Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
GS options intelligence
Goldman Sachs Group Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
46
Market data through 31 Jul 2026
Checked 1 Aug 2026 16:45 · partial chain
Put-side pressure
Bearish pressure
GS currently carries bearish options pressure with a 46/100 conviction score. The nearest-chain expected move is 3.9%, with volume/open-interest participation at 0.13.
Expected move
3.9%
Near-term move context
Activity / OI
0.13
Current volume is quieter versus prior open interest
Put-call
1.97
Put-side skew
Trend fit
73
Options agree with trend context
Weekly backdrop
-4.0%
RS 7.0
Expected move
3.9%
Put-call volume
1.97
Volume / OI
0.13
Reference IV
0.35
Max pain
1030.00
Underlying
1018.38
Nearest expiry
7 Aug 2026
Contracts
2000
Research Brief
GS has a bearish chain read with 46/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 979.10–1057.66; The largest call open-interest concentration is 1210.00; the largest put concentration is 900.00. The most active strike by current volume is 1120.00.
Priced range979.10–1057.66
Call concentration1210.00
Put concentration900.00
Max pain reference1030.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 979.10 to 1057.66. Max pain at 1030.00 sits inside that range, 1.1% above spot.
Spot
Max pain
979.101018.38 ± 39.281057.66
Confirmation level
A close beyond 1057.66 or below 979.10 at the 7 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 46/100
Pressure is 34/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure34 × 42%
+14.1
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.5
Volume relative to existing open interest and contract-level activity.
Trend agreement73 × 26%
+18.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility40 × 10%
+4.0
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 1210.00; the largest put concentration is 900.00. The most active strike by current volume is 1120.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
453
685.00-32.7%
0
163
795.00-21.9%
1
146
800.00-21.4%
25
1478
900.00-11.6%
1
336
950.00-6.7%
10
164
990.00-2.8%
167
654
995.00-2.3%
75
256
1000.00-1.8%
43
292
1025.000.7%
105
190
1040.002.1%
139
128
1050.003.1%
169
21
1100.008.0%
274
1
1120.0010.0%
29
0
1150.0012.9%
364
0
1155.0013.4%
402
0
1170.0014.9%
365
0
1210.0018.8%
750
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.
0.35
7 Aug
7d
0.35
14 Aug
14d
0.35
21 Aug
21d
0.35
28 Aug
28d
0.35
4 Sep
35d
0.35
11 Sep
42d
0.34
18 Sep
49d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
815
840
860
885
905
930
950
975
990
1003
1020
1040
1065
1083
1095
1105
1125
1145
1170
1190
1220
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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 chain31%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 6532
- 31% of provider contracts were retained for this snapshot.
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.
Options pressure and weekly price action are both cautionary.
Put-heavy activity matters because it connects the options headline to the actual evidence: $22.1M of estimated gross traded notional, puts · 8-21 days · atm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-34
1W price-4.0%
Call premium37%
Put premium63%
Notional split
C 37% / P 63%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.13
Volume divided by open interest across the visible chain.
Trend fit
73/100
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 · 8-21 days · ATM
puts cluster with 884 contracts traded, $2.5M estimated gross traded notional, and 11% of visible notional.
$2.5M
Puts · 22-45 days · OTM
puts cluster with 1559 contracts traded, $2.2M estimated gross traded notional, and 10% of visible notional.
$2.2M
Puts · 8-21 days · OTM
puts cluster with 3439 contracts traded, $1.9M estimated gross traded notional, and 9% of visible notional.
$1.9M
Calls · 8-21 days · ITM
calls cluster with 199 contracts traded, $1.6M estimated gross traded notional, and 7% of visible notional.
$1.6M
Puts · 0-7 days · ITM
puts cluster with 393 contracts traded, $1.6M estimated gross traded notional, and 7% of visible notional.
$1.6M
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close1018.38
1W-4.0%
RS7.0
Fair value+68.6%
Options pressure-34
Speculation43
Volatility40
Trend fit73
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 15:40
Mixed
Pressure -15
Move 6.5%
29 Jul 16:04
Mixed
Pressure -15
Move 7.0%
29 Jul 16:21
Mixed
Pressure -16
Move 7.2%
29 Jul 16:50
Mixed
Pressure -15
Move 6.8%
29 Jul 17:13
Mixed
Pressure -15
Move 6.5%
29 Jul 17:31
Mixed
Pressure -14
Move 6.2%
29 Jul 17:31
Mixed
Pressure -14
Move 6.2%
29 Jul 17:54
Mixed
Pressure -13
Move 5.8%
Strike Map
Where activity is clustering
Strike540.00
Calls · V 0 · OI 0
Puts · V 3 · OI 45
Strike550.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike560.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike570.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike580.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike590.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike600.00
Calls · V 0 · OI 1
Puts · V 0 · OI 18
Strike610.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts310
Avg IV0.35
Put-call1.89
Expiry14 Aug 2026
Contracts300
Avg IV0.35
Put-call4.36
Expiry21 Aug 2026
Contracts370
Avg IV0.35
Put-call2.56
Expiry28 Aug 2026
Contracts284
Avg IV0.35
Put-call1.23
Expiry4 Sep 2026
Contracts284
Avg IV0.35
Put-call1.16
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.33
Put IV0.37
Skew0.04
14 Aug 2026Balanced skew
Call IV0.34
Put IV0.37
Skew0.03
21 Aug 2026Balanced skew
Call IV0.33
Put IV0.36
Skew0.03
28 Aug 2026Balanced skew
Call IV0.32
Put IV0.36
Skew0.04
4 Sep 2026Balanced skew
Call IV0.33
Put IV0.37
Skew0.04
Contract Tape
Most active contracts
ContractGS260807C01120000
SideCall
Expiry7 Aug 2026
Strike1120.00
Volume484
OI29
IV0.36
ContractGS260918C01220000
SideCall
Expiry18 Sep 2026
Strike1220.00
Volume417
OI419
IV0.33
ContractGS260807P00800000
SidePut
Expiry7 Aug 2026
Strike800.00
Volume345
OI146
IV0.69
ContractGS260821C01100000
SideCall
Expiry21 Aug 2026
Strike1100.00
Volume333
OI3657
IV0.33
ContractGS260807P00795000
SidePut
Expiry7 Aug 2026
Strike795.00
Volume299
OI163
IV0.55
ContractGS260821P01000000
SidePut
Expiry21 Aug 2026
Strike1000.00
Volume298
OI486
IV0.36
ContractGS260821P00955000
SidePut
Expiry21 Aug 2026
Strike955.00
Volume263
OI209
IV0.36
ContractGS260807P01050000
SidePut
Expiry7 Aug 2026
Strike1050.00
Volume261
OI128
IV0.34
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.