Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
SIG options intelligence
Signet Jewelers Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 30 Jul 2026
Checked 31 Jul 2026 09:44 · complete available chain
Put-side pressure
Bearish pressure
SIG currently carries bearish options pressure with a 51/100 conviction score. The nearest-chain expected move is 5.5%, with volume/open-interest participation at 0.05.
Expected move
5.5%
Near-term move context
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
1.85
Put-side skew
Trend fit
93
Options agree with trend context
Weekly backdrop
-0.0%
RS -5.5
Expected move
5.5%
Put-call volume
1.85
Volume / OI
0.05
Reference IV
0.54
Max pain
91.00
Underlying
91.29
Nearest expiry
31 Jul 2026
Contracts
850
Research Brief
SIG has a bearish chain read with 51/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 86.24–96.34; The largest call open-interest concentration is 97.00; the largest put concentration is 65.00. The most active strike by current volume is 91.00.
Priced range86.24–96.34
Call concentration97.00
Put concentration65.00
Max pain reference91.00
- 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 86.24 to 96.34. Max pain at 91.00 sits inside that range, 0.3% below spot.
Spot
Max pain
86.2491.29 ± 5.0596.34
Confirmation level
A close beyond 96.34 or below 86.24 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 51/100
Pressure is 28/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure28 × 42%
+11.9
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement93 × 26%
+24.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility60 × 10%
+6.0
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 97.00; the largest put concentration is 65.00. The most active strike by current volume is 91.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
111
60.00-34.3%
0
125
65.00-28.8%
0
19
75.00-17.8%
2
41
80.00-12.4%
0
61
82.00-10.2%
1
20
85.00-6.9%
0
21
86.00-5.8%
0
16
87.00-4.7%
7
16
88.00-3.6%
10
42
89.00-2.5%
28
29
91.00-0.3%
512
16
92.000.8%
13
1
96.005.2%
15
81
97.006.3%
526
3
98.007.4%
24
0
99.008.4%
286
0
100.009.5%
21
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.
0.54
31 Jul
1d
0.43
7 Aug
8d
0.47
14 Aug
15d
0.48
21 Aug
22d
0.47
28 Aug
29d
0.52
4 Sep
36d
0.56
11 Sep
43d
0.56
18 Sep
50d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
74
76
78
79
81
83
84
86
88
90
92
93
95
97
98
100
102
104
106
107
109
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
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 850 / 850
- 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 present before a decisive weekly price breakdown.
Put-heavy activity matters because it connects the options headline to the actual evidence: $61714 of estimated gross traded notional, puts · 46-90 days · otm, and a bearish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-28
1W price-0.0%
Call premium21%
Put premium79%
Notional split
C 21% / P 79%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
93/100
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.
Puts · 46-90 days · OTM
puts cluster with 86 contracts traded, $12485 estimated gross traded notional, and 20% of visible notional.
$12485
Puts · 91+ days · OTM
puts cluster with 11 contracts traded, $11282 estimated gross traded notional, and 18% of visible notional.
$11282
Calls · 0-7 days · OTM
calls cluster with 176 contracts traded, $8388 estimated gross traded notional, and 14% of visible notional.
$8388
Puts · 8-21 days · OTM
puts cluster with 160 contracts traded, $8065 estimated gross traded notional, and 13% of visible notional.
$8065
Puts · 8-21 days · ATM
puts cluster with 26 contracts traded, $7648 estimated gross traded notional, and 12% of visible notional.
$7648
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close91.29
1W-0.0%
RS-5.5
Fair value+9.6%
Options pressure-28
Speculation41
Volatility60
Trend fit93
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:52
Bullish
Pressure 76
Move 7.9%
30 Jul 11:24
Mixed
Pressure 3
Move 9.5%
30 Jul 23:38
Mixed
Pressure 0
Move 5.5%
31 Jul 08:44
Bearish
Pressure -28
Move 5.5%
Strike Map
Where activity is clustering
Strike55.00
Calls · V 0 · OI 2
Puts · V 1 · OI 2
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 111
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 125
Strike67.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike68.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike69.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 3
Puts · V 0 · OI 15
Strike71.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts106
Avg IV0.54
Put-call3.33
Expiry7 Aug 2026
Contracts122
Avg IV0.43
Put-call0.13
Expiry14 Aug 2026
Contracts124
Avg IV0.47
Put-call-
Expiry21 Aug 2026
Contracts80
Avg IV0.48
Put-call189.00
Expiry28 Aug 2026
Contracts96
Avg IV0.47
Put-call-
Skew
Call/put IV balance
31 Jul 2026Call IV premium
Call IV0.72
Put IV0.45
Skew-0.26
7 Aug 2026Balanced skew
Call IV0.42
Put IV0.47
Skew0.05
14 Aug 2026Put IV premium
Call IV0.43
Put IV0.50
Skew0.07
21 Aug 2026Balanced skew
Call IV0.52
Put IV0.55
Skew0.03
28 Aug 2026Balanced skew
Call IV0.50
Put IV0.52
Skew0.02
Contract Tape
Most active contracts
ContractSIG260821P00080000
SidePut
Expiry21 Aug 2026
Strike80.00
Volume149
OI34
IV0.29
ContractSIG260807C00105000
SideCall
Expiry7 Aug 2026
Strike105.00
Volume100
OI4
IV0.25
ContractSIG261016P00070000
SidePut
Expiry16 Oct 2026
Strike70.00
Volume72
OI75
IV0.59
ContractSIG260807C00111000
SideCall
Expiry7 Aug 2026
Strike111.00
Volume45
OI-
IV0.39
ContractSIG260821P00091000
SidePut
Expiry21 Aug 2026
Strike91.00
Volume25
OI20
IV0.56
ContractSIG260731P00091000
SidePut
Expiry31 Jul 2026
Strike91.00
Volume19
OI29
IV0.45
ContractSIG260807P00096000
SidePut
Expiry7 Aug 2026
Strike96.00
Volume11
OI-
IV0.46
ContractSIG260821P00070000
SidePut
Expiry21 Aug 2026
Strike70.00
Volume10
OI90
IV0.81
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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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.