Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
IMAX options intelligence
Imax Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 31 Jul 2026
Checked 1 Aug 2026 18:17 · complete available chain
Call-side pressure
Bullish pressure
IMAX currently carries bullish options pressure with a 51/100 conviction score. The nearest-chain expected move is 7.0%, with volume/open-interest participation at 0.01.
Expected move
7.0%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.14
Call-side skew
Trend fit
32
Options are not fully confirming trend
Weekly backdrop
+10.3%
RS 22.1
Expected move
7.0%
Put-call volume
0.14
Volume / OI
0.01
Reference IV
0.39
Max pain
43.00
Underlying
47.84
Nearest expiry
21 Aug 2026
Contracts
218
Research Brief
IMAX has a bullish chain read with 51/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 44.51–51.17; The largest call open-interest concentration is 45.00; the largest put concentration is 39.00. The most active strike by current volume is 37.00.
Priced range44.51–51.17
Call concentration45.00
Put concentration39.00
Max pain reference43.00
- Price holds or improves while call-side concentration remains elevated.
- 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
Options imply 44.51 to 51.17. Max pain at 43.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
44.5147.84 ± 3.3351.17
Confirmation level
A close beyond 51.17 or below 44.51 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 51/100
Pressure is 69/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure69 × 42%
+29.0
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.8
Volume relative to existing open interest and contract-level activity.
Trend agreement32 × 26%
+8.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility55 × 10%
+5.5
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 45.00; the largest put concentration is 39.00. The most active strike by current volume is 37.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
509
33.00-31.0%
1
307
34.00-28.9%
4
2387
35.00-26.8%
107
360
36.00-24.7%
20
845
37.00-22.7%
559
186
38.00-20.6%
354
6610
39.00-18.5%
574
2200
40.00-16.4%
1308
98
41.00-14.3%
663
186
42.00-12.2%
471
6579
43.00-10.1%
314
188
44.00-8.0%
1363
51
45.00-5.9%
1488
14
46.00-3.8%
521
0
49.002.4%
426
27
50.004.5%
116
0
55.0015.0%
1300
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.39
21 Aug
21d
0.43
18 Sep
49d
0.44
18 Dec
140d
0.43
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
39
40
41
42
43
44
45
46
47
48
49
50
55
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
- 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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 218 / 218
- 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
Call activity against legacy put OI
Call activity is dominant while put open interest remains large but current put volume is not leading.
Options pressure and weekly price action are pointing in the same constructive direction.
Call activity against legacy put OI matters because it connects the options headline to the actual evidence: $104169 of estimated gross traded notional, calls · 91+ days · itm, 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+69
1W price+10.3%
Call premium97%
Put premium3%
Notional split
C 97% / P 3%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
32/100
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.
Do not infer a hedge unwind without next-session open-interest changes and opening/closing data.
Calls · 91+ days · ITM
calls cluster with 38 contracts traded, $38040 estimated gross traded notional, and 37% of visible notional.
$38040
Calls · 8-21 days · ITM
calls cluster with 35 contracts traded, $22600 estimated gross traded notional, and 22% of visible notional.
$22600
Calls · 46-90 days · ITM
calls cluster with 30 contracts traded, $18010 estimated gross traded notional, and 17% of visible notional.
$18010
Calls · 91+ days · OTM
calls cluster with 19 contracts traded, $8255 estimated gross traded notional, and 8% of visible notional.
$8255
Calls · 46-90 days · OTM
calls cluster with 86 contracts traded, $7430 estimated gross traded notional, and 7% of visible notional.
$7430
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.
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
Close47.84
1W+10.3%
RS22.1
Fair value+85.3%
Options pressure69
Speculation40
Volatility55
Trend fit32
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:59
Bullish
Pressure 60
Move 12.7%
30 Jul 06:10
Volatility
Pressure 74
Move 15.4%
31 Jul 11:50
Bullish
Pressure 30
Move 13.8%
31 Jul 15:29
Bearish
Pressure -21
Move 14.1%
31 Jul 16:11
Bearish
Pressure -19
Move 14.1%
1 Aug 17:17
Bullish
Pressure 69
Move 7.0%
Strike Map
Where activity is clustering
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 1
Puts · V 0 · OI 65
Strike30.00
Calls · V 0 · OI 3
Puts · V 0 · OI 1
Strike31.00
Calls · V 0 · OI 1
Puts · V 0 · OI 7
Strike32.00
Calls · V 0 · OI 1
Puts · V 0 · OI 89
Strike33.00
Calls · V 0 · OI 1
Puts · V 0 · OI 509
Strike34.00
Calls · V 0 · OI 4
Puts · V 0 · OI 307
Strike35.00
Calls · V 0 · OI 107
Puts · V 0 · OI 2387
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts52
Avg IV0.39
Put-call0.34
Expiry18 Sep 2026
Contracts60
Avg IV0.43
Put-call0.07
Expiry18 Dec 2026
Contracts58
Avg IV0.44
Put-call0.11
Expiry19 Mar 2027
Contracts48
Avg IV0.43
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.39
Put IV0.41
Skew0.02
18 Sep 2026Balanced skew
Call IV0.41
Put IV0.43
Skew0.02
18 Dec 2026Put IV premium
Call IV0.40
Put IV0.46
Skew0.07
19 Mar 2027Put IV premium
Call IV0.38
Put IV0.45
Skew0.08
Contract Tape
Most active contracts
ContractIMAX260918C00055000
SideCall
Expiry18 Sep 2026
Strike55.00
Volume80
OI12
IV0.41
ContractIMAX260918C00046000
SideCall
Expiry18 Sep 2026
Strike46.00
Volume21
OI91
IV0.51
ContractIMAX261218C00040000
SideCall
Expiry18 Dec 2026
Strike40.00
Volume20
OI150
IV0.48
ContractIMAX260821C00044000
SideCall
Expiry21 Aug 2026
Strike44.00
Volume13
OI1363
IV0.44
ContractIMAX260821C00048000
SideCall
Expiry21 Aug 2026
Strike48.00
Volume13
OI53
IV0.39
ContractIMAX260821C00040000
SideCall
Expiry21 Aug 2026
Strike40.00
Volume11
OI1308
IV0.55
ContractIMAX260821P00037000
SidePut
Expiry21 Aug 2026
Strike37.00
Volume10
OI845
IV0.74
ContractIMAX261218C00041000
SideCall
Expiry18 Dec 2026
Strike41.00
Volume10
OI36
IV0.43
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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.