Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
WFG options intelligence
West Fraser Timber Co Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
57
Market data through 31 Jul 2026
Checked 1 Aug 2026 20:11 · complete available chain
Put-side pressure
Bearish pressure
WFG currently carries bearish options pressure with a 57/100 conviction score. The nearest-chain expected move is 16.7%, with volume/open-interest participation at 0.04.
Expected move
16.7%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
30
Options are not fully confirming trend
Weekly backdrop
-2.0%
RS -10.0
Expected move
16.7%
Put-call volume
-
Volume / OI
0.04
Reference IV
0.19
Max pain
70.00
Underlying
64.85
Nearest expiry
21 Aug 2026
Contracts
182
Research Brief
WFG has a bearish chain read with 57/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 54.00–75.70; The largest call open-interest concentration is 70.00; the largest put concentration is 70.00. The most active strike by current volume is 55.00.
Priced range54.00–75.70
Call concentration70.00
Put concentration70.00
Max pain reference70.00
- Price remains weak while put-side concentration persists.
- Price recovers while put pressure fades or reverses toward calls.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 54.00 to 75.70. Max pain at 70.00 sits inside that range, 7.9% above spot.
Spot
Max pain
54.0064.85 ± 10.8575.70
Confirmation level
A close beyond 75.70 or below 54.00 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 57/100
Pressure is 97/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure97 × 42%
+40.9
How strongly activity leans toward calls or puts.
Participation14 × 22%
+3.0
Volume relative to existing open interest and contract-level activity.
Trend agreement30 × 26%
+7.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility54 × 10%
+5.4
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 70.00; the largest put concentration is 70.00. The most active strike by current volume is 55.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
30.00-53.7%
0
0
35.00-46.0%
0
0
40.00-38.3%
0
3
45.00-30.6%
0
3
50.00-22.9%
0
5
55.00-15.2%
1
11
60.00-7.5%
4
11
65.000.2%
1
18
70.007.9%
22
0
75.0015.7%
11
0
80.0023.4%
9
0
85.0031.1%
1
0
90.0038.8%
0
0
95.0046.5%
0
0
100.0054.2%
0
0
105.0061.9%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.19
21 Aug
21d
0.22
18 Sep
49d
0.31
20 Nov
112d
0.29
18 Dec
140d
0.32
15 Jan
168d
0.32
19 Feb
203d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
55
60
65
70
75
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
- 182 / 182
- 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.
Options pressure and weekly price action are both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $80 of estimated gross traded notional, puts · 8-21 days · otm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-97
1W price-2.0%
Call premium0%
Put premium100%
Notional split
C 0% / P 100%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
Volume divided by open interest across the visible chain.
Trend fit
30/100
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 · 8-21 days · OTM
puts cluster with 8 contracts traded, $80 estimated gross traded notional, and 100% of visible notional.
$80
Setup Classification
Opportunity and risk frame
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
Close64.85
1W-2.0%
RS-10.0
Fair value-12.6%
Options pressure-97
Speculation14
Volatility54
Trend fit30
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 - · 1/10 sessions
-
90d avg - · 1/30 sessions
-
180d avg - · 1/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:38
Mixed
Pressure 3
Move 8.3%
30 Jul 10:35
Bearish
Pressure -97
Move 8.7%
31 Jul 13:32
Mixed
Pressure 10
Move 9.6%
31 Jul 17:02
Mixed
Pressure 11
Move 18.1%
31 Jul 17:31
Mixed
Pressure 11
Move 18.1%
31 Jul 18:32
Mixed
Pressure 0
Move 16.4%
31 Jul 19:41
Mixed
Pressure 0
Move 16.4%
31 Jul 20:52
Mixed
Pressure 0
Move 16.4%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike55.00
Calls · V 0 · OI 1
Puts · V 8 · OI 5
Strike60.00
Calls · V 0 · OI 4
Puts · V 0 · OI 11
Strike65.00
Calls · V 0 · OI 1
Puts · V 0 · OI 11
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts32
Avg IV0.19
Put-call-
Expiry18 Sep 2026
Contracts30
Avg IV0.22
Put-call-
Expiry20 Nov 2026
Contracts28
Avg IV0.31
Put-call-
Expiry18 Dec 2026
Contracts32
Avg IV0.29
Put-call-
Expiry15 Jan 2027
Contracts32
Avg IV0.32
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.01
Put IV0.15
Skew0.14
18 Sep 2026Balanced skew
Call IV0.08
Put IV0.10
Skew0.02
20 Nov 2026Put IV premium
Call IV0.30
Put IV0.36
Skew0.06
18 Dec 2026Put IV premium
Call IV0.28
Put IV0.37
Skew0.09
15 Jan 2027Put IV premium
Call IV0.27
Put IV0.37
Skew0.10
Contract Tape
Most active contracts
ContractWFG260821P00055000
SidePut
Expiry21 Aug 2026
Strike55.00
Volume8
OI5
IV0.29
ContractWFG260821C00070000
SideCall
Expiry21 Aug 2026
Strike70.00
Volume-
OI22
IV0.14
ContractWFG260821P00070000
SidePut
Expiry21 Aug 2026
Strike70.00
Volume-
OI18
IV0.38
ContractWFG270115C00075000
SideCall
Expiry15 Jan 2027
Strike75.00
Volume-
OI13
IV0.08
ContractWFG261218C00060000
SideCall
Expiry18 Dec 2026
Strike60.00
Volume-
OI11
IV0.30
ContractWFG260821P00060000
SidePut
Expiry21 Aug 2026
Strike60.00
Volume-
OI11
IV0.15
ContractWFG260821P00065000
SidePut
Expiry21 Aug 2026
Strike65.00
Volume-
OI11
IV0.40
ContractWFG260821C00075000
SideCall
Expiry21 Aug 2026
Strike75.00
Volume-
OI11
IV0.25
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.