Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SBUX options intelligence
Starbucks Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
44
Market data through 31 Jul 2026
Checked 1 Aug 2026 00:51 · complete available chain
Call-side pressure
Bullish pressure
SBUX currently carries bullish options pressure with a 44/100 conviction score. The nearest-chain expected move is 2.2%, with volume/open-interest participation at 0.09.
Expected move
2.2%
Near-term move context
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
0.40
Call-side skew
Trend fit
51
Options are not fully confirming trend
Weekly backdrop
+1.9%
RS 4.5
Expected move
2.2%
Put-call volume
0.40
Volume / OI
0.09
Reference IV
0.36
Max pain
104.00
Underlying
103.25
Nearest expiry
31 Jul 2026
Contracts
697
Research Brief
SBUX has a bullish chain read with 44/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 100.96–105.54; The largest call open-interest concentration is 115.00; the largest put concentration is 93.00. The most active strike by current volume is 108.00.
Priced range100.96–105.54
Call concentration115.00
Put concentration93.00
Max pain reference104.00
- 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 100.96 to 105.54. Max pain at 104.00 sits inside that range, 0.7% above spot.
Spot
Max pain
100.96103.25 ± 2.29105.54
Confirmation level
A close beyond 105.54 or below 100.96 at the 31 Jul 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 44/100
Pressure is 42/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure42 × 42%
+17.7
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.3
Volume relative to existing open interest and contract-level activity.
Trend agreement51 × 26%
+13.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility34 × 10%
+3.4
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 115.00; the largest put concentration is 93.00. The most active strike by current volume is 108.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1114
89.00-13.8%
0
1048
90.00-12.8%
5
2218
93.00-9.9%
591
1210
95.00-8.0%
46
738
98.00-5.1%
586
1090
99.00-4.1%
32
1345
101.00-2.2%
107
1310
103.00-0.2%
621
355
104.000.7%
897
871
105.001.7%
1426
561
106.002.7%
280
103
107.003.6%
1380
543
108.004.6%
986
541
109.005.6%
868
138
110.006.5%
2684
9
112.008.5%
1131
0
115.0011.4%
4038
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.
0.36
31 Jul
0d
0.32
7 Aug
7d
0.32
14 Aug
14d
0.31
21 Aug
21d
0.32
28 Aug
28d
0.32
4 Sep
35d
0.31
18 Sep
49d
0.31
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
85
87
89
91
92
94
96
98
100
102
103
105
107
109
111
113
115
116
118
120
122
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 697 / 697
- 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
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: $21.0M of estimated gross traded notional, calls · 91+ days · atm, 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+42
1W price+1.9%
Call premium79%
Put premium21%
Notional split
C 79% / P 21%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.09
Volume divided by open interest across the visible chain.
Trend fit
51/100
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.
Calls · 91+ days · ATM
calls cluster with 8133 contracts traded, $7.4M estimated gross traded notional, and 35% of visible notional.
$7.4M
Calls · 91+ days · OTM
calls cluster with 9864 contracts traded, $5.9M estimated gross traded notional, and 28% of visible notional.
$5.9M
Puts · 91+ days · ITM
puts cluster with 816 contracts traded, $1.6M estimated gross traded notional, and 8% of visible notional.
$1.6M
Calls · 91+ days · ITM
calls cluster with 369 contracts traded, $1.1M estimated gross traded notional, and 5% of visible notional.
$1.1M
Puts · 91+ days · OTM
puts cluster with 3400 contracts traded, $956460 estimated gross traded notional, and 5% of visible notional.
$956460
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
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
Close105.25
1W+1.9%
RS4.5
Fair value+17.6%
Options pressure42
Speculation42
Volatility34
Trend fit51
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 10:02
Bullish
Pressure 18
Move 6.2%
30 Jul 10:01
Mixed
Pressure 6
Move 6.2%
31 Jul 03:10
Bullish
Pressure 22
Move 3.3%
31 Jul 13:34
Bullish
Pressure 24
Move 3.3%
31 Jul 14:45
Mixed
Pressure 17
Move 2.9%
31 Jul 15:59
Mixed
Pressure -6
Move 2.6%
31 Jul 17:20
Bullish
Pressure 24
Move 2.1%
31 Jul 19:59
Bullish
Pressure 42
Move 2.5%
Strike Map
Where activity is clustering
Strike55.00
Calls · V 3 · OI 20
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 2 · OI 7
Strike70.00
Calls · V 0 · OI 0
Puts · V 3 · OI 88
Strike75.00
Calls · V 0 · OI 0
Puts · V 1 · OI 15
Strike80.00
Calls · V 3 · OI 4
Puts · V 2 · OI 31
Strike85.00
Calls · V 3 · OI 4
Puts · V 1 · OI 233
Strike86.00
Calls · V 0 · OI 0
Puts · V 166 · OI 154
Strike87.00
Calls · V 0 · OI 0
Puts · V 9 · OI 94
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts78
Avg IV0.36
Put-call0.38
Expiry7 Aug 2026
Contracts58
Avg IV0.32
Put-call0.92
Expiry14 Aug 2026
Contracts52
Avg IV0.32
Put-call1.19
Expiry21 Aug 2026
Contracts70
Avg IV0.31
Put-call0.47
Expiry28 Aug 2026
Contracts45
Avg IV0.32
Put-call2.09
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.27
Put IV0.88
Skew0.61
7 Aug 2026Put IV premium
Call IV0.30
Put IV0.37
Skew0.06
14 Aug 2026Put IV premium
Call IV0.29
Put IV0.49
Skew0.21
21 Aug 2026Balanced skew
Call IV0.29
Put IV0.34
Skew0.05
28 Aug 2026Put IV premium
Call IV0.29
Put IV0.40
Skew0.11
Contract Tape
Most active contracts
ContractSBUX260828P00116000
SidePut
Expiry28 Aug 2026
Strike116.00
Volume-
OI68
IV0.44
ContractSBUX270319C00045000
SideCall
Expiry19 Mar 2027
Strike45.00
Volume-
OI30
IV0.00
ContractSBUX270319C00055000
SideCall
Expiry19 Mar 2027
Strike55.00
Volume-
OI25
IV0.00
ContractSBUX260828C00098000
SideCall
Expiry28 Aug 2026
Strike98.00
Volume-
OI16
IV0.44
ContractSBUX260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume-
OI5
IV0.00
ContractSBUX261120P00120000
SidePut
Expiry20 Nov 2026
Strike120.00
Volume-
OI4
IV0.32
ContractSBUX270319C00060000
SideCall
Expiry19 Mar 2027
Strike60.00
Volume-
OI3
IV0.00
ContractSBUX260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume-
OI3
IV0.94
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.