Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
PL options intelligence
Planet Labs PBC options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 30 Jul 2026
Checked 31 Jul 2026 09:58 · complete available chain
Call-side pressure
Bullish pressure
PL currently carries bullish options pressure with a 37/100 conviction score. The nearest-chain expected move is 4.8%, with volume/open-interest participation at 0.04.
Expected move
4.8%
Near-term move context
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
0.58
Call-side skew
Trend fit
26
Options are not fully confirming trend
Weekly backdrop
-8.9%
RS -14.2
Expected move
4.8%
Put-call volume
0.58
Volume / OI
0.04
Reference IV
1.12
Max pain
22.00
Underlying
20.47
Nearest expiry
31 Jul 2026
Contracts
860
Research Brief
PL has a bullish chain read with 37/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.50–21.44; The largest call open-interest concentration is 38.00; the largest put concentration is 21.00. The most active strike by current volume is 24.00.
Priced range19.50–21.44
Call concentration38.00
Put concentration21.00
Max pain reference22.00
- 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 19.50 to 21.44. Max pain at 22.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
19.5020.47 ± 0.9721.44
Confirmation level
A close beyond 21.44 or below 19.50 at the 31 Jul 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 37/100
Pressure is 32/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure32 × 42%
+13.4
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement26 × 26%
+6.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility75 × 10%
+7.5
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 38.00; the largest put concentration is 21.00. The most active strike by current volume is 24.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
706
14.00-31.6%
12
849
16.00-21.8%
12
570
17.00-17.0%
115
268
20.00-2.3%
152
137
20.500.1%
76
870
21.002.6%
387
34
21.505.0%
157
299
22.007.5%
364
107
22.509.9%
216
83
23.0012.4%
672
21
23.5014.8%
398
340
24.0017.2%
376
97
25.0022.1%
884
12
26.0027.0%
296
14
30.0046.6%
344
2
38.0085.6%
2056
0
40.0095.4%
571
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.
1.12
31 Jul
1d
0.92
7 Aug
8d
0.92
14 Aug
15d
0.93
21 Aug
22d
0.92
28 Aug
29d
1.00
4 Sep
36d
1.09
11 Sep
43d
1.06
18 Sep
50d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
17
17
18
18
19
19
20
20
21
21
22
22
23
23
24
24
25
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 chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 860 / 860
- 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.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Put-heavy activity matters because it connects the options headline to the actual evidence: $1.9M of estimated gross traded notional, puts · 0-7 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+32
1W price-8.9%
Call premium38%
Put premium62%
Notional split
C 38% / P 62%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
Volume divided by open interest across the visible chain.
Trend fit
26/100
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 · 0-7 days · ITM
puts cluster with 1011 contracts traded, $785768 estimated gross traded notional, and 41% of visible notional.
$785768
Calls · 91+ days · OTM
calls cluster with 572 contracts traded, $158550 estimated gross traded notional, and 8% of visible notional.
$158550
Calls · 91+ days · ITM
calls cluster with 146 contracts traded, $151410 estimated gross traded notional, and 8% of visible notional.
$151410
Calls · 8-21 days · OTM
calls cluster with 1780 contracts traded, $119045 estimated gross traded notional, and 6% of visible notional.
$119045
Calls · 46-90 days · OTM
calls cluster with 627 contracts traded, $98376 estimated gross traded notional, and 5% of visible notional.
$98376
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close20.47
1W-8.9%
RS-14.2
Fair value+114.3%
Options pressure32
Speculation41
Volatility75
Trend fit26
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 10:20
Mixed
Pressure -7
Move 7.7%
30 Jul 10:14
Bullish
Pressure 24
Move 8.2%
31 Jul 08:58
Bullish
Pressure 32
Move 4.8%
Strike Map
Where activity is clustering
Strike11.00
Calls · V 8 · OI 1
Puts · V 0 · OI 10
Strike12.00
Calls · V 5 · OI 3
Puts · V 1 · OI 0
Strike13.00
Calls · V 2 · OI 10
Puts · V 0 · OI 0
Strike14.00
Calls · V 5 · OI 12
Puts · V 0 · OI 706
Strike15.00
Calls · V 1 · OI 13
Puts · V 0 · OI 3
Strike16.00
Calls · V 5 · OI 12
Puts · V 0 · OI 849
Strike16.50
Calls · V 4 · OI 4
Puts · V 1 · OI 121
Strike17.00
Calls · V 13 · OI 115
Puts · V 0 · OI 570
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts110
Avg IV1.12
Put-call1.04
Expiry7 Aug 2026
Contracts100
Avg IV0.92
Put-call0.68
Expiry14 Aug 2026
Contracts98
Avg IV0.92
Put-call0.87
Expiry21 Aug 2026
Contracts114
Avg IV0.93
Put-call0.54
Expiry28 Aug 2026
Contracts58
Avg IV0.92
Put-call0.14
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV1.06
Put IV1.23
Skew0.18
7 Aug 2026Balanced skew
Call IV0.96
Put IV0.91
Skew-0.05
14 Aug 2026Balanced skew
Call IV0.95
Put IV0.92
Skew-0.03
21 Aug 2026Call IV premium
Call IV1.00
Put IV0.92
Skew-0.08
28 Aug 2026Balanced skew
Call IV0.91
Put IV0.93
Skew0.02
Contract Tape
Most active contracts
ContractPL260821C00028000
SideCall
Expiry21 Aug 2026
Strike28.00
Volume311
OI806
IV0.99
ContractPL260731P00024000
SidePut
Expiry31 Jul 2026
Strike24.00
Volume290
OI340
IV0.01
ContractPL260731C00021000
SideCall
Expiry31 Jul 2026
Strike21.00
Volume241
OI387
IV1.06
ContractPL260731C00021500
SideCall
Expiry31 Jul 2026
Strike21.50
Volume228
OI157
IV1.07
ContractPL260807C00020500
SideCall
Expiry7 Aug 2026
Strike20.50
Volume179
OI44
IV0.94
ContractPL260731P00025000
SidePut
Expiry31 Jul 2026
Strike25.00
Volume171
OI97
IV0.01
ContractPL260821C00030000
SideCall
Expiry21 Aug 2026
Strike30.00
Volume167
OI1406
IV0.97
ContractPL260807C00023000
SideCall
Expiry7 Aug 2026
Strike23.00
Volume144
OI83
IV0.95
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.