Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
SFBS options intelligence
ServisFirst Bancshares Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
30
Market data through 11 Aug 2026
Checked 12 Aug 2026 13:41 · complete available chain
Options-market disagreement
Mixed pressure
SFBS currently carries mixed options pressure with a 30/100 conviction score. The nearest-chain expected move is 4.5%, with volume/open-interest participation at 0.02.
Expected move
4.5%
Near-term move context
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
1.00
Balanced tape
Trend fit
79
Options agree with trend context
Weekly backdrop
-0.6%
RS 0.6
Expected move
4.5%
Put-call volume
1.00
Volume / OI
0.02
Reference IV
0.26
Max pain
85.00
Underlying
88.92
Nearest expiry
21 Aug 2026
Contracts
134
Research Brief
SFBS has a mixed chain read with 30/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 84.92–92.92; The largest call open-interest concentration is 95.00; the largest put concentration is 85.00. The most active strike by current volume is 45.00.
Priced range84.92–92.92
Call concentration95.00
Put concentration85.00
Max pain reference85.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 84.92 to 92.92. Max pain at 85.00 sits inside that range, 4.4% below spot.
Spot
Max pain
84.9288.92 ± 4.0092.92
Confirmation level
A close beyond 92.92 or below 84.92 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 30/100
Pressure is 11/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure11 × 42%
+4.8
How strongly activity leans toward calls or puts.
Participation6 × 22%
+1.3
Volume relative to existing open interest and contract-level activity.
Trend agreement79 × 26%
+20.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility36 × 10%
+3.6
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 95.00; the largest put concentration is 85.00. The most active strike by current volume is 45.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
45.00-49.4%
0
0
50.00-43.8%
0
0
55.00-38.1%
0
0
60.00-32.5%
0
0
65.00-26.9%
0
0
70.00-21.3%
0
0
75.00-15.7%
0
0
80.00-10.0%
0
1
85.00-4.4%
0
0
90.001.2%
8
0
95.006.8%
100
0
100.0012.5%
0
0
105.0018.1%
0
0
110.0023.7%
0
0
115.0029.3%
0
0
120.0035.0%
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+$46,731Delta change / 1% move
Positive peak90.00+$24,186
Negative peak55.00-$3
Nearest balance55.20Interpolated sign change
StrikeNegativePositiveNet / 1% move
45.00-49.4%
-$2
50.00-43.8%
+$4
55.00-38.1%
-$3
75.00-15.7%
+$311
80.00-10.0%
+$2,817
85.00-4.4%
+$4,926
90.001.2%
+$24,186
95.006.8%
+$14,438
100.0012.5%
+$54
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
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.26
21 Aug
10d
0.26
18 Sep
38d
0.30
18 Dec
129d
0.30
19 Mar
220d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
75
80
85
90
95
100
105
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
- 134 / 134
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Put-heavy activity matters because it connects the options headline to the actual evidence: $3,210 of estimated gross traded notional, puts · 91+ days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+11
1W price-0.6%
Call premium36%
Put premium64%
Notional split
C 36% / P 64%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
79/100
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 · 91+ days · ITM
puts cluster with 2 contracts traded, $2,050 estimated gross traded notional, and 64% of visible notional.
$2,050
Calls · 91+ days · OTM
calls cluster with 2 contracts traded, $1,160 estimated gross traded notional, and 36% of visible notional.
$1,160
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 10 completed sessions
Volume rank70th
Volume/OI rank60th
IV rank40th
Market Context
Underlying confirmation
Close88.92
1W-0.6%
RS0.6
Fair value+22.7%
Options pressure11
Speculation6
Volatility36
Trend fit79
Today Versus Normal
Stored-options context
30d avg 6.3% · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.32 · 10 sessions
40th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg 0.10 · 10 sessions
60th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:43
Bullish
Pressure 100
Move 5.9%
30 Jul 10:39
Mixed
Pressure 11
Move 5.7%
31 Jul 10:25
Mixed
Pressure 11
Move 5.8%
3 Aug 11:12
Bullish
Pressure 100
Move 5.8%
4 Aug 13:30
Mixed
Pressure 11
Move 5.6%
4 Aug 17:58
Volatility
Pressure 100
Move 13.1%
6 Aug 10:21
Mixed
Pressure 11
Move 5.6%
7 Aug 11:46
Mixed
Pressure 11
Move 5.7%
Strike Map
Where activity is clustering
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts32
Avg IV0.26
Put-call-
Expiry18 Sep 2026
Contracts32
Avg IV0.26
Put-call-
Expiry18 Dec 2026
Contracts34
Avg IV0.30
Put-call-
Expiry19 Mar 2027
Contracts36
Avg IV0.30
Put-call1.00
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.02
Put IV0.14
Skew0.12
18 Sep 2026Put IV premium
Call IV0.08
Put IV0.56
Skew0.48
18 Dec 2026Balanced skew
Call IV0.33
Put IV0.34
Skew0.01
19 Mar 2027Balanced skew
Call IV0.29
Put IV0.34
Skew0.05
Contract Tape
Most active contracts
ContractSFBS270319C00095000
SideCall
Expiry19 Mar 2027
Strike95.00
Volume2
OI3
IV0.27
ContractSFBS270319P00095000
SidePut
Expiry19 Mar 2027
Strike95.00
Volume2
OI-
IV0.30
ContractSFBS260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume-
OI100
IV0.16
ContractSFBS261218C00095000
SideCall
Expiry18 Dec 2026
Strike95.00
Volume-
OI18
IV0.27
ContractSFBS261218C00080000
SideCall
Expiry18 Dec 2026
Strike80.00
Volume-
OI17
IV0.31
ContractSFBS260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume-
OI15
IV0.25
ContractSFBS261218C00090000
SideCall
Expiry18 Dec 2026
Strike90.00
Volume-
OI13
IV0.29
ContractSFBS260918C00085000
SideCall
Expiry18 Sep 2026
Strike85.00
Volume-
OI12
IV0.26
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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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.