Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
PKX options intelligence
POSCO Holdings Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
54
Market data through 12 Aug 2026
Checked 13 Aug 2026 11:26 · complete available chain
Put-side pressure
Bearish pressure
PKX currently carries bearish options pressure with a 54/100 conviction score. The nearest-chain expected move is 6.2%, with volume/open-interest participation at 0.02.
Expected move
6.2%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
20.00
Put-side skew
Trend fit
43
Options are not fully confirming trend
Weekly backdrop
+8.7%
RS -11.3
Expected move
6.2%
Put-call volume
20.00
Volume / OI
0.02
Reference IV
0.35
Max pain
55.00
Underlying
57.77
Nearest expiry
21 Aug 2026
Contracts
130
Research Brief
PKX has a bearish chain read with 54/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 54.20–61.34; The largest call open-interest concentration is 55.00; the largest put concentration is 45.00. The most active strike by current volume is 45.00.
Priced range54.20–61.34
Call concentration55.00
Put concentration45.00
Max pain reference55.00
- 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 54.20 to 61.34. Max pain at 55.00 sits inside that range, 4.8% below spot.
Spot
Max pain
54.2057.77 ± 3.5761.34
Confirmation level
A close beyond 61.34 or below 54.20 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 54/100
Pressure is 85/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure85 × 42%
+35.7
How strongly activity leans toward calls or puts.
Participation9 × 22%
+1.9
Volume relative to existing open interest and contract-level activity.
Trend agreement43 × 26%
+11.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility50 × 10%
+5.0
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 55.00; the largest put concentration is 45.00. The most active strike by current volume is 45.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
30.00-48.1%
40
3
35.00-39.4%
10
6
40.00-30.8%
0
53
45.00-22.1%
7
22
50.00-13.4%
4
26
55.00-4.8%
239
32
60.003.9%
16
3
65.0012.5%
179
0
70.0021.2%
73
1
75.0029.8%
19
0
80.0038.5%
9
0
85.0047.1%
34
5
90.0055.8%
5
0
95.0064.4%
0
0
100.0073.1%
1
0
105.0081.8%
0
0
110.0090.4%
0
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+$44,490Delta change / 1% move
Positive peak55.00+$58,836
Negative peak65.00-$11,123
Nearest balance59.54Interpolated sign change
StrikeNegativePositiveNet / 1% move
30.00-48.1%
+$341
35.00-39.4%
+$186
40.00-30.8%
-$850
45.00-22.1%
-$350
50.00-13.4%
-$5,070
55.00-4.8%
+$58,836
60.003.9%
-$5,911
65.0012.5%
-$11,123
70.0021.2%
+$994
75.0029.8%
+$351
80.0038.5%
+$144
85.0047.1%
+$193
90.0055.8%
+$335
95.0064.4%
+$86
100.0073.1%
+$6,302
105.0081.8%
+$8
110.0090.4%
+$13
120.00107.7%
+$3
125.00116.4%
+$2
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.
0.35
21 Aug
9d
0.40
18 Sep
37d
0.45
20 Nov
100d
0.46
19 Feb
191d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
50
55
60
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
- 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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 130 / 130
- 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: $1,018 of estimated gross traded notional, puts · 91+ 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-85
1W price+8.7%
Call premium1%
Put premium99%
Notional split
C 1% / P 99%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
43/100
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 · 91+ days · OTM
puts cluster with 5 contracts traded, $750 estimated gross traded notional, and 74% of visible notional.
$750
Puts · 8-21 days · OTM
puts cluster with 34 contracts traded, $170 estimated gross traded notional, and 17% of visible notional.
$170
Puts · 22-45 days · OTM
puts cluster with 1 contracts traded, $90 estimated gross traded notional, and 9% of visible notional.
$90
Calls · 8-21 days · OTM
calls cluster with 2 contracts traded, $8 estimated gross traded notional, and 1% of visible notional.
$8
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 11 completed sessions
Volume rank73th
Volume/OI rank73th
IV rank9th
Market Context
Underlying confirmation
Close57.77
1W+8.7%
RS-11.3
Fair value-7.1%
Options pressure-85
Speculation9
Volatility50
Trend fit43
Today Versus Normal
Stored-options context
30d avg 7.9% · 11 sessions
27th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.50 · 11 sessions
9th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 1.41 · 10 sessions
100th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.08 · 11 sessions
73th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:18
Volatility
Pressure -94
Move 11.6%
30 Jul 10:13
Mixed
Pressure 14
Move 8.7%
31 Jul 10:06
Bullish
Pressure 54
Move 13.3%
3 Aug 09:31
Bullish
Pressure 66
Move 7.9%
4 Aug 10:11
Mixed
Pressure 6
Move 7.5%
4 Aug 21:19
Volatility
Pressure 73
Move 6.8%
6 Aug 10:05
Bearish
Pressure -73
Move 6.8%
7 Aug 10:43
Bullish
Pressure 34
Move 7.7%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 40
Puts · V 0 · OI 1
Strike35.00
Calls · V 0 · OI 10
Puts · V 0 · OI 3
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Strike45.00
Calls · V 0 · OI 7
Puts · V 34 · OI 53
Strike50.00
Calls · V 0 · OI 4
Puts · V 0 · OI 22
Strike55.00
Calls · V 0 · OI 239
Puts · V 0 · OI 26
Strike60.00
Calls · V 0 · OI 16
Puts · V 0 · OI 32
Strike65.00
Calls · V 0 · OI 179
Puts · V 0 · OI 3
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts38
Avg IV0.35
Put-call17.00
Expiry18 Sep 2026
Contracts20
Avg IV0.40
Put-call-
Expiry20 Nov 2026
Contracts44
Avg IV0.45
Put-call-
Expiry19 Feb 2027
Contracts28
Avg IV0.46
Put-call-
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.40
Put IV0.12
Skew-0.27
18 Sep 2026Put IV premium
Call IV0.41
Put IV0.49
Skew0.09
20 Nov 2026Balanced skew
Call IV0.44
Put IV0.49
Skew0.05
19 Feb 2027Balanced skew
Call IV0.44
Put IV0.49
Skew0.05
Contract Tape
Most active contracts
ContractPKX260821P00045000
SidePut
Expiry21 Aug 2026
Strike45.00
Volume34
OI53
IV0.61
ContractPKX261120P00040000
SidePut
Expiry20 Nov 2026
Strike40.00
Volume5
OI5
IV0.71
ContractPKX260821C00075000
SideCall
Expiry21 Aug 2026
Strike75.00
Volume2
OI19
IV0.67
ContractPKX260918P00050000
SidePut
Expiry18 Sep 2026
Strike50.00
Volume1
OI5
IV0.49
ContractPKX261120C00100000
SideCall
Expiry20 Nov 2026
Strike100.00
Volume-
OI315
IV0.59
ContractPKX260821C00055000
SideCall
Expiry21 Aug 2026
Strike55.00
Volume-
OI239
IV0.42
ContractPKX261120P00065000
SidePut
Expiry20 Nov 2026
Strike65.00
Volume-
OI205
IV0.47
ContractPKX260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume-
OI179
IV0.35
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.