Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
PHG options intelligence
Koninklijke Philips NV ADR options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
60
Market data through 4 Aug 2026
Checked 5 Aug 2026 11:17 · complete available chain
Put-side pressure
Bearish pressure
PHG currently carries bearish options pressure with a 60/100 conviction score. The nearest-chain expected move is 5.0%, with volume/open-interest participation at 0.01.
Expected move
5.0%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
6.88
Put-side skew
Trend fit
68
Options agree with trend context
Weekly backdrop
+0.5%
RS -10.5
Expected move
5.0%
Put-call volume
6.88
Volume / OI
0.01
Reference IV
0.28
Max pain
27.00
Underlying
26.30
Nearest expiry
21 Aug 2026
Contracts
152
Research Brief
PHG has a bearish chain read with 60/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 24.98–27.62; The largest call open-interest concentration is 28.00; the largest put concentration is 27.00. The most active strike by current volume is 27.00.
Priced range24.98–27.62
Call concentration28.00
Put concentration27.00
Max pain reference27.00
- 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 24.98 to 27.62. Max pain at 27.00 sits inside that range, 2.7% above spot.
Spot
Max pain
24.9826.30 ± 1.3227.62
Confirmation level
A close beyond 27.62 or below 24.98 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 60/100
Pressure is 69/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure69 × 42%
+29.1
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement68 × 26%
+17.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility39 × 10%
+3.9
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 28.00; the largest put concentration is 27.00. The most active strike by current volume is 27.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
18.00-31.6%
0
100
19.00-27.8%
0
70
20.00-24.0%
19
1
21.00-20.2%
0
35
22.00-16.3%
0
12
23.00-12.5%
0
121
24.00-8.7%
1
128
25.00-4.9%
6
13
26.00-1.1%
6
469
27.002.7%
45
48
28.006.5%
121
10
29.0010.3%
47
0
30.0014.1%
26
0
31.0017.9%
26
0
32.0021.7%
1
0
33.0025.5%
0
0
34.0029.3%
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+$147,593Delta change / 1% move
Positive peak26.00+$75,540
Negative peak27.00-$41,465
Nearest balance26.65Interpolated sign change
StrikeNegativePositiveNet / 1% move
18.00-31.6%
+$11
19.00-27.8%
-$35
20.00-24.0%
-$663
21.00-20.2%
-$1,824
22.00-16.3%
-$3,597
23.00-12.5%
-$14,696
24.00-8.7%
-$8,230
25.00-4.9%
-$31,486
26.00-1.1%
+$75,540
27.002.7%
-$41,465
28.006.5%
+$48,148
29.0010.3%
+$37,072
30.0014.1%
+$23,354
31.0017.9%
+$31,441
32.0021.7%
+$28,187
33.0025.5%
+$1,257
34.0029.3%
+$3,022
35.0033.1%
+$960
36.0036.9%
+$513
37.0040.7%
+$13
38.0044.5%
+$43
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.28
21 Aug
17d
0.27
18 Sep
45d
0.27
16 Oct
73d
0.30
15 Jan
164d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
22
23
24
25
26
27
28
29
30
31
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
- 4 Aug 2026
- Calculation
- v2.0
- Contracts
- 152 / 152
- 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: $8,648 of estimated gross traded notional, puts · 22-45 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-69
1W price+0.5%
Call premium18%
Put premium82%
Notional split
C 18% / P 82%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
68/100
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 · 22-45 days · OTM
puts cluster with 100 contracts traded, $5,500 estimated gross traded notional, and 64% of visible notional.
$5,500
Puts · 91+ days · ATM
puts cluster with 10 contracts traded, $1,625 estimated gross traded notional, and 19% of visible notional.
$1,625
Calls · 46-90 days · ITM
calls cluster with 2 contracts traded, $460 estimated gross traded notional, and 5% of visible notional.
$460
Calls · 46-90 days · OTM
calls cluster with 5 contracts traded, $350 estimated gross traded notional, and 4% of visible notional.
$350
Calls · 91+ days · OTM
calls cluster with 2 contracts traded, $302 estimated gross traded notional, and 3% of visible notional.
$302
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Activity Anomaly
Warming up
5 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 5 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close26.30
1W+0.5%
RS-10.5
Fair value+8.6%
Options pressure-69
Speculation40
Volatility39
Trend fit68
Today Versus Normal
Stored-options context
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:15
Bullish
Pressure 33
Move 6.6%
30 Jul 10:11
Bearish
Pressure -62
Move 5.5%
31 Jul 10:05
Bullish
Pressure 98
Move 5.6%
31 Jul 15:38
Mixed
Pressure 5
Move 6.0%
31 Jul 16:33
Mixed
Pressure 5
Move 5.7%
31 Jul 16:58
Mixed
Pressure 5
Move 5.7%
31 Jul 20:23
Mixed
Pressure 5
Move 5.5%
1 Aug 10:58
Bearish
Pressure -88
Move 5.3%
Strike Map
Where activity is clustering
Strike18.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike19.00
Calls · V 0 · OI 0
Puts · V 0 · OI 100
Strike20.00
Calls · V 0 · OI 19
Puts · V 0 · OI 70
Strike21.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike22.00
Calls · V 0 · OI 0
Puts · V 0 · OI 35
Strike23.00
Calls · V 0 · OI 0
Puts · V 0 · OI 12
Strike24.00
Calls · V 0 · OI 1
Puts · V 0 · OI 121
Strike25.00
Calls · V 1 · OI 6
Puts · V 0 · OI 128
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts36
Avg IV0.28
Put-call-
Expiry18 Sep 2026
Contracts34
Avg IV0.27
Put-call100.00
Expiry16 Oct 2026
Contracts46
Avg IV0.27
Put-call-
Expiry15 Jan 2027
Contracts36
Avg IV0.30
Put-call5.00
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.27
Put IV0.29
Skew0.02
18 Sep 2026Balanced skew
Call IV0.26
Put IV0.28
Skew0.02
16 Oct 2026Balanced skew
Call IV0.25
Put IV0.28
Skew0.03
15 Jan 2027Balanced skew
Call IV0.33
Put IV0.31
Skew-0.02
Contract Tape
Most active contracts
ContractPHG260918P00023000
SidePut
Expiry18 Sep 2026
Strike23.00
Volume100
OI1
IV0.52
ContractPHG270115P00026000
SidePut
Expiry15 Jan 2027
Strike26.00
Volume10
OI11
IV0.29
ContractPHG261016C00028000
SideCall
Expiry16 Oct 2026
Strike28.00
Volume5
OI525
IV0.26
ContractPHG261016C00025000
SideCall
Expiry16 Oct 2026
Strike25.00
Volume2
OI56
IV0.29
ContractPHG260821C00029000
SideCall
Expiry21 Aug 2026
Strike29.00
Volume2
OI47
IV0.32
ContractPHG260821C00027000
SideCall
Expiry21 Aug 2026
Strike27.00
Volume2
OI45
IV0.27
ContractPHG270115C00030000
SideCall
Expiry15 Jan 2027
Strike30.00
Volume1
OI232
IV0.28
ContractPHG260821C00028000
SideCall
Expiry21 Aug 2026
Strike28.00
Volume1
OI121
IV0.27
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.