Ticker Options Intelligence

CALY options intelligence

Callaway Golf Company options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 51 Market data through 31 Jul 2026 Checked 2 Aug 2026 02:45 · complete available chain

Volatility expansion watch

Volatility pressure

CALY currently carries volatility options pressure with a 51/100 conviction score. The nearest-chain expected move is 13.7%, with volume/open-interest participation at 0.04.

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

Volatility expansion watch

Expected move 13.7%

Wider near-term move priced

Activity / OI 0.04

Current volume is quieter versus prior open interest

Put-call 34.58

Put-side skew

Trend fit 6

Options are not fully confirming trend

Weekly backdrop +1.7%

RS 28.4

Expected move 13.7%
Put-call volume 34.58
Volume / OI 0.04
Reference IV 0.68
Max pain 15.00
Underlying 18.46
Nearest expiry 21 Aug 2026
Contracts 142

Research Brief

CALY has a volatility 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 15.93–20.99; The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 12.50.

Priced range15.93–20.99
Call concentration20.00
Put concentration15.00
Max pain reference15.00
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 21 Aug

Options imply 15.93 to 20.99. Max pain at 15.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
15.9318.46 ± 2.5320.99
Confirmation level

A close beyond 20.99 or below 15.93 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

Evidence alignment, not probability

Pressure is 90/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure90 × 42%
+38.0

How strongly activity leans toward calls or puts.

Participation12 × 22%
+2.7

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

Trend agreement6 × 26%
+1.6

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

Volatility87 × 10%
+8.7

The intensity of implied volatility and the priced move.

Reconstructed score51.1Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 12.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
1
2.50-86.5%
0
201
5.00-72.9%
4
5
7.50-59.4%
2
36
10.00-45.8%
25
456
12.50-32.3%
19
1678
15.00-18.7%
279
165
17.50-5.2%
285
55
20.008.3%
678
11
22.5021.9%
430
7
25.0035.4%
130
0
30.0062.5%
10
0
35.0089.6%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.17× front/back

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

0.68 21 Aug 21d
0.60 18 Sep 49d
0.59 20 Nov 112d
0.57 15 Jan 168d
0.57 19 Feb 203d
0.58 21 Jan 539d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

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

15
18
20
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 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

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
142 / 142
  • 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

Earnings/event positioning

94/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $10300 of estimated gross traded notional, puts · 8-21 days · itm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-90
1W price+1.7%
Call premium7%
Put premium93%
Notional split C 7% / P 93% 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 6/100 Agreement between options pressure and Sharemaestro market context.
Event window 5 Aug Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 8-21 days · ITM
Puts · 8-21 days · ITM puts cluster with 14 contracts traded, $7240 estimated gross traded notional, and 70% of visible notional.
$7240
Puts · 8-21 days · OTM puts cluster with 400 contracts traded, $2000 estimated gross traded notional, and 19% of visible notional.
$2000
Calls · 8-21 days · OTM calls cluster with 11 contracts traded, $653 estimated gross traded notional, and 6% of visible notional.
$653
Puts · 91+ days · OTM puts cluster with 1 contracts traded, $295 estimated gross traded notional, and 3% of visible notional.
$295
Calls · 91+ days · OTM calls cluster with 1 contracts traded, $112 estimated gross traded notional, and 1% of visible notional.
$112

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

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

Sharemaestro weekly
Close18.46
1W+1.7%
RS28.4
Fair value+52.7%
Options pressure-90
Speculation12
Volatility87
Trend fit6

Today Versus Normal

Stored-options context

View history
Expected move 13.7% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.68 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 34.58 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.04 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 10:55 Volatility
Pressure 61
Move 14.2%
30 Jul 10:45 Volatility
Pressure 100
Move 14.5%
31 Jul 10:31 Mixed
Pressure -15
Move 14.7%
1 Aug 04:35 Volatility
Pressure -90
Move 13.9%
2 Aug 05:17 Volatility
Pressure -90
Move 13.7%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike5.00
Calls · V 0 · OI 4
Puts · V 0 · OI 201
Strike7.50
Calls · V 0 · OI 2
Puts · V 0 · OI 5
Strike10.00
Calls · V 0 · OI 25
Puts · V 0 · OI 36
Strike12.50
Calls · V 0 · OI 19
Puts · V 400 · OI 456
Strike15.00
Calls · V 0 · OI 279
Puts · V 0 · OI 1678
Strike17.50
Calls · V 0 · OI 285
Puts · V 0 · OI 165
Strike20.00
Calls · V 10 · OI 678
Puts · V 4 · OI 55

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts24
Avg IV0.68
Put-call37.64
Expiry18 Sep 2026
Contracts24
Avg IV0.60
Put-call-
Expiry20 Nov 2026
Contracts24
Avg IV0.59
Put-call-
Expiry15 Jan 2027
Contracts24
Avg IV0.57
Put-call-
Expiry19 Feb 2027
Contracts22
Avg IV0.57
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV0.69
Put IV0.66
Skew-0.03
18 Sep 2026Put IV premium
Call IV0.55
Put IV0.64
Skew0.09
20 Nov 2026Put IV premium
Call IV0.53
Put IV0.59
Skew0.06
15 Jan 2027Put IV premium
Call IV0.50
Put IV0.59
Skew0.09
19 Feb 2027Balanced skew
Call IV0.54
Put IV0.58
Skew0.04

Contract Tape

Most active contracts

Full contract tape
ContractCALY260821P00012500
SidePut
Expiry21 Aug 2026
Strike12.50
Volume400
OI456
IV0.72
ContractCALY260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume10
OI678
IV0.69
ContractCALY260821P00025000
SidePut
Expiry21 Aug 2026
Strike25.00
Volume10
OI7
IV0.01
ContractCALY260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume4
OI55
IV0.66
ContractCALY260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume1
OI130
IV0.54
ContractCALY261120C00022500
SideCall
Expiry20 Nov 2026
Strike22.50
Volume1
OI112
IV0.58
ContractCALY280121P00015000
SidePut
Expiry21 Jan 2028
Strike15.00
Volume1
OI11
IV0.62
ContractCALY260821P00015000
SidePut
Expiry21 Aug 2026
Strike15.00
Volume-
OI1678
IV0.78