Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
STM options intelligence
STMicroelectronics NV ADR options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 3 Aug 2026
Checked 4 Aug 2026 11:01 · complete available chain
Volatility expansion watch
Volatility pressure
STM currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 7.2%, with volume/open-interest participation at 0.03.
Expected move
7.2%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
2.36
Put-side skew
Trend fit
59
Options are not fully confirming trend
Weekly backdrop
+1.6%
RS 26.1
Expected move
7.2%
Put-call volume
2.36
Volume / OI
0.03
Reference IV
0.86
Max pain
50.00
Underlying
52.39
Nearest expiry
7 Aug 2026
Contracts
1072
Research Brief
STM has a volatility chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 48.62–56.16; The largest call open-interest concentration is 51.00; the largest put concentration is 51.00. The most active strike by current volume is 53.00.
Priced range48.62–56.16
Call concentration51.00
Put concentration51.00
Max pain reference50.00
- 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 48.62 to 56.16. Max pain at 50.00 sits inside that range, 4.6% below spot.
Spot
Max pain
48.6252.39 ± 3.7756.16
Confirmation level
A close beyond 56.16 or below 48.62 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 49/100
Pressure is 38/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure38 × 42%
+16.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement59 × 26%
+15.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility85 × 10%
+8.5
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 51.00; the largest put concentration is 51.00. The most active strike by current volume is 53.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
128
45.00-14.1%
5
107
46.00-12.2%
0
80
48.00-8.4%
3
50
50.00-4.6%
6384
526
51.00-2.7%
6489
289
52.00-0.7%
33
112
53.001.2%
126
23
54.003.1%
78
406
55.005.0%
92
46
56.006.9%
55
5
57.008.8%
77
15
58.0010.7%
203
28
59.0012.6%
417
32
60.0014.5%
101
8
61.0016.4%
119
29
66.0026.0%
45
0
75.0043.2%
3766
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+$3.9MDelta change / 1% move
Positive peak51.00+$1.3M
Negative peak45.00-$275,054
Nearest balance52.21Interpolated sign change
StrikeNegativePositiveNet / 1% move
44.00-16.0%
-$123,806
45.00-14.1%
-$275,054
46.00-12.2%
-$27,502
47.00-10.3%
-$227,414
47.50-9.3%
-$3,070
48.00-8.4%
-$142,121
48.50-7.4%
+$8,242
49.00-6.5%
-$44,607
49.50-5.5%
-$2,292
50.00-4.6%
+$1.1M
51.00-2.7%
+$1.3M
52.00-0.7%
-$56,733
53.001.2%
+$212,556
54.003.1%
+$43,664
55.005.0%
+$159,804
56.006.9%
+$239,265
57.008.8%
+$149,832
58.0010.7%
+$30,647
59.0012.6%
+$104,175
60.0014.5%
+$520,713
61.0016.4%
+$11,877
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.
0.86
7 Aug
4d
0.78
14 Aug
11d
0.75
21 Aug
18d
0.75
28 Aug
25d
0.74
4 Sep
32d
0.71
11 Sep
39d
0.70
18 Sep
46d
0.69
16 Oct
74d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
42
43
44
44
45
46
46
47
48
49
49
50
51
52
54
55
56
58
59
61
62
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
1 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing100%
Average expiry move1.6%
30 Jul
Volatility · 47
1.6% through expiry
4.3% 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
- Complete available chain
- Market date
- 3 Aug 2026
- Calculation
- v2.0
- Contracts
- 1072 / 1072
- 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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $3.3M of estimated gross traded notional, puts · 91+ days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-38
1W price+1.6%
Call premium20%
Put premium80%
Notional split
C 20% / P 80%
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.
Puts · 91+ days · OTM
puts cluster with 2374 contracts traded, $1.5M estimated gross traded notional, and 46% of visible notional.
$1.5M
Puts · 8-21 days · OTM
puts cluster with 2504 contracts traded, $557,045 estimated gross traded notional, and 17% of visible notional.
