Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
M options intelligence
Macy’s Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 29 Jul 2026
Checked 30 Jul 2026 06:22 · complete available chain
Volatility expansion watch
Volatility pressure
M currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 7.5%, with volume/open-interest participation at 0.04.
Expected move
7.5%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
1.86
Put-side skew
Trend fit
74
Options agree with trend context
Weekly backdrop
-1.3%
RS 11.3
Expected move
7.5%
Put-call volume
1.86
Volume / OI
0.04
Reference IV
0.75
Max pain
23.00
Underlying
23.38
Nearest expiry
31 Jul 2026
Contracts
684
Options Intent Radar
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $792832 of estimated gross traded notional, calls · 0-7 days · itm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-30
1W price-1.3%
Call premium64%
Put premium36%
Notional split
C 64% / P 36%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
Volume divided by open interest across the visible chain.
Trend fit
74/100
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.
Calls · 0-7 days · ITM
calls cluster with 309 contracts traded, $266468 estimated gross traded notional, and 34% of visible notional.
$266468
Puts · 46-90 days · OTM
puts cluster with 1075 contracts traded, $82926 estimated gross traded notional, and 10% of visible notional.
$82926
Puts · 8-21 days · ITM
puts cluster with 651 contracts traded, $58810 estimated gross traded notional, and 7% of visible notional.
$58810
Calls · 22-45 days · OTM
calls cluster with 570 contracts traded, $56453 estimated gross traded notional, and 7% of visible notional.
$56453
Puts · 22-45 days · OTM
puts cluster with 1123 contracts traded, $56208 estimated gross traded notional, and 7% of visible notional.
$56208
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.
Underlying price is close to the max-pain zone.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Volume rank100th
Volume/OI rank100th
IV rank100th
Market Context
Underlying confirmation
Close23.38
1W-1.3%
RS11.3
Fair value+45.9%
Options pressure-30
Speculation41
Volatility83
Trend fit74
Today Versus Normal
Stored-options context
30d avg 8.0% · 1 read
0th
90d avg 8.0% · 1 read
0th
180d avg 8.0% · 1 read
0th
30d avg 0.61 · 1 read
100th
90d avg 0.61 · 1 read
100th
180d avg 0.61 · 1 read
100th
30d avg 0.54 · 1 read
100th
90d avg 0.54 · 1 read
100th
180d avg 0.54 · 1 read
100th
30d avg 0.03 · 1 read
100th
90d avg 0.03 · 1 read
100th
180d avg 0.03 · 1 read
100th
Pressure Trail
Recent pressure and volatility
29 Jul 10:37
Volatility
Pressure 30
Move 8.0%
30 Jul 05:22
Volatility
Pressure -30
Move 7.5%
Strike Map
Where activity is clustering
Strike14.00
Calls · V 6 · OI 10
Puts · V 1 · OI 1
Strike15.00
Calls · V 131 · OI 65
Puts · V 0 · OI 1
Strike16.00
Calls · V 131 · OI 43
Puts · V 0 · OI 0
Strike17.00
Calls · V 3 · OI 55
Puts · V 0 · OI 26
Strike17.50
Calls · V 2 · OI 17
Puts · V 1 · OI 0
Strike18.00
Calls · V 0 · OI 12
Puts · V 0 · OI 1
Strike18.50
Calls · V 3 · OI 15
Puts · V 0 · OI 4
Strike19.00
Calls · V 3 · OI 17
Puts · V 0 · OI 8
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts58
Avg IV0.75
Put-call0.83
Expiry7 Aug 2026
Contracts56
Avg IV0.54
Put-call1.08
Expiry14 Aug 2026
Contracts54
Avg IV0.42
Put-call2.76
Expiry21 Aug 2026
Contracts68
Avg IV0.50
Put-call0.31
Expiry28 Aug 2026
Contracts56
Avg IV0.51
Put-call25.45
Skew
Call/put IV balance
31 Jul 2026Balanced skew
Call IV0.49
Put IV0.52
Skew0.03
7 Aug 2026Put IV premium
Call IV0.43
Put IV0.51
Skew0.08
14 Aug 2026Put IV premium
Call IV0.45
Put IV0.52
Skew0.07
21 Aug 2026Put IV premium
Call IV0.42
Put IV0.48
Skew0.06
28 Aug 2026Call IV premium
Call IV0.57
Put IV0.51
Skew-0.06
Contract Tape
Most active contracts
ContractM260828P00022500
SidePut
Expiry28 Aug 2026
Strike22.50
Volume1098
OI5
IV0.51
ContractM260918P00022000
SidePut
Expiry18 Sep 2026
Strike22.00
Volume1029
OI12457
IV0.55
ContractM260731P00022000
SidePut
Expiry31 Jul 2026
Strike22.00
Volume417
OI466
IV0.78
ContractM260731C00027000
SideCall
Expiry31 Jul 2026
Strike27.00
Volume401
OI315
IV0.59
ContractM270115P00020000
SidePut
Expiry15 Jan 2027
Strike20.00
Volume288
OI1234
IV0.53
ContractM260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume165
OI1464
IV0.47
ContractM260814P00024000
SidePut
Expiry14 Aug 2026
Strike24.00
Volume165
OI45
IV0.46
ContractM260821C00027000
SideCall
Expiry21 Aug 2026
Strike27.00
Volume144
OI755
IV0.42
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.