Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
STZ options intelligence
Constellation Brands Inc Class A options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
41
Market data through 31 Jul 2026
Checked 1 Aug 2026 03:00 · complete available chain
Put-side pressure
Bearish pressure
STZ currently carries bearish options pressure with a 41/100 conviction score. The nearest-chain expected move is 0.4%, with volume/open-interest participation at 0.06.
Expected move
0.4%
Near-term move context
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
1.55
Put-side skew
Trend fit
89
Options agree with trend context
Weekly backdrop
+0.8%
RS -17.5
Expected move
0.4%
Put-call volume
1.55
Volume / OI
0.06
Reference IV
0.11
Max pain
132.00
Underlying
130.16
Nearest expiry
31 Jul 2026
Contracts
1226
Research Brief
STZ has a bearish chain read with 41/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 129.64–130.68; The largest call open-interest concentration is 134.00; the largest put concentration is 131.00. The most active strike by current volume is 131.00.
Priced range129.64–130.68
Call concentration134.00
Put concentration131.00
Max pain reference132.00
- 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 129.64 to 130.68. Max pain at 132.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
129.64130.16 ± 0.52130.68
Confirmation level
A close beyond 130.68 or below 129.64 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 41/100
Pressure is 19/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure19 × 42%
+8.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement89 × 26%
+23.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility10 × 10%
+1.0
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 134.00; the largest put concentration is 131.00. The most active strike by current volume is 131.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
159
115.00-11.6%
0
266
120.00-7.8%
15
190
122.00-6.3%
0
143
123.00-5.5%
0
200
124.00-4.7%
0
259
125.00-4.0%
0
148
127.00-2.4%
0
274
128.00-1.7%
2
160
130.00-0.1%
101
691
131.000.6%
38
138
132.001.4%
161
64
133.002.2%
107
9
134.003.0%
399
12
135.003.7%
294
1
136.004.5%
129
1
140.007.6%
131
0
145.0011.4%
256
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.11
31 Jul
0d
0.31
7 Aug
7d
0.31
14 Aug
14d
0.31
21 Aug
21d
0.32
28 Aug
28d
0.32
4 Sep
35d
0.31
11 Sep
42d
0.31
18 Sep
49d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
105
115
118
120
122
124
125
127
129
131
133
135
137
139
141
142
144
146
148
150
155
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
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1226 / 1226
- 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 building while price is rising, a cautionary divergence.
Put-heavy activity matters because it connects the options headline to the actual evidence: $2.4M of estimated gross traded notional, puts · 91+ days · itm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-19
1W price+0.8%
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
0.06
Volume divided by open interest across the visible chain.
Trend fit
89/100
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 · 91+ days · ITM
puts cluster with 165 contracts traded, $829855 estimated gross traded notional, and 35% of visible notional.
$829855
Calls · 91+ days · OTM
calls cluster with 977 contracts traded, $352448 estimated gross traded notional, and 15% of visible notional.
$352448
Puts · 0-7 days · ATM
puts cluster with 1875 contracts traded, $303858 estimated gross traded notional, and 13% of visible notional.
$303858
Puts · 46-90 days · ITM
puts cluster with 110 contracts traded, $281565 estimated gross traded notional, and 12% of visible notional.
$281565
Puts · 91+ days · ATM
puts cluster with 222 contracts traded, $226440 estimated gross traded notional, and 10% of visible notional.
$226440
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Put pressure is building after the stock has already moved below fair value.
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
Close130.23
1W+0.8%
RS-17.5
Fair value-32.6%
Options pressure-19
Speculation41
Volatility10
Trend fit89
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 10:15
Bullish
Pressure 31
Move 3.3%
30 Jul 10:12
Mixed
Pressure 11
Move 2.9%
31 Jul 10:05
Mixed
Pressure -13
Move 2.4%
1 Aug 02:00
Bearish
Pressure -19
Move 0.4%
Strike Map
Where activity is clustering
Strike70.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts118
Avg IV0.11
Put-call2.31
Expiry7 Aug 2026
Contracts116
Avg IV0.31
Put-call2.58
Expiry14 Aug 2026
Contracts110
Avg IV0.31
Put-call10.20
Expiry21 Aug 2026
Contracts116
Avg IV0.31
Put-call2.44
Expiry28 Aug 2026
Contracts98
Avg IV0.32
Put-call0.50
Skew
Call/put IV balance
31 Jul 2026Balanced skew
Call IV0.06
Put IV0.02
Skew-0.04
7 Aug 2026Balanced skew
Call IV0.34
Put IV0.34
Skew-
14 Aug 2026Call IV premium
Call IV0.44
Put IV0.30
Skew-0.15
21 Aug 2026Balanced skew
Call IV0.32
Put IV0.31
Skew-0.01
28 Aug 2026Balanced skew
Call IV0.28
Put IV0.31
Skew0.03
Contract Tape
Most active contracts
ContractSTZ260731P00131000
SidePut
Expiry31 Jul 2026
Strike131.00
Volume874
OI691
IV0.17
ContractSTZ260807P00131000
SidePut
Expiry7 Aug 2026
Strike131.00
Volume765
OI19
IV0.31
ContractSTZ260731C00134000
SideCall
Expiry31 Jul 2026
Strike134.00
Volume322
OI399
IV0.25
ContractSTZ261218C00165000
SideCall
Expiry18 Dec 2026
Strike165.00
Volume252
OI36
IV0.33
ContractSTZ280121C00170000
SideCall
Expiry21 Jan 2028
Strike170.00
Volume246
OI1590
IV0.31
ContractSTZ261218C00190000
SideCall
Expiry18 Dec 2026
Strike190.00
Volume224
OI1427
IV0.36
ContractSTZ261218P00130000
SidePut
Expiry18 Dec 2026
Strike130.00
Volume222
OI1404
IV0.35
ContractSTZ260807P00125000
SidePut
Expiry7 Aug 2026
Strike125.00
Volume221
OI310
IV0.37
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.