Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
GMED options intelligence
Globus Medical options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
60
Market data through 31 Jul 2026
Checked 2 Aug 2026 17:59 · complete available chain
Volatility expansion watch
Volatility pressure
GMED currently carries volatility options pressure with a 60/100 conviction score. The nearest-chain expected move is 13.0%, with volume/open-interest participation at 0.09.
Expected move
13.0%
Wider near-term move priced
Activity / OI
0.09
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
+3.0%
RS -8.7
Expected move
13.0%
Put-call volume
0.00
Volume / OI
0.09
Reference IV
0.68
Max pain
77.50
Underlying
78.79
Nearest expiry
21 Aug 2026
Contracts
204
Research Brief
GMED has a volatility chain read with 60/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 68.54–89.04; The largest call open-interest concentration is 85.00; the largest put concentration is 90.00. The most active strike by current volume is 85.00.
Priced range68.54–89.04
Call concentration85.00
Put concentration90.00
Max pain reference77.50
- 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 68.54 to 89.04. Max pain at 77.50 sits inside that range, 1.6% below spot.
Spot
Max pain
68.5478.79 ± 10.2589.04
Confirmation level
A close beyond 89.04 or below 68.54 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 60/100
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.
Participation42 × 22%
+9.3
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.
Volatility88 × 10%
+8.8
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 85.00; the largest put concentration is 90.00. The most active strike by current volume is 85.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
50.00-36.5%
0
1
55.00-30.2%
0
4
65.00-17.5%
0
3
67.50-14.3%
0
30
70.00-11.2%
0
23
72.50-8.0%
2
15
75.00-4.8%
15
8
77.50-1.6%
121
6
80.001.5%
558
22
82.504.7%
128
2
85.007.9%
4477
0
87.5011.1%
23
64
90.0014.2%
103
3
95.0020.6%
17
0
100.0026.9%
2
0
110.0039.6%
1
0
115.0046.0%
3
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$1.1MDelta change / 1% move
Positive peak85.00+$916,455
Negative peak75.00-$29,626
Nearest balance76.56Interpolated sign change
StrikeNegativePositiveNet / 1% move
47.50-39.7%
+$20
50.00-36.5%
+$1,223
55.00-30.2%
+$512
60.00-23.8%
+$2,326
65.00-17.5%
-$1,921
67.50-14.3%
-$2,904
70.00-11.2%
-$10,170
72.50-8.0%
-$3,317
75.00-4.8%
-$29,626
77.50-1.6%
+$17,777
80.001.5%
+$104,372
82.504.7%
-$4,633
85.007.9%
+$916,455
87.5011.1%
+$14,221
90.0014.2%
+$62,874
92.5017.4%
+$1,995
95.0020.6%
+$30,763
97.5023.7%
+$2,197
100.0026.9%
+$22,039
105.0033.3%
+$794
110.0039.6%
+$550
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.68
21 Aug
21d
0.50
18 Sep
49d
0.48
18 Dec
140d
0.47
19 Mar
231d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
65
68
70
73
75
78
80
83
85
88
90
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.
Evidence Quality
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 204 / 204
- 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: $182,178 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+3.0%
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
0.09
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 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 · 8-21 days · OTM
calls cluster with 505 contracts traded, $117,038 estimated gross traded notional, and 64% of visible notional.
$117,038
Calls · 46-90 days · OTM
calls cluster with 265 contracts traded, $57,750 estimated gross traded notional, and 32% of visible notional.
$57,750
Calls · 8-21 days · ATM
calls cluster with 13 contracts traded, $7,055 estimated gross traded notional, and 4% of visible notional.
$7,055
Puts · 8-21 days · OTM
puts cluster with 1 contracts traded, $335 estimated gross traded notional, and 0% of visible notional.
$335
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
Close78.79
1W+3.0%
RS-8.7
Fair value+13.8%
Options pressure100
Speculation42
Volatility88
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 10:26
Volatility
Pressure 91
Move 13.5%
30 Jul 10:22
Volatility
Pressure 100
Move 13.6%
31 Jul 10:11
Bullish
Pressure 28
Move 11.7%
31 Jul 17:05
Mixed
Pressure 16
Move 12.5%
2 Aug 15:08
Volatility
Pressure 71
Move 13.0%
2 Aug 16:59
Volatility
Pressure 100
Move 13.0%
Strike Map
Where activity is clustering
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike67.50
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 30
Strike72.50
Calls · V 0 · OI 2
Puts · V 0 · OI 23
Strike75.00
Calls · V 0 · OI 15
Puts · V 1 · OI 15
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts38
Avg IV0.68
Put-call0.00
Expiry18 Sep 2026
Contracts58
Avg IV0.50
Put-call-
Expiry18 Dec 2026
Contracts60
Avg IV0.48
Put-call-
Expiry19 Mar 2027
Contracts48
Avg IV0.47
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.68
Put IV0.67
Skew-0.01
18 Sep 2026Balanced skew
Call IV0.52
Put IV0.51
Skew-0.01
18 Dec 2026Balanced skew
Call IV0.48
Put IV0.51
Skew0.03
19 Mar 2027Balanced skew
Call IV0.42
Put IV0.47
Skew0.05
Contract Tape
Most active contracts
ContractGMED260821C00085000
SideCall
Expiry21 Aug 2026
Strike85.00
Volume501
OI4477
IV0.61
ContractGMED260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume112
OI419
IV0.50
ContractGMED260918C00092500
SideCall
Expiry18 Sep 2026
Strike92.50
Volume112
OI21
IV0.52
ContractGMED260918C00085000
SideCall
Expiry18 Sep 2026
Strike85.00
Volume20
OI258
IV0.53
ContractGMED260918C00100000
SideCall
Expiry18 Sep 2026
Strike100.00
Volume20
OI226
IV0.60
ContractGMED260821C00077500
SideCall
Expiry21 Aug 2026
Strike77.50
Volume7
OI121
IV0.71
ContractGMED260821C00080000
SideCall
Expiry21 Aug 2026
Strike80.00
Volume6
OI558
IV0.69
ContractGMED260821C00090000
SideCall
Expiry21 Aug 2026
Strike90.00
Volume3
OI103
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.