Ticker Options Intelligence

CM options intelligence

Canadian Imperial Bank Of Commerce options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 34 Market data through 31 Jul 2026 Checked 2 Aug 2026 12:59 · complete available chain

Call-side pressure

Bullish pressure

CM currently carries bullish options pressure with a 34/100 conviction score. The nearest-chain expected move is 4.4%, with volume/open-interest participation at 0.00.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 4.4%

Near-term move context

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call 0.54

Call-side skew

Trend fit 68

Options agree with trend context

Weekly backdrop +0.9%

RS 15.5

Expected move 4.4%
Put-call volume 0.54
Volume / OI 0.00
Reference IV 0.22
Max pain 115.00
Underlying 118.55
Nearest expiry 21 Aug 2026
Contracts 306

Research Brief

CM has a bullish chain read with 34/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 113.32–123.78; The largest call open-interest concentration is 115.00; the largest put concentration is 115.00. The most active strike by current volume is 115.00.

Priced range113.32–123.78
Call concentration115.00
Put concentration115.00
Max pain reference115.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 113.32 to 123.78. Max pain at 115.00 sits inside that range, 3.0% below spot.

Spot Max pain
113.32118.55 ± 5.23123.78
Confirmation level

A close beyond 123.78 or below 113.32 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 34/100

Evidence alignment, not probability

Pressure is 30/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure30 × 42%
+12.5

How strongly activity leans toward calls or puts.

Participation5 × 22%
+1.0

Volume relative to existing open interest and contract-level activity.

Trend agreement68 × 26%
+17.6

How closely the chain read agrees with the underlying trend backdrop.

Volatility33 × 10%
+3.3

The intensity of implied volatility and the priced move.

Reconstructed score34.4Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 115.00; the largest put concentration is 115.00. The most active strike by current volume is 115.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
60.00-49.4%
0
0
65.00-45.2%
0
0
70.00-41.0%
0
0
75.00-36.7%
0
0
80.00-32.5%
0
0
85.00-28.3%
0
0
90.00-24.1%
0
9
95.00-19.9%
0
12
100.00-15.6%
7
119
105.00-11.4%
68
277
110.00-7.2%
291
1187
115.00-3.0%
1101
137
120.001.2%
265
50
125.005.4%
480
0
130.009.7%
42
0
135.0013.9%
1
0
140.0018.1%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

0.92× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

0.22 21 Aug 21d
0.22 18 Sep 49d
0.23 18 Dec 140d
0.23 15 Jan 168d
0.24 19 Mar 231d
0.24 21 Jan 539d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

95
100
105
110
115
120
125
130
135
140
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
306 / 306
  • 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-heavy activity with trend alignment

93/100
Primary intent Call-heavy activity with trend alignment

Call concentration and the underlying trend align, but aggregate volume cannot establish whether calls were bought or sold.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Call-heavy activity with trend alignment matters because it connects the options headline to the actual evidence: $51888 of estimated gross traded notional, calls · 91+ days · atm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+30
1W price+0.9%
Call premium96%
Put premium4%
Notional split C 96% / P 4% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.00 Volume divided by open interest across the visible chain.
Trend fit 68/100 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.
Conviction clusters Calls · 91+ days · ATM
Calls · 91+ days · ATM calls cluster with 30 contracts traded, $42900 estimated gross traded notional, and 83% of visible notional.
$42900
Calls · 91+ days · ITM calls cluster with 2 contracts traded, $3625 estimated gross traded notional, and 7% of visible notional.
$3625
Calls · 8-21 days · ITM calls cluster with 1 contracts traded, $1395 estimated gross traded notional, and 3% of visible notional.
$1395
Calls · 46-90 days · ITM calls cluster with 1 contracts traded, $1015 estimated gross traded notional, and 2% of visible notional.
$1015
Puts · 91+ days · OTM puts cluster with 14 contracts traded, $888 estimated gross traded notional, and 2% of visible notional.
$888

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Warning Bullish pressure over fair value

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

Sharemaestro weekly
Close118.55
1W+0.9%
RS15.5
Fair value+81.6%
Options pressure30
Speculation5
Volatility33
Trend fit68

Today Versus Normal

Stored-options context

View history
Expected move 4.4% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.22 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.54 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.00 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:02 Bullish
Pressure 79
Move 6.0%
30 Jul 10:01 Bullish
Pressure 49
Move 4.7%
31 Jul 10:00 Bullish
Pressure 78
Move 5.0%
31 Jul 22:22 Mixed
Pressure -2
Move 5.2%
2 Aug 11:59 Bullish
Pressure 30
Move 4.4%

Strike Map

Where activity is clustering

Full strike map
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 9

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts46
Avg IV0.22
Put-call1.00
Expiry18 Sep 2026
Contracts42
Avg IV0.22
Put-call1.50
Expiry18 Dec 2026
Contracts40
Avg IV0.23
Put-call-
Expiry15 Jan 2027
Contracts72
Avg IV0.23
Put-call5.00
Expiry19 Mar 2027
Contracts44
Avg IV0.24
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV0.25
Put IV0.24
Skew-0.01
18 Sep 2026Balanced skew
Call IV0.22
Put IV0.25
Skew0.03
18 Dec 2026Put IV premium
Call IV0.17
Put IV0.24
Skew0.07
15 Jan 2027Put IV premium
Call IV0.20
Put IV0.26
Skew0.06
19 Mar 2027Put IV premium
Call IV0.19
Put IV0.26
Skew0.07

Contract Tape

Most active contracts

Full contract tape
ContractCM280121C00120000
SideCall
Expiry21 Jan 2028
Strike120.00
Volume30
OI539
IV0.21
ContractCM270115P00095000
SidePut
Expiry15 Jan 2027
Strike95.00
Volume5
OI138
IV0.31
ContractCM270115P00060000
SidePut
Expiry15 Jan 2027
Strike60.00
Volume5
OI54
IV0.36
ContractCM261218P00065000
SidePut
Expiry18 Dec 2026
Strike65.00
Volume4
OI7
IV0.35
ContractCM260821P00115000
SidePut
Expiry21 Aug 2026
Strike115.00
Volume3
OI1187
IV0.24
ContractCM260821C00120000
SideCall
Expiry21 Aug 2026
Strike120.00
Volume2
OI265
IV0.25
ContractCM260918P00115000
SidePut
Expiry18 Sep 2026
Strike115.00
Volume2
OI52
IV0.25
ContractCM260918C00120000
SideCall
Expiry18 Sep 2026
Strike120.00
Volume1
OI1250
IV0.22