Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
RMBS options intelligence
Rambus Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
27
Market data through 12 Aug 2026
Checked 13 Aug 2026 11:41 · complete available chain
Options-market disagreement
Mixed pressure
RMBS currently carries mixed options pressure with a 27/100 conviction score. The nearest-chain expected move is 8.9%, with volume/open-interest participation at 0.03.
Expected move
8.9%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
1.07
Balanced tape
Trend fit
59
Options are not fully confirming trend
Weekly backdrop
+11.5%
RS -14.9
Expected move
8.9%
Put-call volume
1.07
Volume / OI
0.03
Reference IV
0.72
Max pain
100.00
Underlying
101.52
Nearest expiry
21 Aug 2026
Contracts
436
Research Brief
RMBS has a mixed chain read with 27/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 92.47–110.57; The largest call open-interest concentration is 150.00; the largest put concentration is 100.00. The most active strike by current volume is 80.00.
Priced range92.47–110.57
Call concentration150.00
Put concentration100.00
Max pain reference100.00
- 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 92.47 to 110.57. Max pain at 100.00 sits inside that range, 1.5% below spot.
Spot
Max pain
92.47101.52 ± 9.05110.57
Confirmation level
A close beyond 110.57 or below 92.47 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 27/100
Pressure is 1/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure1 × 42%
+0.4
How strongly activity leans toward calls or puts.
Participation11 × 22%
+2.4
Volume relative to existing open interest and contract-level activity.
Trend agreement59 × 26%
+15.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility86 × 10%
+8.6
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 150.00; the largest put concentration is 100.00. The most active strike by current volume is 80.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
605
65.00-36.0%
11
781
75.00-26.1%
43
1478
80.00-21.2%
41
1301
85.00-16.3%
173
155
87.50-13.8%
321
855
90.00-11.3%
214
1196
95.00-6.4%
122
5556
100.00-1.5%
810
242
105.003.4%
811
258
110.008.4%
1305
281
115.0013.3%
205
221
120.0018.2%
819
176
125.0023.1%
3872
450
130.0028.1%
512
0
150.0047.8%
5314
0
155.0052.7%
686
0
160.0057.6%
532
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Negative gamma proxy
Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile-$1.3MDelta change / 1% move
Positive peak110.00+$362,796
Negative peak100.00-$1.8M
Nearest balance104.52Interpolated sign change
StrikeNegativePositiveNet / 1% move
60.00-40.9%
-$9,669
65.00-36.0%
-$26,879
70.00-31.0%
-$30,056
75.00-26.1%
-$52,439
80.00-21.2%
-$218,671
82.50-18.7%
-$34,665
85.00-16.3%
-$169,537
87.50-13.8%
+$22,003
90.00-11.3%
-$56,698
92.50-8.9%
-$48,395
95.00-6.4%
-$425,863
97.50-4.0%
-$4,103
100.00-1.5%
-$1.8M
105.003.4%
+$185,822
110.008.4%
+$362,796
115.0013.3%
+$68,036
120.0018.2%
+$50,115
125.0023.1%
+$359,651
130.0028.1%
+$65,243
135.0033.0%
+$42,516
140.0037.9%
+$21,985
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
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.72
21 Aug
9d
0.70
18 Sep
37d
0.81
20 Nov
100d
0.83
15 Jan
156d
0.84
19 Feb
191d
0.83
21 Jan
527d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
83
85
88
90
93
95
98
100
105
110
115
120
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 436 / 436
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $1.0M of estimated gross traded notional, calls · 22-45 days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-1
1W price+11.5%
Call premium65%
Put premium35%
Notional split
C 65% / P 35%
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
59/100
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 · 22-45 days · OTM
calls cluster with 534 contracts traded, $271,308 estimated gross traded notional, and 27% of visible notional.
$271,308
Calls · 91+ days · OTM
calls cluster with 69 contracts traded, $141,065 estimated gross traded notional, and 14% of visible notional.
$141,065
Calls · 91+ days · ITM
calls cluster with 36 contracts traded, $134,110 estimated gross traded notional, and 13% of visible notional.
