Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
BWXT options intelligence
BWX Technologies Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 31 Jul 2026
Checked 1 Aug 2026 03:09 · complete available chain
Volatility expansion watch
Volatility pressure
BWXT currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 10.9%, with volume/open-interest participation at 0.03.
Expected move
10.9%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.17
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-3.3%
RS -19.3
Expected move
10.9%
Put-call volume
0.17
Volume / OI
0.03
Reference IV
0.55
Max pain
190.00
Underlying
174.52
Nearest expiry
21 Aug 2026
Contracts
430
Research Brief
BWXT 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 155.57–193.47; The largest call open-interest concentration is 210.00; the largest put concentration is 170.00. The most active strike by current volume is 180.00.
Priced range155.57–193.47
Call concentration210.00
Put concentration170.00
Max pain reference190.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 155.57 to 193.47. Max pain at 190.00 sits inside that range, 8.9% above spot.
Spot
Max pain
155.57174.52 ± 18.95193.47
Confirmation level
A close beyond 193.47 or below 155.57 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 49/100
Pressure is 76/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure76 × 42%
+32.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility79 × 10%
+7.9
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 210.00; the largest put concentration is 170.00. The most active strike by current volume is 180.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
208
150.00-14.0%
12
487
165.00-5.5%
24
759
170.00-2.6%
341
134
175.000.3%
46
243
180.003.1%
119
275
185.006.0%
258
195
190.008.9%
286
107
195.0011.7%
162
372
200.0014.6%
505
148
210.0020.3%
764
190
220.0026.1%
298
11
230.0031.8%
359
0
240.0037.5%
579
0
250.0043.3%
208
0
260.0049.0%
211
0
280.0060.4%
511
0
300.0071.9%
221
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.
0.55
21 Aug
21d
0.51
18 Sep
49d
0.51
20 Nov
112d
0.50
15 Jan
168d
0.50
19 Feb
203d
0.51
21 Jan
539d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
140
145
150
155
160
165
170
175
180
185
190
195
200
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
- 430 / 430
- 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
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $532000 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+76
1W price-3.3%
Call premium84%
Put premium16%
Notional split
C 84% / P 16%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
3 Aug
Matched earnings event is 2 days away.
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 49 contracts traded, $162425 estimated gross traded notional, and 31% of visible notional.
$162425
Calls · 8-21 days · OTM
calls cluster with 210 contracts traded, $93588 estimated gross traded notional, and 18% of visible notional.
$93588
Calls · 91+ days · OTM
calls cluster with 63 contracts traded, $74365 estimated gross traded notional, and 14% of visible notional.
$74365
Calls · 46-90 days · OTM
calls cluster with 104 contracts traded, $66568 estimated gross traded notional, and 13% of visible notional.
$66568
Puts · 91+ days · ITM
puts cluster with 7 contracts traded, $32835 estimated gross traded notional, and 6% of visible notional.
$32835
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.
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
Close168.70
1W-3.3%
RS-19.3
Fair value+29.2%
Options pressure76
Speculation41
Volatility79
Trend fit0
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 10:20
Bullish
Pressure 56
Move 11.9%
30 Jul 10:14
Bullish
Pressure 55
Move 13.6%
31 Jul 03:21
Bullish
Pressure 52
Move 11.5%
31 Jul 13:53
Bullish
Pressure 35
Move 12.1%
31 Jul 15:09
Mixed
Pressure 15
Move 10.8%
31 Jul 15:25
Mixed
Pressure 16
Move 10.7%
1 Aug 02:09
Volatility
Pressure 76
Move 10.9%
Strike Map
Where activity is clustering
Strike90.00
Calls · V 0 · OI 1
Puts · V 1 · OI 28
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike110.00
Calls · V 0 · OI 1
Puts · V 0 · OI 3
Strike115.00
Calls · V 0 · OI 7
Puts · V 0 · OI 82
Strike120.00
Calls · V 0 · OI 4
Puts · V 0 · OI 7
Strike125.00
Calls · V 0 · OI 0
Puts · V 0 · OI 76
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts76
Avg IV0.55
Put-call0.19
Expiry18 Sep 2026
Contracts52
Avg IV0.51
Put-call0.09
Expiry20 Nov 2026
Contracts76
Avg IV0.51
Put-call0.44
Expiry15 Jan 2027
Contracts78
Avg IV0.50
Put-call0.18
Expiry19 Feb 2027
Contracts68
Avg IV0.50
Put-call0.13
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.55
Put IV0.61
Skew0.06
18 Sep 2026Balanced skew
Call IV0.50
Put IV0.52
Skew0.02
20 Nov 2026Balanced skew
Call IV0.50
Put IV0.52
Skew0.02
15 Jan 2027Balanced skew
Call IV0.49
Put IV0.50
Skew0.01
19 Feb 2027Balanced skew
Call IV0.49
Put IV0.49
Skew-
Contract Tape
Most active contracts
ContractBWXT260821C00180000
SideCall
Expiry21 Aug 2026
Strike180.00
Volume163
OI119
IV0.59
ContractBWXT260918C00185000
SideCall
Expiry18 Sep 2026
Strike185.00
Volume83
OI26
IV0.51
ContractBWXT270115C00240000
SideCall
Expiry15 Jan 2027
Strike240.00
Volume24
OI185
IV0.51
ContractBWXT270115C00155000
SideCall
Expiry15 Jan 2027
Strike155.00
Volume20
OI30
IV0.52
ContractBWXT270219C00155000
SideCall
Expiry19 Feb 2027
Strike155.00
Volume20
OI2
IV0.51
ContractBWXT260821P00145000
SidePut
Expiry21 Aug 2026
Strike145.00
Volume13
OI45
IV0.61
ContractBWXT260918C00200000
SideCall
Expiry18 Sep 2026
Strike200.00
Volume12
OI63
IV0.48
ContractBWXT260821C00175000
SideCall
Expiry21 Aug 2026
Strike175.00
Volume12
OI46
IV0.58
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.