Ticker Options Intelligence

BDX options intelligence

Becton Dickinson and Company options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 36 Market data through 31 Jul 2026 Checked 1 Aug 2026 15:33 · complete available chain

Call-side pressure

Bullish pressure

BDX currently carries bullish options pressure with a 36/100 conviction score. The nearest-chain expected move is 7.3%, with volume/open-interest participation at 0.13.

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

Call-side pressure

Expected move 7.3%

Wider near-term move priced

Activity / OI 0.13

Current volume is quieter versus prior open interest

Put-call 0.62

Call-side skew

Trend fit 48

Options are not fully confirming trend

Weekly backdrop +5.9%

RS -0.4

Expected move 7.3%
Put-call volume 0.62
Volume / OI 0.13
Reference IV 0.43
Max pain 160.00
Underlying 165.62
Nearest expiry 21 Aug 2026
Contracts 334

Research Brief

BDX has a bullish chain read with 36/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 153.52–177.72; The largest call open-interest concentration is 170.00; the largest put concentration is 150.00. The most active strike by current volume is 125.00.

Priced range153.52–177.72
Call concentration170.00
Put concentration150.00
Max pain reference160.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 153.52 to 177.72. Max pain at 160.00 sits inside that range, 3.4% below spot.

Spot Max pain
153.52165.62 ± 12.10177.72
Confirmation level

A close beyond 177.72 or below 153.52 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 36/100

Evidence alignment, not probability

Pressure is 29/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure29 × 42%
+12.2

How strongly activity leans toward calls or puts.

Participation24 × 22%
+5.2

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

Trend agreement48 × 26%
+12.6

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

Volatility60 × 10%
+6.0

The intensity of implied volatility and the priced move.

Reconstructed score35.9Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 170.00; the largest put concentration is 150.00. The most active strike by current volume is 125.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
3
100.00-39.6%
0
15
120.00-27.5%
0
60
125.00-24.5%
0
67
130.00-21.5%
2
78
135.00-18.5%
1
90
140.00-15.5%
2
459
145.00-12.5%
11
505
150.00-9.4%
96
69
155.00-6.4%
167
97
160.00-3.4%
748
147
165.00-0.4%
645
66
170.002.6%
777
0
175.005.7%
279
0
180.008.7%
469
0
185.0011.7%
282
0
190.0014.7%
38
0
195.0017.7%
6
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.87× front/back

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

0.43 21 Aug 21d
0.33 18 Sep 49d
0.34 18 Dec 140d
0.37 15 Jan 168d
0.36 19 Mar 231d
0.36 17 Jun 321d
0.23 21 Jan 539d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

135
140
145
150
155
160
165
170
175
180
185
190
195
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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
334 / 334
  • 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

72/100
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 Bullish flow confirms price

Options pressure and weekly price action are pointing in the same constructive direction.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $1.7M of estimated gross traded notional, puts · 91+ days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+29
1W price+5.9%
Call premium52%
Put premium48%
Notional split C 52% / P 48% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.13 Volume divided by open interest across the visible chain.
Trend fit 48/100 Agreement between options pressure and Sharemaestro market context.
Event window 6 Aug Matched earnings event is 5 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 Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 165 contracts traded, $457319 estimated gross traded notional, and 26% of visible notional.
$457319
Calls · 91+ days · ITM calls cluster with 69 contracts traded, $264675 estimated gross traded notional, and 15% of visible notional.
$264675
Calls · 46-90 days · OTM calls cluster with 698 contracts traded, $252560 estimated gross traded notional, and 15% of visible notional.
$252560
Calls · 91+ days · OTM calls cluster with 213 contracts traded, $193562 estimated gross traded notional, and 11% of visible notional.
$193562
Puts · 91+ days · ATM puts cluster with 60 contracts traded, $123530 estimated gross traded notional, and 7% of visible notional.
$123530

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.

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
Close165.62
1W+5.9%
RS-0.4
Fair value-0.2%
Options pressure29
Speculation24
Volatility60
Trend fit48

Today Versus Normal

Stored-options context

View history
Expected move 7.3% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.43 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.62 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.13 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 10:11 Mixed
Pressure 11
Move 10.2%
30 Jul 10:06 Bullish
Pressure 89
Move 10.7%
30 Jul 17:23 Mixed
Pressure -1
Move 9.6%
31 Jul 08:50 Bullish
Pressure 24
Move 10.2%
1 Aug 07:22 Bullish
Pressure 63
Move 9.8%
1 Aug 14:33 Bullish
Pressure 29
Move 7.3%

Strike Map

Where activity is clustering

Full strike map
Strike100.00
Calls · V 0 · OI 0
Puts · V 1 · OI 3
Strike115.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 0
Puts · V 1 · OI 15
Strike125.00
Calls · V 0 · OI 0
Puts · V 27 · OI 60
Strike130.00
Calls · V 0 · OI 2
Puts · V 25 · OI 67
Strike135.00
Calls · V 1 · OI 1
Puts · V 1 · OI 78
Strike140.00
Calls · V 0 · OI 2
Puts · V 2 · OI 90
Strike145.00
Calls · V 10 · OI 11
Puts · V 2 · OI 459

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts27
Avg IV0.43
Put-call1.08
Expiry18 Sep 2026
Contracts72
Avg IV0.33
Put-call0.23
Expiry18 Dec 2026
Contracts79
Avg IV0.34
Put-call1.03
Expiry15 Jan 2027
Contracts55
Avg IV0.37
Put-call1.09
Expiry19 Mar 2027
Contracts28
Avg IV0.36
Put-call0.58

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV0.43
Put IV0.42
Skew-0.01
18 Sep 2026Balanced skew
Call IV0.37
Put IV0.35
Skew-0.01
18 Dec 2026Call IV premium
Call IV0.34
Put IV0.03
Skew-0.31
15 Jan 2027Balanced skew
Call IV0.36
Put IV0.36
Skew-0.01
19 Mar 2027Balanced skew
Call IV0.37
Put IV0.35
Skew-0.02

Contract Tape

Most active contracts

Full contract tape
ContractBDX270115P00210000
SidePut
Expiry15 Jan 2027
Strike210.00
Volume-
OI81
IV0.00
ContractBDX280121C00270000
SideCall
Expiry21 Jan 2028
Strike270.00
Volume-
OI50
IV0.51
ContractBDX270319P00155000
SidePut
Expiry19 Mar 2027
Strike155.00
Volume-
OI17
IV0.35
ContractBDX260918C00110000
SideCall
Expiry18 Sep 2026
Strike110.00
Volume-
OI8
IV0.00
ContractBDX260918C00135000
SideCall
Expiry18 Sep 2026
Strike135.00
Volume-
OI6
IV1.74
ContractBDX270115P00175000
SidePut
Expiry15 Jan 2027
Strike175.00
Volume-
OI5
IV0.47
ContractBDX270617P00100000
SidePut
Expiry17 Jun 2027
Strike100.00
Volume-
OI3
IV0.49
ContractBDX280121P00230000
SidePut
Expiry21 Jan 2028
Strike230.00
Volume-
OI2
IV0.00