Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
ANF options intelligence
Abercrombie & Fitch Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 31 Jul 2026
Checked 1 Aug 2026 04:46 · complete available chain
Volatility expansion watch
Volatility pressure
ANF currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 4.2%, with volume/open-interest participation at 0.07.
Expected move
4.2%
Near-term move context
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
0.22
Call-side skew
Trend fit
9
Options are not fully confirming trend
Weekly backdrop
+6.1%
RS 0.2
Expected move
4.2%
Put-call volume
0.22
Volume / OI
0.07
Reference IV
0.79
Max pain
93.00
Underlying
93.81
Nearest expiry
31 Jul 2026
Contracts
1116
Research Brief
ANF has a volatility chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 89.92–97.70; The largest call open-interest concentration is 99.00; the largest put concentration is 88.00. The most active strike by current volume is 82.00.
Priced range89.92–97.70
Call concentration99.00
Put concentration88.00
Max pain reference93.00
- 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 89.92 to 97.70. Max pain at 93.00 sits inside that range, 0.9% below spot.
Spot
Max pain
89.9293.81 ± 3.8997.70
Confirmation level
A close beyond 97.70 or below 89.92 at the 31 Jul 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 47/100
Pressure is 66/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure66 × 42%
+27.8
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement9 × 26%
+2.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility72 × 10%
+7.2
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 99.00; the largest put concentration is 88.00. The most active strike by current volume is 82.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
9
82.00-12.6%
34
66
83.00-11.5%
73
45
84.00-10.5%
106
44
86.00-8.3%
90
1112
88.00-6.2%
33
98
90.00-4.1%
214
164
91.00-3.0%
13
573
95.001.3%
40
18
96.002.3%
169
22
98.004.5%
310
59
99.005.5%
536
84
100.006.6%
114
121
102.008.7%
137
1
105.0011.9%
155
7
107.0014.1%
286
0
110.0017.3%
371
0
115.0022.6%
217
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.
0.79
31 Jul
0d
0.61
7 Aug
7d
0.53
14 Aug
14d
0.52
21 Aug
21d
0.74
28 Aug
28d
0.70
4 Sep
35d
0.67
11 Sep
42d
0.66
18 Sep
49d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
76
78
80
81
83
85
87
89
90
92
94
96
98
99
101
103
105
107
108
110
112
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
- 1116 / 1116
- 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: $2.2M of estimated gross traded notional, calls · 0-7 days · itm, 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+66
1W price+6.1%
Call premium90%
Put premium10%
Notional split
C 90% / P 10%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.07
Volume divided by open interest across the visible chain.
Trend fit
9/100
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.
Calls · 0-7 days · ITM
calls cluster with 1473 contracts traded, $1.7M estimated gross traded notional, and 76% of visible notional.
$1.7M
Calls · 0-7 days · ATM
calls cluster with 228 contracts traded, $165785 estimated gross traded notional, and 8% of visible notional.
$165785
Puts · 46-90 days · ITM
puts cluster with 158 contracts traded, $150890 estimated gross traded notional, and 7% of visible notional.
$150890
Calls · 91+ days · OTM
calls cluster with 44 contracts traded, $42615 estimated gross traded notional, and 2% of visible notional.
$42615
Puts · 91+ days · OTM
puts cluster with 39 contracts traded, $27552 estimated gross traded notional, and 1% of visible notional.
$27552
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
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
Close99.54
1W+6.1%
RS0.2
Fair value-4.4%
Options pressure66
Speculation42
Volatility72
Trend fit9
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 10:50
Bullish
Pressure 29
Move 10.7%
30 Jul 08:55
Bullish
Pressure 56
Move 9.2%
31 Jul 06:44
Bullish
Pressure 52
Move 6.7%
31 Jul 15:30
Bullish
Pressure 36
Move 6.2%
31 Jul 17:12
Volatility
Pressure 49
Move 6.7%
31 Jul 18:01
Bullish
Pressure 45
Move 6.7%
31 Jul 19:02
Bullish
Pressure 45
Move 6.7%
31 Jul 20:22
Bullish
Pressure 45
Move 6.6%
Strike Map
Where activity is clustering
Strike45.00
Calls · V 0 · OI 1
Puts · V 1 · OI 2
Strike50.00
Calls · V 0 · OI 2
Puts · V 0 · OI 5
Strike55.00
Calls · V 0 · OI 135
Puts · V 0 · OI 1
Strike60.00
Calls · V 0 · OI 140
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 5 · OI 5
Strike70.00
Calls · V 0 · OI 0
Puts · V 7 · OI 23
Strike74.00
Calls · V 0 · OI 0
Puts · V 6 · OI 44
Strike75.00
Calls · V 0 · OI 1
Puts · V 0 · OI 9
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts114
Avg IV0.79
Put-call0.10
Expiry7 Aug 2026
Contracts102
Avg IV0.61
Put-call0.07
Expiry14 Aug 2026
Contracts112
Avg IV0.53
Put-call0.77
Expiry21 Aug 2026
Contracts110
Avg IV0.52
Put-call0.39
Expiry28 Aug 2026
Contracts102
Avg IV0.74
Put-call0.53
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.06
Put IV0.56
Skew0.50
7 Aug 2026Balanced skew
Call IV0.66
Put IV0.67
Skew0.01
14 Aug 2026Put IV premium
Call IV0.48
Put IV0.57
Skew0.09
21 Aug 2026Balanced skew
Call IV0.50
Put IV0.48
Skew-0.02
28 Aug 2026Balanced skew
Call IV0.70
Put IV0.75
Skew0.05
Contract Tape
Most active contracts
ContractANF260807C00091000
SideCall
Expiry7 Aug 2026
Strike91.00
Volume606
OI116
IV0.58
ContractANF260807C00090000
SideCall
Expiry7 Aug 2026
Strike90.00
Volume452
OI17
IV0.59
ContractANF260918P00100000
SidePut
Expiry18 Sep 2026
Strike100.00
Volume158
OI153
IV0.66
ContractANF260807C00092000
SideCall
Expiry7 Aug 2026
Strike92.00
Volume156
OI113
IV0.56
ContractANF260731C00082000
SideCall
Expiry31 Jul 2026
Strike82.00
Volume132
OI34
IV1.75
ContractANF260821C00115000
SideCall
Expiry21 Aug 2026
Strike115.00
Volume102
OI202
IV0.51
ContractANF260731C00083000
SideCall
Expiry31 Jul 2026
Strike83.00
Volume90
OI73
IV2.43
ContractANF260731C00081000
SideCall
Expiry31 Jul 2026
Strike81.00
Volume46
OI2
IV1.85
Research Graph
Related research and context
Sharemaestro research
Related News
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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.