Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
WMS options intelligence
Advanced Drainage Systems Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 31 Jul 2026 15:30 · complete available chain
Call-side pressure
Bullish pressure
WMS currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 9.9%, with volume/open-interest participation at 0.17.
Expected move
9.9%
Wider near-term move priced
Activity / OI
0.17
Current volume is quieter versus prior open interest
Put-call
0.16
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-3.9%
RS -9.9
Expected move
9.9%
Put-call volume
0.16
Volume / OI
0.17
Reference IV
0.56
Max pain
140.00
Underlying
141.84
Nearest expiry
21 Aug 2026
Contracts
104
Research Brief
WMS has a bullish chain read with 45/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 127.84–155.84; The largest call open-interest concentration is 170.00; the largest put concentration is 140.00. The most active strike by current volume is 140.00.
Priced range127.84–155.84
Call concentration170.00
Put concentration140.00
Max pain reference140.00
- 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 127.84 to 155.84. Max pain at 140.00 sits inside that range, 1.3% below spot.
Spot
Max pain
127.84141.84 ± 14.00155.84
Confirmation level
A close beyond 155.84 or below 127.84 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 45/100
Pressure is 73/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure73 × 42%
+30.8
How strongly activity leans toward calls or puts.
Participation28 × 22%
+6.1
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility79 × 10%
+7.9
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 170.00; the largest put concentration is 140.00. The most active strike by current volume is 140.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
4
90.00-36.5%
0
3
115.00-18.9%
0
4
120.00-15.4%
0
5
125.00-11.9%
0
2
130.00-8.3%
0
4
135.00-4.8%
0
1105
140.00-1.3%
9
1
145.002.2%
8
1
150.005.8%
5
0
155.009.3%
5
0
160.0012.8%
2
0
165.0016.3%
2
0
170.0019.9%
14
0
180.0026.9%
4
0
185.0030.4%
2
0
190.0034.0%
1
0
195.0037.5%
1
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.
0.56
21 Aug
21d
0.58
18 Sep
49d
0.46
18 Dec
140d
0.48
19 Mar
231d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
115
120
125
130
135
140
145
150
155
160
165
170
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
- 104 / 104
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $917804 of estimated gross traded notional, calls · 46-90 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+73
1W price-3.9%
Call premium96%
Put premium4%
Notional split
C 96% / P 4%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.17
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 46-90 days · ITM
calls cluster with 279 contracts traded, $810445 estimated gross traded notional, and 88% of visible notional.
$810445
Calls · 91+ days · OTM
calls cluster with 57 contracts traded, $25872 estimated gross traded notional, and 3% of visible notional.
$25872
Calls · 91+ days · ATM
calls cluster with 10 contracts traded, $14150 estimated gross traded notional, and 2% of visible notional.
$14150
Puts · 46-90 days · ATM
puts cluster with 12 contracts traded, $12710 estimated gross traded notional, and 1% of visible notional.
$12710
Calls · 46-90 days · OTM
calls cluster with 28 contracts traded, $10480 estimated gross traded notional, and 1% of visible notional.
$10480
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.
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
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
Close141.84
1W-3.9%
RS-9.9
Fair value+2.8%
Options pressure73
Speculation28
Volatility79
Trend fit0
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 10:27
Volatility
Pressure 69
Move 11.0%
30 Jul 10:22
Volatility
Pressure 100
Move 10.9%
31 Jul 13:14
Bullish
Pressure 58
Move 10.3%
31 Jul 14:30
Bullish
Pressure 73
Move 9.9%
Strike Map
Where activity is clustering
Strike90.00
Calls · V 0 · OI 0
Puts · V 1 · OI 4
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike115.00
Calls · V 0 · OI 0
Puts · V 2 · OI 3
Strike120.00
Calls · V 0 · OI 0
Puts · V 1 · OI 4
Strike125.00
Calls · V 0 · OI 0
Puts · V 1 · OI 5
Strike130.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike135.00
Calls · V 0 · OI 0
Puts · V 1 · OI 4
Strike140.00
Calls · V 5 · OI 9
Puts · V 6 · OI 1105
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts23
Avg IV0.56
Put-call0.68
Expiry18 Sep 2026
Contracts48
Avg IV0.58
Put-call0.11
Expiry18 Dec 2026
Contracts31
Avg IV0.46
Put-call0.19
Expiry19 Mar 2027
Contracts2
Avg IV0.48
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.51
Put IV0.56
Skew0.05
18 Sep 2026Balanced skew
Call IV0.49
Put IV0.52
Skew0.04
18 Dec 2026Balanced skew
Call IV0.49
Put IV0.48
Skew-0.01
19 Mar 2027Incomplete skew
Call IV0.49
Put IV-
Skew-
Contract Tape
Most active contracts
ContractWMS261218P00130000
SidePut
Expiry18 Dec 2026
Strike130.00
Volume-
OI13
IV0.48
ContractWMS261218P00140000
SidePut
Expiry18 Dec 2026
Strike140.00
Volume-
OI13
IV0.46
ContractWMS261218C00185000
SideCall
Expiry18 Dec 2026
Strike185.00
Volume-
OI9
IV0.50
ContractWMS260918P00180000
SidePut
Expiry18 Sep 2026
Strike180.00
Volume-
OI6
IV0.62
ContractWMS260821C00180000
SideCall
Expiry21 Aug 2026
Strike180.00
Volume-
OI4
IV0.79
ContractWMS260918P00160000
SidePut
Expiry18 Sep 2026
Strike160.00
Volume-
OI3
IV0.39
ContractWMS261218P00110000
SidePut
Expiry18 Dec 2026
Strike110.00
Volume-
OI2
IV0.54
ContractWMS260918P00185000
SidePut
Expiry18 Sep 2026
Strike185.00
Volume-
OI2
IV0.62
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
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.