Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SHW options intelligence
Sherwin-Williams Co options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 31 Jul 2026
Checked 1 Aug 2026 01:16 · complete available chain
Call-side pressure
Bullish pressure
SHW currently carries bullish options pressure with a 37/100 conviction score. The nearest-chain expected move is 8.0%, with volume/open-interest participation at 0.09.
Expected move
8.0%
Wider near-term move priced
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
0.63
Call-side skew
Trend fit
50
Options are not fully confirming trend
Weekly backdrop
-4.2%
RS -12.8
Expected move
8.0%
Put-call volume
0.63
Volume / OI
0.09
Reference IV
0.38
Max pain
330.00
Underlying
317.51
Nearest expiry
21 Aug 2026
Contracts
363
Research Brief
SHW has a bullish chain read with 37/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 292.04–342.98; The largest call open-interest concentration is 360.00; the largest put concentration is 300.00. The most active strike by current volume is 360.00.
Priced range292.04–342.98
Call concentration360.00
Put concentration300.00
Max pain reference330.00
- 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 292.04 to 342.98. Max pain at 330.00 sits inside that range, 3.9% above spot.
Spot
Max pain
292.04317.51 ± 25.47342.98
Confirmation level
A close beyond 342.98 or below 292.04 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 37/100
Pressure is 21/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure21 × 42%
+9.0
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.3
Volume relative to existing open interest and contract-level activity.
Trend agreement50 × 26%
+13.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility59 × 10%
+5.9
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 360.00; the largest put concentration is 300.00. The most active strike by current volume is 360.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
48
240.00-24.4%
0
176
250.00-21.3%
0
29
260.00-18.1%
0
253
270.00-15.0%
2
64
280.00-11.8%
1
513
290.00-8.7%
0
4196
300.00-5.5%
7
231
310.00-2.4%
90
409
320.000.8%
46
254
330.003.9%
511
165
340.007.1%
181
84
350.0010.2%
545
8
360.0013.4%
685
1
370.0016.5%
251
0
380.0019.7%
239
0
390.0022.8%
35
0
400.0026.0%
40
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.
0.38
21 Aug
21d
0.27
18 Sep
49d
0.32
18 Dec
140d
0.31
15 Jan
168d
0.30
19 Mar
231d
0.33
17 Jun
321d
0.30
21 Jan
539d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
260
270
280
290
300
310
320
330
340
350
360
370
380
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 quotes99%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 363 / 363
- 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: $3.7M of estimated gross traded notional, calls · 91+ days · itm, 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+21
1W price-4.2%
Call premium60%
Put premium40%
Notional split
C 60% / P 40%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.09
Volume divided by open interest across the visible chain.
Trend fit
50/100
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 · ITM
calls cluster with 118 contracts traded, $1.2M estimated gross traded notional, and 33% of visible notional.
$1.2M
Puts · 91+ days · ATM
puts cluster with 199 contracts traded, $587265 estimated gross traded notional, and 16% of visible notional.
$587265
Calls · 91+ days · OTM
calls cluster with 492 contracts traded, $477424 estimated gross traded notional, and 13% of visible notional.
$477424
Puts · 91+ days · ITM
puts cluster with 68 contracts traded, $388595 estimated gross traded notional, and 10% of visible notional.
$388595
Puts · 46-90 days · ITM
puts cluster with 104 contracts traded, $271720 estimated gross traded notional, and 7% of visible notional.
$271720
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.
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
Close317.51
1W-4.2%
RS-12.8
Fair value-2.5%
Options pressure21
Speculation42
Volatility59
Trend fit50
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 10:04
Bullish
Pressure 33
Move 12.0%
30 Jul 10:03
Mixed
Pressure -3
Move 9.0%
31 Jul 10:01
Bullish
Pressure 25
Move 9.0%
31 Jul 17:25
Mixed
Pressure 1
Move 8.0%
31 Jul 19:41
Bullish
Pressure 21
Move 8.0%
31 Jul 23:31
Bullish
Pressure 21
Move 8.0%
1 Aug 00:16
Bullish
Pressure 21
Move 8.0%
Strike Map
Where activity is clustering
Strike190.00
Calls · V 0 · OI 0
Puts · V 2 · OI 2
Strike195.00
Calls · V 0 · OI 0
Puts · V 0 · OI 13
Strike200.00
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike210.00
Calls · V 1 · OI 1
Puts · V 0 · OI 1
Strike220.00
Calls · V 0 · OI 0
Puts · V 6 · OI 14
Strike230.00
Calls · V 0 · OI 0
Puts · V 2 · OI 22
Strike240.00
Calls · V 0 · OI 0
Puts · V 1 · OI 48
Strike250.00
Calls · V 0 · OI 0
Puts · V 1 · OI 176
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts42
Avg IV0.38
Put-call0.33
Expiry18 Sep 2026
Contracts61
Avg IV0.27
Put-call0.77
Expiry18 Dec 2026
Contracts75
Avg IV0.32
Put-call0.45
Expiry15 Jan 2027
Contracts67
Avg IV0.31
Put-call0.32
Expiry19 Mar 2027
Contracts47
Avg IV0.30
Put-call1.51
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.32
Put IV0.49
Skew0.17
18 Sep 2026Balanced skew
Call IV0.30
Put IV0.32
Skew0.02
18 Dec 2026Balanced skew
Call IV0.32
Put IV0.31
Skew-0.02
15 Jan 2027Balanced skew
Call IV0.32
Put IV0.29
Skew-0.03
19 Mar 2027Balanced skew
Call IV0.34
Put IV0.30
Skew-0.03
Contract Tape
Most active contracts
ContractSHW270319C00420000
SideCall
Expiry19 Mar 2027
Strike420.00
Volume-
OI50
IV0.31
ContractSHW270617P00280000
SidePut
Expiry17 Jun 2027
Strike280.00
Volume-
OI27
IV0.32
ContractSHW260821P00195000
SidePut
Expiry21 Aug 2026
Strike195.00
Volume-
OI13
IV0.92
ContractSHW260821P00200000
SidePut
Expiry21 Aug 2026
Strike200.00
Volume-
OI8
IV0.88
ContractSHW261218C00195000
SideCall
Expiry18 Dec 2026
Strike195.00
Volume-
OI7
IV1.75
ContractSHW280121P00150000
SidePut
Expiry21 Jan 2028
Strike150.00
Volume-
OI4
IV0.46
ContractSHW261218C00160000
SideCall
Expiry18 Dec 2026
Strike160.00
Volume-
OI3
IV2.31
ContractSHW261218C00155000
SideCall
Expiry18 Dec 2026
Strike155.00
Volume-
OI2
IV2.39
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.