Ticker Options Intelligence

PWP options intelligence

Perella Weinberg Partners options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 79 Market data through 29 Jul 2026 Checked 30 Jul 2026 11:53 · complete available chain

Volatility expansion watch

Volatility pressure

PWP currently carries volatility options pressure with a 79/100 conviction score. The nearest-chain expected move is 17.4%, with volume/open-interest participation at 2.41.

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

Volatility expansion watch

Expected move 17.4%

Wider near-term move priced

Activity / OI 2.41

Current volume is elevated versus prior open interest

Put-call -

Balanced tape

Trend fit 34

Options are not fully confirming trend

Weekly backdrop -1.4%

RS -24.8

Expected move 17.4%
Put-call volume -
Volume / OI 2.41
Reference IV 0.48
Max pain 15.00
Underlying 15.67
Nearest expiry 21 Aug 2026
Contracts 88

Research Brief

PWP has a volatility chain read with 79/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 12.94–18.40; The largest call open-interest concentration is 15.00; the largest put concentration is 7.50. The most active strike by current volume is 15.00.

Priced range12.94–18.40
Call concentration15.00
Put concentration7.50
Max pain reference15.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • 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 21 Aug

Options imply 12.94 to 18.40. Max pain at 15.00 sits inside that range, 4.3% below spot.

Spot Max pain
12.9415.67 ± 2.7318.40
Confirmation level

A close beyond 18.40 or below 12.94 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 79/100

Evidence alignment, not probability

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

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation96 × 22%
+21.1

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

Trend agreement34 × 26%
+8.8

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

Volatility73 × 10%
+7.3

The intensity of implied volatility and the priced move.

Reconstructed score79.2Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 15.00; the largest put concentration is 7.50. The most active strike by current volume is 15.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
2.50-84.0%
0
2
5.00-68.1%
0
8
7.50-52.1%
0
0
10.00-36.2%
0
8
12.50-20.2%
0
3
15.00-4.3%
1
0
17.5011.7%
0
0
20.0027.6%
0
0
22.5043.6%
0
0
25.0059.5%
0
0
30.0091.4%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Back-loaded volatility

0.82× front/back

Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.

0.48 21 Aug 22d
0.32 18 Sep 50d
0.45 16 Oct 78d
0.59 15 Jan 169d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

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

15
18
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

No independently verifiable option-expiry outcomes have matured yet. Legacy snapshots without a point-in-time market reference and repeated same-session snapshots are deliberately excluded.

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

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
29 Jul 2026
Calculation
v1.x legacy
Contracts
88 / 88
  • 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

83/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $12980 of estimated gross traded notional, puts · 22-45 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-100
1W price-1.4%
Call premium0%
Put premium100%
Notional split C 0% / P 100% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 2.41 Volume divided by open interest across the visible chain.
Trend fit 34/100 Agreement between options pressure and Sharemaestro market context.
Event window 31 Jul Matched earnings event is 0 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 · 22-45 days · OTM
Puts · 22-45 days · OTM puts cluster with 118 contracts traded, $12980 estimated gross traded notional, and 100% of visible notional.
$12980

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Speculative chase

Participation is active enough to treat follow-through risk carefully.

Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

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

-

1 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 1 completed session

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close15.67
1W-1.4%
RS-24.8
Fair value-9.1%
Options pressure-100
Speculation96
Volatility73
Trend fit34

Today Versus Normal

Stored-options context

View history
Expected move 17.4% history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -
IV 0.48 history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -
Put-call - history building
30d avg - · 0/10 sessions -
90d avg - · 0/30 sessions -
180d avg - · 0/60 sessions -
Volume/OI 2.41 history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:05 Mixed
Pressure -9
Move 15.1%
30 Jul 10:53 Volatility
Pressure -100
Move 17.4%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike12.50
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike15.00
Calls · V 0 · OI 1
Puts · V 118 · OI 3
Strike17.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.48
Put-call-
Expiry18 Sep 2026
Contracts22
Avg IV0.32
Put-call-
Expiry16 Oct 2026
Contracts20
Avg IV0.45
Put-call-
Expiry15 Jan 2027
Contracts24
Avg IV0.59
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV0.32
Put IV0.35
Skew0.03
18 Sep 2026Put IV premium
Call IV0.21
Put IV0.59
Skew0.38
16 Oct 2026Put IV premium
Call IV0.17
Put IV0.58
Skew0.41
15 Jan 2027Balanced skew
Call IV0.72
Put IV0.67
Skew-0.05

Contract Tape

Most active contracts

Full contract tape
ContractPWP260821P00015000
SidePut
Expiry21 Aug 2026
Strike15.00
Volume118
OI3
IV0.01
ContractPWP260821P00007500
SidePut
Expiry21 Aug 2026
Strike7.50
Volume-
OI8
IV1.17
ContractPWP261016C00020000
SideCall
Expiry16 Oct 2026
Strike20.00
Volume-
OI8
IV0.28
ContractPWP260821P00012500
SidePut
Expiry21 Aug 2026
Strike12.50
Volume-
OI8
IV0.35
ContractPWP261016C00022500
SideCall
Expiry16 Oct 2026
Strike22.50
Volume-
OI5
IV0.38
ContractPWP270115P00020000
SidePut
Expiry15 Jan 2027
Strike20.00
Volume-
OI3
IV0.53
ContractPWP270115C00015000
SideCall
Expiry15 Jan 2027
Strike15.00
Volume-
OI3
IV0.64
ContractPWP261016P00015000
SidePut
Expiry16 Oct 2026
Strike15.00
Volume-
OI3
IV0.58