$134,110
Puts · 22-45 days · ATM
puts cluster with 102 contracts traded, $84,150 estimated gross traded notional, and 8% of visible notional.
$84,150
Puts · 91+ days · ITM
puts cluster with 23 contracts traded, $60,165 estimated gross traded notional, and 6% of visible notional.
$60,165
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
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 11 completed sessions
Volume rank36th
Volume/OI rank27th
IV rank9th
Market Context
Underlying confirmation
Close101.52
1W+11.5%
RS-14.9
Fair value+39.0%
Options pressure-1
Speculation11
Volatility86
Trend fit59
Today Versus Normal
Stored-options context
30d avg 16.0% · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.89 · 11 sessions
9th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 2.08 · 11 sessions
64th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.07 · 11 sessions
27th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:22
Mixed
Pressure -14
Move 18.8%
30 Jul 10:16
Volatility
Pressure -26
Move 19.1%
31 Jul 09:08
Mixed
Pressure -4
Move 17.7%
31 Jul 12:44
Mixed
Pressure 12
Move 17.8%
2 Aug 02:16
Bullish
Pressure 23
Move 17.7%
2 Aug 06:50
Bullish
Pressure 31
Move 17.7%
4 Aug 10:04
Bullish
Pressure 35
Move 17.2%
5 Aug 10:12
Bullish
Pressure 60
Move 20.0%
Strike Map
Where activity is clustering
Strike47.50
Calls · V 0 · OI 80
Puts · V 1 · OI 349
Strike50.00
Calls · V 0 · OI 6
Puts · V 0 · OI 228
Strike55.00
Calls · V 0 · OI 10
Puts · V 6 · OI 315
Strike60.00
Calls · V 1 · OI 3
Puts · V 0 · OI 421
Strike65.00
Calls · V 0 · OI 11
Puts · V 4 · OI 605
Strike70.00
Calls · V 0 · OI 38
Puts · V 2 · OI 351
Strike75.00
Calls · V 0 · OI 43
Puts · V 39 · OI 781
Strike80.00
Calls · V 0 · OI 41
Puts · V 152 · OI 1478
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts80
Avg IV0.72
Put-call2.55
Expiry18 Sep 2026
Contracts48
Avg IV0.70
Put-call0.61
Expiry20 Nov 2026
Contracts80
Avg IV0.81
Put-call1.71
Expiry15 Jan 2027
Contracts82
Avg IV0.83
Put-call1.36
Expiry19 Feb 2027
Contracts64
Avg IV0.84
Put-call0.21
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.71
Put IV0.72
Skew0.01
18 Sep 2026Balanced skew
Call IV0.72
Put IV0.70
Skew-0.02
20 Nov 2026Balanced skew
Call IV0.84
Put IV0.82
Skew-0.02
15 Jan 2027Balanced skew
Call IV0.83
Put IV0.82
Skew-0.01
19 Feb 2027Balanced skew
Call IV0.84
Put IV0.84
Skew-
Contract Tape
Most active contracts
ContractRMBS260918C00120000
SideCall
Expiry18 Sep 2026
Strike120.00
Volume268
OI365
IV0.72
ContractRMBS260918C00105000
SideCall
Expiry18 Sep 2026
Strike105.00
Volume205
OI170
IV0.72
ContractRMBS260821P00080000
SidePut
Expiry21 Aug 2026
Strike80.00
Volume152
OI1478
IV0.85
ContractRMBS260918P00100000
SidePut
Expiry18 Sep 2026
Strike100.00
Volume102
OI173
IV0.70
ContractRMBS260821P00085000
SidePut
Expiry21 Aug 2026
Strike85.00
Volume94
OI1301
IV0.83
ContractRMBS260821C00110000
SideCall
Expiry21 Aug 2026
Strike110.00
Volume74
OI1305
IV0.71
ContractRMBS260821P00092500
SidePut
Expiry21 Aug 2026
Strike92.50
Volume63
OI219
IV0.71
ContractRMBS260918P00090000
SidePut
Expiry18 Sep 2026
Strike90.00
Volume47
OI131
IV0.70
Research Graph
Related research and context
Sharemaestro research
Related News
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.