Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
JEF options intelligence
Jefferies Financial Group Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
59
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:12 · complete available chain
Put-side pressure
Bearish pressure
JEF currently carries bearish options pressure with a 59/100 conviction score. The nearest-chain expected move is 8.0%, with volume/open-interest participation at 0.05.
Expected move
8.0%
Wider near-term move priced
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
81.27
Put-side skew
Trend fit
35
Options are not fully confirming trend
Weekly backdrop
+1.8%
RS -5.3
Expected move
8.0%
Put-call volume
81.27
Volume / OI
0.05
Reference IV
0.42
Max pain
52.50
Underlying
55.86
Nearest expiry
21 Aug 2026
Contracts
300
Research Brief
JEF has a bearish chain read with 59/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 51.41–60.31; The largest call open-interest concentration is 60.00; the largest put concentration is 50.00. The most active strike by current volume is 65.00.
Priced range51.41–60.31
Call concentration60.00
Put concentration50.00
Max pain reference52.50
- 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 51.41 to 60.31. Max pain at 52.50 sits inside that range, 6.0% below spot.
Spot
Max pain
51.4155.86 ± 4.4560.31
Confirmation level
A close beyond 60.31 or below 51.41 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 59/100
Pressure is 100/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure100 × 42%
+42.0
How strongly activity leans toward calls or puts.
Participation9 × 22%
+2.0
Volume relative to existing open interest and contract-level activity.
Trend agreement35 × 26%
+9.2
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 60.00; the largest put concentration is 50.00. The most active strike by current volume is 65.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
16
37.50-32.9%
0
17
40.00-28.4%
3
51
42.50-23.9%
0
127
45.00-19.4%
17
52
47.50-15.0%
58
376
50.00-10.5%
136
126
52.50-6.0%
257
282
55.00-1.5%
168
50
57.502.9%
132
15
60.007.4%
299
9
62.5011.9%
255
4
65.0016.4%
150
0
67.5020.8%
15
0
70.0025.3%
8
0
72.5029.8%
0
0
75.0034.3%
0
0
80.0043.2%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.42
21 Aug
22d
0.40
18 Sep
50d
0.41
18 Dec
141d
0.41
15 Jan
169d
0.41
19 Mar
232d
0.43
21 Jan
540d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
45
48
50
53
55
58
60
63
65
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 300 / 300
- 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.
Put-side pressure is building while price is rising, a cautionary divergence.
Put-heavy activity matters because it connects the options headline to the actual evidence: $283998 of estimated gross traded notional, puts · 46-90 days · otm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-100
1W price+1.8%
Call premium2%
Put premium98%
Notional split
C 2% / P 98%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
35/100
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 · 46-90 days · OTM
puts cluster with 2095 contracts traded, $272210 estimated gross traded notional, and 96% of visible notional.
$272210
Puts · 91+ days · ITM
puts cluster with 1 contracts traded, $3495 estimated gross traded notional, and 1% of visible notional.
$3495
Puts · 91+ days · OTM
puts cluster with 5 contracts traded, $1430 estimated gross traded notional, and 1% of visible notional.
$1430
Calls · 91+ days · ITM
calls cluster with 2 contracts traded, $1400 estimated gross traded notional, and 0% of visible notional.
$1400
Calls · 91+ days · OTM
calls cluster with 3 contracts traded, $1365 estimated gross traded notional, and 0% of visible notional.
$1365
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
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close55.86
1W+1.8%
RS-5.3
Fair value+10.0%
Options pressure-100
Speculation9
Volatility62
Trend fit35
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:27
Mixed
Pressure -1
Move 9.3%
30 Jul 10:22
Bearish
Pressure -64
Move 8.6%
31 Jul 10:12
Bearish
Pressure -100
Move 8.0%
Strike Map
Where activity is clustering
Strike37.50
Calls · V 0 · OI 0
Puts · V 0 · OI 16
Strike40.00
Calls · V 0 · OI 3
Puts · V 0 · OI 17
Strike42.50
Calls · V 0 · OI 0
Puts · V 0 · OI 51
Strike45.00
Calls · V 0 · OI 17
Puts · V 10 · OI 127
Strike47.50
Calls · V 0 · OI 58
Puts · V 0 · OI 52
Strike50.00
Calls · V 0 · OI 136
Puts · V 0 · OI 376
Strike52.50
Calls · V 2 · OI 257
Puts · V 0 · OI 126
Strike55.00
Calls · V 0 · OI 168
Puts · V 0 · OI 282
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts40
Avg IV0.42
Put-call0.73
Expiry18 Sep 2026
Contracts52
Avg IV0.40
Put-call349.33
Expiry18 Dec 2026
Contracts44
Avg IV0.41
Put-call1.00
Expiry15 Jan 2027
Contracts70
Avg IV0.41
Put-call-
Expiry19 Mar 2027
Contracts36
Avg IV0.41
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.39
Put IV0.44
Skew0.06
18 Sep 2026Put IV premium
Call IV0.36
Put IV0.42
Skew0.07
18 Dec 2026Put IV premium
Call IV0.37
Put IV0.44
Skew0.08
15 Jan 2027Put IV premium
Call IV0.38
Put IV0.45
Skew0.08
19 Mar 2027Put IV premium
Call IV0.39
Put IV0.46
Skew0.08
Contract Tape
Most active contracts
ContractJEF260918P00050000
SidePut
Expiry18 Sep 2026
Strike50.00
Volume2093
OI4318
IV0.42
ContractJEF260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume10
OI150
IV0.28
ContractJEF260821P00045000
SidePut
Expiry21 Aug 2026
Strike45.00
Volume10
OI127
IV0.66
ContractJEF260918C00057500
SideCall
Expiry18 Sep 2026
Strike57.50
Volume5
OI223
IV0.38
ContractJEF261218C00057500
SideCall
Expiry18 Dec 2026
Strike57.50
Volume3
OI4
IV0.39
ContractJEF261218P00045000
SidePut
Expiry18 Dec 2026
Strike45.00
Volume2
OI419
IV0.46
ContractJEF260821C00060000
SideCall
Expiry21 Aug 2026
Strike60.00
Volume2
OI299
IV0.39
ContractJEF260821C00052500
SideCall
Expiry21 Aug 2026
Strike52.50
Volume2
OI257
IV0.44
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
Jefferies Financial Group Inc (JEF) faces earnings after 57.0% twelve-week advance24 Jun 2026 19:30
Jefferies Financial Group Inc (JEF) faces June 24 results after a 57.0% twelve-week run23 Jun 2026 20:45
Jefferies Financial Group Inc (JEF) faces June 24 earnings after a 57.0% twelve-week climb22 Jun 2026 14:45
Jefferies Financial Group Inc (JEF) brings a 63.0% 12-week surge to earnings week18 Jun 2026 12:37
Jefferies Financial Group Inc (JEF) heads into earnings after 63.0% 12-week advance17 Jun 2026 18:22
Earnings
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.