Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
NWPX options intelligence
Northwest Pipe Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
50
Market data through 30 Jul 2026
Checked 31 Jul 2026 12:02 · complete available chain
Call-side pressure
Bullish pressure
NWPX currently carries bullish options pressure with a 50/100 conviction score. The nearest-chain expected move is 9.2%, with volume/open-interest participation at 0.06.
Expected move
9.2%
Wider near-term move priced
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.68
Call-side skew
Trend fit
86
Options agree with trend context
Weekly backdrop
-4.8%
RS 43.4
Expected move
9.2%
Put-call volume
0.68
Volume / OI
0.06
Reference IV
0.45
Max pain
125.00
Underlying
129.31
Nearest expiry
21 Aug 2026
Contracts
244
Research Brief
NWPX has a bullish chain read with 50/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 117.46–141.16; The largest call open-interest concentration is 125.00; the largest put concentration is 120.00. The most active strike by current volume is 130.00.
Priced range117.46–141.16
Call concentration125.00
Put concentration120.00
Max pain reference125.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 117.46 to 141.16. Max pain at 125.00 sits inside that range, 3.3% below spot.
Spot
Max pain
117.46129.31 ± 11.85141.16
Confirmation level
A close beyond 141.16 or below 117.46 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 50/100
Pressure is 29/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure29 × 42%
+12.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement86 × 26%
+22.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility68 × 10%
+6.8
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 125.00; the largest put concentration is 120.00. The most active strike by current volume is 130.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
2
95.00-26.5%
0
1
100.00-22.7%
0
8
105.00-18.8%
0
8
110.00-14.9%
0
4
115.00-11.1%
20
26
120.00-7.2%
0
8
125.00-3.3%
21
8
130.000.5%
1
3
135.004.4%
7
2
140.008.3%
4
4
145.0012.1%
9
0
150.0016.0%
19
0
155.0019.9%
9
1
160.0023.7%
4
0
165.0027.6%
3
0
170.0031.5%
9
0
175.0035.3%
2
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.
0.45
21 Aug
22d
0.44
18 Sep
50d
0.46
18 Dec
141d
0.46
19 Mar
232d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
105
110
115
120
125
130
135
140
145
150
155
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 244 / 244
- 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 are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $33082 of estimated gross traded notional, calls · 8-21 days · atm, 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+29
1W price-4.8%
Call premium68%
Put premium32%
Notional split
C 68% / P 32%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
86/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 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 · 8-21 days · ATM
calls cluster with 27 contracts traded, $12825 estimated gross traded notional, and 39% of visible notional.
$12825
Calls · 91+ days · ITM
calls cluster with 3 contracts traded, $8945 estimated gross traded notional, and 27% of visible notional.
$8945
Puts · 8-21 days · ATM
puts cluster with 10 contracts traded, $7100 estimated gross traded notional, and 21% of visible notional.
$7100
Puts · 8-21 days · OTM
puts cluster with 10 contracts traded, $2958 estimated gross traded notional, and 9% of visible notional.
$2958
Calls · 8-21 days · OTM
calls cluster with 4 contracts traded, $880 estimated gross traded notional, and 3% of visible notional.
$880
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.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close123.08
1W-4.8%
RS43.4
Fair value+135.8%
Options pressure29
Speculation41
Volatility68
Trend fit86
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 11:11
Bullish
Pressure 35
Move 10.4%
30 Jul 10:57
Bearish
Pressure -43
Move 10.7%
31 Jul 11:02
Bullish
Pressure 29
Move 9.2%
Strike Map
Where activity is clustering
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike105.00
Calls · V 0 · OI 0
Puts · V 5 · OI 8
Strike110.00
Calls · V 0 · OI 0
Puts · V 1 · OI 8
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts52
Avg IV0.45
Put-call0.65
Expiry18 Sep 2026
Contracts68
Avg IV0.44
Put-call-
Expiry18 Dec 2026
Contracts68
Avg IV0.46
Put-call-
Expiry19 Mar 2027
Contracts56
Avg IV0.46
Put-call3.00
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.65
Put IV0.45
Skew-0.20
18 Sep 2026Put IV premium
Call IV0.42
Put IV0.48
Skew0.06
18 Dec 2026Balanced skew
Call IV0.43
Put IV0.46
Skew0.03
19 Mar 2027Balanced skew
Call IV0.45
Put IV0.46
Skew0.01
Contract Tape
Most active contracts
ContractNWPX260821C00130000
SideCall
Expiry21 Aug 2026
Strike130.00
Volume27
OI1
IV0.48
ContractNWPX260821P00130000
SidePut
Expiry21 Aug 2026
Strike130.00
Volume10
OI8
IV0.44
ContractNWPX260821P00105000
SidePut
Expiry21 Aug 2026
Strike105.00
Volume5
OI8
IV0.30
ContractNWPX260821P00125000
SidePut
Expiry21 Aug 2026
Strike125.00
Volume4
OI8
IV0.43
ContractNWPX260821C00140000
SideCall
Expiry21 Aug 2026
Strike140.00
Volume4
OI4
IV0.16
ContractNWPX261218C00115000
SideCall
Expiry18 Dec 2026
Strike115.00
Volume1
OI39
IV0.46
ContractNWPX261218C00100000
SideCall
Expiry18 Dec 2026
Strike100.00
Volume1
OI33
IV0.50
ContractNWPX260821P00110000
SidePut
Expiry21 Aug 2026
Strike110.00
Volume1
OI8
IV0.72
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.