Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
BCPC options intelligence
Balchem Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 3 Aug 2026
Checked 4 Aug 2026 11:11 · complete available chain
Put-side pressure
Bearish pressure
BCPC currently carries bearish options pressure with a 51/100 conviction score. The nearest-chain expected move is 4.8%, with volume/open-interest participation at 0.01.
Expected move
4.8%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
2.67
Put-side skew
Trend fit
99
Options agree with trend context
Weekly backdrop
+2.9%
RS -5.5
Expected move
4.8%
Put-call volume
2.67
Volume / OI
0.01
Reference IV
0.25
Max pain
165.00
Underlying
167.56
Nearest expiry
21 Aug 2026
Contracts
168
Research Brief
BCPC has a bearish chain read with 51/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 159.49–175.63; The largest call open-interest concentration is 185.00; the largest put concentration is 160.00. The most active strike by current volume is 165.00.
Priced range159.49–175.63
Call concentration185.00
Put concentration160.00
Max pain reference165.00
- 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 159.49 to 175.63. Max pain at 165.00 sits inside that range, 1.5% below spot.
Spot
Max pain
159.49167.56 ± 8.07175.63
Confirmation level
A close beyond 175.63 or below 159.49 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 51/100
Pressure is 36/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure36 × 42%
+14.9
How strongly activity leans toward calls or puts.
Participation28 × 22%
+6.2
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.
Volatility37 × 10%
+3.7
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 185.00; the largest put concentration is 160.00. The most active strike by current volume is 165.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
5
105.00-37.3%
0
0
110.00-34.4%
0
1
130.00-22.4%
0
5
135.00-19.4%
0
4
140.00-16.4%
0
4
145.00-13.5%
0
2
150.00-10.5%
0
2
155.00-7.5%
0
7
160.00-4.5%
3
2
165.00-1.5%
0
1
170.001.5%
2
1
175.004.4%
4
0
180.007.4%
37
0
185.0010.4%
405
1
190.0013.4%
160
0
195.0016.4%
4
0
210.0025.3%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$426,335Delta change / 1% move
Positive peak185.00+$279,708
Negative peak160.00-$6,772
Nearest balance164.97Interpolated sign change
StrikeNegativePositiveNet / 1% move
110.00-34.4%
-$42
115.00-31.4%
-$52
120.00-28.4%
-$35
125.00-25.4%
-$72
130.00-22.4%
-$85
135.00-19.4%
-$120
140.00-16.4%
-$220
145.00-13.5%
-$131
150.00-10.5%
+$397
155.00-7.5%
-$97
160.00-4.5%
-$6,772
165.00-1.5%
+$35
170.001.5%
+$2,828
175.004.4%
+$11,337
180.007.4%
+$47,692
185.0010.4%
+$279,708
190.0013.4%
+$69,249
195.0016.4%
+$22,372
200.0019.4%
+$318
210.0025.3%
+$23
220.0031.3%
+$13
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.25
21 Aug
18d
0.25
18 Sep
46d
0.25
20 Nov
109d
0.25
19 Feb
200d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
135
140
145
150
155
160
165
170
175
180
185
190
195
200
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. 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
- 3 Aug 2026
- Calculation
- v2.0
- Contracts
- 168 / 168
- 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: $2,005 of estimated gross traded notional, puts · 8-21 days · atm, 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-36
1W price+2.9%
Call premium33%
Put premium67%
Notional split
C 33% / P 67%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
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 · 8-21 days · ATM
puts cluster with 7 contracts traded, $945 estimated gross traded notional, and 47% of visible notional.
$945
Calls · 22-45 days · OTM
calls cluster with 3 contracts traded, $660 estimated gross traded notional, and 33% of visible notional.
$660
Puts · 22-45 days · ATM
puts cluster with 1 contracts traded, $400 estimated gross traded notional, and 20% of visible notional.
$400
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
4 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 4 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close167.56
1W+2.9%
RS-5.5
Fair value+7.3%
Options pressure-36
Speculation28
Volatility37
Trend fit99
Today Versus Normal
Stored-options context
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:39
Bearish
Pressure -90
Move 6.9%
30 Jul 10:35
Bearish
Pressure -90
Move 6.9%
30 Jul 15:22
Bullish
Pressure 89
Move 15.4%
30 Jul 15:41
Bullish
Pressure 89
Move 15.4%
30 Jul 19:42
Bullish
Pressure 93
Move 15.5%
31 Jul 13:51
Bullish
Pressure 92
Move 14.4%
31 Jul 15:29
Bullish
Pressure 93
Move 14.4%
31 Jul 16:57
Bullish
Pressure 93
Move 14.4%
Strike Map
Where activity is clustering
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike115.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike125.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike130.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike135.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike140.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts44
Avg IV0.25
Put-call-
Expiry18 Sep 2026
Contracts34
Avg IV0.25
Put-call0.33
Expiry20 Nov 2026
Contracts48
Avg IV0.25
Put-call-
Expiry19 Feb 2027
Contracts42
Avg IV0.25
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.24
Put IV0.51
Skew0.27
18 Sep 2026Balanced skew
Call IV0.23
Put IV0.24
Skew0.01
20 Nov 2026Balanced skew
Call IV0.23
Put IV0.26
Skew0.03
19 Feb 2027Balanced skew
Call IV0.22
Put IV0.26
Skew0.04
Contract Tape
Most active contracts
ContractBCPC260821P00165000
SidePut
Expiry21 Aug 2026
Strike165.00
Volume7
OI2
IV0.10
ContractBCPC260918C00185000
SideCall
Expiry18 Sep 2026
Strike185.00
Volume3
OI-
IV0.06
ContractBCPC260918P00170000
SidePut
Expiry18 Sep 2026
Strike170.00
Volume1
OI-
IV0.24
ContractBCPC260821C00185000
SideCall
Expiry21 Aug 2026
Strike185.00
Volume-
OI405
IV0.24
ContractBCPC260821C00190000
SideCall
Expiry21 Aug 2026
Strike190.00
Volume-
OI160
IV0.29
ContractBCPC261120C00180000
SideCall
Expiry20 Nov 2026
Strike180.00
Volume-
OI85
IV0.25
ContractBCPC261120C00185000
SideCall
Expiry20 Nov 2026
Strike185.00
Volume-
OI50
IV0.24
ContractBCPC261120C00175000
SideCall
Expiry20 Nov 2026
Strike175.00
Volume-
OI50
IV0.24
Research Graph
Related research and context
Sharemaestro research
Related News
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Earnings
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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.