Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
ECL options intelligence
Ecolab Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 31 Jul 2026
Checked 1 Aug 2026 15:46 · complete available chain
Put-side pressure
Bearish pressure
ECL currently carries bearish options pressure with a 43/100 conviction score. The nearest-chain expected move is 4.9%, with volume/open-interest participation at 0.13.
Expected move
4.9%
Near-term move context
Activity / OI
0.13
Current volume is quieter versus prior open interest
Put-call
1.74
Put-side skew
Trend fit
83
Options agree with trend context
Weekly backdrop
+3.3%
RS -5.7
Expected move
4.9%
Put-call volume
1.74
Volume / OI
0.13
Reference IV
0.26
Max pain
270.00
Underlying
277.63
Nearest expiry
21 Aug 2026
Contracts
304
Research Brief
ECL has a bearish chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 264.08–291.18; The largest call open-interest concentration is 300.00; the largest put concentration is 270.00. The most active strike by current volume is 300.00.
Priced range264.08–291.18
Call concentration300.00
Put concentration270.00
Max pain reference270.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 264.08 to 291.18. Max pain at 270.00 sits inside that range, 2.7% below spot.
Spot
Max pain
264.08277.63 ± 13.55291.18
Confirmation level
A close beyond 291.18 or below 264.08 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 43/100
Pressure is 20/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure20 × 42%
+8.6
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.5
Volume relative to existing open interest and contract-level activity.
Trend agreement83 × 26%
+21.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility38 × 10%
+3.8
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 300.00; the largest put concentration is 270.00. The most active strike by current volume is 300.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
165.00-40.6%
0
1
170.00-38.8%
0
104
200.00-28.0%
0
4
220.00-20.8%
0
15
230.00-17.2%
0
1231
240.00-13.6%
0
151
250.00-10.0%
1
93
260.00-6.4%
14
1306
270.00-2.7%
429
234
280.000.9%
494
28
290.004.5%
447
2
300.008.1%
601
0
310.0011.7%
351
0
320.0015.3%
142
0
330.0018.9%
6
0
340.0022.5%
1
0
350.0026.1%
1
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.
0.26
21 Aug
21d
0.24
18 Sep
49d
0.25
16 Oct
77d
0.26
18 Dec
140d
0.26
15 Jan
168d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
230
240
250
260
270
280
290
300
310
320
330
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
- 304 / 304
- 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: $829735 of estimated gross traded notional, puts · 46-90 days · atm, 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-20
1W price+3.3%
Call premium14%
Put premium86%
Notional split
C 14% / P 86%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.13
Volume divided by open interest across the visible chain.
Trend fit
83/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 3 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 · 46-90 days · ATM
puts cluster with 237 contracts traded, $253590 estimated gross traded notional, and 31% of visible notional.
$253590
Puts · 46-90 days · OTM
puts cluster with 567 contracts traded, $247664 estimated gross traded notional, and 30% of visible notional.
$247664
Puts · 8-21 days · ITM
puts cluster with 91 contracts traded, $126945 estimated gross traded notional, and 15% of visible notional.
$126945
Calls · 46-90 days · OTM
calls cluster with 333 contracts traded, $61189 estimated gross traded notional, and 7% of visible notional.
$61189
Puts · 8-21 days · OTM
puts cluster with 309 contracts traded, $49736 estimated gross traded notional, and 6% of visible notional.
$49736
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close277.63
1W+3.3%
RS-5.7
Fair value+15.6%
Options pressure-20
Speculation43
Volatility38
Trend fit83
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 10:05
Bullish
Pressure 65
Move 7.3%
30 Jul 10:03
Bullish
Pressure 52
Move 7.2%
31 Jul 10:01
Bearish
Pressure -42
Move 5.9%
1 Aug 14:46
Bearish
Pressure -20
Move 4.9%
Strike Map
Where activity is clustering
Strike165.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike170.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike175.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike180.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike185.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike190.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike195.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike200.00
Calls · V 0 · OI 0
Puts · V 0 · OI 104
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts58
Avg IV0.26
Put-call0.99
Expiry18 Sep 2026
Contracts56
Avg IV0.24
Put-call1.90
Expiry16 Oct 2026
Contracts58
Avg IV0.25
Put-call76.50
Expiry18 Dec 2026
Contracts66
Avg IV0.26
Put-call27.50
Expiry15 Jan 2027
Contracts66
Avg IV0.26
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.24
Put IV0.24
Skew-
18 Sep 2026Balanced skew
Call IV0.21
Put IV0.22
Skew0.01
16 Oct 2026Balanced skew
Call IV0.24
Put IV0.26
Skew0.02
18 Dec 2026Balanced skew
Call IV0.24
Put IV0.27
Skew0.03
15 Jan 2027Balanced skew
Call IV0.23
Put IV0.28
Skew0.05
Contract Tape
Most active contracts
ContractECL260821C00300000
SideCall
Expiry21 Aug 2026
Strike300.00
Volume391
OI601
IV0.24
ContractECL260918C00300000
SideCall
Expiry18 Sep 2026
Strike300.00
Volume317
OI18
IV0.20
ContractECL260918P00260000
SidePut
Expiry18 Sep 2026
Strike260.00
Volume264
OI15
IV0.22
ContractECL260918P00280000
SidePut
Expiry18 Sep 2026
Strike280.00
Volume237
OI249
IV0.25
ContractECL260821P00270000
SidePut
Expiry21 Aug 2026
Strike270.00
Volume152
OI1306
IV0.24
ContractECL260821P00240000
SidePut
Expiry21 Aug 2026
Strike240.00
Volume148
OI1231
IV0.22
ContractECL261016P00270000
SidePut
Expiry16 Oct 2026
Strike270.00
Volume146
OI18
IV0.25
ContractECL260918P00270000
SidePut
Expiry18 Sep 2026
Strike270.00
Volume130
OI49
IV0.23
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.