Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
GTES options intelligence
Gates Industrial Corporation plc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
48
Market data through 31 Jul 2026
Checked 31 Jul 2026 17:57 · complete available chain
Put-side pressure
Bearish pressure
GTES currently carries bearish options pressure with a 48/100 conviction score. The nearest-chain expected move is 8.7%, with volume/open-interest participation at 0.33.
Expected move
8.7%
Wider near-term move priced
Activity / OI
0.33
Current volume is quieter versus prior open interest
Put-call
2.82
Put-side skew
Trend fit
64
Options agree with trend context
Weekly backdrop
+4.1%
RS 4.3
Expected move
8.7%
Put-call volume
2.82
Volume / OI
0.33
Reference IV
0.47
Max pain
26.00
Underlying
26.89
Nearest expiry
21 Aug 2026
Contracts
102
Research Brief
GTES has a bearish chain read with 48/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 24.54–29.24; The largest call open-interest concentration is 26.00; the largest put concentration is 26.00. The most active strike by current volume is 24.00.
Priced range24.54–29.24
Call concentration26.00
Put concentration26.00
Max pain reference26.00
- 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.
- 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 24.54 to 29.24. Max pain at 26.00 sits inside that range, 3.3% below spot.
Spot
Max pain
24.5426.89 ± 2.3529.24
Confirmation level
A close beyond 29.24 or below 24.54 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 48/100
Pressure is 45/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure45 × 42%
+18.8
How strongly activity leans toward calls or puts.
Participation28 × 22%
+6.2
Volume relative to existing open interest and contract-level activity.
Trend agreement64 × 26%
+16.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility68 × 10%
+6.8
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 26.00; the largest put concentration is 26.00. The most active strike by current volume is 24.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
20
18.00-33.1%
0
12
19.00-29.3%
0
30
21.00-21.9%
9
5
22.00-18.2%
5
21
23.00-14.5%
89
2756
24.00-10.7%
1387
1028
25.00-7.0%
1724
4895
26.00-3.3%
7498
48
27.000.4%
362
3764
28.004.1%
3239
50
29.007.8%
98
16
30.0011.6%
835
0
31.0015.3%
86
1
32.0019.0%
108
1
33.0022.7%
14
0
34.0026.4%
9
0
35.0030.2%
36
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.
0.47
21 Aug
21d
0.42
18 Sep
49d
0.40
20 Nov
112d
0.43
15 Jan
168d
0.44
19 Feb
203d
0.37
21 Jan
539d
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 interest98%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 102 / 102
- 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 building while price is rising, a cautionary divergence.
Put-heavy activity matters because it connects the options headline to the actual evidence: $1.0M of estimated gross traded notional, calls · 8-21 days · itm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-45
1W price+4.1%
Call premium80%
Put premium20%
Notional split
C 80% / P 20%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.33
Volume divided by open interest across the visible chain.
Trend fit
64/100
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 · 8-21 days · ITM
calls cluster with 2078 contracts traded, $743030 estimated gross traded notional, and 72% of visible notional.
$743030
Puts · 8-21 days · OTM
puts cluster with 7034 contracts traded, $192493 estimated gross traded notional, and 19% of visible notional.
$192493
Calls · 91+ days · ITM
calls cluster with 64 contracts traded, $33940 estimated gross traded notional, and 3% of visible notional.
$33940
Calls · 91+ days · OTM
calls cluster with 123 contracts traded, $32032 estimated gross traded notional, and 3% of visible notional.
$32032
Calls · 8-21 days · OTM
calls cluster with 208 contracts traded, $9545 estimated gross traded notional, and 1% of visible notional.
$9545
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.
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
Close27.98
1W+4.1%
RS4.3
Fair value+41.7%
Options pressure-45
Speculation28
Volatility68
Trend fit64
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 10:34
Volatility
Pressure 70
Move 9.9%
30 Jul 10:32
Bullish
Pressure 71
Move 11.2%
31 Jul 11:08
Mixed
Pressure 3
Move 10.1%
31 Jul 13:57
Mixed
Pressure -6
Move 8.4%
31 Jul 15:07
Bearish
Pressure -43
Move 8.1%
31 Jul 16:10
Bearish
Pressure -42
Move 8.2%
31 Jul 16:57
Bearish
Pressure -45
Move 8.7%
Strike Map
Where activity is clustering
Strike14.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.00
Calls · V 0 · OI 0
Puts · V 1 · OI 5
Strike18.00
Calls · V 0 · OI 0
Puts · V 1 · OI 20
Strike19.00
Calls · V 0 · OI 0
Puts · V 1 · OI 12
Strike20.00
Calls · V 0 · OI 0
Puts · V 1 · OI 3
Strike21.00
Calls · V 5 · OI 9
Puts · V 1 · OI 30
Strike22.00
Calls · V 4 · OI 5
Puts · V 0 · OI 5
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts35
Avg IV0.47
Put-call3.08
Expiry18 Sep 2026
Contracts4
Avg IV0.42
Put-call-
Expiry20 Nov 2026
Contracts23
Avg IV0.40
Put-call0.46
Expiry15 Jan 2027
Contracts25
Avg IV0.43
Put-call0.36
Expiry19 Feb 2027
Contracts1
Avg IV0.44
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.45
Put IV0.45
Skew0.00
18 Sep 2026Incomplete skew
Call IV0.43
Put IV-
Skew-
20 Nov 2026Balanced skew
Call IV0.39
Put IV0.43
Skew0.04
15 Jan 2027Put IV premium
Call IV0.46
Put IV0.55
Skew0.09
19 Feb 2027Incomplete skew
Call IV0.44
Put IV-
Skew-
Contract Tape
Most active contracts
ContractGTES261120P00040000
SidePut
Expiry20 Nov 2026
Strike40.00
Volume-
OI-
IV0.86
ContractGTES261120C00014000
SideCall
Expiry20 Nov 2026
Strike14.00
Volume-
OI-
IV0.73
ContractGTES260918C00031000
SideCall
Expiry18 Sep 2026
Strike31.00
Volume-
OI19
IV0.42
ContractGTES260821P00022000
SidePut
Expiry21 Aug 2026
Strike22.00
Volume-
OI5
IV1.05
ContractGTES280121C00023000
SideCall
Expiry21 Jan 2028
Strike23.00
Volume-
OI2
IV0.55
ContractGTES260918P00028000
SidePut
Expiry18 Sep 2026
Strike28.00
Volume-
OI1
IV0.40
ContractGTES260821P00033000
SidePut
Expiry21 Aug 2026
Strike33.00
Volume-
OI1
IV1.36
ContractGTES270115P00026000
SidePut
Expiry15 Jan 2027
Strike26.00
Volume-
OI1
IV0.55
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.