Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
ZM options intelligence
Zoom Video Communications Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
48
Market data through 31 Jul 2026
Checked 1 Aug 2026 23:19 · complete available chain
Call-side pressure
Bullish pressure
ZM currently carries bullish options pressure with a 48/100 conviction score. The nearest-chain expected move is 4.8%, with volume/open-interest participation at 0.05.
Expected move
4.8%
Near-term move context
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.28
Call-side skew
Trend fit
29
Options are not fully confirming trend
Weekly backdrop
+9.2%
RS 1.7
Expected move
4.8%
Put-call volume
0.28
Volume / OI
0.05
Reference IV
0.44
Max pain
91.00
Underlying
96.07
Nearest expiry
7 Aug 2026
Contracts
1142
Research Brief
ZM has a bullish chain read with 48/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 91.46–100.68; The largest call open-interest concentration is 93.00; the largest put concentration is 91.00. The most active strike by current volume is 96.00.
Priced range91.46–100.68
Call concentration93.00
Put concentration91.00
Max pain reference91.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 91.46 to 100.68. Max pain at 91.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
91.4696.07 ± 4.61100.68
Confirmation level
A close beyond 100.68 or below 91.46 at the 7 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 48/100
Pressure is 62/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure62 × 42%
+26.0
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement29 × 26%
+7.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility50 × 10%
+5.0
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 93.00; the largest put concentration is 91.00. The most active strike by current volume is 96.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
122
81.00-15.7%
0
111
82.00-14.6%
0
139
85.00-11.5%
20
101
87.00-9.4%
5
133
88.00-8.4%
13
16
90.00-6.3%
58
377
91.00-5.3%
293
9
92.00-4.2%
84
3
93.00-3.2%
570
4
94.00-2.2%
62
51
95.00-1.1%
143
1
96.00-0.1%
350
12
97.001.0%
60
1
98.002.0%
134
27
100.004.1%
54
2
101.005.1%
14
0
105.009.3%
37
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.44
7 Aug
7d
0.40
14 Aug
14d
0.43
21 Aug
21d
0.55
28 Aug
28d
0.53
4 Sep
35d
0.51
11 Sep
42d
0.51
18 Sep
49d
0.47
20 Nov
112d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
77
79
80
81
83
85
86
87
89
91
92
93
95
97
98
99
101
103
104
105
115
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1142 / 1142
- 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.
Options pressure and weekly price action are pointing in the same constructive direction.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $4.9M of estimated gross traded notional, calls · 0-7 days · atm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+62
1W price+9.2%
Call premium82%
Put premium18%
Notional split
C 82% / P 18%
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
29/100
Agreement between options pressure and Sharemaestro market context.
Event window
20 Aug
Matched earnings event is 18 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 0-7 days · ATM
calls cluster with 3210 contracts traded, $718324 estimated gross traded notional, and 15% of visible notional.
$718324
Calls · 46-90 days · OTM
calls cluster with 1546 contracts traded, $648335 estimated gross traded notional, and 13% of visible notional.
$648335
Calls · 91+ days · OTM
calls cluster with 762 contracts traded, $564454 estimated gross traded notional, and 11% of visible notional.
$564454
Calls · 91+ days · ITM
calls cluster with 199 contracts traded, $380580 estimated gross traded notional, and 8% of visible notional.
$380580
Calls · 8-21 days · ATM
calls cluster with 1131 contracts traded, $356037 estimated gross traded notional, and 7% of visible notional.
$356037
Setup Classification
Opportunity and risk frame
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
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
Close96.07
1W+9.2%
RS1.7
Fair value+26.5%
Options pressure62
Speculation41
Volatility50
Trend fit29
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:14
Bullish
Pressure 46
Move 4.5%
30 Jul 10:10
Bullish
Pressure 18
Move 5.9%
31 Jul 10:04
Mixed
Pressure 10
Move 5.3%
1 Aug 22:19
Bullish
Pressure 62
Move 4.8%
Strike Map
Where activity is clustering
Strike55.00
Calls · V 0 · OI 0
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 26
Strike74.00
Calls · V 0 · OI 0
Puts · V 0 · OI 44
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Strike76.00
Calls · V 0 · OI 0
Puts · V 0 · OI 17
Strike77.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts84
Avg IV0.44
Put-call0.08
Expiry14 Aug 2026
Contracts88
Avg IV0.40
Put-call0.04
Expiry21 Aug 2026
Contracts120
Avg IV0.43
Put-call0.42
Expiry28 Aug 2026
Contracts80
Avg IV0.55
Put-call0.40
Expiry4 Sep 2026
Contracts80
Avg IV0.53
Put-call0.47
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.46
Put IV0.43
Skew-0.03
14 Aug 2026Balanced skew
Call IV0.45
Put IV0.47
Skew0.02
21 Aug 2026Balanced skew
Call IV0.42
Put IV0.42
Skew-
28 Aug 2026Put IV premium
Call IV0.55
Put IV0.66
Skew0.11
4 Sep 2026Balanced skew
Call IV0.60
Put IV0.58
Skew-0.02
Contract Tape
Most active contracts
ContractZM260807C00096000
SideCall
Expiry7 Aug 2026
Strike96.00
Volume1588
OI350
IV0.44
ContractZM260918P00080000
SidePut
Expiry18 Sep 2026
Strike80.00
Volume1163
OI6103
IV0.53
ContractZM260807C00098000
SideCall
Expiry7 Aug 2026
Strike98.00
Volume889
OI134
IV0.48
ContractZM260814C00099000
SideCall
Expiry14 Aug 2026
Strike99.00
Volume776
OI34
IV0.42
ContractZM260918C00100000
SideCall
Expiry18 Sep 2026
Strike100.00
Volume772
OI8559
IV0.50
ContractZM260918C00110000
SideCall
Expiry18 Sep 2026
Strike110.00
Volume590
OI5644
IV0.51
ContractZM260807C00097000
SideCall
Expiry7 Aug 2026
Strike97.00
Volume521
OI60
IV0.48
ContractZM260814C00097000
SideCall
Expiry14 Aug 2026
Strike97.00
Volume507
OI160
IV0.42
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.