Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
PNC options intelligence
PNC Financial Services Group Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 31 Jul 2026
Checked 1 Aug 2026 10:34 · complete available chain
Put-side pressure
Bearish pressure
PNC currently carries bearish options pressure with a 45/100 conviction score. The nearest-chain expected move is 2.4%, with volume/open-interest participation at 0.03.
Expected move
2.4%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
2.34
Put-side skew
Trend fit
67
Options agree with trend context
Weekly backdrop
+0.1%
RS 10.9
Expected move
2.4%
Put-call volume
2.34
Volume / OI
0.03
Reference IV
0.21
Max pain
252.50
Underlying
250.99
Nearest expiry
7 Aug 2026
Contracts
1262
Research Brief
PNC has a bearish 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 244.89–257.09; The largest call open-interest concentration is 265.00; the largest put concentration is 252.50. The most active strike by current volume is 260.00.
Priced range244.89–257.09
Call concentration265.00
Put concentration252.50
Max pain reference252.50
- 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 244.89 to 257.09. Max pain at 252.50 sits inside that range, 0.6% above spot.
Spot
Max pain
244.89250.99 ± 6.10257.09
Confirmation level
A close beyond 257.09 or below 244.89 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 45/100
Pressure is 38/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure38 × 42%
+15.8
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement67 × 26%
+17.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility25 × 10%
+2.5
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 265.00; the largest put concentration is 252.50. The most active strike by current volume is 260.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
9
125.00-50.2%
0
16
130.00-48.2%
0
6
135.00-46.2%
0
11
140.00-44.2%
0
18
145.00-42.2%
0
10
235.00-6.4%
0
19
237.50-5.4%
0
21
240.00-4.4%
0
17
245.00-2.4%
3
2
247.50-1.4%
11
11
250.00-0.4%
23
76
252.500.6%
11
1
255.001.6%
35
0
260.003.6%
88
0
265.005.6%
243
0
267.506.6%
22
0
270.007.6%
25
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.21
7 Aug
7d
0.22
14 Aug
14d
0.21
21 Aug
21d
0.22
28 Aug
28d
0.22
4 Sep
35d
0.21
11 Sep
42d
0.22
18 Sep
49d
0.25
16 Oct
77d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
205
215
220
225
230
235
238
240
245
250
253
255
260
265
268
270
275
280
285
290
300
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1262 / 1262
- 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 present before a decisive weekly price breakdown.
Put-heavy activity matters because it connects the options headline to the actual evidence: $305048 of estimated gross traded notional, calls · 91+ days · otm, and a bearish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-38
1W price+0.1%
Call premium45%
Put premium55%
Notional split
C 45% / P 55%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
67/100
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.
Calls · 91+ days · OTM
calls cluster with 46 contracts traded, $47062 estimated gross traded notional, and 15% of visible notional.
$47062
Puts · 91+ days · OTM
puts cluster with 30 contracts traded, $44835 estimated gross traded notional, and 15% of visible notional.
$44835
Puts · 22-45 days · OTM
puts cluster with 251 contracts traded, $44552 estimated gross traded notional, and 15% of visible notional.
$44552
Puts · 8-21 days · OTM
puts cluster with 237 contracts traded, $34970 estimated gross traded notional, and 11% of visible notional.
$34970
Calls · 8-21 days · ATM
calls cluster with 76 contracts traded, $33865 estimated gross traded notional, and 11% of visible notional.
$33865
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
Close250.99
1W+0.1%
RS10.9
Fair value+45.2%
Options pressure-38
Speculation41
Volatility25
Trend fit67
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 10:03
Mixed
Pressure -9
Move 2.0%
30 Jul 06:07
Mixed
Pressure -5
Move 1.9%
30 Jul 19:49
Bullish
Pressure 51
Move 1.1%
31 Jul 19:05
Bullish
Pressure 51
Move 0.4%
31 Jul 19:51
Bullish
Pressure 49
Move 0.4%
31 Jul 20:40
Bullish
Pressure 45
Move 0.3%
1 Aug 09:34
Bearish
Pressure -38
Move 2.4%
Strike Map
Where activity is clustering
Strike125.00
Calls · V 0 · OI 0
Puts · V 18 · OI 9
Strike130.00
Calls · V 0 · OI 0
Puts · V 28 · OI 16
Strike135.00
Calls · V 0 · OI 0
Puts · V 26 · OI 6
Strike140.00
Calls · V 0 · OI 0
Puts · V 24 · OI 11
Strike145.00
Calls · V 0 · OI 0
Puts · V 21 · OI 18
Strike150.00
Calls · V 0 · OI 0
Puts · V 4 · OI 3
Strike155.00
Calls · V 0 · OI 0
Puts · V 2 · OI 1
Strike160.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts104
Avg IV0.21
Put-call0.92
Expiry14 Aug 2026
Contracts100
Avg IV0.22
Put-call2.95
Expiry21 Aug 2026
Contracts110
Avg IV0.21
Put-call2.64
Expiry28 Aug 2026
Contracts80
Avg IV0.22
Put-call-
Expiry4 Sep 2026
Contracts80
Avg IV0.22
Put-call22.82
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.19
Put IV0.23
Skew0.04
14 Aug 2026Balanced skew
Call IV0.21
Put IV0.22
Skew0.01
21 Aug 2026Balanced skew
Call IV0.21
Put IV0.23
Skew0.02
28 Aug 2026Balanced skew
Call IV0.23
Put IV0.23
Skew-
4 Sep 2026Balanced skew
Call IV0.22
Put IV0.23
Skew0.01
Contract Tape
Most active contracts
ContractPNC260904P00235000
SidePut
Expiry4 Sep 2026
Strike235.00
Volume251
OI-
IV0.23
ContractPNC260821P00240000
SidePut
Expiry21 Aug 2026
Strike240.00
Volume179
OI1067
IV0.23
ContractPNC260918P00220000
SidePut
Expiry18 Sep 2026
Strike220.00
Volume110
OI110
IV0.27
ContractPNC260807C00260000
SideCall
Expiry7 Aug 2026
Strike260.00
Volume100
OI88
IV0.22
ContractPNC260814P00237500
SidePut
Expiry14 Aug 2026
Strike237.50
Volume55
OI6
IV0.24
ContractPNC260807C00252500
SideCall
Expiry7 Aug 2026
Strike252.50
Volume42
OI11
IV0.22
ContractPNC260821C00250000
SideCall
Expiry21 Aug 2026
Strike250.00
Volume29
OI759
IV0.21
ContractPNC260807P00250000
SidePut
Expiry7 Aug 2026
Strike250.00
Volume29
OI11
IV0.23
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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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.