Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
EDV options intelligence
VANGUARD WORLD FUND EXTENDED DURATION TREAS ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 25 Aug 2026
Checked 25 Aug 2026 22:44 · partial chain
Put-side pressure
Bearish pressure
EDV currently carries bearish options pressure with a 43/100 conviction score. The nearest-chain expected move is 3.3%, with volume/open-interest participation at 0.21.
Expected move
3.3%
Near-term move context
Activity / OI
0.21
Current volume is quieter versus prior open interest
Put-call
1.62
Put-side skew
Trend fit
88
Options agree with trend context
Weekly backdrop
+0.1%
RS -16.5
Expected move
3.3%
Put-call volume
1.62
Volume / OI
0.21
Reference IV
0.16
Max pain
60.00
Underlying
59.51
Nearest expiry
18 Sep 2026
Contracts
126
Research Brief
EDV has a bearish chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 57.54–61.48; The largest call open-interest concentration is 61.00; the largest put concentration is 60.00. The most active strike by current volume is 60.00.
Priced range57.54–61.48
Call concentration61.00
Put concentration60.00
Max pain reference60.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 57.54 to 61.48. Max pain at 60.00 sits inside that range, 0.8% above spot.
Spot
Max pain
57.5459.51 ± 1.9761.48
Confirmation level
A close beyond 61.48 or below 57.54 at the 18 Sep 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 43/100
Pressure is 18/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure18 × 42%
+7.6
How strongly activity leans toward calls or puts.
Participation45 × 22%
+9.9
Volume relative to existing open interest and contract-level activity.
Trend agreement88 × 26%
+22.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility25 × 10%
+2.5
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 61.00; the largest put concentration is 60.00. The most active strike by current volume is 60.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
12
55.00-7.6%
0
13
56.00-5.9%
0
84
57.00-4.2%
0
173
58.00-2.5%
0
46
59.00-0.9%
1
341
60.000.8%
16
5
61.002.5%
1034
7
62.004.2%
58
0
63.005.9%
66
0
64.007.5%
2
0
65.009.2%
3
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+$288,021Delta change / 1% move
Positive peak61.00+$570,490
Negative peak60.00-$230,720
Nearest balance60.29Interpolated sign change
StrikeNegativePositiveNet / 1% move
53.00-10.9%
-$5,084
54.00-9.3%
-$1,369
55.00-7.6%
-$3,924
56.00-5.9%
-$6,439
57.00-4.2%
-$62,643
58.00-2.5%
-$136,652
59.00-0.9%
-$43,309
60.000.8%
-$230,720
61.002.5%
+$570,490
62.004.2%
+$14,278
63.005.9%
+$61,414
64.007.5%
+$8,078
65.009.2%
+$28,631
66.0010.9%
+$22,178
67.0012.6%
+$2,391
68.0014.3%
+$16,712
69.0015.9%
-$3,061
70.0017.6%
+$828
71.0019.3%
-$9,716
72.0021.0%
+$2,981
73.0022.7%
-$4,153
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.
0.16
18 Sep
24d
0.17
16 Oct
52d
0.15
20 Nov
87d
0.19
18 Dec
115d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
55
56
57
58
59
60
61
62
63
64
65
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 4 stored directional transitions, the next stored price moved in the labelled direction 50% of the time.
Directional follow-through50%
Moves contained by pricing100%
Average expiry move0.5%
5 Aug
Bullish · 36
0.1% through expiry
3.4% priced · v2.0
4 Aug
Bullish · 27
0.1% through expiry
3.2% priced · v2.0
3 Aug
Bearish · 52
0.1% through expiry
3.2% priced · v2.0
31 Jul
Mixed · 41
0.1% through expiry
2.7% priced · v2.0
30 Jul
Bullish · 39
-2.3% through expiry
2.5% 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
- Retained chain subset
- Market date
- 25 Aug 2026
- Calculation
- v2.0
- Contracts
- 126 / 126
- 100% of provider contracts were retained for this snapshot.
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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Put-side pressure is present before a decisive weekly price breakdown.
Put-heavy activity matters because it connects the options headline to the actual evidence: $741,314 of estimated gross traded notional, puts · 91+ days · itm, and a bearish 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-18
1W price+0.1%
Call premium10%
Put premium90%
Notional split
C 10% / P 90%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.21
Volume divided by open interest across the visible chain.
