Ticker Options Intelligence

WPM options intelligence

Wheaton Precious Metals Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 25 Market data through 31 Jul 2026 Checked 31 Jul 2026 14:42 · complete available chain

Options-market disagreement

Mixed pressure

WPM currently carries mixed options pressure with a 25/100 conviction score. The nearest-chain expected move is 2.1%, with volume/open-interest participation at 0.07.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Mixed

Options-market disagreement

Expected move 2.1%

Near-term move context

Activity / OI 0.07

Current volume is quieter versus prior open interest

Put-call 0.81

Balanced tape

Trend fit 50

Options are not fully confirming trend

Weekly backdrop -2.2%

RS -16.2

Expected move 2.1%
Put-call volume 0.81
Volume / OI 0.07
Reference IV 0.03
Max pain 102.00
Underlying 111.48
Nearest expiry 31 Jul 2026
Contracts 718

Research Brief

WPM has a mixed chain read with 25/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 109.13–113.83; The largest call open-interest concentration is 115.00; the largest put concentration is 95.00. The most active strike by current volume is 117.00.

Priced range109.13–113.83
Call concentration115.00
Put concentration95.00
Max pain reference102.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • 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

Size, not direction · through 31 Jul

Options imply 109.13 to 113.83. Max pain at 102.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
109.13111.48 ± 2.35113.83
Confirmation level

A close beyond 113.83 or below 109.13 at the 31 Jul 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 25/100

Evidence alignment, not probability

Pressure is 9/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure9 × 42%
+3.7

How strongly activity leans toward calls or puts.

Participation35 × 22%
+7.8

Volume relative to existing open interest and contract-level activity.

Trend agreement50 × 26%
+12.9

How closely the chain read agrees with the underlying trend backdrop.

Volatility10 × 10%
+1.0

The intensity of implied volatility and the priced move.

Reconstructed score25.4Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 115.00; the largest put concentration is 95.00. The most active strike by current volume is 117.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
11
93.00-16.6%
116
12
94.00-15.7%
137
161
95.00-14.8%
28
8
102.00-8.5%
223
132
105.00-5.8%
113
22
109.00-2.2%
36
25
110.00-1.3%
87
53
111.00-0.4%
114
57
113.001.4%
74
17
114.002.3%
61
2
115.003.2%
317
0
116.004.1%
209
1
117.005.0%
217
1
118.005.8%
82
4
119.006.7%
180
0
124.0011.2%
309
0
135.0021.1%
111
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

5.84× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.03 31 Jul 0d
0.01 7 Aug 7d
0.01 14 Aug 14d
0.01 21 Aug 21d
0.01 28 Aug 28d
0.05 4 Sep 35d
0.02 18 Sep 49d
0.01 16 Oct 77d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

90
92
94
96
99
101
103
105
107
109
112
114
116
118
120
122
124
127
129
131
133
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
718 / 718
  • 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

Multi-expiry position-maintenance candidate

72/100
Primary intent Multi-expiry position-maintenance candidate

Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.

Flow vs price divergence No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $6.1M of estimated gross traded notional, puts · 91+ 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+9
1W price-2.2%
Call premium50%
Put premium50%
Notional split C 50% / P 50% 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 50/100 Agreement between options pressure and Sharemaestro market context.
Event window 6 Aug Matched earnings event is 5 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction. Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 261 contracts traded, $1.2M estimated gross traded notional, and 20% of visible notional.
$1.2M
Puts · 46-90 days · ITM puts cluster with 858 contracts traded, $993456 estimated gross traded notional, and 16% of visible notional.
$993456
Calls · 91+ days · ITM calls cluster with 221 contracts traded, $779028 estimated gross traded notional, and 13% of visible notional.
$779028
Calls · 0-7 days · ITM calls cluster with 384 contracts traded, $773393 estimated gross traded notional, and 13% of visible notional.
$773393
Calls · 91+ days · OTM calls cluster with 953 contracts traded, $646974 estimated gross traded notional, and 11% of visible notional.
$646974

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Event-risk setup

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

Sharemaestro weekly
Close109.03
1W-2.2%
RS-16.2
Fair value+37.7%
Options pressure9
Speculation35
Volatility10
Trend fit50

Today Versus Normal

Stored-options context

View history
Expected move 2.1% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.03 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.81 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.07 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:07 Bullish
Pressure 43
Move 4.3%
30 Jul 10:05 Mixed
Pressure 16
Move 3.7%
31 Jul 05:26 Mixed
Pressure -2
Move 2.1%
31 Jul 06:44 Mixed
Pressure 4
Move 3.3%
31 Jul 13:42 Mixed
Pressure 9
Move 2.1%

Strike Map

Where activity is clustering

Full strike map
Strike80.00
Calls · V 5 · OI 8
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 1 · OI 1
Strike90.00
Calls · V 2 · OI 19
Puts · V 12 · OI 18
Strike91.00
Calls · V 0 · OI 0
Puts · V 11 · OI 40
Strike92.00
Calls · V 3 · OI 25
Puts · V 0 · OI 4
Strike93.00
Calls · V 31 · OI 116
Puts · V 34 · OI 11
Strike94.00
Calls · V 32 · OI 137
Puts · V 1 · OI 12
Strike95.00
Calls · V 1 · OI 28
Puts · V 137 · OI 161

Term Structure

Expiration activity

Volume and IV
Expiry31 Jul 2026
Contracts94
Avg IV0.03
Put-call0.63
Expiry7 Aug 2026
Contracts65
Avg IV0.01
Put-call0.50
Expiry14 Aug 2026
Contracts60
Avg IV0.01
Put-call0.71
Expiry21 Aug 2026
Contracts69
Avg IV0.01
Put-call0.22
Expiry28 Aug 2026
Contracts44
Avg IV0.01
Put-call0.34

Skew

Call/put IV balance

OTM demand
31 Jul 2026Balanced skew
Call IV0.25
Put IV0.25
Skew-
7 Aug 2026Call IV premium
Call IV0.13
Put IV0.06
Skew-0.06
14 Aug 2026Balanced skew
Call IV0.06
Put IV0.06
Skew-
21 Aug 2026Balanced skew
Call IV0.06
Put IV0.03
Skew-0.03
28 Aug 2026Balanced skew
Call IV0.06
Put IV0.03
Skew-0.03

Contract Tape

Most active contracts

Full contract tape
ContractWPM270617P00165000
SidePut
Expiry17 Jun 2027
Strike165.00
Volume-
OI32
IV0.00
ContractWPM260814C00090000
SideCall
Expiry14 Aug 2026
Strike90.00
Volume-
OI25
IV0.00
ContractWPM260814C00095000
SideCall
Expiry14 Aug 2026
Strike95.00
Volume-
OI25
IV0.00
ContractWPM260821P00103000
SidePut
Expiry21 Aug 2026
Strike103.00
Volume-
OI24
IV0.06
ContractWPM260828P00120000
SidePut
Expiry28 Aug 2026
Strike120.00
Volume-
OI10
IV0.00
ContractWPM261218P00165000
SidePut
Expiry18 Dec 2026
Strike165.00
Volume-
OI9
IV0.00
ContractWPM260807P00093000
SidePut
Expiry7 Aug 2026
Strike93.00
Volume-
OI9
IV0.25
ContractWPM261218P00065000
SidePut
Expiry18 Dec 2026
Strike65.00
Volume-
OI8
IV0.55