Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SMX options intelligence
SMX (Security Matters) Public Limited Company Class A Ordinary Shares options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 20 Aug 2026
Checked 21 Aug 2026 13:05 · complete available chain
Volatility expansion watch
Volatility pressure
SMX currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 105.3%, with volume/open-interest participation at 0.36.
Expected move
105.3%
Wider near-term move priced
Activity / OI
0.36
Current volume is quieter versus prior open interest
Put-call
0.20
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-12.1%
RS -99.8
Expected move
105.3%
Put-call volume
0.20
Volume / OI
0.36
Reference IV
17.02
Max pain
20.00
Underlying
16.26
Nearest expiry
21 Aug 2026
Contracts
22
Research Brief
SMX has a volatility chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 0.00–33.39; No strike-level positioning is available.
Priced range0.00–33.39
Call concentration-
Put concentration-
Max pain reference20.00
- A clear directional pressure reading develops and price begins to agree.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- 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
Options imply 0.00 to 33.39. Max pain at 20.00 sits inside that range, 23.0% above spot. The theoretical downside extends below zero, so the displayed lower bound is floored at 0.00.
Spot
Max pain
0.0016.26 ± 17.1333.39
Confirmation level
A close beyond 33.39 or below 0.00 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 47/100
Pressure is 64/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure64 × 42%
+27.0
How strongly activity leans toward calls or puts.
Participation48 × 22%
+10.7
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
No strike-level positioning is available.
No strike-level positioning is available.
Gamma Profile by Strike
Gamma profile unavailable
The retained chain has no contracts with both open interest and usable gamma or implied volatility.
Gamma exposure will appear when the retained chain has usable open interest plus reported gamma or implied volatility.
Volatility Curve
Insufficient term structure
At least two expirations with usable near-the-money implied volatility are required.
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
Comparable strike volatility is unavailable.
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
12 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing100%
Average expiry move4.4%
20 Aug
Volatility · 47
2.9% through expiry
105.3% priced · v2.0
14 Aug
Volatility · 47
2.9% through expiry
105.3% priced · v2.0
13 Aug
Volatility · 47
4.6% through expiry
96.3% priced · v2.0
11 Aug
Volatility · 47
4.6% through expiry
96.3% priced · v2.0
10 Aug
Volatility · 47
4.6% through expiry
96.3% priced · v2.0
7 Aug
Volatility · 47
4.6% through expiry
96.3% priced · v2.0
6 Aug
Volatility · 47
5.0% through expiry
96.7% priced · v2.0
5 Aug
Volatility · 47
5.0% through expiry
96.7% priced · v2.0
4 Aug
Volatility · 47
5.0% through expiry
96.7% priced · v2.0
3 Aug
Volatility · 47
5.0% through expiry
96.7% priced · v2.0
31 Jul
Volatility · 47
5.0% through expiry
96.7% priced · v2.0
30 Jul
Volatility · 47
-3.4% through expiry
98.8% priced · v2.0
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
Limited
Retained chain100%
Implied volatility0%
Two-sided quotes0%
Open interest0%
- Chain status
- Complete available chain
- Market date
- 20 Aug 2026
- Calculation
- v2.0
- Contracts
- 22 / 22
- Implied volatility is available for 0% of retained contracts.
- Two-sided bid/ask quotes are available for 0% of retained contracts.
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
Likely noise
Visible options activity is too thin or mixed to support a strong intent classification.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Likely noise matters because it connects the options headline to the actual evidence: $0 of estimated gross traded notional, no dominant cluster, 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+64
1W price-12.1%
Call premium0%
Put premium0%
Notional split
C 0% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.36
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
No high-conviction option cluster is visible in this snapshot.
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Baseline: 13 completed sessions
Volume rank100th
Volume/OI rank100th
IV rank100th
Market Context
Underlying confirmation
Close17.12
1W-12.1%
RS-99.8
Fair value-100.0%
Options pressure64
Speculation48
Volatility96
Trend fit0
Today Versus Normal
Stored-options context
30d avg 97.7% · 13 sessions
100th
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
30d avg 6.34 · 13 sessions
100th
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
30d avg 0.20 · 13 sessions
100th
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
30d avg 0.36 · 13 sessions
100th
90d avg - · 13/30 sessions
-
180d avg - · 13/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:51
Volatility
Pressure 64
Move 98.8%
30 Jul 07:52
Volatility
Pressure 64
Move 98.8%
30 Jul 15:31
Volatility
Pressure 64
Move 98.8%
30 Jul 15:46
Volatility
Pressure 64
Move 98.8%
30 Jul 22:07
Volatility
Pressure 64
Move 98.8%
31 Jul 12:42
Volatility
Pressure 64
Move 98.8%
31 Jul 19:47
Volatility
Pressure 64
Move 98.8%
2 Aug 11:31
Volatility
Pressure 64
Move 96.7%
Strike Map
Where activity is clustering
No strike map available for this snapshot.
Term Structure
Expiration activity
No expiration activity available.
Skew
Call/put IV balance
Skew context is warming up for this ticker.
Contract Tape
Most active contracts
No active contracts available.
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.