Ticker Options Intelligence

DERM options intelligence

Journey Medical Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 54 Market data through 31 Jul 2026 Checked 31 Jul 2026 15:59 · complete available chain

Volatility expansion watch

Volatility pressure

DERM currently carries volatility options pressure with a 54/100 conviction score. The nearest-chain expected move is 21.0%, with volume/open-interest participation at 0.05.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Volatility

Volatility expansion watch

Expected move 21.0%

Wider near-term move priced

Activity / OI 0.05

Current volume is quieter versus prior open interest

Put-call 0.03

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop +2.9%

RS -17.7

Expected move 21.0%
Put-call volume 0.03
Volume / OI 0.05
Reference IV 3.44
Max pain 2.50
Underlying 6.19
Nearest expiry 21 Aug 2026
Contracts 15

Research Brief

DERM has a volatility chain read with 54/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 4.89–7.49; The largest call open-interest concentration is 10.00; the largest put concentration is 7.50. The most active strike by current volume is 2.50.

Priced range4.89–7.49
Call concentration10.00
Put concentration7.50
Max pain reference2.50
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 4.89 to 7.49. Max pain at 2.50 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
4.896.19 ± 1.307.49
Confirmation level

A close beyond 7.49 or below 4.89 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 54/100

Evidence alignment, not probability

Pressure is 100/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation13 × 22%
+2.8

Volume relative to existing open interest and contract-level activity.

Trend agreement0 × 26%
+0.0

How closely the chain read agrees with the underlying trend backdrop.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score54.4Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 10.00; the largest put concentration is 7.50. The most active strike by current volume is 2.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
1
2.50-59.6%
7
0
5.00-19.2%
0
3
7.5021.2%
4
2
10.0061.6%
1156
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

4.81× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

3.44 21 Aug 21d
2.15 18 Sep 49d
0.84 20 Nov 112d
0.72 19 Feb 203d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

There is not enough comparable OTM call and put volatility to classify the smile.

5
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A90/100
Retained chain100%
Implied volatility100%
Two-sided quotes93%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
15 / 15
  • 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

87/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $7562 of estimated gross traded notional, calls · 8-21 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+100
1W price+2.9%
Call premium94%
Put premium6%
Notional split C 94% / P 6% 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 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 11 Aug Matched earnings event is 9 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 8-21 days · ITM
Calls · 8-21 days · ITM calls cluster with 10 contracts traded, $3750 estimated gross traded notional, and 50% of visible notional.
$3750
Calls · 91+ days · OTM calls cluster with 54 contracts traded, $3015 estimated gross traded notional, and 40% of visible notional.
$3015
Puts · 8-21 days · ITM puts cluster with 1 contracts traded, $348 estimated gross traded notional, and 5% of visible notional.
$348
Calls · 91+ days · ITM calls cluster with 1 contracts traded, $250 estimated gross traded notional, and 3% of visible notional.
$250
Puts · 91+ days · ITM puts cluster with 1 contracts traded, $125 estimated gross traded notional, and 2% of visible notional.
$125

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

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

Sharemaestro weekly
Close6.37
1W+2.9%
RS-17.7
Fair value+12.5%
Options pressure100
Speculation13
Volatility96
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 21.0% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 3.44 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.03 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.05 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:42 Volatility
Pressure 100
Move 24.5%
30 Jul 11:20 Volatility
Pressure 100
Move 29.4%
30 Jul 14:58 Volatility
Pressure 100
Move 21.0%
30 Jul 16:13 Volatility
Pressure 100
Move 21.0%
31 Jul 02:30 Volatility
Pressure 100
Move 33.5%
31 Jul 03:30 Volatility
Pressure 100
Move 21.0%
31 Jul 14:59 Volatility
Pressure 100
Move 21.0%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 10 · OI 7
Puts · V 0 · OI 1
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.50
Calls · V 1 · OI 4
Puts · V 0 · OI 3
Strike10.00
Calls · V 5 · OI 1156
Puts · V 1 · OI 2

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts7
Avg IV3.44
Put-call0.06
Expiry18 Sep 2026
Contracts1
Avg IV2.15
Put-call-
Expiry20 Nov 2026
Contracts4
Avg IV0.84
Put-call-
Expiry19 Feb 2027
Contracts3
Avg IV0.72
Put-call0.02

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV1.10
Put IV-
Skew-1.10
18 Sep 2026Incomplete skew
Call IV-
Put IV-
Skew-
20 Nov 2026Put IV premium
Call IV0.73
Put IV1.20
Skew0.47
19 Feb 2027Incomplete skew
Call IV0.70
Put IV-
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractDERM260918C00005000
SideCall
Expiry18 Sep 2026
Strike5.00
Volume-
OI15
IV2.15
ContractDERM261120P00005000
SidePut
Expiry20 Nov 2026
Strike5.00
Volume-
OI6
IV1.20
ContractDERM260821P00007500
SidePut
Expiry21 Aug 2026
Strike7.50
Volume-
OI3
IV2.81
ContractDERM260821P00002500
SidePut
Expiry21 Aug 2026
Strike2.50
Volume-
OI1
IV-
ContractDERM261120C00002500
SideCall
Expiry20 Nov 2026
Strike2.50
Volume-
OI-
IV0.00
ContractDERM260821C00005000
SideCall
Expiry21 Aug 2026
Strike5.00
Volume-
OI-
IV0.00
ContractDERM270219C00010000
SideCall
Expiry19 Feb 2027
Strike10.00
Volume42
OI55
IV0.76
ContractDERM261120C00007500
SideCall
Expiry20 Nov 2026
Strike7.50
Volume10
OI64
IV0.73