Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
BANX options intelligence
Arrowmark Financial Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 11 Aug 2026
Checked 12 Aug 2026 13:20 · complete available chain
Put-side pressure
Bearish pressure
BANX currently carries bearish options pressure with a 40/100 conviction score. The nearest-chain expected move is 6.3%, with volume/open-interest participation at 0.00.
Expected move
6.3%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
2.00
Put-side skew
Trend fit
91
Options agree with trend context
Weekly backdrop
+0.6%
RS -9.1
Expected move
6.3%
Put-call volume
2.00
Volume / OI
0.00
Reference IV
0.38
Max pain
20.00
Underlying
20.52
Nearest expiry
21 Aug 2026
Contracts
82
Research Brief
BANX has a bearish chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.22–21.82; The largest call open-interest concentration is 20.00; the largest put concentration is 17.50. The most active strike by current volume is 2.50.
Priced range19.22–21.82
Call concentration20.00
Put concentration17.50
Max pain reference20.00
- 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.
- 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 19.22 to 21.82. Max pain at 20.00 sits inside that range, 2.5% below spot.
Spot
Max pain
19.2220.52 ± 1.3021.82
Confirmation level
A close beyond 21.82 or below 19.22 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 40/100
Pressure is 22/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure22 × 42%
+9.3
How strongly activity leans toward calls or puts.
Participation8 × 22%
+1.8
Volume relative to existing open interest and contract-level activity.
Trend agreement91 × 26%
+23.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility52 × 10%
+5.2
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 20.00; the largest put concentration is 17.50. The most active strike by current volume is 2.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
2
2.50-87.8%
0
0
5.00-75.6%
0
0
7.50-63.5%
0
0
10.00-51.3%
0
0
12.50-39.1%
0
0
15.00-26.9%
0
76
17.50-14.7%
0
35
20.00-2.5%
296
0
22.509.6%
1
0
25.0021.8%
0
0
30.0046.2%
0
0
35.0070.6%
0
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+$167,745Delta change / 1% move
Positive peak20.00+$164,023
Negative peak17.50-$770
Nearest balance17.51Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.50-87.8%
-$0
15.00-26.9%
-$4
17.50-14.7%
-$770
20.00-2.5%
+$164,023
22.509.6%
+$4,496
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
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.38
21 Aug
10d
0.30
18 Sep
38d
0.27
16 Oct
66d
0.20
15 Jan
157d
Volatility by Strike
Downside protection premium
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
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 82 / 82
- 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: $39 of estimated gross traded notional, calls · 91+ days · otm, 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-22
1W price+0.6%
Call premium90%
Put premium10%
Notional split
C 90% / P 10%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
91/100
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.
Calls · 91+ days · OTM
calls cluster with 1 contracts traded, $35 estimated gross traded notional, and 90% of visible notional.
$35
Puts · 8-21 days · OTM
puts cluster with 2 contracts traded, $4 estimated gross traded notional, and 10% of visible notional.
$4
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
9 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 9 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close20.52
1W+0.6%
RS-9.1
Fair value+19.5%
Options pressure-22
Speculation8
Volatility52
Trend fit91
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:41
Bullish
Pressure 100
Move 5.4%
30 Jul 11:19
Bullish
Pressure 100
Move 6.2%
31 Jul 13:31
Mixed
Pressure 11
Move 5.6%
31 Jul 15:39
Volatility
Pressure 100
Move 7.0%
2 Aug 01:47
Mixed
Pressure -9
Move 6.0%
4 Aug 10:15
Mixed
Pressure 11
Move 7.1%
5 Aug 10:51
Mixed
Pressure 11
Move 7.6%
6 Aug 11:00
Mixed
Pressure 11
Move 6.8%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 0 · OI 0
Puts · V 2 · OI 2
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 0
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.50
Calls · V 0 · OI 0
Puts · V 0 · OI 76
Strike20.00
Calls · V 0 · OI 296
Puts · V 0 · OI 35
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts24
Avg IV0.38
Put-call-
Expiry18 Sep 2026
Contracts16
Avg IV0.30
Put-call-
Expiry16 Oct 2026
Contracts18
Avg IV0.27
Put-call-
Expiry15 Jan 2027
Contracts24
Avg IV0.20
Put-call-
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.30
Put IV0.09
Skew-0.20
18 Sep 2026Put IV premium
Call IV0.15
Put IV0.27
Skew0.12
16 Oct 2026Put IV premium
Call IV0.11
Put IV0.27
Skew0.16
15 Jan 2027Put IV premium
Call IV0.18
Put IV0.28
Skew0.10
Contract Tape
Most active contracts
ContractBANX260821P00002500
SidePut
Expiry21 Aug 2026
Strike2.50
Volume2
OI2
IV5.01
ContractBANX270115C00022500
SideCall
Expiry15 Jan 2027
Strike22.50
Volume1
OI72
IV0.18
ContractBANX261016C00020000
SideCall
Expiry16 Oct 2026
Strike20.00
Volume-
OI616
IV0.17
ContractBANX270115C00020000
SideCall
Expiry15 Jan 2027
Strike20.00
Volume-
OI610
IV0.14
ContractBANX270115C00017500
SideCall
Expiry15 Jan 2027
Strike17.50
Volume-
OI426
IV0.01
ContractBANX260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume-
OI296
IV0.20
ContractBANX260821P00017500
SidePut
Expiry21 Aug 2026
Strike17.50
Volume-
OI76
IV0.45
ContractBANX260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume-
OI35
IV0.09
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
No upcoming matched earnings event.
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.