Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
LKQ options intelligence
LKQ Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 31 Jul 2026
Checked 2 Aug 2026 00:17 · complete available chain
Call-side pressure
Bullish pressure
LKQ currently carries bullish options pressure with a 51/100 conviction score. The nearest-chain expected move is 7.1%, with volume/open-interest participation at 0.06.
Expected move
7.1%
Wider near-term move priced
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.14
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-13.1%
RS -30.2
Expected move
7.1%
Put-call volume
0.14
Volume / OI
0.06
Reference IV
0.48
Max pain
27.50
Underlying
22.45
Nearest expiry
21 Aug 2026
Contracts
186
Research Brief
LKQ has a bullish chain read with 51/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 20.85–24.05; The largest call open-interest concentration is 27.50; the largest put concentration is 25.00. The most active strike by current volume is 27.50.
Priced range20.85–24.05
Call concentration27.50
Put concentration25.00
Max pain reference27.50
- 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 20.85 to 24.05. Max pain at 27.50 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
20.8522.45 ± 1.6024.05
Confirmation level
A close beyond 24.05 or below 20.85 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 51/100
Pressure is 86/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure86 × 42%
+36.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility62 × 10%
+6.2
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 27.50; the largest put concentration is 25.00. The most active strike by current volume is 27.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
15.00-33.2%
0
40
17.50-22.0%
5
193
20.00-10.9%
3
239
22.500.2%
38
1166
25.0011.4%
125
59
27.5022.5%
4493
79
30.0033.6%
4274
63
32.5044.8%
506
21
35.0055.9%
126
1
37.5067.0%
272
1
40.0078.2%
38
0
42.5089.3%
48
0
45.00100.4%
4
0
47.50111.6%
1
0
50.00122.7%
4
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.
0.48
21 Aug
21d
0.43
18 Sep
49d
0.37
20 Nov
112d
0.31
18 Dec
140d
0.30
15 Jan
168d
0.27
19 Feb
203d
0.37
21 Jan
539d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
20
23
25
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
- 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
- 186 / 186
- 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
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $64171 of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+86
1W price-13.1%
Call premium74%
Put premium26%
Notional split
C 74% / P 26%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 91+ days · OTM
calls cluster with 465 contracts traded, $32540 estimated gross traded notional, and 51% of visible notional.
$32540
Puts · 91+ days · OTM
puts cluster with 62 contracts traded, $7285 estimated gross traded notional, and 11% of visible notional.
$7285
Calls · 46-90 days · OTM
calls cluster with 350 contracts traded, $6125 estimated gross traded notional, and 10% of visible notional.
$6125
Puts · 8-21 days · ATM
puts cluster with 68 contracts traded, $5950 estimated gross traded notional, and 9% of visible notional.
$5950
Calls · 8-21 days · ATM
calls cluster with 59 contracts traded, $4278 estimated gross traded notional, and 7% of visible notional.
$4278
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.
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
Close22.45
1W-13.1%
RS-30.2
Fair value-38.6%
Options pressure86
Speculation41
Volatility62
Trend fit0
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 10:33
Volatility
Pressure 100
Move 13.7%
30 Jul 05:13
Bullish
Pressure 37
Move 12.0%
31 Jul 11:53
Volatility
Pressure 68
Move 11.9%
31 Jul 15:29
Volatility
Pressure 74
Move 12.7%
1 Aug 05:16
Volatility
Pressure 86
Move 12.7%
1 Aug 23:17
Bullish
Pressure 86
Move 7.1%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike17.50
Calls · V 0 · OI 5
Puts · V 0 · OI 40
Strike20.00
Calls · V 0 · OI 3
Puts · V 6 · OI 193
Strike22.50
Calls · V 59 · OI 38
Puts · V 68 · OI 239
Strike25.00
Calls · V 2 · OI 125
Puts · V 3 · OI 1166
Strike27.50
Calls · V 213 · OI 4493
Puts · V 0 · OI 59
Strike30.00
Calls · V 7 · OI 4274
Puts · V 0 · OI 79
Strike32.50
Calls · V 2 · OI 506
Puts · V 0 · OI 63
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts30
Avg IV0.48
Put-call0.27
Expiry18 Sep 2026
Contracts22
Avg IV0.43
Put-call0.03
Expiry20 Nov 2026
Contracts24
Avg IV0.37
Put-call0.03
Expiry18 Dec 2026
Contracts30
Avg IV0.31
Put-call0.36
Expiry15 Jan 2027
Contracts30
Avg IV0.30
Put-call0.01
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.41
Put IV0.24
Skew-0.18
18 Sep 2026Balanced skew
Call IV0.37
Put IV0.41
Skew0.05
20 Nov 2026Call IV premium
Call IV0.38
Put IV0.11
Skew-0.26
18 Dec 2026Put IV premium
Call IV0.36
Put IV0.45
Skew0.10
15 Jan 2027Call IV premium
Call IV0.34
Put IV0.09
Skew-0.24
Contract Tape
Most active contracts
ContractLKQ260918C00027500
SideCall
Expiry18 Sep 2026
Strike27.50
Volume350
OI394
IV0.41
ContractLKQ260821C00027500
SideCall
Expiry21 Aug 2026
Strike27.50
Volume213
OI4493
IV0.38
ContractLKQ270115C00027500
SideCall
Expiry15 Jan 2027
Strike27.50
Volume179
OI10
IV0.34
ContractLKQ261120C00025000
SideCall
Expiry20 Nov 2026
Strike25.00
Volume112
OI26
IV0.42
ContractLKQ261218C00030000
SideCall
Expiry18 Dec 2026
Strike30.00
Volume102
OI2296
IV0.38
ContractLKQ260821P00022500
SidePut
Expiry21 Aug 2026
Strike22.50
Volume68
OI239
IV0.41
ContractLKQ260821C00022500
SideCall
Expiry21 Aug 2026
Strike22.50
Volume59
OI38
IV0.34
ContractLKQ261218P00020000
SidePut
Expiry18 Dec 2026
Strike20.00
Volume58
OI7
IV0.45
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.