Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
HALO options intelligence
Halozyme Therapeutics Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
50
Market data through 31 Jul 2026
Checked 2 Aug 2026 01:26 · complete available chain
Call-side pressure
Bullish pressure
HALO currently carries bullish options pressure with a 50/100 conviction score. The nearest-chain expected move is 8.8%, with volume/open-interest participation at 0.01.
Expected move
8.8%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.08
Call-side skew
Trend fit
2
Options are not fully confirming trend
Weekly backdrop
+0.7%
RS 7.7
Expected move
8.8%
Put-call volume
0.08
Volume / OI
0.01
Reference IV
0.44
Max pain
65.00
Underlying
82.54
Nearest expiry
21 Aug 2026
Contracts
134
Research Brief
HALO has a bullish chain read with 50/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 75.31–89.77; The largest call open-interest concentration is 80.00; the largest put concentration is 70.00. The most active strike by current volume is 90.00.
Priced range75.31–89.77
Call concentration80.00
Put concentration70.00
Max pain reference65.00
- 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.
- 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 75.31 to 89.77. Max pain at 65.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
75.3182.54 ± 7.2389.77
Confirmation level
A close beyond 89.77 or below 75.31 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 50/100
Pressure is 91/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure91 × 42%
+38.4
How strongly activity leans toward calls or puts.
Participation20 × 22%
+4.4
Volume relative to existing open interest and contract-level activity.
Trend agreement2 × 26%
+0.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility66 × 10%
+6.6
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 80.00; the largest put concentration is 70.00. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
35.00-57.6%
0
0
40.00-51.5%
0
0
45.00-45.5%
0
0
50.00-39.4%
0
0
55.00-33.4%
0
10
60.00-27.3%
0
15
65.00-21.3%
290
148
70.00-15.2%
52
72
75.00-9.1%
29
21
80.00-3.1%
302
4
85.003.0%
191
0
90.009.0%
191
0
95.0015.1%
3
0
100.0021.2%
9
0
105.0027.2%
15
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.
0.44
21 Aug
21d
0.32
18 Sep
49d
0.37
18 Dec
140d
0.38
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
70
75
80
85
90
95
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 134 / 134
- 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.
Call-side pressure is building before a meaningful weekly price response.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $58120 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+91
1W price+0.7%
Call premium99%
Put premium1%
Notional split
C 99% / P 1%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
2/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 2 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 · 91+ days · ITM
calls cluster with 32 contracts traded, $44545 estimated gross traded notional, and 77% of visible notional.
$44545
Calls · 46-90 days · ITM
calls cluster with 11 contracts traded, $11025 estimated gross traded notional, and 19% of visible notional.
$11025
Calls · 8-21 days · OTM
calls cluster with 13 contracts traded, $1838 estimated gross traded notional, and 3% of visible notional.
$1838
Puts · 46-90 days · OTM
puts cluster with 2 contracts traded, $222 estimated gross traded notional, and 0% of visible notional.
$222
Calls · 46-90 days · OTM
calls cluster with 2 contracts traded, $220 estimated gross traded notional, and 0% of visible notional.
$220
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.
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
Close82.54
1W+0.7%
RS7.7
Fair value+47.7%
Options pressure91
Speculation20
Volatility66
Trend fit2
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 10:31
Bullish
Pressure 32
Move 9.8%
30 Jul 10:25
Bullish
Pressure 96
Move 9.0%
31 Jul 10:21
Volatility
Pressure 87
Move 11.0%
2 Aug 00:26
Bullish
Pressure 91
Move 8.8%
Strike Map
Where activity is clustering
Strike35.00
Calls · V 0 · OI 0
Puts · V 2 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike65.00
Calls · V 0 · OI 290
Puts · V 0 · OI 15
Strike70.00
Calls · V 0 · OI 52
Puts · V 0 · OI 148
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts30
Avg IV0.44
Put-call0.15
Expiry18 Sep 2026
Contracts34
Avg IV0.32
Put-call0.15
Expiry18 Dec 2026
Contracts36
Avg IV0.37
Put-call0.04
Expiry19 Mar 2027
Contracts34
Avg IV0.38
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.46
Put IV0.48
Skew0.02
18 Sep 2026Put IV premium
Call IV0.29
Put IV0.39
Skew0.10
18 Dec 2026Balanced skew
Call IV0.38
Put IV0.39
Skew0.01
19 Mar 2027Balanced skew
Call IV0.36
Put IV0.40
Skew0.04
Contract Tape
Most active contracts
ContractHALO261218C00080000
SideCall
Expiry18 Dec 2026
Strike80.00
Volume20
OI402
IV0.36
ContractHALO260821C00090000
SideCall
Expiry21 Aug 2026
Strike90.00
Volume11
OI191
IV0.46
ContractHALO260918C00075000
SideCall
Expiry18 Sep 2026
Strike75.00
Volume9
OI404
IV0.40
ContractHALO270319C00070000
SideCall
Expiry19 Mar 2027
Strike70.00
Volume5
OI2
IV0.39
ContractHALO261218C00060000
SideCall
Expiry18 Dec 2026
Strike60.00
Volume4
OI95
IV0.40
ContractHALO260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume2
OI364
IV0.29
ContractHALO261218C00050000
SideCall
Expiry18 Dec 2026
Strike50.00
Volume2
OI300
IV0.44
ContractHALO260821C00085000
SideCall
Expiry21 Aug 2026
Strike85.00
Volume2
OI191
IV0.43
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.