Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
STT options intelligence
State Street Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 31 Jul 2026
Checked 1 Aug 2026 16:28 · complete available chain
Call-side pressure
Bullish pressure
STT currently carries bullish options pressure with a 47/100 conviction score. The nearest-chain expected move is 5.7%, with volume/open-interest participation at 0.02.
Expected move
5.7%
Near-term move context
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.41
Call-side skew
Trend fit
57
Options are not fully confirming trend
Weekly backdrop
-0.7%
RS 27.5
Expected move
5.7%
Put-call volume
0.41
Volume / OI
0.02
Reference IV
0.30
Max pain
165.00
Underlying
184.16
Nearest expiry
21 Aug 2026
Contracts
628
Research Brief
STT has a bullish chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 173.71–194.61; The largest call open-interest concentration is 185.00; the largest put concentration is 170.00. The most active strike by current volume is 195.00.
Priced range173.71–194.61
Call concentration185.00
Put concentration170.00
Max pain reference165.00
- 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 173.71 to 194.61. Max pain at 165.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
173.71184.16 ± 10.45194.61
Confirmation level
A close beyond 194.61 or below 173.71 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 47/100
Pressure is 46/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure46 × 42%
+19.1
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement57 × 26%
+14.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility44 × 10%
+4.4
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 185.00; the largest put concentration is 170.00. The most active strike by current volume is 195.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
91
120.00-34.8%
24
62
125.00-32.1%
33
34
135.00-26.7%
52
55
140.00-24.0%
28
32
145.00-21.3%
60
213
150.00-18.5%
85
26
155.00-15.8%
35
247
160.00-13.1%
605
186
165.00-10.4%
78
376
170.00-7.7%
191
293
175.00-5.0%
320
30
180.00-2.3%
169
235
185.000.5%
1383
71
190.003.2%
66
0
195.005.9%
1143
6
200.008.6%
94
0
210.0014.0%
398
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.30
21 Aug
21d
0.29
18 Sep
49d
0.31
20 Nov
112d
0.32
18 Dec
140d
0.33
15 Jan
168d
0.33
19 Feb
203d
0.34
19 Mar
231d
0.34
17 Jun
321d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
150
155
160
165
170
175
180
185
190
195
200
210
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
- 628 / 628
- 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
Call-heavy activity with trend alignment
Call concentration and the underlying trend align, but aggregate volume cannot establish whether calls were bought or sold.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Call-heavy activity with trend alignment matters because it connects the options headline to the actual evidence: $586524 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+46
1W price-0.7%
Call premium82%
Put premium18%
Notional split
C 82% / P 18%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
57/100
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 · 91+ days · ITM
calls cluster with 48 contracts traded, $164140 estimated gross traded notional, and 28% of visible notional.
$164140
Calls · 91+ days · OTM
calls cluster with 182 contracts traded, $156325 estimated gross traded notional, and 27% of visible notional.
$156325
Puts · 91+ days · OTM
puts cluster with 90 contracts traded, $84900 estimated gross traded notional, and 14% of visible notional.
$84900
Calls · 91+ days · ATM
calls cluster with 37 contracts traded, $77120 estimated gross traded notional, and 13% of visible notional.
$77120
Calls · 46-90 days · ATM
calls cluster with 42 contracts traded, $35680 estimated gross traded notional, and 6% of visible notional.
$35680
Setup Classification
Opportunity and risk frame
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
Close184.16
1W-0.7%
RS27.5
Fair value+88.7%
Options pressure46
Speculation40
Volatility44
Trend fit57
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 45
Move 5.7%
30 Jul 10:06
Bullish
Pressure 87
Move 6.7%
31 Jul 10:03
Mixed
Pressure -7
Move 5.7%
1 Aug 15:28
Bullish
Pressure 46
Move 5.7%
Strike Map
Where activity is clustering
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 21
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 22
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 26
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts54
Avg IV0.30
Put-call0.54
Expiry18 Sep 2026
Contracts82
Avg IV0.29
Put-call0.56
Expiry20 Nov 2026
Contracts66
Avg IV0.31
Put-call0.02
Expiry18 Dec 2026
Contracts70
Avg IV0.32
Put-call1.20
Expiry15 Jan 2027
Contracts96
Avg IV0.33
Put-call0.39
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.29
Put IV0.30
Skew0.01
18 Sep 2026Balanced skew
Call IV0.27
Put IV0.30
Skew0.03
20 Nov 2026Balanced skew
Call IV0.29
Put IV0.33
Skew0.04
18 Dec 2026Balanced skew
Call IV0.29
Put IV0.34
Skew0.05
15 Jan 2027Put IV premium
Call IV0.29
Put IV0.37
Skew0.08
Contract Tape
Most active contracts
ContractSTT261120C00200000
SideCall
Expiry20 Nov 2026
Strike200.00
Volume120
OI51
IV0.30
ContractSTT260918C00185000
SideCall
Expiry18 Sep 2026
Strike185.00
Volume34
OI177
IV0.30
ContractSTT270319C00185000
SideCall
Expiry19 Mar 2027
Strike185.00
Volume33
OI202
IV0.33
ContractSTT270115C00165000
SideCall
Expiry15 Jan 2027
Strike165.00
Volume33
OI83
IV0.34
ContractSTT270319P00160000
SidePut
Expiry19 Mar 2027
Strike160.00
Volume28
OI105
IV0.38
ContractSTT260821C00195000
SideCall
Expiry21 Aug 2026
Strike195.00
Volume24
OI1143
IV0.29
ContractSTT260918P00155000
SidePut
Expiry18 Sep 2026
Strike155.00
Volume23
OI180
IV0.34
ContractSTT270319P00175000
SidePut
Expiry19 Mar 2027
Strike175.00
Volume23
OI2
IV0.36
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.