$557,045
Puts · 22-45 days · OTM
puts cluster with 657 contracts traded, $206,168 estimated gross traded notional, and 6% of visible notional.
$206,168
Calls · 8-21 days · OTM
calls cluster with 1296 contracts traded, $178,211 estimated gross traded notional, and 5% of visible notional.
$178,211
Calls · 91+ days · OTM
calls cluster with 207 contracts traded, $130,515 estimated gross traded notional, and 4% of visible notional.
$130,515
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
4 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 4 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close52.39
1W+1.6%
RS26.1
Fair value+46.7%
Options pressure-38
Speculation41
Volatility85
Trend fit59
Today Versus Normal
Stored-options context
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:06
Volatility
Pressure 43
Move 6.7%
30 Jul 10:04
Volatility
Pressure 60
Move 8.9%
31 Jul 10:02
Volatility
Pressure 25
Move 4.3%
2 Aug 17:38
Volatility
Pressure 15
Move 8.4%
2 Aug 18:35
Volatility
Pressure 17
Move 8.4%
4 Aug 10:01
Volatility
Pressure -38
Move 7.2%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 0
Puts · V 1 · OI 0
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike37.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike37.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike38.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike38.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike39.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike39.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts138
Avg IV0.86
Put-call0.46
Expiry14 Aug 2026
Contracts156
Avg IV0.78
Put-call0.06
Expiry21 Aug 2026
Contracts142
Avg IV0.75
Put-call7.07
Expiry28 Aug 2026
Contracts104
Avg IV0.75
Put-call0.54
Expiry4 Sep 2026
Contracts86
Avg IV0.74
Put-call1.05
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV0.83
Put IV0.89
Skew0.06
14 Aug 2026Balanced skew
Call IV0.77
Put IV0.81
Skew0.05
21 Aug 2026Balanced skew
Call IV0.73
Put IV0.78
Skew0.05
28 Aug 2026Put IV premium
Call IV0.73
Put IV0.80
Skew0.07
4 Sep 2026Put IV premium
Call IV0.68
Put IV0.78
Skew0.10
Contract Tape
Most active contracts
ContractSTM270115P00047000
SidePut
Expiry15 Jan 2027
Strike47.00
Volume2130
OI3542
IV0.69
ContractSTM260821P00050000
SidePut
Expiry21 Aug 2026
Strike50.00
Volume2107
OI1115
IV0.77
ContractSTM260814C00056000
SideCall
Expiry14 Aug 2026
Strike56.00
Volume857
OI1103
IV0.75
ContractSTM260918P00050000
SidePut
Expiry18 Sep 2026
Strike50.00
Volume399
OI424
IV0.71
ContractSTM260918P00045000
SidePut
Expiry18 Sep 2026
Strike45.00
Volume210
OI687
IV0.72
ContractSTM261016P00050000
SidePut
Expiry16 Oct 2026
Strike50.00
Volume120
OI1749
IV0.70
ContractSTM260807C00053000
SideCall
Expiry7 Aug 2026
Strike53.00
Volume113
OI126
IV0.85
ContractSTM260918C00065000
SideCall
Expiry18 Sep 2026
Strike65.00
Volume93
OI376
IV0.68
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
STMicroelectronics NV ADR (STM) drops 13.2% as four-week chip pullback deepens22 Jul 2026 13:59
STMicroelectronics NV ADR (STM) turns lower after strong 12-week run1 Jul 2026 04:09
STMicroelectronics NV ADR (STM) weekly tape stays firm with Relative Strength at 104.425 Jun 2026 08:45
STMicroelectronics NV ADR (STM) holds a 140.9% 12-week semiconductor advance23 Jun 2026 20:30
STMicroelectronics NV ADR (STM) reaches 151.2% 12-week gain in semiconductors19 Jun 2026 02:52
STMicroelectronics NV ADR (STM) keeps semiconductor momentum on the weekly tape18 Jun 2026 03:37
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.