Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
AN options intelligence
AutoNation Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 31 Jul 2026
Checked 1 Aug 2026 20:08 · complete available chain
Put-side pressure
Bearish pressure
AN currently carries bearish options pressure with a 53/100 conviction score. The nearest-chain expected move is 6.4%, with volume/open-interest participation at 0.15.
Expected move
6.4%
Wider near-term move priced
Activity / OI
0.15
Current volume is quieter versus prior open interest
Put-call
1.80
Put-side skew
Trend fit
99
Options agree with trend context
Weekly backdrop
+2.0%
RS -4.6
Expected move
6.4%
Put-call volume
1.80
Volume / OI
0.15
Reference IV
0.36
Max pain
200.00
Underlying
212.40
Nearest expiry
21 Aug 2026
Contracts
322
Research Brief
AN has a bearish chain read with 53/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 198.80–226.00; The largest call open-interest concentration is 240.00; the largest put concentration is 120.00. The most active strike by current volume is 220.00.
Priced range198.80–226.00
Call concentration240.00
Put concentration120.00
Max pain reference200.00
- 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 198.80 to 226.00. Max pain at 200.00 sits inside that range, 5.8% below spot.
Spot
Max pain
198.80212.40 ± 13.60226.00
Confirmation level
A close beyond 226.00 or below 198.80 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 53/100
Pressure is 38/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure38 × 42%
+16.0
How strongly activity leans toward calls or puts.
Participation30 × 22%
+6.6
Volume relative to existing open interest and contract-level activity.
Trend agreement99 × 26%
+25.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility51 × 10%
+5.1
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 240.00; the largest put concentration is 120.00. The most active strike by current volume is 220.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
418
120.00-43.5%
0
3
140.00-34.1%
0
48
145.00-31.7%
1
55
150.00-29.4%
0
22
160.00-24.7%
1
9
170.00-20.0%
3
6
175.00-17.6%
14
7
180.00-15.3%
97
4
185.00-12.9%
4
30
190.00-10.5%
10
21
195.00-8.2%
9
57
200.00-5.8%
4
92
210.00-1.1%
29
12
220.003.6%
43
5
230.008.3%
21
0
240.0013.0%
107
0
300.0041.2%
4
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.
0.36
21 Aug
21d
0.36
18 Sep
49d
0.36
16 Oct
77d
0.38
20 Nov
112d
0.37
15 Jan
168d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
170
175
180
185
190
195
200
210
220
230
240
250
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
- 322 / 322
- 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: $161195 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-38
1W price+2.0%
Call premium50%
Put premium50%
Notional split
C 50% / P 50%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.15
Volume divided by open interest across the visible chain.
Trend fit
99/100
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 6 contracts traded, $40245 estimated gross traded notional, and 25% of visible notional.
$40245
Calls · 91+ days · ITM
calls cluster with 3 contracts traded, $33890 estimated gross traded notional, and 21% of visible notional.
$33890
Calls · 8-21 days · OTM
calls cluster with 117 contracts traded, $30545 estimated gross traded notional, and 19% of visible notional.
$30545
Puts · 8-21 days · OTM
puts cluster with 135 contracts traded, $11002 estimated gross traded notional, and 7% of visible notional.
$11002
Puts · 8-21 days · ITM
puts cluster with 7 contracts traded, $8445 estimated gross traded notional, and 5% of visible notional.
$8445
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close212.40
1W+2.0%
RS-4.6
Fair value+19.2%
Options pressure-38
Speculation30
Volatility51
Trend fit99
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 10:35
Volatility
Pressure 75
Move 10.6%
30 Jul 10:32
Bullish
Pressure 40
Move 13.2%
31 Jul 12:28
Mixed
Pressure -3
Move 9.8%
31 Jul 13:58
Bearish
Pressure -21
Move 8.1%
31 Jul 15:04
Bearish
Pressure -25
Move 7.6%
31 Jul 16:40
Mixed
Pressure -18
Move 7.4%
1 Aug 11:06
Bearish
Pressure -38
Move 6.5%
1 Aug 19:08
Bearish
Pressure -38
Move 6.4%
Strike Map
Where activity is clustering
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike110.00
Calls · V 0 · OI 1
Puts · V 0 · OI 2
Strike115.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike120.00
Calls · V 0 · OI 0
Puts · V 0 · OI 418
Strike125.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike130.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike135.00
Calls · V 0 · OI 0
Puts · V 5 · OI 2
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts68
Avg IV0.36
Put-call1.29
Expiry18 Sep 2026
Contracts58
Avg IV0.36
Put-call13.50
Expiry16 Oct 2026
Contracts60
Avg IV0.36
Put-call-
Expiry20 Nov 2026
Contracts70
Avg IV0.38
Put-call1.00
Expiry15 Jan 2027
Contracts66
Avg IV0.37
Put-call2.00
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.31
Put IV0.39
Skew0.08
18 Sep 2026Put IV premium
Call IV0.31
Put IV0.37
Skew0.06
16 Oct 2026Balanced skew
Call IV0.35
Put IV0.37
Skew0.02
20 Nov 2026Balanced skew
Call IV0.35
Put IV0.40
Skew0.05
15 Jan 2027Balanced skew
Call IV0.33
Put IV0.38
Skew0.05
Contract Tape
Most active contracts
ContractAN260821C00220000
SideCall
Expiry21 Aug 2026
Strike220.00
Volume85
OI43
IV0.31
ContractAN260918P00140000
SidePut
Expiry18 Sep 2026
Strike140.00
Volume66
OI-
IV0.39
ContractAN260821P00150000
SidePut
Expiry21 Aug 2026
Strike150.00
Volume55
OI55
IV0.49
ContractAN260821P00190000
SidePut
Expiry21 Aug 2026
Strike190.00
Volume31
OI30
IV0.44
ContractAN260821P00210000
SidePut
Expiry21 Aug 2026
Strike210.00
Volume15
OI92
IV0.33
ContractAN260821C00240000
SideCall
Expiry21 Aug 2026
Strike240.00
Volume14
OI107
IV0.18
ContractAN260821P00185000
SidePut
Expiry21 Aug 2026
Strike185.00
Volume12
OI4
IV0.52
ContractAN260821P00200000
SidePut
Expiry21 Aug 2026
Strike200.00
Volume11
OI57
IV0.39
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.