Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
IRTC options intelligence
iRhythm Technologies Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 31 Jul 2026
Checked 2 Aug 2026 00:30 · complete available chain
Volatility expansion watch
Volatility pressure
IRTC currently carries volatility options pressure with a 52/100 conviction score. The nearest-chain expected move is 12.6%, with volume/open-interest participation at 0.08.
Expected move
12.6%
Wider near-term move priced
Activity / OI
0.08
Current volume is quieter versus prior open interest
Put-call
0.00
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+7.3%
RS -27.9
Expected move
12.6%
Put-call volume
-
Volume / OI
0.08
Reference IV
0.66
Max pain
115.00
Underlying
117.17
Nearest expiry
21 Aug 2026
Contracts
476
Research Brief
IRTC has a volatility chain read with 52/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 102.37–131.97; The largest call open-interest concentration is 140.00; the largest put concentration is 90.00. The most active strike by current volume is 140.00.
Priced range102.37–131.97
Call concentration140.00
Put concentration90.00
Max pain reference115.00
- 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 102.37 to 131.97. Max pain at 115.00 sits inside that range, 1.9% below spot.
Spot
Max pain
102.37117.17 ± 14.80131.97
Confirmation level
A close beyond 131.97 or below 102.37 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 53/100
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.
Participation9 × 22%
+1.9
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.
Volatility86 × 10%
+8.6
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 140.00; the largest put concentration is 90.00. The most active strike by current volume is 140.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
3
75.00-36.0%
0
11
80.00-31.7%
0
82
90.00-23.2%
0
50
95.00-18.9%
0
71
100.00-14.7%
0
73
105.00-10.4%
7
11
110.00-6.1%
4
25
115.00-1.9%
60
1
120.002.4%
115
4
125.006.7%
92
0
130.0010.9%
95
1
135.0015.2%
6
0
140.0019.5%
340
1
145.0023.8%
3
0
150.0028.0%
12
0
170.0045.1%
5
0
180.0053.6%
20
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.
0.66
21 Aug
21d
0.57
18 Sep
49d
0.56
20 Nov
112d
0.55
18 Dec
140d
0.55
15 Jan
168d
0.55
19 Feb
203d
0.55
19 Mar
231d
0.53
17 Dec
504d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
95
100
105
110
115
120
125
130
135
140
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
- 476 / 476
- 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 are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $19820 of estimated gross traded notional, calls · 8-21 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+100
1W price+7.3%
Call premium100%
Put premium0%
Notional split
C 100% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.08
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 4 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 · 8-21 days · OTM
calls cluster with 178 contracts traded, $19820 estimated gross traded notional, and 100% of visible notional.
$19820
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.
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
Close117.17
1W+7.3%
RS-27.9
Fair value+0.4%
Options pressure100
Speculation9
Volatility86
Trend fit0
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 76
Move 15.7%
30 Jul 10:41
Volatility
Pressure 96
Move 18.1%
30 Jul 15:22
Bullish
Pressure 30
Move 16.4%
30 Jul 19:51
Bullish
Pressure 26
Move 16.1%
31 Jul 11:05
Volatility
Pressure 100
Move 16.1%
1 Aug 23:30
Volatility
Pressure 100
Move 12.6%
Strike Map
Where activity is clustering
Strike60.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 82
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 50
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts72
Avg IV0.66
Put-call-
Expiry18 Sep 2026
Contracts46
Avg IV0.57
Put-call-
Expiry20 Nov 2026
Contracts56
Avg IV0.56
Put-call-
Expiry18 Dec 2026
Contracts74
Avg IV0.55
Put-call-
Expiry15 Jan 2027
Contracts68
Avg IV0.55
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.63
Put IV0.72
Skew0.09
18 Sep 2026Put IV premium
Call IV0.53
Put IV0.62
Skew0.09
20 Nov 2026Put IV premium
Call IV0.51
Put IV0.59
Skew0.08
18 Dec 2026Put IV premium
Call IV0.51
Put IV0.58
Skew0.07
15 Jan 2027Put IV premium
Call IV0.50
Put IV0.57
Skew0.07
Contract Tape
Most active contracts
ContractIRTC260821C00140000
SideCall
Expiry21 Aug 2026
Strike140.00
Volume166
OI340
IV0.62
ContractIRTC260821C00150000
SideCall
Expiry21 Aug 2026
Strike150.00
Volume10
OI12
IV0.72
ContractIRTC260821C00135000
SideCall
Expiry21 Aug 2026
Strike135.00
Volume2
OI6
IV0.63
ContractIRTC260918C00130000
SideCall
Expiry18 Sep 2026
Strike130.00
Volume-
OI185
IV0.55
ContractIRTC270115P00135000
SidePut
Expiry15 Jan 2027
Strike135.00
Volume-
OI160
IV0.52
ContractIRTC260821C00120000
SideCall
Expiry21 Aug 2026
Strike120.00
Volume-
OI115
IV0.66
ContractIRTC260821C00130000
SideCall
Expiry21 Aug 2026
Strike130.00
Volume-
OI95
IV0.63
ContractIRTC260821C00125000
SideCall
Expiry21 Aug 2026
Strike125.00
Volume-
OI92
IV0.68
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.