Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
COLM options intelligence
Columbia Sportswear Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 30 Jul 2026
Checked 31 Jul 2026 12:08 · complete available chain
Volatility expansion watch
Volatility pressure
COLM currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 12.2%, with volume/open-interest participation at 0.27.
Expected move
12.2%
Wider near-term move priced
Activity / OI
0.27
Current volume is quieter versus prior open interest
Put-call
0.62
Call-side skew
Trend fit
78
Options agree with trend context
Weekly backdrop
-4.7%
RS -4.6
Expected move
12.2%
Put-call volume
0.62
Volume / OI
0.27
Reference IV
0.52
Max pain
65.00
Underlying
62.32
Nearest expiry
21 Aug 2026
Contracts
112
Research Brief
COLM has a volatility chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 54.72–69.92; The largest call open-interest concentration is 70.00; the largest put concentration is 50.00. The most active strike by current volume is 65.00.
Priced range54.72–69.92
Call concentration70.00
Put concentration50.00
Max pain reference65.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 54.72 to 69.92. Max pain at 65.00 sits inside that range, 4.3% above spot.
Spot
Max pain
54.7262.32 ± 7.6069.92
Confirmation level
A close beyond 69.92 or below 54.72 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 49/100
Pressure is 26/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure26 × 42%
+10.9
How strongly activity leans toward calls or puts.
Participation46 × 22%
+10.2
Volume relative to existing open interest and contract-level activity.
Trend agreement78 × 26%
+20.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility77 × 10%
+7.7
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 70.00; the largest put concentration is 50.00. The most active strike by current volume is 65.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
35.00-43.8%
0
0
40.00-35.8%
0
0
45.00-27.8%
0
6
50.00-19.8%
0
6
55.00-11.7%
0
5
60.00-3.7%
4
5
65.004.3%
10
0
70.0012.3%
38
0
75.0020.3%
6
0
80.0028.4%
3
0
85.0036.4%
0
0
90.0044.4%
1
0
95.0052.4%
0
0
100.0060.5%
0
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.
0.52
21 Aug
22d
0.35
18 Sep
50d
0.41
16 Oct
78d
0.38
15 Jan
169d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
50
55
60
65
70
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
- 112 / 112
- 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
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: $17690 of estimated gross traded notional, calls · 8-21 days · otm, 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+26
1W price-4.7%
Call premium73%
Put premium27%
Notional split
C 73% / P 27%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.27
Volume divided by open interest across the visible chain.
Trend fit
78/100
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 · 8-21 days · OTM
calls cluster with 58 contracts traded, $12905 estimated gross traded notional, and 73% of visible notional.
$12905
Puts · 8-21 days · OTM
puts cluster with 32 contracts traded, $3045 estimated gross traded notional, and 17% of visible notional.
$3045
Puts · 8-21 days · ITM
puts cluster with 4 contracts traded, $1740 estimated gross traded notional, and 10% of visible notional.
$1740
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.
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
Close59.38
1W-4.7%
RS-4.6
Fair value-13.3%
Options pressure26
Speculation46
Volatility77
Trend fit78
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 - · 1/10 sessions
-
90d avg - · 1/30 sessions
-
180d avg - · 1/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:52
Bullish
Pressure 100
Move 11.6%
30 Jul 10:42
Bearish
Pressure -97
Move 11.4%
30 Jul 15:30
Volatility
Pressure 14
Move 11.6%
30 Jul 15:48
Volatility
Pressure 14
Move 11.6%
30 Jul 19:47
Volatility
Pressure 11
Move 12.0%
31 Jul 11:08
Volatility
Pressure 26
Move 12.2%
Strike Map
Where activity is clustering
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Strike55.00
Calls · V 0 · OI 0
Puts · V 31 · OI 6
Strike60.00
Calls · V 0 · OI 4
Puts · V 1 · OI 5
Strike65.00
Calls · V 58 · OI 10
Puts · V 4 · OI 5
Strike70.00
Calls · V 0 · OI 38
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts28
Avg IV0.52
Put-call0.62
Expiry18 Sep 2026
Contracts26
Avg IV0.35
Put-call-
Expiry16 Oct 2026
Contracts28
Avg IV0.41
Put-call-
Expiry15 Jan 2027
Contracts30
Avg IV0.38
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.50
Put IV0.61
Skew0.11
18 Sep 2026Put IV premium
Call IV0.37
Put IV0.43
Skew0.07
16 Oct 2026Put IV premium
Call IV0.40
Put IV0.47
Skew0.08
15 Jan 2027Balanced skew
Call IV0.36
Put IV0.39
Skew0.03
Contract Tape
Most active contracts
ContractCOLM260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume58
OI10
IV0.50
ContractCOLM260821P00055000
SidePut
Expiry21 Aug 2026
Strike55.00
Volume31
OI6
IV0.61
ContractCOLM260821P00065000
SidePut
Expiry21 Aug 2026
Strike65.00
Volume4
OI5
IV0.51
ContractCOLM260821P00060000
SidePut
Expiry21 Aug 2026
Strike60.00
Volume1
OI5
IV0.64
ContractCOLM261016P00035000
SidePut
Expiry16 Oct 2026
Strike35.00
Volume-
OI48
IV0.47
ContractCOLM260821C00070000
SideCall
Expiry21 Aug 2026
Strike70.00
Volume-
OI38
IV0.19
ContractCOLM261016C00045000
SideCall
Expiry16 Oct 2026
Strike45.00
Volume-
OI20
IV0.51
ContractCOLM270115P00030000
SidePut
Expiry15 Jan 2027
Strike30.00
Volume-
OI16
IV0.41
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.