Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
LGN options intelligence
Legence Corp. Class A Common stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
39
Market data through 31 Jul 2026
Checked 1 Aug 2026 03:34 · complete available chain
Put-side pressure
Bearish pressure
LGN currently carries bearish options pressure with a 39/100 conviction score. The nearest-chain expected move is 20.7%, with volume/open-interest participation at 0.03.
Expected move
20.7%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
2.40
Put-side skew
Trend fit
57
Options are not fully confirming trend
Weekly backdrop
-9.7%
Sharemaestro weekly context
Expected move
20.7%
Put-call volume
2.40
Volume / OI
0.03
Reference IV
1.06
Max pain
55.00
Underlying
70.80
Nearest expiry
21 Aug 2026
Contracts
170
Research Brief
LGN has a bearish chain read with 39/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 56.15–85.45; The largest call open-interest concentration is 70.00; the largest put concentration is 50.00. The most active strike by current volume is 50.00.
Priced range56.15–85.45
Call concentration70.00
Put concentration50.00
Max pain reference55.00
- Price remains weak while put-side concentration persists.
- Price recovers while put pressure fades or reverses toward calls.
- Options and the weekly trend are not yet giving the same message.
- 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 56.15 to 85.45. Max pain at 55.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
56.1570.80 ± 14.6585.45
Confirmation level
A close beyond 85.45 or below 56.15 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 39/100
Pressure is 30/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure30 × 42%
+12.7
How strongly activity leans toward calls or puts.
Participation10 × 22%
+2.3
Volume relative to existing open interest and contract-level activity.
Trend agreement57 × 26%
+14.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 70.00; the largest put concentration is 50.00. The most active strike by current volume is 50.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
2
25.00-64.7%
21
1
40.00-43.5%
27
5
45.00-36.4%
11
80
50.00-29.4%
20
21
55.00-22.3%
266
18
60.00-15.3%
742
52
65.00-8.2%
21
13
70.00-1.1%
909
14
75.005.9%
109
3
80.0013.0%
44
5
85.0020.1%
50
0
90.0027.1%
197
0
95.0034.2%
23
0
100.0041.2%
99
0
105.0048.3%
46
0
110.0055.4%
150
0
130.0083.6%
251
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.
1.06
21 Aug
21d
0.94
18 Sep
49d
0.84
20 Nov
112d
0.78
19 Feb
203d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
60
65
70
75
80
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
- 170 / 170
- 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
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options pressure and weekly price action are both cautionary.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $51600 of estimated gross traded notional, puts · 8-21 days · otm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-30
1W price-9.7%
Call premium51%
Put premium49%
Notional split
C 51% / P 49%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
57/100
Agreement between options pressure and Sharemaestro market context.
Event window
13 Aug
Matched earnings event is 11 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 · 8-21 days · OTM
puts cluster with 99 contracts traded, $23595 estimated gross traded notional, and 46% of visible notional.
$23595
Calls · 8-21 days · ITM
calls cluster with 12 contracts traded, $8220 estimated gross traded notional, and 16% of visible notional.
$8220
Calls · 46-90 days · OTM
calls cluster with 16 contracts traded, $7600 estimated gross traded notional, and 15% of visible notional.
$7600
Calls · 91+ days · ITM
calls cluster with 4 contracts traded, $5985 estimated gross traded notional, and 12% of visible notional.
$5985
Calls · 91+ days · OTM
calls cluster with 6 contracts traded, $3470 estimated gross traded notional, and 7% of visible notional.
$3470
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
Close63.93
1W-9.7%
RS-
Fair value+12.9%
Options pressure-30
Speculation10
Volatility96
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 10:23
Volatility
Pressure 88
Move 23.0%
30 Jul 10:20
Volatility
Pressure 100
Move 28.0%
30 Jul 15:35
Volatility
Pressure 100
Move 22.4%
30 Jul 17:50
Volatility
Pressure 100
Move 21.6%
31 Jul 17:26
Volatility
Pressure 84
Move 20.4%
31 Jul 22:33
Volatility
Pressure 82
Move 20.7%
1 Aug 00:06
Volatility
Pressure 82
Move 20.7%
1 Aug 02:34
Bearish
Pressure -30
Move 20.7%
Strike Map
Where activity is clustering
Strike25.00
Calls · V 0 · OI 21
Puts · V 0 · OI 2
Strike30.00
Calls · V 0 · OI 10
Puts · V 0 · OI 2
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike40.00
Calls · V 0 · OI 27
Puts · V 0 · OI 1
Strike45.00
Calls · V 0 · OI 11
Puts · V 0 · OI 5
Strike50.00
Calls · V 0 · OI 20
Puts · V 77 · OI 80
Strike55.00
Calls · V 0 · OI 266
Puts · V 0 · OI 21
Strike60.00
Calls · V 1 · OI 742
Puts · V 22 · OI 18
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts50
Avg IV1.06
Put-call6.67
Expiry18 Sep 2026
Contracts32
Avg IV0.94
Put-call-
Expiry20 Nov 2026
Contracts48
Avg IV0.84
Put-call0.10
Expiry19 Feb 2027
Contracts40
Avg IV0.78
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV1.08
Put IV1.19
Skew0.11
18 Sep 2026Put IV premium
Call IV0.90
Put IV1.01
Skew0.11
20 Nov 2026Put IV premium
Call IV0.82
Put IV0.94
Skew0.12
19 Feb 2027Put IV premium
Call IV0.75
Put IV0.81
Skew0.07
Contract Tape
Most active contracts
ContractLGN260821P00050000
SidePut
Expiry21 Aug 2026
Strike50.00
Volume77
OI80
IV1.22
ContractLGN260821P00060000
SidePut
Expiry21 Aug 2026
Strike60.00
Volume22
OI18
IV1.03
ContractLGN260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume11
OI21
IV1.16
ContractLGN260918C00075000
SideCall
Expiry18 Sep 2026
Strike75.00
Volume10
OI-
IV0.96
ContractLGN260918C00080000
SideCall
Expiry18 Sep 2026
Strike80.00
Volume6
OI184
IV0.95
ContractLGN261120C00080000
SideCall
Expiry20 Nov 2026
Strike80.00
Volume4
OI526
IV0.83
ContractLGN260821C00100000
SideCall
Expiry21 Aug 2026
Strike100.00
Volume3
OI99
IV1.12
ContractLGN261120C00095000
SideCall
Expiry20 Nov 2026
Strike95.00
Volume2
OI29
IV0.82
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.