Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
OLN options intelligence
Olin Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 31 Jul 2026
Checked 31 Jul 2026 18:22 · complete available chain
Call-side pressure
Bullish pressure
OLN currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 16.9%, with volume/open-interest participation at 0.08.
Expected move
16.9%
Wider near-term move priced
Activity / OI
0.08
Current volume is quieter versus prior open interest
Put-call
0.62
Call-side skew
Trend fit
44
Options are not fully confirming trend
Weekly backdrop
-20.2%
RS -26.9
Expected move
16.9%
Put-call volume
0.62
Volume / OI
0.08
Reference IV
0.74
Max pain
22.50
Underlying
23.20
Nearest expiry
21 Aug 2026
Contracts
141
Research Brief
OLN has a bullish chain read with 42/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.27–27.13; The largest call open-interest concentration is 25.00; the largest put concentration is 20.00. The most active strike by current volume is 17.50.
Priced range19.27–27.13
Call concentration25.00
Put concentration20.00
Max pain reference22.50
- 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.
- Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.
Priced Move
Where the chain says movement becomes exceptional
Options imply 19.27 to 27.13. Max pain at 22.50 sits inside that range, 3.0% below spot.
Spot
Max pain
19.2723.20 ± 3.9327.13
Confirmation level
A close beyond 27.13 or below 19.27 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 42/100
Pressure is 30/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure30 × 42%
+12.5
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement44 × 26%
+11.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility92 × 10%
+9.2
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 25.00; the largest put concentration is 20.00. The most active strike by current volume is 17.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
17
12.50-46.1%
14
90
15.00-35.3%
1
859
17.50-24.6%
24
2198
20.00-13.8%
235
381
22.50-3.0%
1823
1703
25.007.8%
6617
324
27.5018.5%
3302
29
30.0029.3%
1252
0
32.5040.1%
482
16
35.0050.9%
236
1
37.5061.6%
187
0
40.0072.4%
251
0
42.5083.2%
144
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.74
21 Aug
21d
0.68
18 Sep
49d
0.41
16 Oct
77d
0.57
20 Nov
112d
0.46
15 Jan
168d
0.54
19 Feb
203d
0.46
21 Jan
539d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
20
23
25
28
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 141 / 141
- 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.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Put-heavy activity matters because it connects the options headline to the actual evidence: $599741 of estimated gross traded notional, puts · 91+ days · itm, 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+30
1W price-20.2%
Call premium37%
Put premium63%
Notional split
C 37% / P 63%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.08
Volume divided by open interest across the visible chain.
Trend fit
44/100
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 132 contracts traded, $201438 estimated gross traded notional, and 34% of visible notional.
$201438
Calls · 91+ days · ITM
calls cluster with 288 contracts traded, $91572 estimated gross traded notional, and 15% of visible notional.
$91572
Puts · 91+ days · OTM
puts cluster with 539 contracts traded, $67038 estimated gross traded notional, and 11% of visible notional.
$67038
Calls · 91+ days · OTM
calls cluster with 467 contracts traded, $52816 estimated gross traded notional, and 9% of visible notional.
$52816
Puts · 8-21 days · ITM
puts cluster with 58 contracts traded, $52260 estimated gross traded notional, and 9% of visible notional.
$52260
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close18.51
1W-20.2%
RS-26.9
Fair value-45.1%
Options pressure30
Speculation42
Volatility92
Trend fit44
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 10:54
Bullish
Pressure 34
Move 13.1%
30 Jul 10:45
Bullish
Pressure 39
Move 12.7%
30 Jul 22:14
Mixed
Pressure 5
Move 11.9%
31 Jul 13:07
Volatility
Pressure -54
Move 11.9%
31 Jul 17:22
Bullish
Pressure 30
Move 16.9%
Strike Map
Where activity is clustering
Strike12.50
Calls · V 5 · OI 14
Puts · V 5 · OI 17
Strike15.00
Calls · V 1 · OI 1
Puts · V 30 · OI 90
Strike17.50
Calls · V 104 · OI 24
Puts · V 278 · OI 859
Strike20.00
Calls · V 109 · OI 235
Puts · V 23 · OI 2198
Strike22.50
Calls · V 51 · OI 1823
Puts · V 29 · OI 381
Strike25.00
Calls · V 166 · OI 6617
Puts · V 19 · OI 1703
Strike27.50
Calls · V 11 · OI 3302
Puts · V 31 · OI 324
Strike30.00
Calls · V 22 · OI 1252
Puts · V 1 · OI 29
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts24
Avg IV0.74
Put-call0.67
Expiry18 Sep 2026
Contracts7
Avg IV0.68
Put-call4.11
Expiry16 Oct 2026
Contracts27
Avg IV0.41
Put-call0.18
Expiry20 Nov 2026
Contracts19
Avg IV0.57
Put-call2.85
Expiry15 Jan 2027
Contracts23
Avg IV0.46
Put-call0.44
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.69
Put IV0.94
Skew0.24
18 Sep 2026Balanced skew
Call IV0.72
Put IV0.69
Skew-0.03
16 Oct 2026Put IV premium
Call IV0.54
Put IV0.66
Skew0.12
20 Nov 2026Balanced skew
Call IV0.54
Put IV0.58
Skew0.04
15 Jan 2027Balanced skew
Call IV0.50
Put IV0.55
Skew0.05
Contract Tape
Most active contracts
ContractOLN270115P00007500
SidePut
Expiry15 Jan 2027
Strike7.50
Volume-
OI12
IV1.59
ContractOLN261120C00042500
SideCall
Expiry20 Nov 2026
Strike42.50
Volume-
OI9
IV1.28
ContractOLN280121P00005000
SidePut
Expiry21 Jan 2028
Strike5.00
Volume-
OI2
IV0.88
ContractOLN270219C00022500
SideCall
Expiry19 Feb 2027
Strike22.50
Volume-
OI1
IV0.51
ContractOLN270219C00040000
SideCall
Expiry19 Feb 2027
Strike40.00
Volume-
OI1
IV0.80
ContractOLN280121P00037500
SidePut
Expiry21 Jan 2028
Strike37.50
Volume-
OI-
IV0.00
ContractOLN261120P00015000
SidePut
Expiry20 Nov 2026
Strike15.00
Volume284
OI63
IV0.60
ContractOLN260821P00017500
SidePut
Expiry21 Aug 2026
Strike17.50
Volume278
OI859
IV0.56
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
No upcoming matched earnings event.
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.