Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
WFC options intelligence
Wells Fargo & Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 31 Jul 2026
Checked 1 Aug 2026 07:33 · complete available chain
Put-side pressure
Bearish pressure
WFC currently carries bearish options pressure with a 47/100 conviction score. The nearest-chain expected move is 2.8%, with volume/open-interest participation at 0.03.
Expected move
2.8%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
1.57
Put-side skew
Trend fit
90
Options agree with trend context
Weekly backdrop
+0.2%
RS -4.7
Expected move
2.8%
Put-call volume
1.57
Volume / OI
0.03
Reference IV
0.26
Max pain
86.00
Underlying
86.31
Nearest expiry
7 Aug 2026
Contracts
1086
Research Brief
WFC has a bearish chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 83.86–88.76; The largest call open-interest concentration is 86.00; the largest put concentration is 82.00. The most active strike by current volume is 85.00.
Priced range83.86–88.76
Call concentration86.00
Put concentration82.00
Max pain reference86.00
- 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 83.86 to 88.76. Max pain at 86.00 sits inside that range, 0.4% below spot.
Spot
Max pain
83.8686.31 ± 2.4588.76
Confirmation level
A close beyond 88.76 or below 83.86 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 47/100
Pressure is 27/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure27 × 42%
+11.3
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement90 × 26%
+23.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility29 × 10%
+2.9
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 86.00; the largest put concentration is 82.00. The most active strike by current volume is 85.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
657
79.00-8.5%
51
231
80.00-7.3%
47
818
81.00-6.2%
15
1390
82.00-5.0%
21
866
83.00-3.8%
183
602
84.00-2.7%
462
628
85.00-1.5%
287
1076
86.00-0.4%
1988
254
87.000.8%
951
213
88.002.0%
1911
149
89.003.1%
198
333
90.004.3%
636
165
91.005.4%
710
1
92.006.6%
602
0
93.007.8%
479
1
95.0010.1%
291
0
97.0012.4%
214
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.
0.26
7 Aug
7d
0.24
14 Aug
14d
0.24
21 Aug
21d
0.24
28 Aug
28d
0.24
4 Sep
35d
0.24
11 Sep
42d
0.25
18 Sep
49d
0.28
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.
70
72
74
75
77
78
79
81
82
84
85
86
88
89
91
92
93
95
96
98
100
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
- 1086 / 1086
- 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: $8.6M of estimated gross traded notional, puts · 91+ days · itm, 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-27
1W price+0.2%
Call premium35%
Put premium65%
Notional split
C 35% / P 65%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
90/100
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 · ITM
puts cluster with 2102 contracts traded, $3.7M estimated gross traded notional, and 43% of visible notional.
$3.7M
Puts · 91+ days · OTM
puts cluster with 3785 contracts traded, $710310 estimated gross traded notional, and 8% of visible notional.
$710310
Calls · 8-21 days · ITM
calls cluster with 870 contracts traded, $698568 estimated gross traded notional, and 8% of visible notional.
$698568
Calls · 91+ days · ITM
calls cluster with 254 contracts traded, $449195 estimated gross traded notional, and 5% of visible notional.
$449195
Calls · 91+ days · OTM
calls cluster with 1218 contracts traded, $422720 estimated gross traded notional, and 5% of visible notional.
$422720
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close86.45
1W+0.2%
RS-4.7
Fair value+29.9%
Options pressure-27
Speculation41
Volatility29
Trend fit90
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 14:14
Mixed
Pressure -14
Move 2.3%
29 Jul 14:40
Bearish
Pressure -23
Move 2.3%
29 Jul 15:06
Mixed
Pressure -8
Move 2.2%
29 Jul 15:30
Mixed
Pressure -10
Move 2.1%
29 Jul 15:50
Mixed
Pressure -2
Move 2.1%
29 Jul 16:10
Mixed
Pressure -6
Move 2.3%
29 Jul 16:32
Mixed
Pressure -6
Move 2.4%
29 Jul 17:00
Mixed
Pressure -10
Move 2.2%
Strike Map
Where activity is clustering
Strike50.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 2
Puts · V 0 · OI 8
Strike60.00
Calls · V 0 · OI 6
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike70.00
Calls · V 2 · OI 5
Puts · V 0 · OI 1
Strike72.00
Calls · V 2 · OI 0
Puts · V 0 · OI 0
Strike73.00
Calls · V 0 · OI 0
Puts · V 0 · OI 26
Strike74.00
Calls · V 2 · OI 7
Puts · V 0 · OI 10
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts70
Avg IV0.26
Put-call1.16
Expiry14 Aug 2026
Contracts68
Avg IV0.24
Put-call0.68
Expiry21 Aug 2026
Contracts96
Avg IV0.24
Put-call0.96
Expiry28 Aug 2026
Contracts68
Avg IV0.24
Put-call0.10
Expiry4 Sep 2026
Contracts68
Avg IV0.24
Put-call0.07
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV0.22
Put IV0.28
Skew0.06
14 Aug 2026Balanced skew
Call IV0.22
Put IV0.27
Skew0.05
21 Aug 2026Put IV premium
Call IV0.22
Put IV0.28
Skew0.06
28 Aug 2026Put IV premium
Call IV0.21
Put IV0.27
Skew0.06
4 Sep 2026Balanced skew
Call IV0.24
Put IV0.26
Skew0.02
Contract Tape
Most active contracts
ContractWFC281215P00095000
SidePut
Expiry15 Dec 2028
Strike95.00
Volume2002
OI220
IV0.34
ContractWFC261016P00077500
SidePut
Expiry16 Oct 2026
Strike77.50
Volume1322
OI2168
IV0.32
ContractWFC260807P00083000
SidePut
Expiry7 Aug 2026
Strike83.00
Volume1263
OI866
IV0.29
ContractWFC261120P00077500
SidePut
Expiry20 Nov 2026
Strike77.50
Volume1197
OI2861
IV0.31
ContractWFC261120P00075000
SidePut
Expiry20 Nov 2026
Strike75.00
Volume844
OI5929
IV0.32
ContractWFC260807P00085000
SidePut
Expiry7 Aug 2026
Strike85.00
Volume820
OI628
IV0.29
ContractWFC260904C00089000
SideCall
Expiry4 Sep 2026
Strike89.00
Volume813
OI1
IV0.22
ContractWFC260807C00085000
SideCall
Expiry7 Aug 2026
Strike85.00
Volume768
OI287
IV0.22
Research Graph
Related research and context
Sharemaestro research
Related News
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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.