Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
XE options intelligence
X-Energy, Inc. Class A Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
40
Market data through 11 Aug 2026
Checked 12 Aug 2026 08:14 · complete available chain
Options-market disagreement
Mixed pressure
XE currently carries mixed options pressure with a 40/100 conviction score. The nearest-chain expected move is 16.0%, with volume/open-interest participation at 0.03.
Expected move
16.0%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.78
Balanced tape
Trend fit
74
Options agree with trend context
Weekly backdrop
+38.9%
Sharemaestro weekly context
Expected move
16.0%
Put-call volume
0.78
Volume / OI
0.03
Reference IV
1.16
Max pain
17.50
Underlying
22.65
Nearest expiry
21 Aug 2026
Contracts
130
Research Brief
XE has a mixed chain read with 40/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.03–26.27; The largest call open-interest concentration is 20.00; the largest put concentration is 12.50. The most active strike by current volume is 22.50.
Priced range19.03–26.27
Call concentration20.00
Put concentration12.50
Max pain reference17.50
- 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.
- 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 19.03 to 26.27. Max pain at 17.50 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
19.0322.65 ± 3.6226.27
Confirmation level
A close beyond 26.27 or below 19.03 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 40/100
Pressure is 17/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure17 × 42%
+7.1
How strongly activity leans toward calls or puts.
Participation18 × 22%
+4.0
Volume relative to existing open interest and contract-level activity.
Trend agreement74 × 26%
+19.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 20.00; the largest put concentration is 12.50. The most active strike by current volume is 22.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
2.50-89.0%
0
0
5.00-77.9%
0
2
7.50-66.9%
2
190
10.00-55.8%
39
2723
12.50-44.8%
90
1991
15.00-33.8%
441
982
17.50-22.7%
1448
742
20.00-11.7%
2485
175
22.50-0.7%
1913
203
25.0010.4%
1793
56
30.0032.5%
709
0
35.0054.5%
115
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+$831,096Delta change / 1% move
Positive peak20.00+$381,636
Negative peak15.00-$92,498
Nearest balance16.74Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.50-89.0%
-$0
5.00-77.9%
+$242
7.50-66.9%
+$1,659
10.00-55.8%
-$790
12.50-44.8%
-$5,787
15.00-33.8%
-$92,498
17.50-22.7%
+$40,355
20.00-11.7%
+$381,636
22.50-0.7%
+$92,507
25.0010.4%
+$153,912
30.0032.5%
+$117,690
35.0054.5%
+$97,475
40.0076.6%
+$14,734
45.0098.7%
+$16,066
50.00120.8%
+$9,543
55.00142.8%
+$4,350
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.
1.16
21 Aug
10d
0.96
18 Sep
38d
0.96
16 Oct
66d
0.96
15 Jan
157d
1.03
21 Jan
528d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
20
23
25
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
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 130 / 130
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $613,610 of estimated gross traded notional, puts · 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+17
1W price+38.9%
Call premium64%
Put premium36%
Notional split
C 64% / P 36%
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
74/100
Agreement between options pressure and Sharemaestro market context.
Event window
13 Aug
Matched earnings event is 0 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 22-45 days · OTM
puts cluster with 630 contracts traded, $131,570 estimated gross traded notional, and 21% of visible notional.
$131,570
Calls · 91+ days · ITM
calls cluster with 74 contracts traded, $68,910 estimated gross traded notional, and 11% of visible notional.
$68,910
Calls · 22-45 days · ITM
calls cluster with 191 contracts traded, $66,730 estimated gross traded notional, and 11% of visible notional.
$66,730
Calls · 91+ days · ATM
calls cluster with 130 contracts traded, $60,450 estimated gross traded notional, and 10% of visible notional.
$60,450
Calls · 46-90 days · ITM
calls cluster with 85 contracts traded, $52,100 estimated gross traded notional, and 8% of visible notional.
$52,100
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
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 10 completed sessions
Volume rank10th
Volume/OI rank0th
IV rank60th
Market Context
Underlying confirmation
Close22.65
1W+38.9%
RS-
Fair value+2.5%
Options pressure17
Speculation18
Volatility96
Trend fit74
Today Versus Normal
Stored-options context
30d avg 23.1% · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 1.11 · 10 sessions
60th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.45 · 10 sessions
80th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.11 · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:27
Volatility
Pressure 82
Move 25.2%
30 Jul 10:23
Volatility
Pressure 61
Move 23.9%
31 Jul 13:14
Volatility
Pressure 77
Move 25.2%
31 Jul 14:00
Volatility
Pressure 79
Move 24.2%
31 Jul 15:04
Volatility
Pressure 87
Move 26.3%
31 Jul 15:31
Volatility
Pressure 87
Move 25.9%
31 Jul 17:01
Volatility
Pressure 82
Move 26.1%
31 Jul 18:01
Volatility
Pressure 81
Move 25.1%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 0 · OI 0
Puts · V 1 · OI 0
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 2
Puts · V 0 · OI 2
Strike10.00
Calls · V 0 · OI 39
Puts · V 0 · OI 190
Strike12.50
Calls · V 3 · OI 90
Puts · V 0 · OI 2723
Strike15.00
Calls · V 2 · OI 441
Puts · V 91 · OI 1991
Strike17.50
Calls · V 2 · OI 1448
Puts · V 73 · OI 982
Strike20.00
Calls · V 92 · OI 2485
Puts · V 98 · OI 742
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts24
Avg IV1.16
Put-call0.40
Expiry18 Sep 2026
Contracts22
Avg IV0.96
Put-call1.29
Expiry16 Oct 2026
Contracts32
Avg IV0.96
Put-call1.70
Expiry15 Jan 2027
Contracts28
Avg IV0.96
Put-call0.12
Expiry21 Jan 2028
Contracts24
Avg IV1.03
Put-call1.03
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV1.21
Put IV1.20
Skew-0.02
18 Sep 2026Balanced skew
Call IV1.00
Put IV0.96
Skew-0.04
16 Oct 2026Balanced skew
Call IV0.99
Put IV1.01
Skew0.02
15 Jan 2027Call IV premium
Call IV1.03
Put IV0.95
Skew-0.08
21 Jan 2028Balanced skew
Call IV1.02
Put IV1.04
Skew0.02
Contract Tape
Most active contracts
ContractXE260918P00020000
SidePut
Expiry18 Sep 2026
Strike20.00
Volume558
OI2296
IV0.99
ContractXE260821C00022500
SideCall
Expiry21 Aug 2026
Strike22.50
Volume492
OI1913
IV1.15
ContractXE261016P00012500
SidePut
Expiry16 Oct 2026
Strike12.50
Volume337
OI153
IV1.03
ContractXE260821C00030000
SideCall
Expiry21 Aug 2026
Strike30.00
Volume150
OI709
IV1.28
ContractXE270115C00022500
SideCall
Expiry15 Jan 2027
Strike22.50
Volume130
OI714
IV0.98
ContractXE260918C00022500
SideCall
Expiry18 Sep 2026
Strike22.50
Volume108
OI9260
IV0.96
ContractXE260918C00017500
SideCall
Expiry18 Sep 2026
Strike17.50
Volume105
OI1806
IV0.84
ContractXE260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume100
OI2468
IV1.00
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.