Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
ADBE options intelligence
Adobe Systems Incorporated options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 31 Jul 2026
Checked 1 Aug 2026 11:29 · partial chain
Call-side pressure
Bullish pressure
ADBE currently carries bullish options pressure with a 40/100 conviction score. The nearest-chain expected move is 5.7%, with volume/open-interest participation at 0.05.
Expected move
5.7%
Near-term move context
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.40
Call-side skew
Trend fit
19
Options are not fully confirming trend
Weekly backdrop
+11.2%
RS -22.1
Expected move
5.7%
Put-call volume
0.40
Volume / OI
0.05
Reference IV
0.51
Max pain
227.50
Underlying
250.41
Nearest expiry
7 Aug 2026
Contracts
2000
Research Brief
ADBE has a bullish chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 236.14–264.68; The largest call open-interest concentration is 225.00; the largest put concentration is 150.00. The most active strike by current volume is 265.00.
Priced range236.14–264.68
Call concentration225.00
Put concentration150.00
Max pain reference227.50
- 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 236.14 to 264.68. Max pain at 227.50 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
236.14250.41 ± 14.27264.68
Confirmation level
A close beyond 264.68 or below 236.14 at the 7 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 40/100
Pressure is 49/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure49 × 42%
+20.4
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement19 × 26%
+4.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility58 × 10%
+5.8
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 225.00; the largest put concentration is 150.00. The most active strike by current volume is 265.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1171
150.00-40.1%
237
874
160.00-36.1%
0
753
215.00-14.1%
302
305
225.00-10.1%
2032
148
230.00-8.2%
429
550
235.00-6.2%
476
518
237.50-5.2%
97
413
240.00-4.2%
643
494
245.00-2.2%
539
111
250.00-0.2%
397
110
252.500.8%
586
148
255.001.8%
586
395
260.003.8%
1027
20
265.005.8%
476
8
267.506.8%
46
0
275.009.8%
193
15
280.0011.8%
301
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.
0.51
7 Aug
7d
0.49
14 Aug
14d
0.47
21 Aug
21d
0.50
28 Aug
28d
0.49
4 Sep
35d
0.56
11 Sep
42d
0.54
18 Sep
49d
0.51
16 Oct
77d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
203
208
213
218
223
228
233
238
243
248
253
255
260
265
270
275
280
285
290
295
300
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
Good
Retained chain95%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 2110
- 95% of provider contracts were retained for this snapshot.
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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $27.8M of estimated gross traded notional, puts · 8-21 days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+49
1W price+11.2%
Call premium53%
Put premium47%
Notional split
C 53% / P 47%
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
19/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Puts · 8-21 days · ITM
puts cluster with 634 contracts traded, $5.9M estimated gross traded notional, and 21% of visible notional.
$5.9M
Calls · 91+ days · OTM
calls cluster with 4439 contracts traded, $4.7M estimated gross traded notional, and 17% of visible notional.
$4.7M
Puts · 91+ days · OTM
puts cluster with 1328 contracts traded, $4.2M estimated gross traded notional, and 15% of visible notional.
$4.2M
Calls · 0-7 days · OTM
calls cluster with 10419 contracts traded, $1.9M estimated gross traded notional, and 7% of visible notional.
$1.9M
Calls · 8-21 days · ITM
calls cluster with 499 contracts traded, $1.4M estimated gross traded notional, and 5% of visible notional.
$1.4M
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
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
Close250.41
1W+11.2%
RS-22.1
Fair value-41.2%
Options pressure49
Speculation41
Volatility58
Trend fit19
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 10:02
Bullish
Pressure 39
Move 11.2%
30 Jul 10:02
Bullish
Pressure 29
Move 17.3%
31 Jul 08:40
Mixed
Pressure -2
Move 10.4%
1 Aug 00:26
Bullish
Pressure 41
Move 11.4%
1 Aug 10:29
Bullish
Pressure 49
Move 5.7%
Strike Map
Where activity is clustering
Strike130.00
Calls · V 0 · OI 0
Puts · V 3 · OI 272
Strike135.00
Calls · V 0 · OI 140
Puts · V 0 · OI 354
Strike140.00
Calls · V 0 · OI 1
Puts · V 0 · OI 335
Strike145.00
Calls · V 0 · OI 9
Puts · V 2 · OI 158
Strike150.00
Calls · V 0 · OI 237
Puts · V 0 · OI 1171
Strike155.00
Calls · V 0 · OI 1
Puts · V 0 · OI 276
Strike160.00
Calls · V 0 · OI 0
Puts · V 0 · OI 874
Strike165.00
Calls · V 1 · OI 1
Puts · V 0 · OI 206
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts130
Avg IV0.51
Put-call0.23
Expiry14 Aug 2026
Contracts128
Avg IV0.49
Put-call0.44
Expiry21 Aug 2026
Contracts204
Avg IV0.47
Put-call1.31
Expiry28 Aug 2026
Contracts86
Avg IV0.50
Put-call0.62
Expiry4 Sep 2026
Contracts86
Avg IV0.49
Put-call0.76
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.51
Put IV0.51
Skew-
14 Aug 2026Balanced skew
Call IV0.48
Put IV0.49
Skew0.01
21 Aug 2026Balanced skew
Call IV0.48
Put IV0.50
Skew0.02
28 Aug 2026Balanced skew
Call IV0.47
Put IV0.48
Skew0.01
4 Sep 2026Balanced skew
Call IV0.52
Put IV0.48
Skew-0.04
Contract Tape
Most active contracts
ContractADBE260807C00265000
SideCall
Expiry7 Aug 2026
Strike265.00
Volume4237
OI476
IV0.51
ContractADBE260807C00275000
SideCall
Expiry7 Aug 2026
Strike275.00
Volume2310
OI193
IV0.54
ContractADBE260807C00267500
SideCall
Expiry7 Aug 2026
Strike267.50
Volume1783
OI46
IV0.52
ContractADBE280121P00230000
SidePut
Expiry21 Jan 2028
Strike230.00
Volume914
OI1400
IV0.49
ContractADBE260821P00210000
SidePut
Expiry21 Aug 2026
Strike210.00
Volume911
OI1715
IV0.51
ContractADBE270617C00330000
SideCall
Expiry17 Jun 2027
Strike330.00
Volume847
OI350
IV0.48
ContractADBE260807P00237500
SidePut
Expiry7 Aug 2026
Strike237.50
Volume806
OI518
IV0.50
ContractADBE270115C00600000
SideCall
Expiry15 Jan 2027
Strike600.00
Volume710
OI2506
IV0.58
Research Graph
Related research and context
Sharemaestro research
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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.