Trend fit
88/100
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.
Puts · 91+ days · ITM
puts cluster with 388 contracts traded, $585,618 estimated gross traded notional, and 79% of visible notional.
$585,618
Puts · 46-90 days · ITM
puts cluster with 104 contracts traded, $54,129 estimated gross traded notional, and 7% of visible notional.
$54,129
Calls · 91+ days · OTM
calls cluster with 420 contracts traded, $36,035 estimated gross traded notional, and 5% of visible notional.
$36,035
Calls · 91+ days · ATM
calls cluster with 56 contracts traded, $13,396 estimated gross traded notional, and 2% of visible notional.
$13,396
Puts · 91+ days · OTM
puts cluster with 126 contracts traded, $12,010 estimated gross traded notional, and 2% of visible notional.
$12,010
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
7 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 7 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close59.51
1W+0.1%
RS-16.5
Fair value-9.4%
Options pressure-18
Speculation45
Volatility25
Trend fit88
Today Versus Normal
Stored-options context
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
30d avg - · 7/10 sessions
-
90d avg - · 7/30 sessions
-
180d avg - · 7/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 12:14
Bearish
Pressure -19
Move 2.5%
30 Jul 11:50
Bullish
Pressure 53
Move 2.5%
31 Jul 11:25
Bullish
Pressure 62
Move 2.5%
2 Aug 18:38
Mixed
Pressure -17
Move 2.7%
4 Aug 11:15
Bearish
Pressure -43
Move 3.2%
5 Aug 11:45
Bullish
Pressure 19
Move 3.2%
6 Aug 11:57
Bullish
Pressure 74
Move 3.4%
25 Aug 21:44
Bearish
Pressure -18
Move 3.3%
Strike Map
Where activity is clustering
Strike55.00
Calls · V 0 · OI 0
Puts · V 2 · OI 12
Strike56.00
Calls · V 0 · OI 0
Puts · V 12 · OI 13
Strike57.00
Calls · V 0 · OI 0
Puts · V 80 · OI 84
Strike58.00
Calls · V 0 · OI 0
Puts · V 1 · OI 173
Strike59.00
Calls · V 0 · OI 1
Puts · V 31 · OI 46
Strike60.00
Calls · V 1 · OI 16
Puts · V 329 · OI 341
Strike61.00
Calls · V 8 · OI 1034
Puts · V 1 · OI 5
Strike62.00
Calls · V 30 · OI 58
Puts · V 5 · OI 7
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts15
Avg IV0.16
Put-call10.02
Expiry16 Oct 2026
Contracts8
Avg IV0.17
Put-call0.22
Expiry20 Nov 2026
Contracts40
Avg IV0.15
Put-call1.53
Expiry18 Dec 2026
Contracts63
Avg IV0.19
Put-call1.05
Skew
Call/put IV balance
18 Sep 2026Balanced skew
Call IV0.20
Put IV0.19
Skew-0.01
16 Oct 2026Put IV premium
Call IV0.13
Put IV0.18
Skew0.05
20 Nov 2026Balanced skew
Call IV0.13
Put IV0.17
Skew0.04
18 Dec 2026Put IV premium
Call IV0.14
Put IV0.20
Skew0.06
Contract Tape
Most active contracts
ContractEDV261218C00095000
SideCall
Expiry18 Dec 2026
Strike95.00
Volume-
OI16
IV0.39
ContractEDV261120P00073000
SidePut
Expiry20 Nov 2026
Strike73.00
Volume-
OI7
IV0.28
ContractEDV261120C00071000
SideCall
Expiry20 Nov 2026
Strike71.00
Volume-
OI3
IV0.21
ContractEDV261120C00077000
SideCall
Expiry20 Nov 2026
Strike77.00
Volume-
OI1
IV0.25
ContractEDV261016P00055000
SidePut
Expiry16 Oct 2026
Strike55.00
Volume-
OI1
IV0.25
ContractEDV261218C00053000
SideCall
Expiry18 Dec 2026
Strike53.00
Volume-
OI1
IV0.59
ContractEDV261218C00079000
SideCall
Expiry18 Dec 2026
Strike79.00
Volume-
OI1
IV0.24
ContractEDV260918C00059000
SideCall
Expiry18 Sep 2026
Strike59.00
Volume-
OI1
IV0.21
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
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.