Ticker Options Intelligence

PLRX options intelligence

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

Conviction 60 Market data through 17 Sep 2026 Checked 18 Sep 2026 13:40 · complete available chain

Volatility expansion watch

Volatility pressure

PLRX currently carries volatility options pressure with a 60/100 conviction score. The nearest-chain expected move is 50.9%, with volume/open-interest participation at 0.00.

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

Volatility expansion watch

Expected move 50.9%

Wider near-term move priced

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call -

Balanced tape

Trend fit 31

Options are not fully confirming trend

Weekly backdrop +0.9%

RS -18.3

Expected move 50.9%
Put-call volume -
Volume / OI 0.00
Reference IV 9.72
Max pain 2.50
Underlying 1.17
Nearest expiry 18 Sep 2026
Contracts 38

Research Brief

PLRX has a volatility chain read with 60/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 0.5745–1.77; The largest call open-interest concentration is 2.50; the largest put concentration is 2.50. The most active strike by current volume is 2.50.

Priced range0.5745–1.77
Call concentration2.50
Put concentration2.50
Max pain reference2.50
What would confirm it
  • 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.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Options and the weekly trend are not yet giving the same message.
  • 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

Size, not direction · through 18 Sep

Options imply 0.5745 to 1.77. Max pain at 2.50 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
0.571.17 ± 0.601.77
Confirmation level

A close beyond 1.77 or below 0.5745 at the 18 Sep 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 60/100

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.

Participation0 × 22%
+0.0

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

Trend agreement31 × 26%
+8.0

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

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score59.6Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 2.50; the largest put concentration is 2.50. 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
0
2.50113.7%
0
0
5.00327.4%
0
0
7.50541.0%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Negative gamma proxy

Reported + model-estimated Greeks · 100% coverage

Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile-$4,599Delta change / 1% move
Positive peak2.50+$301
Negative peak1.00-$4,912
Nearest balance1.50Interpolated sign change
StrikeNegativePositiveNet / 1% move
0.50-57.3%
-$7
1.00-14.5%
-$4,912
1.5028.2%
+$14
2.0070.9%
+$2
2.50113.7%
+$301
5.00327.4%
+$1
7.50541.0%
+$1
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

7.88× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

9.72 18 Sep 1d
1.44 16 Oct 29d
2.06 20 Nov 64d
1.47 15 Jan 120d
1.23 16 Apr 211d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

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

11 matured · 0 directional

11 stored transitions are available, but none had a directional bullish or bearish label.

Directional follow-through-
Moves contained by pricing100%
Average expiry move9.9%
19 Aug Volatility · 47 7.9% through expiry 40.9% priced · v2.0
18 Aug Mixed · 33 7.9% through expiry 62.9% priced · v2.0
14 Aug Volatility · 47 7.9% through expiry 67.4% priced · v2.0
13 Aug Mixed · 34 10.0% through expiry 34.3% priced · v2.0
11 Aug Volatility · 47 10.0% through expiry 50.8% priced · v2.0
10 Aug Mixed · 34 10.0% through expiry 35.2% priced · v2.0
7 Aug Mixed · 34 11.1% through expiry 88.5% priced · v2.0
6 Aug Mixed · 34 11.1% through expiry 54.8% priced · v2.0
4 Aug Mixed · 34 11.1% through expiry 66.4% priced · v2.0
3 Aug Mixed · 34 11.1% through expiry 89.2% priced · v2.0
31 Jul Mixed · 34 11.1% through expiry 73.0% 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

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
17 Sep 2026
Calculation
v2.0
Contracts
38 / 38
  • 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

Volatility expansion bet

92/100
Primary intent Volatility expansion bet

The strongest message is movement risk: expected move and implied volatility are carrying more signal than 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

Volatility expansion bet matters because it connects the options headline to the actual evidence: $10 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+0.9%
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 0.00 Volume divided by open interest across the visible chain.
Trend fit 31/100 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.
Conviction clusters Puts · 22-45 days · OTM
Puts · 22-45 days · OTM puts cluster with 1 contracts traded, $10 estimated gross traded notional, and 100% of visible notional.
$10

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.

Activity Anomaly

Above normal

78

Activity is running above the recent historical baseline.

Baseline: 24 completed sessions

Volume rank71th
Volume/OI rank62th
IV rank100th

Market Context

Underlying confirmation

Sharemaestro weekly
Close1.17
1W+0.9%
RS-18.3
Fair value-83.9%
Options pressure-100
Speculation0
Volatility96
Trend fit31

Today Versus Normal

Stored-options context

View history
Expected move 50.9% near normal
30d avg 59.0% · 11 sessions 36th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -
IV 9.72 elevated
30d avg 4.04 · 11 sessions 100th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -
Put-call - history building
30d avg - · 4/10 sessions -
90d avg - · 8/30 sessions -
180d avg - · 8/60 sessions -
Volume/OI 0.00 near normal
30d avg 0.01 · 11 sessions 55th
90d avg - · 24/30 sessions -
180d avg - · 24/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:47 Mixed
Pressure -12
Move 60.7%
30 Jul 11:24 Mixed
Pressure -12
Move 70.8%
30 Jul 15:08 Bearish
Pressure -21
Move 33.0%
30 Jul 15:46 Bearish
Pressure -21
Move 33.0%
31 Jul 16:44 Bearish
Pressure -21
Move 32.1%
31 Jul 18:08 Bearish
Pressure -21
Move 32.1%
31 Jul 23:18 Bearish
Pressure -21
Move 33.0%
2 Aug 17:54 Mixed
Pressure -12
Move 73.0%

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

Term Structure

Expiration activity

Volume and IV
Expiry18 Sep 2026
Contracts6
Avg IV9.72
Put-call-
Expiry16 Oct 2026
Contracts14
Avg IV1.44
Put-call-
Expiry20 Nov 2026
Contracts6
Avg IV2.06
Put-call-
Expiry15 Jan 2027
Contracts6
Avg IV1.47
Put-call-
Expiry16 Apr 2027
Contracts6
Avg IV1.23
Put-call-

Skew

Call/put IV balance

OTM demand
18 Sep 2026Incomplete skew
Call IV8.37
Put IV-
Skew-
16 Oct 2026Call IV premium
Call IV0.72
Put IV0.42
Skew-0.29
20 Nov 2026Incomplete skew
Call IV1.04
Put IV-
Skew-
15 Jan 2027Incomplete skew
Call IV0.76
Put IV-
Skew-
16 Apr 2027Incomplete skew
Call IV0.56
Put IV-
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractPLRX261016P00001000
SidePut
Expiry16 Oct 2026
Strike1.00
Volume1
OI2240
IV0.42
ContractPLRX270416C00002500
SideCall
Expiry16 Apr 2027
Strike2.50
Volume-
OI600
IV0.56
ContractPLRX270115C00002500
SideCall
Expiry15 Jan 2027
Strike2.50
Volume-
OI318
IV0.76
ContractPLRX261016C00001000
SideCall
Expiry16 Oct 2026
Strike1.00
Volume-
OI204
IV0.01
ContractPLRX261016P00000500
SidePut
Expiry16 Oct 2026
Strike0.50
Volume-
OI50
IV1.87
ContractPLRX261016C00002500
SideCall
Expiry16 Oct 2026
Strike2.50
Volume-
OI36
IV1.55
ContractPLRX261016C00001500
SideCall
Expiry16 Oct 2026
Strike1.50
Volume-
OI13
IV0.72
ContractPLRX261016C00005000
SideCall
Expiry16 Oct 2026
Strike5.00
Volume-
OI10
IV2.49

Evidence context