Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
GVA options intelligence
Granite Construction Incorporated options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
33
Market data through 31 Jul 2026
Checked 1 Aug 2026 04:00 · complete available chain
Call-side pressure
Bullish pressure
GVA currently carries bullish options pressure with a 33/100 conviction score. The nearest-chain expected move is 6.8%, with volume/open-interest participation at 0.07.
Expected move
6.8%
Wider near-term move priced
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
0.52
Call-side skew
Trend fit
30
Options are not fully confirming trend
Weekly backdrop
+0.4%
RS -3.8
Expected move
6.8%
Put-call volume
0.52
Volume / OI
0.07
Reference IV
0.35
Max pain
120.00
Underlying
124.47
Nearest expiry
21 Aug 2026
Contracts
284
Research Brief
GVA has a bullish chain read with 33/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 116.05–132.89; The largest call open-interest concentration is 125.00; the largest put concentration is 105.00. The most active strike by current volume is 120.00.
Priced range116.05–132.89
Call concentration125.00
Put concentration105.00
Max pain reference120.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 116.05 to 132.89. Max pain at 120.00 sits inside that range, 3.6% below spot.
Spot
Max pain
116.05124.47 ± 8.42132.89
Confirmation level
A close beyond 132.89 or below 116.05 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 33/100
Pressure is 33/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure33 × 42%
+14.0
How strongly activity leans toward calls or puts.
Participation29 × 22%
+6.3
Volume relative to existing open interest and contract-level activity.
Trend agreement30 × 26%
+7.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility52 × 10%
+5.2
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 125.00; the largest put concentration is 105.00. The most active strike by current volume is 120.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
65.00-47.8%
10
1
70.00-43.8%
0
0
75.00-39.7%
15
2
80.00-35.7%
0
401
105.00-15.6%
4
28
110.00-11.6%
1
7
115.00-7.6%
2
175
120.00-3.6%
8
0
125.000.4%
220
10
130.004.4%
27
3
135.008.5%
66
0
140.0012.5%
4
4
145.0016.5%
6
0
155.0024.5%
22
2
160.0028.5%
4
0
165.0032.6%
17
0
180.0044.6%
5
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
21 Aug
21d
0.34
18 Sep
49d
0.37
20 Nov
112d
0.37
18 Dec
140d
0.36
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.
100
105
110
115
120
125
130
135
140
145
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
- 284 / 284
- 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
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Call-side pressure is building before a meaningful weekly price response.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $43420 of estimated gross traded notional, puts · 8-21 days · otm, and a bullish 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+33
1W price+0.4%
Call premium61%
Put premium39%
Notional split
C 61% / P 39%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.07
Volume divided by open interest across the visible chain.
Trend fit
30/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 days away.
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 · OTM
puts cluster with 53 contracts traded, $16932 estimated gross traded notional, and 39% of visible notional.
$16932
Calls · 91+ days · OTM
calls cluster with 17 contracts traded, $11560 estimated gross traded notional, and 27% of visible notional.
$11560
Calls · 8-21 days · OTM
calls cluster with 51 contracts traded, $4525 estimated gross traded notional, and 10% of visible notional.
$4525
Calls · 46-90 days · OTM
calls cluster with 28 contracts traded, $4355 estimated gross traded notional, and 10% of visible notional.
$4355
Calls · 91+ days · ITM
calls cluster with 3 contracts traded, $3630 estimated gross traded notional, and 8% of visible notional.
$3630
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
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
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
Close124.47
1W+0.4%
RS-3.8
Fair value+47.0%
Options pressure33
Speculation29
Volatility52
Trend fit30
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 10:36
Bullish
Pressure 60
Move 9.5%
30 Jul 10:33
Bullish
Pressure 35
Move 9.6%
31 Jul 03:15
Bullish
Pressure 33
Move 10.1%
31 Jul 16:34
Mixed
Pressure 5
Move 7.6%
1 Aug 03:00
Bullish
Pressure 33
Move 6.8%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 10
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike75.00
Calls · V 0 · OI 15
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike95.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts58
Avg IV0.35
Put-call0.96
Expiry18 Sep 2026
Contracts56
Avg IV0.34
Put-call0.04
Expiry20 Nov 2026
Contracts60
Avg IV0.37
Put-call-
Expiry18 Dec 2026
Contracts60
Avg IV0.37
Put-call-
Expiry19 Mar 2027
Contracts50
Avg IV0.36
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.34
Put IV0.36
Skew0.02
18 Sep 2026Balanced skew
Call IV0.33
Put IV0.38
Skew0.05
20 Nov 2026Put IV premium
Call IV0.33
Put IV0.39
Skew0.06
18 Dec 2026Balanced skew
Call IV0.34
Put IV0.39
Skew0.05
19 Mar 2027Put IV premium
Call IV0.33
Put IV0.40
Skew0.07
Contract Tape
Most active contracts
ContractGVA260821P00120000
SidePut
Expiry21 Aug 2026
Strike120.00
Volume50
OI175
IV0.34
ContractGVA260821C00130000
SideCall
Expiry21 Aug 2026
Strike130.00
Volume40
OI27
IV0.34
ContractGVA261120C00130000
SideCall
Expiry20 Nov 2026
Strike130.00
Volume17
OI5
IV0.37
ContractGVA260918C00140000
SideCall
Expiry18 Sep 2026
Strike140.00
Volume15
OI26
IV0.35
ContractGVA260918C00135000
SideCall
Expiry18 Sep 2026
Strike135.00
Volume7
OI10
IV0.31
ContractGVA260918C00130000
SideCall
Expiry18 Sep 2026
Strike130.00
Volume6
OI8
IV0.33
ContractGVA260821C00145000
SideCall
Expiry21 Aug 2026
Strike145.00
Volume6
OI6
IV0.39
ContractGVA260821C00140000
SideCall
Expiry21 Aug 2026
Strike140.00
Volume5
OI4
IV0.39
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.