Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
MICC options intelligence
The Magnum Ice Cream Company N.V. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
52
Market data through 12 Aug 2026
Checked 13 Aug 2026 11:40 · complete available chain
Call-side pressure
Bullish pressure
MICC currently carries bullish options pressure with a 52/100 conviction score. The nearest-chain expected move is 5.6%, with volume/open-interest participation at 0.01.
Expected move
5.6%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.00
Call-side skew
Trend fit
14
Options are not fully confirming trend
Weekly backdrop
+3.5%
Sharemaestro weekly context
Expected move
5.6%
Put-call volume
-
Volume / OI
0.01
Reference IV
0.41
Max pain
17.50
Underlying
19.27
Nearest expiry
21 Aug 2026
Contracts
92
Research Brief
MICC has a bullish chain read with 52/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 18.19–20.35; The largest call open-interest concentration is 20.00; the largest put concentration is 15.00. The most active strike by current volume is 20.00.
Priced range18.19–20.35
Call concentration20.00
Put concentration15.00
Max pain reference17.50
- 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.
- 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 18.19 to 20.35. Max pain at 17.50 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
18.1919.27 ± 1.0820.35
Confirmation level
A close beyond 20.35 or below 18.19 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 52/100
Pressure is 100/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure100 × 42%
+42.0
How strongly activity leans toward calls or puts.
Participation4 × 22%
+0.9
Volume relative to existing open interest and contract-level activity.
Trend agreement14 × 26%
+3.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility51 × 10%
+5.1
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 15.00. The most active strike by current volume is 20.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
2.50-87.0%
0
0
5.00-74.1%
7
0
7.50-61.1%
0
0
10.00-48.1%
0
0
12.50-35.1%
2
167
15.00-22.2%
42
152
17.50-9.2%
21
3
20.003.8%
2449
0
22.5016.8%
1
0
25.0029.7%
0
0
30.0055.7%
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+$642,961Delta change / 1% move
Positive peak20.00+$644,923
Negative peak17.50-$1,868
Nearest balance17.51Interpolated sign change
StrikeNegativePositiveNet / 1% move
10.00-48.1%
-$10
12.50-35.1%
-$136
15.00-22.2%
-$52
17.50-9.2%
-$1,868
20.003.8%
+$644,923
22.5016.8%
+$105
25.0029.7%
-$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
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.41
21 Aug
9d
0.31
18 Sep
37d
0.36
20 Nov
100d
0.32
19 Feb
191d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 92 / 92
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $2,105 of estimated gross traded notional, calls · 8-21 days · otm, 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+100
1W price+3.5%
Call premium100%
Put premium0%
Notional split
C 100% / P 0%
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
14/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 8-21 days · OTM
calls cluster with 42 contracts traded, $1,365 estimated gross traded notional, and 65% of visible notional.
$1,365
Calls · 91+ days · ITM
calls cluster with 1 contracts traded, $665 estimated gross traded notional, and 32% of visible notional.
$665
Calls · 91+ days · OTM
calls cluster with 1 contracts traded, $75 estimated gross traded notional, and 4% of visible notional.
$75
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 11 completed sessions
Volume rank73th
Volume/OI rank73th
IV rank18th
Market Context
Underlying confirmation
Close19.27
1W+3.5%
RS-
Fair value+17.4%
Options pressure100
Speculation4
Volatility51
Trend fit14
Today Versus Normal
Stored-options context
30d avg 9.9% · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.50 · 11 sessions
18th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 1.16 · 10 sessions
60th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.01 · 11 sessions
73th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:28
Volatility
Pressure 100
Move 9.8%
30 Jul 10:23
Bearish
Pressure -90
Move 12.8%
30 Jul 14:20
Volatility
Pressure 47
Move 9.8%
30 Jul 15:20
Volatility
Pressure 47
Move 10.5%
31 Jul 02:38
Bullish
Pressure 100
Move 10.9%
3 Aug 04:48
Bullish
Pressure 100
Move 10.8%
3 Aug 15:31
Volatility
Pressure 54
Move 10.8%
3 Aug 16:28
Volatility
Pressure 54
Move 10.8%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 7
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 2
Puts · V 0 · OI 0
Strike15.00
Calls · V 0 · OI 42
Puts · V 0 · OI 167
Strike17.50
Calls · V 0 · OI 21
Puts · V 0 · OI 152
Strike20.00
Calls · V 42 · OI 2449
Puts · V 0 · OI 3
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts22
Avg IV0.41
Put-call-
Expiry18 Sep 2026
Contracts24
Avg IV0.31
Put-call-
Expiry20 Nov 2026
Contracts22
Avg IV0.36
Put-call-
Expiry19 Feb 2027
Contracts24
Avg IV0.32
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.38
Put IV0.38
Skew-
18 Sep 2026Put IV premium
Call IV0.03
Put IV0.53
Skew0.50
20 Nov 2026Put IV premium
Call IV0.01
Put IV0.12
Skew0.11
19 Feb 2027Call IV premium
Call IV0.28
Put IV0.09
Skew-0.19
Contract Tape
Most active contracts
ContractMICC260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume42
OI2449
IV0.38
ContractMICC261120C00012500
SideCall
Expiry20 Nov 2026
Strike12.50
Volume1
OI115
IV0.01
ContractMICC270219C00022500
SideCall
Expiry19 Feb 2027
Strike22.50
Volume1
OI2
IV0.28
ContractMICC261120C00020000
SideCall
Expiry20 Nov 2026
Strike20.00
Volume-
OI509
IV0.01
ContractMICC260821P00015000
SidePut
Expiry21 Aug 2026
Strike15.00
Volume-
OI167
IV0.79
ContractMICC260821P00017500
SidePut
Expiry21 Aug 2026
Strike17.50
Volume-
OI152
IV0.38
ContractMICC261120P00012500
SidePut
Expiry20 Nov 2026
Strike12.50
Volume-
OI72
IV0.38
ContractMICC261120C00015000
SideCall
Expiry20 Nov 2026
Strike15.00
Volume-
OI62
IV0.39
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.