Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
INSM options intelligence
Insmed Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
34
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:05 · complete available chain
Options-market disagreement
Mixed pressure
INSM currently carries mixed options pressure with a 34/100 conviction score. The nearest-chain expected move is 13.2%, with volume/open-interest participation at 0.05.
Expected move
13.2%
Wider near-term move priced
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
1.22
Balanced tape
Trend fit
55
Options are not fully confirming trend
Weekly backdrop
-7.8%
RS -38.5
Expected move
13.2%
Put-call volume
1.22
Volume / OI
0.05
Reference IV
0.71
Max pain
110.00
Underlying
106.92
Nearest expiry
21 Aug 2026
Contracts
686
Research Brief
INSM has a mixed 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 92.82–121.02; The largest call open-interest concentration is 130.00; the largest put concentration is 110.00. The most active strike by current volume is 110.00.
Priced range92.82–121.02
Call concentration130.00
Put concentration110.00
Max pain reference110.00
- 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.
- 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 92.82 to 121.02. Max pain at 110.00 sits inside that range, 2.9% above spot.
Spot
Max pain
92.82106.92 ± 14.10121.02
Confirmation level
A close beyond 121.02 or below 92.82 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
Pressure is 5/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure5 × 42%
+2.2
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement55 × 26%
+14.2
How closely the chain read agrees with the underlying trend backdrop.
Volatility90 × 10%
+9.0
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 130.00; the largest put concentration is 110.00. The most active strike by current volume is 110.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
216
85.00-20.5%
2
674
90.00-15.8%
17
880
95.00-11.1%
25
1753
100.00-6.5%
505
1863
105.00-1.8%
832
2126
110.002.9%
2408
84
115.007.6%
2529
27
120.0012.2%
623
204
125.0016.9%
619
0
130.0021.6%
6775
7
135.0026.3%
605
153
140.0030.9%
1118
200
145.0035.6%
34
111
155.0045.0%
218
0
160.0049.6%
236
0
165.0054.3%
714
0
170.0059.0%
1421
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.71
21 Aug
22d
0.65
18 Sep
50d
0.66
20 Nov
113d
0.63
15 Jan
169d
0.62
19 Feb
204d
0.64
19 Mar
232d
0.63
21 May
295d
0.63
20 Aug
386d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
88
90
93
95
98
100
105
110
115
120
125
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 686 / 686
- 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: $3.5M of estimated gross traded notional, puts · 91+ 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-5
1W price-7.8%
Call premium36%
Put premium64%
Notional split
C 36% / P 64%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
55/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 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 · 91+ days · OTM
puts cluster with 2531 contracts traded, $2.1M estimated gross traded notional, and 59% of visible notional.
$2.1M
Calls · 8-21 days · OTM
calls cluster with 1344 contracts traded, $504202 estimated gross traded notional, and 14% of visible notional.
$504202
Calls · 8-21 days · ATM
calls cluster with 595 contracts traded, $333200 estimated gross traded notional, and 9% of visible notional.
$333200
Calls · 8-21 days · ITM
calls cluster with 407 contracts traded, $323565 estimated gross traded notional, and 9% of visible notional.
$323565
Puts · 8-21 days · OTM
puts cluster with 440 contracts traded, $160542 estimated gross traded notional, and 5% of visible notional.
$160542
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.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close98.60
1W-7.8%
RS-38.5
Fair value+15.2%
Options pressure-5
Speculation41
Volatility90
Trend fit55
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:16
Volatility
Pressure 84
Move 14.5%
30 Jul 10:12
Volatility
Pressure 97
Move 12.9%
31 Jul 10:05
Mixed
Pressure -5
Move 13.2%
Strike Map
Where activity is clustering
Strike55.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
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 7
Strike80.00
Calls · V 0 · OI 10
Puts · V 5 · OI 60
Strike85.00
Calls · V 0 · OI 2
Puts · V 12 · OI 216
Strike87.50
Calls · V 0 · OI 0
Puts · V 0 · OI 13
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts86
Avg IV0.71
Put-call0.19
Expiry18 Sep 2026
Contracts42
Avg IV0.65
Put-call2.50
Expiry20 Nov 2026
Contracts78
Avg IV0.66
Put-call2.37
Expiry15 Jan 2027
Contracts114
Avg IV0.63
Put-call78.29
Expiry19 Feb 2027
Contracts56
Avg IV0.62
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.70
Put IV0.70
Skew-
18 Sep 2026Balanced skew
Call IV0.65
Put IV0.62
Skew-0.03
20 Nov 2026Put IV premium
Call IV0.64
Put IV0.72
Skew0.08
15 Jan 2027Balanced skew
Call IV0.63
Put IV0.65
Skew0.02
19 Feb 2027Balanced skew
Call IV0.61
Put IV0.62
Skew0.01
Contract Tape
Most active contracts
ContractINSM270115P00080000
SidePut
Expiry15 Jan 2027
Strike80.00
Volume1875
OI7780
IV0.69
ContractINSM260821C00110000
SideCall
Expiry21 Aug 2026
Strike110.00
Volume1017
OI2408
IV0.75
ContractINSM260821C00105000
SideCall
Expiry21 Aug 2026
Strike105.00
Volume595
OI832
IV0.71
ContractINSM270115P00090000
SidePut
Expiry15 Jan 2027
Strike90.00
Volume550
OI11
IV0.65
ContractINSM260821C00100000
SideCall
Expiry21 Aug 2026
Strike100.00
Volume407
OI505
IV0.72
ContractINSM260821P00095000
SidePut
Expiry21 Aug 2026
Strike95.00
Volume399
OI880
IV0.68
ContractINSM260821C00115000
SideCall
Expiry21 Aug 2026
Strike115.00
Volume200
OI2529
IV0.70
ContractINSM260821C00130000
SideCall
Expiry21 Aug 2026
Strike130.00
Volume100
OI6775
IV0.87
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.