Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
IDCC options intelligence
InterDigital Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
46
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:22 · complete available chain
Volatility expansion watch
Volatility pressure
IDCC currently carries volatility options pressure with a 46/100 conviction score. The nearest-chain expected move is 18.8%, with volume/open-interest participation at 0.08.
Expected move
18.8%
Wider near-term move priced
Activity / OI
0.08
Current volume is quieter versus prior open interest
Put-call
1.70
Put-side skew
Trend fit
75
Options agree with trend context
Weekly backdrop
+18.0%
RS -12.8
Expected move
18.8%
Put-call volume
1.70
Volume / OI
0.08
Reference IV
0.53
Max pain
270.00
Underlying
258.30
Nearest expiry
21 Aug 2026
Contracts
412
Research Brief
IDCC has a volatility chain read with 46/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 209.73–306.87; The largest call open-interest concentration is 330.00; the largest put concentration is 200.00. The most active strike by current volume is 200.00.
Priced range209.73–306.87
Call concentration330.00
Put concentration200.00
Max pain reference270.00
- 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 209.73 to 306.87. Max pain at 270.00 sits inside that range, 4.5% above spot.
Spot
Max pain
209.73258.30 ± 48.57306.87
Confirmation level
A close beyond 306.87 or below 209.73 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 46/100
Pressure is 22/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure22 × 42%
+9.4
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement75 × 26%
+19.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility77 × 10%
+7.7
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 330.00; the largest put concentration is 200.00. The most active strike by current volume is 200.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
180.00-30.3%
0
1
185.00-28.4%
0
102
200.00-22.6%
0
102
210.00-18.7%
0
9
220.00-14.8%
0
79
230.00-11.0%
1
8
240.00-7.1%
0
68
250.00-3.2%
3
5
260.000.7%
4
11
270.004.5%
7
2
280.008.4%
15
1
290.0012.3%
20
1
300.0016.1%
74
0
310.0020.0%
10
0
320.0023.9%
17
0
330.0027.8%
212
0
340.0031.6%
201
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.
0.53
21 Aug
22d
0.50
18 Sep
50d
0.48
18 Dec
141d
0.48
15 Jan
169d
0.51
19 Mar
232d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
210
220
230
240
250
260
270
280
290
300
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 412 / 412
- 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
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $580402 of estimated gross traded notional, calls · 91+ days · itm, 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-22
1W price+18.0%
Call premium82%
Put premium18%
Notional split
C 82% / P 18%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.08
Volume divided by open interest across the visible chain.
Trend fit
75/100
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.
Calls · 91+ days · ITM
calls cluster with 11 contracts traded, $155525 estimated gross traded notional, and 27% of visible notional.
$155525
Calls · 8-21 days · OTM
calls cluster with 55 contracts traded, $90375 estimated gross traded notional, and 16% of visible notional.
$90375
Calls · 8-21 days · ITM
calls cluster with 7 contracts traded, $70545 estimated gross traded notional, and 12% of visible notional.
$70545
Calls · 46-90 days · OTM
calls cluster with 53 contracts traded, $66860 estimated gross traded notional, and 12% of visible notional.
$66860
Calls · 91+ days · OTM
calls cluster with 33 contracts traded, $62008 estimated gross traded notional, and 11% of visible notional.
$62008
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close304.83
1W+18.0%
RS-12.8
Fair value+51.0%
Options pressure-22
Speculation42
Volatility77
Trend fit75
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:35
Volatility
Pressure -37
Move 11.9%
30 Jul 10:32
Mixed
Pressure 13
Move 11.3%
31 Jul 10:22
Volatility
Pressure -22
Move 18.8%
Strike Map
Where activity is clustering
Strike175.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike180.00
Calls · V 2 · OI 0
Puts · V 1 · OI 0
Strike185.00
Calls · V 2 · OI 0
Puts · V 0 · OI 1
Strike190.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike195.00
Calls · V 1 · OI 0
Puts · V 0 · OI 0
Strike200.00
Calls · V 0 · OI 0
Puts · V 101 · OI 102
Strike210.00
Calls · V 0 · OI 0
Puts · V 100 · OI 102
Strike220.00
Calls · V 0 · OI 0
Puts · V 6 · OI 9
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts58
Avg IV0.53
Put-call3.52
Expiry18 Sep 2026
Contracts90
Avg IV0.50
Put-call0.19
Expiry18 Dec 2026
Contracts112
Avg IV0.48
Put-call0.12
Expiry15 Jan 2027
Contracts74
Avg IV0.48
Put-call2.50
Expiry19 Mar 2027
Contracts78
Avg IV0.51
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.46
Put IV0.62
Skew0.16
18 Sep 2026Balanced skew
Call IV0.45
Put IV0.48
Skew0.03
18 Dec 2026Balanced skew
Call IV0.46
Put IV0.47
Skew0.01
15 Jan 2027Balanced skew
Call IV0.45
Put IV0.47
Skew0.02
19 Mar 2027Balanced skew
Call IV0.49
Put IV0.51
Skew0.02
Contract Tape
Most active contracts
ContractIDCC260821P00200000
SidePut
Expiry21 Aug 2026
Strike200.00
Volume101
OI102
IV0.55
ContractIDCC260821P00210000
SidePut
Expiry21 Aug 2026
Strike210.00
Volume100
OI102
IV0.49
ContractIDCC260918C00330000
SideCall
Expiry18 Sep 2026
Strike330.00
Volume31
OI87
IV0.45
ContractIDCC261218C00360000
SideCall
Expiry18 Dec 2026
Strike360.00
Volume20
OI24
IV0.46
ContractIDCC260821C00290000
SideCall
Expiry21 Aug 2026
Strike290.00
Volume15
OI20
IV0.49
ContractIDCC260821C00310000
SideCall
Expiry21 Aug 2026
Strike310.00
Volume13
OI10
IV0.46
ContractIDCC260821C00300000
SideCall
Expiry21 Aug 2026
Strike300.00
Volume10
OI74
IV0.46
ContractIDCC260918C00340000
SideCall
Expiry18 Sep 2026
Strike340.00
Volume10
OI21
IV0.44
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.