Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
ABVX options intelligence
Abivax SA American Depositary Shares options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 31 Jul 2026
Checked 2 Aug 2026 08:09 · complete available chain
Volatility expansion watch
Volatility pressure
ABVX currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 7.5%, with volume/open-interest participation at 0.05.
Expected move
7.5%
Wider near-term move priced
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.37
Call-side skew
Trend fit
40
Options are not fully confirming trend
Weekly backdrop
-0.6%
RS 3.7
Expected move
7.5%
Put-call volume
0.37
Volume / OI
0.05
Reference IV
0.68
Max pain
125.00
Underlying
124.92
Nearest expiry
7 Aug 2026
Contracts
1408
Research Brief
ABVX has a volatility chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 115.57–134.27; The largest call open-interest concentration is 180.00; the largest put concentration is 60.00. The most active strike by current volume is 100.00.
Priced range115.57–134.27
Call concentration180.00
Put concentration60.00
Max pain reference125.00
- A clear directional pressure reading develops and price begins to agree.
- 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
Options imply 115.57 to 134.27. Max pain at 125.00 sits inside that range, 0.1% above spot.
Spot
Max pain
115.57124.92 ± 9.35134.27
Confirmation level
A close beyond 134.27 or below 115.57 at the 7 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 49/100
Pressure is 52/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure52 × 42%
+22.0
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement40 × 26%
+10.4
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 180.00; the largest put concentration is 60.00. The most active strike by current volume is 100.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
860
55.00-56.0%
0
1182
60.00-52.0%
0
221
70.00-44.0%
0
186
80.00-36.0%
0
152
95.00-24.0%
13
47
100.00-19.9%
23
214
110.00-11.9%
56
36
115.00-7.9%
69
161
120.00-3.9%
98
34
124.00-0.7%
81
78
125.000.1%
114
17
130.004.1%
218
18
135.008.1%
43
23
139.0011.3%
264
24
140.0012.1%
162
25
150.0020.1%
63
0
180.0044.1%
1166
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+$9.3MDelta change / 1% move
Positive peak130.00+$2.1M
Negative peak60.00-$147,420
Nearest balance124.64Interpolated sign change
StrikeNegativePositiveNet / 1% move
115.00-7.9%
+$139,529
116.00-7.1%
-$6,372
117.00-6.3%
-$6,292
118.00-5.5%
-$15,159
119.00-4.7%
-$22,024
120.00-3.9%
+$427,846
121.00-3.1%
-$6,208
122.00-2.3%
-$39,097
123.00-1.5%
-$21,594
124.00-0.7%
+$23,612
125.000.1%
-$13,287
126.000.9%
-$1,707
127.001.7%
-$8,557
128.002.5%
-$25,215
129.003.3%
-$9,336
130.004.1%
+$2.1M
131.004.9%
-$31,311
132.005.7%
+$34,153
133.006.5%
+$18,112
134.007.3%
+$36,691
135.008.1%
+$474,635
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.
0.68
7 Aug
7d
0.66
14 Aug
14d
0.69
21 Aug
21d
0.67
28 Aug
28d
0.67
4 Sep
35d
0.68
11 Sep
42d
0.68
18 Sep
49d
0.69
16 Oct
77d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
100
102
105
107
110
112
115
117
120
122
124
127
129
132
134
137
139
142
144
147
149
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 1 stored directional transitions, the next stored price moved in the labelled direction 0% of the time.
Directional follow-through0%
Moves contained by pricing100%
Average expiry move0.6%
30 Jul
Bullish · 45
-0.6% through expiry
4.6% 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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1408 / 1408
- 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: $3.3M 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+52
1W price-0.6%
Call premium78%
Put premium22%
Notional split
C 78% / P 22%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
40/100
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 240 contracts traded, $1.1M estimated gross traded notional, and 32% of visible notional.
$1.1M
Calls · 22-45 days · ITM
calls cluster with 151 contracts traded, $382,995 estimated gross traded notional, and 12% of visible notional.
$382,995
Puts · 46-90 days · OTM
puts cluster with 453 contracts traded, $358,875 estimated gross traded notional, and 11% of visible notional.
$358,875
Calls · 8-21 days · OTM
calls cluster with 2718 contracts traded, $292,322 estimated gross traded notional, and 9% of visible notional.
$292,322
Calls · 91+ days · OTM
calls cluster with 186 contracts traded, $268,685 estimated gross traded notional, and 8% of visible notional.
$268,685
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.
Underlying price is close to the max-pain zone.
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
Close124.92
1W-0.6%
RS3.7
Fair value+167.0%
Options pressure52
Speculation41
Volatility77
Trend fit40
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 10:27
Bullish
Pressure 31
Move 5.3%
30 Jul 10:23
Bullish
Pressure 69
Move 8.3%
31 Jul 10:12
Bullish
Pressure 37
Move 4.6%
1 Aug 01:59
Bullish
Pressure 52
Move 1.4%
2 Aug 07:09
Volatility
Pressure 52
Move 7.5%
Strike Map
Where activity is clustering
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 860
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1182
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 101
Strike70.00
Calls · V 0 · OI 0
Puts · V 4 · OI 221
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Strike79.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 3 · OI 186
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts186
Avg IV0.68
Put-call1.18
Expiry14 Aug 2026
Contracts160
Avg IV0.66
Put-call0.23
Expiry21 Aug 2026
Contracts132
Avg IV0.69
Put-call0.10
Expiry28 Aug 2026
Contracts126
Avg IV0.67
Put-call0.20
Expiry4 Sep 2026
Contracts114
Avg IV0.67
Put-call0.07
Skew
Call/put IV balance
7 Aug 2026Call IV premium
Call IV0.80
Put IV0.62
Skew-0.18
14 Aug 2026Balanced skew
Call IV0.69
Put IV0.69
Skew-
21 Aug 2026Balanced skew
Call IV0.68
Put IV0.73
Skew0.05
28 Aug 2026Balanced skew
Call IV0.69
Put IV0.69
Skew-
4 Sep 2026Balanced skew
Call IV0.67
Put IV0.68
Skew0.01
Contract Tape
Most active contracts
ContractABVX260821C00195000
SideCall
Expiry21 Aug 2026
Strike195.00
Volume1049
OI1099
IV1.03
ContractABVX260807P00100000
SidePut
Expiry7 Aug 2026
Strike100.00
Volume519
OI47
IV0.87
ContractABVX260821C00200000
SideCall
Expiry21 Aug 2026
Strike200.00
Volume379
OI3168
IV0.92
ContractABVX260821C00185000
SideCall
Expiry21 Aug 2026
Strike185.00
Volume365
OI160
IV0.56
ContractABVX260904C00190000
SideCall
Expiry4 Sep 2026
Strike190.00
Volume261
OI18
IV0.45
ContractABVX260828C00190000
SideCall
Expiry28 Aug 2026
Strike190.00
Volume260
OI266
IV0.51
ContractABVX260821C00130000
SideCall
Expiry21 Aug 2026
Strike130.00
Volume248
OI6379
IV0.63
ContractABVX261016P00100000
SidePut
Expiry16 Oct 2026
Strike100.00
Volume225
OI335
IV0.74
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
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.