Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
UNM options intelligence
Unum Group options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
46
Market data through 31 Jul 2026
Checked 2 Aug 2026 00:11 · complete available chain
Call-side pressure
Bullish pressure
UNM currently carries bullish options pressure with a 46/100 conviction score. The nearest-chain expected move is 5.4%, with volume/open-interest participation at 0.00.
Expected move
5.4%
Near-term move context
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
0.18
Call-side skew
Trend fit
11
Options are not fully confirming trend
Weekly backdrop
-0.1%
RS 2.3
Expected move
5.4%
Put-call volume
0.18
Volume / OI
0.00
Reference IV
0.28
Max pain
87.50
Underlying
86.11
Nearest expiry
21 Aug 2026
Contracts
194
Research Brief
UNM has a bullish chain read with 46/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 81.48–90.74; The largest call open-interest concentration is 97.50; the largest put concentration is 75.00. The most active strike by current volume is 90.00.
Priced range81.48–90.74
Call concentration97.50
Put concentration75.00
Max pain reference87.50
- 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 81.48 to 90.74. Max pain at 87.50 sits inside that range, 1.6% above spot.
Spot
Max pain
81.4886.11 ± 4.6390.74
Confirmation level
A close beyond 90.74 or below 81.48 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 46/100
Pressure is 80/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure80 × 42%
+33.7
How strongly activity leans toward calls or puts.
Participation26 × 22%
+5.7
Volume relative to existing open interest and contract-level activity.
Trend agreement11 × 26%
+2.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility41 × 10%
+4.1
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 97.50; the largest put concentration is 75.00. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
60.00-30.3%
0
0
65.00-24.5%
0
1
70.00-18.7%
0
1140
75.00-12.9%
2
102
77.50-10.0%
0
104
80.00-7.1%
2
1138
82.50-4.2%
84
81
85.00-1.3%
349
156
87.501.6%
708
303
90.004.5%
340
134
92.507.4%
725
0
95.0010.3%
347
0
97.5013.2%
1139
0
100.0016.1%
384
0
105.0021.9%
24
0
110.0027.7%
203
0
115.0033.6%
0
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.
0.28
21 Aug
21d
0.27
18 Sep
49d
0.30
18 Dec
140d
0.30
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.
70
75
78
80
83
85
88
90
93
95
98
100
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
- 194 / 194
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Call-side pressure is building before a meaningful weekly price response.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $95772 of estimated gross traded notional, calls · 46-90 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+80
1W price-0.1%
Call premium81%
Put premium19%
Notional split
C 81% / P 19%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
11/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 2 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 46-90 days · OTM
calls cluster with 174 contracts traded, $23182 estimated gross traded notional, and 24% of visible notional.
$23182
Calls · 46-90 days · ATM
calls cluster with 68 contracts traded, $19550 estimated gross traded notional, and 20% of visible notional.
$19550
Calls · 91+ days · ATM
calls cluster with 16 contracts traded, $11600 estimated gross traded notional, and 12% of visible notional.
$11600
Calls · 46-90 days · ITM
calls cluster with 14 contracts traded, $9450 estimated gross traded notional, and 10% of visible notional.
$9450
Calls · 91+ days · OTM
calls cluster with 20 contracts traded, $9005 estimated gross traded notional, and 9% of visible notional.
$9005
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.
Underlying price is close to the max-pain zone.
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
Close86.11
1W-0.1%
RS2.3
Fair value+33.2%
Options pressure80
Speculation26
Volatility41
Trend fit11
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 10:23
Bullish
Pressure 58
Move 9.5%
30 Jul 10:20
Bullish
Pressure 27
Move 5.7%
30 Jul 16:23
Mixed
Pressure 16
Move 5.4%
31 Jul 05:54
Bullish
Pressure 67
Move 4.8%
31 Jul 17:27
Bullish
Pressure 29
Move 5.3%
31 Jul 19:40
Bullish
Pressure 29
Move 5.4%
1 Aug 11:45
Bullish
Pressure 80
Move 5.4%
1 Aug 23:11
Bullish
Pressure 80
Move 5.4%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike75.00
Calls · V 0 · OI 2
Puts · V 0 · OI 1140
Strike77.50
Calls · V 0 · OI 0
Puts · V 0 · OI 102
Strike80.00
Calls · V 0 · OI 2
Puts · V 0 · OI 104
Strike82.50
Calls · V 0 · OI 84
Puts · V 0 · OI 1138
Strike85.00
Calls · V 0 · OI 349
Puts · V 0 · OI 81
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts42
Avg IV0.28
Put-call1.50
Expiry18 Sep 2026
Contracts52
Avg IV0.27
Put-call0.06
Expiry18 Dec 2026
Contracts52
Avg IV0.30
Put-call0.76
Expiry19 Mar 2027
Contracts48
Avg IV0.30
Put-call0.67
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.27
Put IV0.28
Skew0.01
18 Sep 2026Balanced skew
Call IV0.27
Put IV0.29
Skew0.02
18 Dec 2026Balanced skew
Call IV0.30
Put IV0.31
Skew0.01
19 Mar 2027Balanced skew
Call IV0.30
Put IV0.33
Skew0.03
Contract Tape
Most active contracts
ContractUNM260918C00092500
SideCall
Expiry18 Sep 2026
Strike92.50
Volume162
OI256
IV0.27
ContractUNM260918C00087500
SideCall
Expiry18 Sep 2026
Strike87.50
Volume68
OI369
IV0.27
ContractUNM261218C00090000
SideCall
Expiry18 Dec 2026
Strike90.00
Volume18
OI366
IV0.28
ContractUNM261218C00085000
SideCall
Expiry18 Dec 2026
Strike85.00
Volume16
OI44
IV0.29
ContractUNM261218P00077500
SidePut
Expiry18 Dec 2026
Strike77.50
Volume16
OI5
IV0.31
ContractUNM260918C00082500
SideCall
Expiry18 Sep 2026
Strike82.50
Volume12
OI122
IV0.28
ContractUNM260918P00085000
SidePut
Expiry18 Sep 2026
Strike85.00
Volume12
OI46
IV0.27
ContractUNM260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume11
OI1008
IV0.26
Research Graph
Related research and context
Sharemaestro research
Related News
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.