Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
AWK options intelligence
American Water Works options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
32
Market data through 12 Aug 2026
Checked 13 Aug 2026 06:54 · complete available chain
Options-market disagreement
Mixed pressure
AWK currently carries mixed options pressure with a 32/100 conviction score. The nearest-chain expected move is 2.7%, with volume/open-interest participation at 0.01.
Expected move
2.7%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
1.42
Put-side skew
Trend fit
78
Options agree with trend context
Weekly backdrop
+0.8%
RS -8.9
Expected move
2.7%
Put-call volume
1.42
Volume / OI
0.01
Reference IV
0.18
Max pain
135.00
Underlying
135.31
Nearest expiry
21 Aug 2026
Contracts
184
Research Brief
AWK has a mixed chain read with 32/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 131.66–138.96; The largest call open-interest concentration is 140.00; the largest put concentration is 135.00. The most active strike by current volume is 135.00.
Priced range131.66–138.96
Call concentration140.00
Put concentration135.00
Max pain reference135.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 131.66 to 138.96. Max pain at 135.00 sits inside that range, 0.2% below spot.
Spot
Max pain
131.66135.31 ± 3.65138.96
Confirmation level
A close beyond 138.96 or below 131.66 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 32/100
Pressure is 14/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure14 × 42%
+5.9
How strongly activity leans toward calls or puts.
Participation16 × 22%
+3.6
Volume relative to existing open interest and contract-level activity.
Trend agreement78 × 26%
+20.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility24 × 10%
+2.4
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 140.00; the largest put concentration is 135.00. The most active strike by current volume is 135.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
70.00-48.3%
0
0
75.00-44.6%
0
3
95.00-29.8%
0
0
100.00-26.1%
1
15
105.00-22.4%
0
4
110.00-18.7%
0
111
115.00-15.0%
0
283
120.00-11.3%
0
498
125.00-7.6%
0
393
130.00-3.9%
11
1132
135.00-0.2%
862
73
140.003.5%
1225
0
145.007.2%
924
0
150.0010.9%
40
0
155.0014.6%
2
0
160.0018.2%
3
0
180.0033.0%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$2.8MDelta change / 1% move
Positive peak140.00+$2.1M
Negative peak120.00-$208,429
Nearest balance131.23Interpolated sign change
StrikeNegativePositiveNet / 1% move
85.00-37.2%
-$98
90.00-33.5%
-$792
95.00-29.8%
-$419
100.00-26.1%
-$9,087
105.00-22.4%
-$20,936
110.00-18.7%
-$28,688
115.00-15.0%
-$128,109
120.00-11.3%
-$208,429
125.00-7.6%
-$42,673
130.00-3.9%
-$58,777
135.00-0.2%
+$179,663
140.003.5%
+$2.1M
145.007.2%
+$687,729
150.0010.9%
+$221,979
155.0014.6%
+$28,657
160.0018.2%
+$21,592
165.0021.9%
+$8,090
170.0025.6%
+$2,485
175.0029.3%
+$7,200
180.0033.0%
+$308
185.0036.7%
+$876
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.18
21 Aug
9d
0.21
18 Sep
37d
0.22
18 Dec
128d
0.22
19 Mar
219d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
110
115
120
125
130
135
140
145
150
155
160
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. 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
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 184 / 184
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $89,251 of estimated gross traded notional, calls · 22-45 days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-14
1W price+0.8%
Call premium67%
Put premium33%
Notional split
C 67% / P 33%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
78/100
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 · 22-45 days · ITM
calls cluster with 12 contracts traded, $26,660 estimated gross traded notional, and 30% of visible notional.
$26,660
Calls · 91+ days · ITM
calls cluster with 5 contracts traded, $14,390 estimated gross traded notional, and 16% of visible notional.
$14,390
Puts · 22-45 days · OTM
puts cluster with 75 contracts traded, $9,620 estimated gross traded notional, and 11% of visible notional.
$9,620
Puts · 22-45 days · ATM
puts cluster with 17 contracts traded, $5,695 estimated gross traded notional, and 6% of visible notional.
$5,695
Puts · 91+ days · OTM
puts cluster with 13 contracts traded, $5,655 estimated gross traded notional, and 6% of visible notional.
$5,655
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 11 completed sessions
Volume rank0th
Volume/OI rank0th
IV rank0th
Market Context
Underlying confirmation
Close135.31
1W+0.8%
RS-8.9
Fair value+4.9%
Options pressure-14
Speculation16
Volatility24
Trend fit78
Today Versus Normal
Stored-options context
30d avg 4.4% · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.24 · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 1.27 · 11 sessions
82th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.04 · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:16
Bearish
Pressure -51
Move 6.0%
30 Jul 10:12
Mixed
Pressure 14
Move 5.7%
31 Jul 05:06
Mixed
Pressure -12
Move 4.8%
2 Aug 06:36
Mixed
Pressure 7
Move 4.4%
4 Aug 10:04
Mixed
Pressure 0
Move 5.2%
5 Aug 10:12
Mixed
Pressure 8
Move 4.4%
6 Aug 10:12
Mixed
Pressure 11
Move 4.0%
7 Aug 10:47
Bearish
Pressure -31
Move 3.9%
Strike Map
Where activity is clustering
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike100.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 15
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts46
Avg IV0.18
Put-call1.50
Expiry18 Sep 2026
Contracts46
Avg IV0.21
Put-call1.66
Expiry18 Dec 2026
Contracts46
Avg IV0.22
Put-call1.08
Expiry19 Mar 2027
Contracts46
Avg IV0.22
Put-call0.22
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.20
Put IV0.24
Skew0.04
18 Sep 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
18 Dec 2026Balanced skew
Call IV0.21
Put IV0.24
Skew0.03
19 Mar 2027Balanced skew
Call IV0.21
Put IV0.26
Skew0.05
Contract Tape
Most active contracts
ContractAWK260918P00130000
SidePut
Expiry18 Sep 2026
Strike130.00
Volume56
OI719
IV0.22
ContractAWK260918C00140000
SideCall
Expiry18 Sep 2026
Strike140.00
Volume27
OI1334
IV0.20
ContractAWK260918P00135000
SidePut
Expiry18 Sep 2026
Strike135.00
Volume17
OI695
IV0.21
ContractAWK260918P00120000
SidePut
Expiry18 Sep 2026
Strike120.00
Volume13
OI918
IV0.25
ContractAWK261218P00130000
SidePut
Expiry18 Dec 2026
Strike130.00
Volume13
OI128
IV0.23
ContractAWK260918C00145000
SideCall
Expiry18 Sep 2026
Strike145.00
Volume10
OI1060
IV0.21
ContractAWK260821P00135000
SidePut
Expiry21 Aug 2026
Strike135.00
Volume9
OI1132
IV0.22
ContractAWK260821P00130000
SidePut
Expiry21 Aug 2026
Strike130.00
Volume9
OI393
IV0.24
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.