Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
JKHY options intelligence
Jack Henry & Associates Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 31 Jul 2026
Checked 1 Aug 2026 06:21 · complete available chain
Call-side pressure
Bullish pressure
JKHY currently carries bullish options pressure with a 43/100 conviction score. The nearest-chain expected move is 8.2%, with volume/open-interest participation at 0.05.
Expected move
8.2%
Wider near-term move priced
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.07
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+2.3%
RS -11.3
Expected move
8.2%
Put-call volume
0.07
Volume / OI
0.05
Reference IV
0.39
Max pain
145.00
Underlying
150.58
Nearest expiry
21 Aug 2026
Contracts
226
Research Brief
JKHY has a bullish chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 138.30–162.86; The largest call open-interest concentration is 145.00; the largest put concentration is 145.00. The most active strike by current volume is 90.00.
Priced range138.30–162.86
Call concentration145.00
Put concentration145.00
Max pain reference145.00
- 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 138.30 to 162.86. Max pain at 145.00 sits inside that range, 3.7% below spot.
Spot
Max pain
138.30150.58 ± 12.28162.86
Confirmation level
A close beyond 162.86 or below 138.30 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 43/100
Pressure is 85/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure85 × 42%
+35.8
How strongly activity leans toward calls or puts.
Participation7 × 22%
+1.4
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility60 × 10%
+6.0
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 145.00; the largest put concentration is 145.00. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
6
90.00-40.2%
0
0
95.00-36.9%
0
2
100.00-33.6%
0
1
105.00-30.3%
0
5
120.00-20.3%
2
4
125.00-17.0%
3
9
130.00-13.7%
16
13
135.00-10.3%
18
24
140.00-7.0%
29
338
145.00-3.7%
139
4
150.00-0.4%
41
0
155.002.9%
46
0
160.006.3%
35
0
165.009.6%
72
0
170.0012.9%
20
0
175.0016.2%
5
0
185.0022.9%
3
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.
0.39
21 Aug
21d
0.34
18 Sep
49d
0.33
18 Dec
140d
0.33
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
125
130
135
140
145
150
155
160
165
170
175
180
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
- 226 / 226
- 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
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options pressure and weekly price action are pointing in the same constructive direction.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $71502 of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+85
1W price+2.3%
Call premium99%
Put premium1%
Notional split
C 99% / P 1%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
18 Aug
Matched earnings event is 17 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 91+ days · OTM
calls cluster with 104 contracts traded, $59800 estimated gross traded notional, and 84% of visible notional.
$59800
Calls · 91+ days · ITM
calls cluster with 2 contracts traded, $5710 estimated gross traded notional, and 8% of visible notional.
$5710
Calls · 8-21 days · ITM
calls cluster with 3 contracts traded, $3345 estimated gross traded notional, and 5% of visible notional.
$3345
Calls · 8-21 days · OTM
calls cluster with 4 contracts traded, $1810 estimated gross traded notional, and 3% of visible notional.
$1810
Puts · 8-21 days · ATM
puts cluster with 1 contracts traded, $402 estimated gross traded notional, and 1% of visible notional.
$402
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.
Options positioning is not confirming the underlying trend context.
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
Close154.04
1W+2.3%
RS-11.3
Fair value-5.2%
Options pressure85
Speculation7
Volatility60
Trend fit0
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 10:28
Bullish
Pressure 71
Move 9.1%
30 Jul 10:24
Bearish
Pressure -49
Move 10.4%
30 Jul 23:53
Bullish
Pressure 25
Move 7.9%
31 Jul 16:46
Mixed
Pressure 12
Move 8.0%
31 Jul 18:01
Mixed
Pressure 11
Move 8.3%
1 Aug 00:01
Mixed
Pressure 11
Move 8.2%
1 Aug 05:21
Bullish
Pressure 85
Move 8.2%
Strike Map
Where activity is clustering
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 4 · OI 6
Strike95.00
Calls · V 0 · OI 0
Puts · V 2 · OI 0
Strike100.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts48
Avg IV0.39
Put-call1.14
Expiry18 Sep 2026
Contracts66
Avg IV0.34
Put-call-
Expiry18 Dec 2026
Contracts56
Avg IV0.33
Put-call-
Expiry19 Mar 2027
Contracts56
Avg IV0.33
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.39
Put IV0.41
Skew0.03
18 Sep 2026Put IV premium
Call IV0.32
Put IV0.39
Skew0.07
18 Dec 2026Balanced skew
Call IV0.32
Put IV0.36
Skew0.04
19 Mar 2027Balanced skew
Call IV0.32
Put IV0.36
Skew0.04
Contract Tape
Most active contracts
ContractJKHY270319C00190000
SideCall
Expiry19 Mar 2027
Strike190.00
Volume104
OI-
IV0.32
ContractJKHY260821P00090000
SidePut
Expiry21 Aug 2026
Strike90.00
Volume4
OI6
IV0.77
ContractJKHY260821C00145000
SideCall
Expiry21 Aug 2026
Strike145.00
Volume3
OI139
IV0.37
ContractJKHY260821C00155000
SideCall
Expiry21 Aug 2026
Strike155.00
Volume3
OI46
IV0.39
ContractJKHY261218C00130000
SideCall
Expiry18 Dec 2026
Strike130.00
Volume2
OI23
IV0.33
ContractJKHY260821P00095000
SidePut
Expiry21 Aug 2026
Strike95.00
Volume2
OI-
IV0.69
ContractJKHY260821C00165000
SideCall
Expiry21 Aug 2026
Strike165.00
Volume1
OI72
IV0.39
ContractJKHY260918C00165000
SideCall
Expiry18 Sep 2026
Strike165.00
Volume1
OI57
IV0.32
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.