Ticker Options Intelligence

MDT options intelligence

Medtronic PLC options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 38 Market data through 31 Jul 2026 Checked 1 Aug 2026 22:18 · complete available chain

Call-side pressure

Bullish pressure

MDT currently carries bullish options pressure with a 38/100 conviction score. The nearest-chain expected move is 3.0%, with volume/open-interest participation at 0.04.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 3.0%

Near-term move context

Activity / OI 0.04

Current volume is quieter versus prior open interest

Put-call 0.27

Call-side skew

Trend fit 1

Options are not fully confirming trend

Weekly backdrop +2.6%

RS -13.0

Expected move 3.0%
Put-call volume 0.27
Volume / OI 0.04
Reference IV 0.26
Max pain 83.00
Underlying 85.39
Nearest expiry 7 Aug 2026
Contracts 972

Research Brief

MDT has a bullish chain read with 38/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 82.82–87.96; The largest call open-interest concentration is 88.00; the largest put concentration is 85.00. The most active strike by current volume is 86.00.

Priced range82.82–87.96
Call concentration88.00
Put concentration85.00
Max pain reference83.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • Options and the weekly trend are not yet giving the same message.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 7 Aug

Options imply 82.82 to 87.96. Max pain at 83.00 sits inside that range, 2.8% below spot.

Spot Max pain
82.8285.39 ± 2.5787.96
Confirmation level

A close beyond 87.96 or below 82.82 at the 7 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 38/100

Evidence alignment, not probability

Pressure is 62/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure62 × 42%
+25.9

How strongly activity leans toward calls or puts.

Participation41 × 22%
+9.0

Volume relative to existing open interest and contract-level activity.

Trend agreement1 × 26%
+0.3

How closely the chain read agrees with the underlying trend backdrop.

Volatility30 × 10%
+3.0

The intensity of implied volatility and the priced move.

Reconstructed score38.2Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 88.00; the largest put concentration is 85.00. The most active strike by current volume is 86.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
150
65.00-23.9%
0
106
67.00-21.5%
0
179
69.00-19.2%
0
130
70.00-18.0%
0
260
79.00-7.5%
116
73
80.00-6.3%
47
218
81.00-5.1%
347
53
82.00-4.0%
874
318
83.00-2.8%
72
92
84.00-1.6%
521
1092
85.00-0.5%
169
42
86.000.7%
490
31
87.001.9%
571
61
88.003.1%
1917
47
89.004.2%
598
13
90.005.4%
80
6
91.006.6%
192
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

0.89× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

0.26 7 Aug 7d
0.26 14 Aug 14d
0.26 21 Aug 21d
0.26 28 Aug 28d
0.32 4 Sep 35d
0.30 11 Sep 42d
0.30 18 Sep 49d
0.29 16 Oct 77d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

69
71
72
74
75
77
78
80
81
83
85
86
88
89
91
92
94
95
97
98
100
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

Forward validation is building. The earliest eligible stored read expires 31 Jul 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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
972 / 972
  • 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

Short-dated OTM call concentration

94/100
Primary intent Short-dated OTM call concentration

Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.

Flow vs price divergence Bullish flow confirms price

Options pressure and weekly price action are pointing in the same constructive direction.

Why this matters

Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $1.9M of estimated gross traded notional, puts · 91+ days · itm, 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+62
1W price+2.6%
Call premium68%
Put premium32%
Notional split C 68% / P 32% 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 1/100 Agreement between options pressure and Sharemaestro market context.
Event window 18 Aug Matched earnings event is 16 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 427 contracts traded, $381098 estimated gross traded notional, and 20% of visible notional.
$381098
Calls · 91+ days · OTM calls cluster with 916 contracts traded, $330865 estimated gross traded notional, and 17% of visible notional.
$330865
Calls · 46-90 days · OTM calls cluster with 1534 contracts traded, $255834 estimated gross traded notional, and 13% of visible notional.
$255834
Calls · 8-21 days · ATM calls cluster with 980 contracts traded, $159130 estimated gross traded notional, and 8% of visible notional.
$159130
Calls · 8-21 days · OTM calls cluster with 1454 contracts traded, $135248 estimated gross traded notional, and 7% of visible notional.
$135248

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

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

Sharemaestro weekly
Close85.39
1W+2.6%
RS-13.0
Fair value+2.8%
Options pressure62
Speculation41
Volatility30
Trend fit1

Today Versus Normal

Stored-options context

View history
Expected move 3.0% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.26 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.27 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.04 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:02 Bullish
Pressure 44
Move 5.0%
30 Jul 10:02 Bullish
Pressure 40
Move 5.6%
31 Jul 13:34 Mixed
Pressure 8
Move 3.8%
1 Aug 21:18 Bullish
Pressure 62
Move 3.0%

Strike Map

Where activity is clustering

Full strike map
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 150
Strike67.00
Calls · V 1 · OI 0
Puts · V 0 · OI 106
Strike68.00
Calls · V 0 · OI 0
Puts · V 0 · OI 65
Strike69.00
Calls · V 0 · OI 0
Puts · V 0 · OI 179
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 130
Strike71.00
Calls · V 0 · OI 0
Puts · V 0 · OI 17

Term Structure

Expiration activity

Volume and IV
Expiry7 Aug 2026
Contracts80
Avg IV0.26
Put-call0.40
Expiry14 Aug 2026
Contracts80
Avg IV0.26
Put-call0.12
Expiry21 Aug 2026
Contracts100
Avg IV0.26
Put-call0.09
Expiry28 Aug 2026
Contracts72
Avg IV0.26
Put-call0.02
Expiry4 Sep 2026
Contracts72
Avg IV0.32
Put-call0.13

Skew

Call/put IV balance

OTM demand
7 Aug 2026Balanced skew
Call IV0.26
Put IV0.29
Skew0.03
14 Aug 2026Call IV premium
Call IV0.49
Put IV0.26
Skew-0.23
21 Aug 2026Call IV premium
Call IV0.43
Put IV0.25
Skew-0.19
28 Aug 2026Balanced skew
Call IV0.30
Put IV0.26
Skew-0.04
4 Sep 2026Put IV premium
Call IV0.32
Put IV0.39
Skew0.07

Contract Tape

Most active contracts

Full contract tape
ContractMDT260828C00092000
SideCall
Expiry28 Aug 2026
Strike92.00
Volume886
OI177
IV0.27
ContractMDT260807C00086000
SideCall
Expiry7 Aug 2026
Strike86.00
Volume784
OI490
IV0.26
ContractMDT260821C00087500
SideCall
Expiry21 Aug 2026
Strike87.50
Volume770
OI5248
IV0.28
ContractMDT260918C00095000
SideCall
Expiry18 Sep 2026
Strike95.00
Volume710
OI1844
IV0.30
ContractMDT261016C00090000
SideCall
Expiry16 Oct 2026
Strike90.00
Volume627
OI1154
IV0.27
ContractMDT260821C00088000
SideCall
Expiry21 Aug 2026
Strike88.00
Volume585
OI127
IV0.27
ContractMDT260814C00088000
SideCall
Expiry14 Aug 2026
Strike88.00
Volume506
OI34
IV0.25
ContractMDT270115C00090000
SideCall
Expiry15 Jan 2027
Strike90.00
Volume431
OI2062
IV0.26