Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
RNA options intelligence
Atrium Therapeutics, Inc. Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 31 Jul 2026
Checked 2 Aug 2026 03:13 · complete available chain
Put-side pressure
Bearish pressure
RNA currently carries bearish options pressure with a 49/100 conviction score. The nearest-chain expected move is 373.1%, with volume/open-interest participation at 0.09.
Expected move
373.1%
Wider near-term move priced
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
4.09
Put-side skew
Trend fit
27
Options are not fully confirming trend
Weekly backdrop
-1.2%
Sharemaestro weekly context
Expected move
373.1%
Put-call volume
4.09
Volume / OI
0.09
Reference IV
0.00
Max pain
50.00
Underlying
11.35
Nearest expiry
18 Sep 2026
Contracts
84
Research Brief
RNA has a bearish 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 0.00–53.70; The largest call open-interest concentration is 50.00; the largest put concentration is 45.00. The most active strike by current volume is 45.00.
Priced range0.00–53.70
Call concentration50.00
Put concentration45.00
Max pain reference50.00
- Price remains weak while put-side concentration persists.
- Price recovers while put pressure fades or reverses toward calls.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 0.00 to 53.70. Max pain at 50.00 sits inside that range, 340.5% above spot. The theoretical downside extends below zero, so the displayed lower bound is floored at 0.00.
Spot
Max pain
0.0011.35 ± 42.3553.70
Confirmation level
A close beyond 53.70 or below 0.00 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 49/100
Pressure is 73/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure73 × 42%
+30.6
How strongly activity leans toward calls or puts.
Participation34 × 22%
+7.5
Volume relative to existing open interest and contract-level activity.
Trend agreement27 × 26%
+7.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility40 × 10%
+4.0
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 50.00; the largest put concentration is 45.00. The most active strike by current volume is 45.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
20.0076.2%
1
40
25.00120.3%
0
15
30.00164.3%
0
38
35.00208.4%
0
142
40.00252.4%
0
572
45.00296.5%
111
22
50.00340.5%
2106
24
55.00384.6%
538
34
60.00428.6%
213
346
65.00472.7%
60
492
70.00516.7%
1112
3
75.00560.8%
4
0
80.00604.8%
2
0
95.00737.0%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.00
18 Sep
49d
0.00
18 Dec
140d
0.00
15 Jan
168d
0.03
21 Jan
539d
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
Comparable strike volatility is unavailable.
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 18 Sep 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
- 84 / 84
- 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 both cautionary.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $620302 of estimated gross traded notional, calls · 46-90 days · otm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-73
1W price-1.2%
Call premium97%
Put premium3%
Notional split
C 97% / P 3%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.09
Volume divided by open interest across the visible chain.
Trend fit
27/100
Agreement between options pressure and Sharemaestro market context.
Event window
13 Aug
Matched earnings event is 11 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 · 46-90 days · OTM
calls cluster with 142 contracts traded, $374519 estimated gross traded notional, and 60% of visible notional.
$374519
Calls · 91+ days · OTM
calls cluster with 227 contracts traded, $226468 estimated gross traded notional, and 37% of visible notional.
$226468
Puts · 91+ days · ITM
puts cluster with 1340 contracts traded, $17205 estimated gross traded notional, and 3% of visible notional.
$17205
Puts · 46-90 days · ITM
puts cluster with 171 contracts traded, $2110 estimated gross traded notional, and 0% of visible notional.
$2110
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.
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
Close11.35
1W-1.2%
RS-
Fair value-13.2%
Options pressure-73
Speculation34
Volatility40
Trend fit27
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
31 Jul 10:53
Bearish
Pressure -73
Move 368.6%
2 Aug 02:13
Bearish
Pressure -73
Move 373.1%
Strike Map
Where activity is clustering
Strike20.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 0
Puts · V 5 · OI 40
Strike30.00
Calls · V 3 · OI 0
Puts · V 5 · OI 15
Strike35.00
Calls · V 0 · OI 0
Puts · V 19 · OI 38
Strike40.00
Calls · V 0 · OI 0
Puts · V 12 · OI 142
Strike45.00
Calls · V 110 · OI 111
Puts · V 1 · OI 572
Strike50.00
Calls · V 21 · OI 2106
Puts · V 10 · OI 22
Strike55.00
Calls · V 1 · OI 538
Puts · V 10 · OI 24
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts22
Avg IV0.00
Put-call1.20
Expiry18 Dec 2026
Contracts19
Avg IV0.00
Put-call0.83
Expiry15 Jan 2027
Contracts20
Avg IV0.00
Put-call11.97
Expiry21 Jan 2028
Contracts23
Avg IV0.03
Put-call5.58
Skew
Call/put IV balance
18 Sep 2026Incomplete skew
Call IV-
Put IV-
Skew-
18 Dec 2026Incomplete skew
Call IV-
Put IV-
Skew-
15 Jan 2027Incomplete skew
Call IV-
Put IV-
Skew-
21 Jan 2028Incomplete skew
Call IV-
Put IV-
Skew-
Contract Tape
Most active contracts
ContractRNA270115P00038000
SidePut
Expiry15 Jan 2027
Strike38.00
Volume-
OI40
IV0.00
ContractRNA261218P00035000
SidePut
Expiry18 Dec 2026
Strike35.00
Volume-
OI20
IV0.00
ContractRNA280121P00028000
SidePut
Expiry21 Jan 2028
Strike28.00
Volume-
OI14
IV0.00
ContractRNA280121P00038000
SidePut
Expiry21 Jan 2028
Strike38.00
Volume-
OI11
IV0.00
ContractRNA270115P00033000
SidePut
Expiry15 Jan 2027
Strike33.00
Volume-
OI10
IV0.00
ContractRNA280121C00047000
SideCall
Expiry21 Jan 2028
Strike47.00
Volume-
OI9
IV-
ContractRNA270115P00050000
SidePut
Expiry15 Jan 2027
Strike50.00
Volume-
OI5
IV0.00
ContractRNA270115P00047000
SidePut
Expiry15 Jan 2027
Strike47.00
Volume-
OI5
IV0.00
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.