Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
CLS options intelligence
Celestica Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
39
Market data through 31 Jul 2026
Checked 1 Aug 2026 19:01 · partial chain
Call-side pressure
Bullish pressure
CLS currently carries bullish options pressure with a 39/100 conviction score. The nearest-chain expected move is 9.2%, with volume/open-interest participation at 0.12.
Expected move
9.2%
Wider near-term move priced
Activity / OI
0.12
Current volume is quieter versus prior open interest
Put-call
0.71
Call-side skew
Trend fit
43
Options are not fully confirming trend
Weekly backdrop
+8.6%
RS 0.6
Expected move
9.2%
Put-call volume
0.71
Volume / OI
0.12
Reference IV
0.86
Max pain
315.00
Underlying
331.44
Nearest expiry
7 Aug 2026
Contracts
2000
Research Brief
CLS has a bullish chain read with 39/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 300.94–361.94; The largest call open-interest concentration is 360.00; the largest put concentration is 250.00. The most active strike by current volume is 285.00.
Priced range300.94–361.94
Call concentration360.00
Put concentration250.00
Max pain reference315.00
- 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 300.94 to 361.94. Max pain at 315.00 sits inside that range, 5.0% below spot.
Spot
Max pain
300.94331.44 ± 30.50361.94
Confirmation level
A close beyond 361.94 or below 300.94 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 39/100
Pressure is 22/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure22 × 42%
+9.3
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.4
Volume relative to existing open interest and contract-level activity.
Trend agreement43 × 26%
+11.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility93 × 10%
+9.3
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 360.00; the largest put concentration is 250.00. The most active strike by current volume is 285.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
569
250.00-24.6%
1
89
285.00-14.0%
5
173
300.00-9.5%
228
31
310.00-6.5%
206
110
315.00-5.0%
307
129
325.00-1.9%
495
370
330.00-0.4%
516
59
335.001.1%
76
30
340.002.6%
167
92
345.004.1%
72
36
350.005.6%
2088
11
355.007.1%
518
9
360.008.6%
2345
0
367.5010.9%
701
4
370.0011.6%
2114
13
380.0014.7%
2040
3
400.0020.7%
170
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.
0.86
7 Aug
7d
0.82
14 Aug
14d
0.80
21 Aug
21d
0.80
28 Aug
28d
0.81
4 Sep
35d
0.80
11 Sep
42d
0.81
18 Sep
49d
0.81
16 Oct
77d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
268
275
280
288
293
300
308
313
320
325
333
340
345
353
358
365
373
378
385
390
398
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
Good
Retained chain81%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 2476
- 81% of provider contracts were retained for this snapshot.
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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $30.2M of estimated gross traded notional, calls · 0-7 days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+22
1W price+8.6%
Call premium72%
Put premium28%
Notional split
C 72% / P 28%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.12
Volume divided by open interest across the visible chain.
Trend fit
43/100
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 · 0-7 days · ITM
calls cluster with 1886 contracts traded, $9.1M estimated gross traded notional, and 30% of visible notional.
$9.1M
Calls · 46-90 days · OTM
calls cluster with 1635 contracts traded, $5.9M estimated gross traded notional, and 19% of visible notional.
$5.9M
Calls · 8-21 days · ITM
calls cluster with 1020 contracts traded, $3.6M estimated gross traded notional, and 12% of visible notional.
$3.6M
Puts · 8-21 days · ITM
puts cluster with 590 contracts traded, $1.9M estimated gross traded notional, and 6% of visible notional.
$1.9M
Puts · 46-90 days · OTM
puts cluster with 661 contracts traded, $1.0M estimated gross traded notional, and 3% of visible notional.
$1.0M
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close331.44
1W+8.6%
RS0.6
Fair value+126.0%
Options pressure22
Speculation43
Volatility93
Trend fit43
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 10:10
Bullish
Pressure 41
Move 15.9%
30 Jul 10:06
Bullish
Pressure 54
Move 10.1%
31 Jul 06:01
Bullish
Pressure 53
Move 15.8%
1 Aug 08:12
Bullish
Pressure 22
Move 12.5%
1 Aug 18:01
Bullish
Pressure 22
Move 9.2%
Strike Map
Where activity is clustering
Strike200.00
Calls · V 0 · OI 5
Puts · V 0 · OI 2
Strike202.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike205.00
Calls · V 0 · OI 5
Puts · V 0 · OI 58
Strike207.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike210.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike212.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike215.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike217.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts232
Avg IV0.86
Put-call0.40
Expiry14 Aug 2026
Contracts222
Avg IV0.82
Put-call3.14
Expiry21 Aug 2026
Contracts162
Avg IV0.80
Put-call0.51
Expiry28 Aug 2026
Contracts138
Avg IV0.80
Put-call9.24
Expiry4 Sep 2026
Contracts132
Avg IV0.81
Put-call2.84
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.86
Put IV0.89
Skew0.03
14 Aug 2026Balanced skew
Call IV0.81
Put IV0.81
Skew-0.01
21 Aug 2026Balanced skew
Call IV0.78
Put IV0.81
Skew0.03
28 Aug 2026Balanced skew
Call IV0.79
Put IV0.81
Skew0.03
4 Sep 2026Balanced skew
Call IV0.82
Put IV0.82
Skew-
Contract Tape
Most active contracts
ContractCLS260807C00285000
SideCall
Expiry7 Aug 2026
Strike285.00
Volume1592
OI5
IV0.89
ContractCLS261016C00350000
SideCall
Expiry16 Oct 2026
Strike350.00
Volume1261
OI36
IV0.81
ContractCLS260821C00315000
SideCall
Expiry21 Aug 2026
Strike315.00
Volume1005
OI2199
IV0.81
ContractCLS260814P00350000
SidePut
Expiry14 Aug 2026
Strike350.00
Volume504
OI20
IV0.81
ContractCLS260821P00300000
SidePut
Expiry21 Aug 2026
Strike300.00
Volume275
OI624
IV0.80
ContractCLS260821C00400000
SideCall
Expiry21 Aug 2026
Strike400.00
Volume270
OI1891
IV0.79
ContractCLS260807P00300000
SidePut
Expiry7 Aug 2026
Strike300.00
Volume257
OI173
IV0.87
ContractCLS260828P00250000
SidePut
Expiry28 Aug 2026
Strike250.00
Volume168
OI73
IV0.84
Research Graph
Related research and context
Sharemaestro research
Related News
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.