Ticker Options Intelligence

XNCR options intelligence

Xencor Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 52 Market data through 31 Jul 2026 Checked 2 Aug 2026 19:20 · complete available chain

Call-side pressure

Bullish pressure

XNCR currently carries bullish options pressure with a 52/100 conviction score. The nearest-chain expected move is 8.8%, with volume/open-interest participation at 0.08.

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

Call-side pressure

Expected move 8.8%

Wider near-term move priced

Activity / OI 0.08

Current volume is quieter versus prior open interest

Put-call 0.00

Call-side skew

Trend fit 10

Options are not fully confirming trend

Weekly backdrop +4.0%

RS 42.8

Expected move 8.8%
Put-call volume -
Volume / OI 0.08
Reference IV 0.37
Max pain 17.50
Underlying 20.21
Nearest expiry 21 Aug 2026
Contracts 92

Research Brief

XNCR has a bullish chain read with 52/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 18.44–21.98; The largest call open-interest concentration is 17.50; the largest put concentration is 22.50. The most active strike by current volume is 22.50.

Priced range18.44–21.98
Call concentration17.50
Put concentration22.50
Max pain reference17.50
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 21 Aug

Options imply 18.44 to 21.98. Max pain at 17.50 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
18.4420.21 ± 1.7721.98
Confirmation level

A close beyond 21.98 or below 18.44 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 52/100

Evidence alignment, not probability

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

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation5 × 22%
+1.2

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

Trend agreement10 × 26%
+2.5

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

Volatility61 × 10%
+6.1

The intensity of implied volatility and the priced move.

Reconstructed score51.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 17.50; the largest put concentration is 22.50. The most active strike by current volume is 22.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
2.50-87.6%
0
0
5.00-75.3%
0
0
7.50-62.9%
0
0
10.00-50.5%
0
10
12.50-38.1%
0
0
15.00-25.8%
11
6
17.50-13.4%
398
9
20.00-1.0%
117
150
22.5011.3%
228
0
25.0023.7%
6
0
30.0048.4%
31
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Back-loaded volatility

0.56× front/back

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

0.37 21 Aug 21d
0.36 18 Sep 49d
0.71 20 Nov 112d
0.66 19 Feb 203d

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.

18
20
23
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 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

A97/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
92 / 92
  • 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

86/100
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 Bullish flow confirms price

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

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $6625 of estimated gross traded notional, calls · 8-21 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+100
1W price+4.0%
Call premium100%
Put premium0%
Notional split C 100% / P 0% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.08 Volume divided by open interest across the visible chain.
Trend fit 10/100 Agreement between options pressure and Sharemaestro market context.
Event window 5 Aug Matched earnings event is 3 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 Calls · 8-21 days · OTM
Calls · 8-21 days · OTM calls cluster with 100 contracts traded, $3500 estimated gross traded notional, and 53% of visible notional.
$3500
Calls · 8-21 days · ITM calls cluster with 10 contracts traded, $3125 estimated gross traded notional, and 47% of visible notional.
$3125

Setup Classification

Opportunity and risk frame

Context, not advice
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.

Warning Bullish pressure over fair value

Call pressure is building while the stock sits above Sharemaestro fair value.

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
Close20.21
1W+4.0%
RS42.8
Fair value+22.1%
Options pressure100
Speculation5
Volatility61
Trend fit10

Today Versus Normal

Stored-options context

View history
Expected move 8.8% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.37 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.00 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.08 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 11:15 Volatility
Pressure 60
Move 12.6%
30 Jul 11:01 Volatility
Pressure 100
Move 17.7%
31 Jul 10:42 Volatility
Pressure 95
Move 14.3%
2 Aug 18:20 Bullish
Pressure 100
Move 8.8%

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 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike12.50
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike15.00
Calls · V 0 · OI 11
Puts · V 0 · OI 0
Strike17.50
Calls · V 10 · OI 398
Puts · V 0 · OI 6
Strike20.00
Calls · V 0 · OI 117
Puts · V 0 · OI 9

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.37
Put-call-
Expiry18 Sep 2026
Contracts22
Avg IV0.36
Put-call-
Expiry20 Nov 2026
Contracts24
Avg IV0.71
Put-call-
Expiry19 Feb 2027
Contracts24
Avg IV0.66
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.22
Put IV0.04
Skew-0.18
18 Sep 2026Put IV premium
Call IV0.14
Put IV0.92
Skew0.78
20 Nov 2026Put IV premium
Call IV0.16
Put IV0.93
Skew0.77
19 Feb 2027Call IV premium
Call IV0.84
Put IV0.73
Skew-0.12

Contract Tape

Most active contracts

Full contract tape
ContractXNCR260821C00022500
SideCall
Expiry21 Aug 2026
Strike22.50
Volume100
OI228
IV0.22
ContractXNCR260821C00017500
SideCall
Expiry21 Aug 2026
Strike17.50
Volume10
OI398
IV0.73
ContractXNCR260821P00022500
SidePut
Expiry21 Aug 2026
Strike22.50
Volume-
OI150
IV0.56
ContractXNCR260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume-
OI117
IV0.01
ContractXNCR261120P00007500
SidePut
Expiry20 Nov 2026
Strike7.50
Volume-
OI90
IV1.23
ContractXNCR261120C00025000
SideCall
Expiry20 Nov 2026
Strike25.00
Volume-
OI64
IV0.16
ContractXNCR261120C00012500
SideCall
Expiry20 Nov 2026
Strike12.50
Volume-
OI53
IV0.77
ContractXNCR270219C00025000
SideCall
Expiry19 Feb 2027
Strike25.00
Volume-
OI48
IV0.64