Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
BREW options intelligence
Craft Brew Alliance Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
20
Market data through 31 Jul 2026
Checked 1 Aug 2026 14:32 · complete available chain
Options-market disagreement
Mixed pressure
BREW currently carries mixed options pressure with a 20/100 conviction score. The nearest-chain expected move is 1.2%, with volume/open-interest participation at -.
Expected move
1.2%
Near-term move context
Activity / OI
-
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
75
Options agree with trend context
Weekly backdrop
+3.4%
RS -34.7
Expected move
1.2%
Put-call volume
-
Volume / OI
-
Reference IV
0.05
Max pain
18.00
Underlying
27.44
Nearest expiry
21 Aug 2026
Contracts
136
Research Brief
BREW has a mixed chain read with 20/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 27.10–27.78; The largest call open-interest concentration is 18.00; the largest put concentration is 18.00. The most active strike by current volume is 18.00.
Priced range27.10–27.78
Call concentration18.00
Put concentration18.00
Max pain reference18.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 27.10 to 27.78. Max pain at 18.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
27.1027.44 ± 0.3427.78
Confirmation level
A close beyond 27.78 or below 27.10 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 20/100
Pressure is 0/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure0 × 42%
+0.0
How strongly activity leans toward calls or puts.
Participation0 × 22%
+0.0
Volume relative to existing open interest and contract-level activity.
Trend agreement75 × 26%
+19.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility9 × 10%
+0.9
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 18.00; the largest put concentration is 18.00. The most active strike by current volume is 18.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
18.00-34.4%
0
0
19.00-30.8%
0
0
20.00-27.1%
0
0
21.00-23.5%
0
0
22.00-19.8%
0
0
23.00-16.2%
0
0
24.00-12.5%
0
0
25.00-8.9%
0
0
26.00-5.2%
0
0
27.00-1.6%
0
0
28.002.0%
0
0
29.005.7%
0
0
30.009.3%
0
0
31.0013.0%
0
0
32.0016.6%
0
0
33.0020.3%
0
0
34.0023.9%
0
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.
0.05
21 Aug
21d
0.03
18 Sep
49d
0.02
18 Dec
140d
0.02
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
22
23
24
25
26
27
28
29
30
31
32
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
- 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
- 136 / 136
- 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
Likely noise
Visible options activity is too thin or mixed to support a strong intent classification.
The options read is mixed, so divergence is not strong enough to classify.
Likely noise matters because it connects the options headline to the actual evidence: $0 of estimated gross traded notional, no dominant cluster, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+0
1W price+3.4%
Call premium0%
Put premium0%
Notional split
C 0% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
-
Volume divided by open interest across the visible chain.
Trend fit
75/100
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.
No high-conviction option cluster is visible in this snapshot.
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close27.44
1W+3.4%
RS-34.7
Fair value+50.1%
Options pressure0
Speculation0
Volatility9
Trend fit75
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 - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:36
Mixed
Pressure 0
Move 2.5%
30 Jul 11:16
Mixed
Pressure 0
Move 2.4%
31 Jul 10:51
Mixed
Pressure 0
Move 2.4%
1 Aug 13:32
Mixed
Pressure 0
Move 1.2%
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 0
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike21.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike22.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike23.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike24.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts38
Avg IV0.05
Put-call-
Expiry18 Sep 2026
Contracts30
Avg IV0.03
Put-call-
Expiry18 Dec 2026
Contracts30
Avg IV0.02
Put-call-
Expiry19 Mar 2027
Contracts38
Avg IV0.02
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.05
Put IV0.05
Skew-
18 Sep 2026Balanced skew
Call IV0.02
Put IV0.03
Skew0.01
18 Dec 2026Balanced skew
Call IV0.01
Put IV0.02
Skew0.01
19 Mar 2027Balanced skew
Call IV0.02
Put IV0.05
Skew0.03
Contract Tape
Most active contracts
ContractBREW260821P00018000
SidePut
Expiry21 Aug 2026
Strike18.00
Volume-
OI-
IV0.73
ContractBREW260821C00019000
SideCall
Expiry21 Aug 2026
Strike19.00
Volume-
OI-
IV0.01
ContractBREW260821P00019000
SidePut
Expiry21 Aug 2026
Strike19.00
Volume-
OI-
IV0.65
ContractBREW260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume-
OI-
IV0.01
ContractBREW260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume-
OI-
IV0.56
ContractBREW260821C00021000
SideCall
Expiry21 Aug 2026
Strike21.00
Volume-
OI-
IV0.01
ContractBREW260821P00021000
SidePut
Expiry21 Aug 2026
Strike21.00
Volume-
OI-
IV0.48
ContractBREW260821C00022000
SideCall
Expiry21 Aug 2026
Strike22.00
Volume-
OI-
IV0.01
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.