Volatility96
Trend fit92
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 10:00
Volatility
Pressure 13
Move 15.1%
30 Jul 10:00
Volatility
Pressure 28
Move 16.4%
30 Jul 18:43
Volatility
Pressure 9
Move 9.1%
31 Jul 13:18
Mixed
Pressure 6
Move 8.2%
1 Aug 09:42
Mixed
Pressure 5
Move 10.0%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
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 21
Strike85.00
Calls · V 0 · OI 1
Puts · V 1 · OI 274
Strike90.00
Calls · V 0 · OI 1
Puts · V 4 · OI 54
Strike93.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts240
Avg IV0.82
Put-call1.14
Expiry14 Aug 2026
Contracts218
Avg IV0.80
Put-call0.71
Expiry21 Aug 2026
Contracts152
Avg IV0.79
Put-call0.59
Expiry28 Aug 2026
Contracts98
Avg IV0.80
Put-call1.30
Expiry4 Sep 2026
Contracts74
Avg IV0.80
Put-call0.91
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.82
Put IV0.85
Skew0.03
14 Aug 2026Balanced skew
Call IV0.79
Put IV0.82
Skew0.04
21 Aug 2026Balanced skew
Call IV0.80
Put IV0.82
Skew0.03
28 Aug 2026Balanced skew
Call IV0.81
Put IV0.82
Skew0.01
4 Sep 2026Balanced skew
Call IV0.77
Put IV0.81
Skew0.04
Contract Tape
Most active contracts
ContractGLW260807P00120000
SidePut
Expiry7 Aug 2026
Strike120.00
Volume1019
OI512
IV0.90
ContractGLW260807P00137000
SidePut
Expiry7 Aug 2026
Strike137.00
Volume921
OI16
IV0.82
ContractGLW260807P00115000
SidePut
Expiry7 Aug 2026
Strike115.00
Volume902
OI444
IV0.94
ContractGLW260807C00145000
SideCall
Expiry7 Aug 2026
Strike145.00
Volume901
OI998
IV0.83
ContractGLW260807P00135000
SidePut
Expiry7 Aug 2026
Strike135.00
Volume829
OI192
IV0.82
ContractGLW260807C00170000
SideCall
Expiry7 Aug 2026
Strike170.00
Volume803
OI407
IV0.83
ContractGLW260821P00115000
SidePut
Expiry21 Aug 2026
Strike115.00
Volume671
OI873
IV0.86
ContractGLW260807C00155000
SideCall
Expiry7 Aug 2026
Strike155.00
Volume636
OI204
IV0.82
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.