Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
MIDD options intelligence
Middleby Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
35
Market data through 31 Jul 2026
Checked 1 Aug 2026 17:23 · complete available chain
Options-market disagreement
Mixed pressure
MIDD currently carries mixed options pressure with a 35/100 conviction score. The nearest-chain expected move is 8.4%, with volume/open-interest participation at 0.03.
Expected move
8.4%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
1.00
Balanced tape
Trend fit
96
Options agree with trend context
Weekly backdrop
-0.2%
RS 28.6
Expected move
8.4%
Put-call volume
1.00
Volume / OI
0.03
Reference IV
0.45
Max pain
110.00
Underlying
133.58
Nearest expiry
21 Aug 2026
Contracts
162
Research Brief
MIDD has a mixed chain read with 35/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 122.33–144.83; The largest call open-interest concentration is 140.00; the largest put concentration is 110.00. The most active strike by current volume is 100.00.
Priced range122.33–144.83
Call concentration140.00
Put concentration110.00
Max pain reference110.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 122.33 to 144.83. Max pain at 110.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
122.33133.58 ± 11.25144.83
Confirmation level
A close beyond 144.83 or below 122.33 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 35/100
Pressure is 0/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure0 × 42%
+0.2
How strongly activity leans toward calls or puts.
Participation17 × 22%
+3.7
Volume relative to existing open interest and contract-level activity.
Trend agreement96 × 26%
+25.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility65 × 10%
+6.5
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 140.00; the largest put concentration is 110.00. The most active strike by current volume is 100.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
100.00-25.1%
1
0
105.00-21.4%
0
20
110.00-17.7%
0
0
115.00-13.9%
0
0
120.00-10.2%
10
0
125.00-6.4%
0
0
130.00-2.7%
0
0
135.001.1%
0
0
140.004.8%
14
0
145.008.5%
5
0
150.0012.3%
1
1
155.0016.0%
3
0
160.0019.8%
0
0
165.0023.5%
0
0
170.0027.3%
0
0
175.0031.0%
0
0
180.0034.8%
0
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.
0.45
21 Aug
21d
0.38
18 Sep
49d
0.38
18 Dec
140d
0.38
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
110
115
120
125
130
135
140
145
150
155
160
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
- 162 / 162
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $2390 of estimated gross traded notional, calls · 91+ days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-0
1W price-0.2%
Call premium86%
Put premium14%
Notional split
C 86% / P 14%
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
96/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 4 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 · OTM
calls cluster with 2 contracts traded, $2050 estimated gross traded notional, and 86% of visible notional.
$2050
Puts · 91+ days · OTM
puts cluster with 2 contracts traded, $340 estimated gross traded notional, and 14% of visible notional.
$340
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close133.58
1W-0.2%
RS28.6
Fair value+45.4%
Options pressure0
Speculation17
Volatility65
Trend fit96
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 10:33
Bullish
Pressure 51
Move 9.0%
30 Jul 10:31
Bullish
Pressure 100
Move 9.0%
31 Jul 00:04
Mixed
Pressure 1
Move 2.5%
31 Jul 01:16
Bearish
Pressure -80
Move 8.4%
31 Jul 22:15
Mixed
Pressure 1
Move 2.5%
1 Aug 01:47
Mixed
Pressure 0
Move 8.4%
1 Aug 16:23
Mixed
Pressure 0
Move 8.4%
Strike Map
Where activity is clustering
Strike100.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Strike115.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 10
Puts · V 0 · OI 0
Strike125.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike130.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike135.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts34
Avg IV0.45
Put-call-
Expiry18 Sep 2026
Contracts34
Avg IV0.38
Put-call-
Expiry18 Dec 2026
Contracts44
Avg IV0.38
Put-call-
Expiry19 Mar 2027
Contracts50
Avg IV0.38
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.42
Put IV0.46
Skew0.04
18 Sep 2026Balanced skew
Call IV0.38
Put IV0.40
Skew0.02
18 Dec 2026Put IV premium
Call IV0.34
Put IV0.40
Skew0.06
19 Mar 2027Balanced skew
Call IV0.35
Put IV0.39
Skew0.04
Contract Tape
Most active contracts
ContractMIDD261218C00140000
SideCall
Expiry18 Dec 2026
Strike140.00
Volume2
OI1
IV0.37
ContractMIDD270319P00090000
SidePut
Expiry19 Mar 2027
Strike90.00
Volume1
OI1
IV0.42
ContractMIDD270319P00080000
SidePut
Expiry19 Mar 2027
Strike80.00
Volume1
OI-
IV0.48
ContractMIDD260821P00110000
SidePut
Expiry21 Aug 2026
Strike110.00
Volume-
OI20
IV0.61
ContractMIDD260821C00140000
SideCall
Expiry21 Aug 2026
Strike140.00
Volume-
OI14
IV0.42
ContractMIDD270319P00115000
SidePut
Expiry19 Mar 2027
Strike115.00
Volume-
OI10
IV0.39
ContractMIDD260918C00145000
SideCall
Expiry18 Sep 2026
Strike145.00
Volume-
OI10
IV0.36
ContractMIDD260821C00120000
SideCall
Expiry21 Aug 2026
Strike120.00
Volume-
OI10
IV0.45
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.