Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
TTWO options intelligence
Take-Two Interactive Software Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 31 Jul 2026
Checked 2 Aug 2026 05:55 · complete available chain
Volatility expansion watch
Volatility pressure
TTWO currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 9.2%, with volume/open-interest participation at 0.06.
Expected move
9.2%
Wider near-term move priced
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
0.57
Call-side skew
Trend fit
54
Options are not fully confirming trend
Weekly backdrop
+4.9%
RS -3.9
Expected move
9.2%
Put-call volume
0.57
Volume / OI
0.06
Reference IV
0.83
Max pain
220.00
Underlying
242.92
Nearest expiry
7 Aug 2026
Contracts
1206
Research Brief
TTWO has a volatility chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 220.62–265.22; The largest call open-interest concentration is 220.00; the largest put concentration is 160.00. The most active strike by current volume is 230.00.
Priced range220.62–265.22
Call concentration220.00
Put concentration160.00
Max pain reference220.00
- 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 220.62 to 265.22. Max pain at 220.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
220.62242.92 ± 22.30265.22
Confirmation level
A close beyond 265.22 or below 220.62 at the 7 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 47/100
Pressure is 34/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure34 × 42%
+14.5
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement54 × 26%
+14.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility93 × 10%
+9.3
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 220.00; the largest put concentration is 160.00. The most active strike by current volume is 230.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
410
160.00-34.1%
1
236
165.00-32.1%
0
200
175.00-28.0%
1
26
200.00-17.7%
1
175
210.00-13.6%
101
54
215.00-11.5%
101
89
220.00-9.4%
1351
40
230.00-5.3%
8
8
232.50-4.3%
58
106
235.00-3.3%
62
54
240.00-1.2%
1119
23
245.000.9%
122
42
250.002.9%
554
0
260.007.0%
129
1
265.009.1%
124
0
275.0013.2%
254
3
285.0017.3%
516
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.
0.83
7 Aug
7d
0.67
14 Aug
14d
0.60
21 Aug
21d
0.56
28 Aug
28d
0.53
4 Sep
35d
0.50
11 Sep
42d
0.50
18 Sep
49d
0.51
20 Nov
112d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
195
200
205
210
215
220
223
228
233
238
243
248
253
258
263
265
270
275
280
285
290
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
- 1206 / 1206
- 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: $6.3M 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+34
1W price+4.9%
Call premium73%
Put premium27%
Notional split
C 73% / P 27%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
54/100
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 6473 contracts traded, $1.7M estimated gross traded notional, and 27% of visible notional.
$1.7M
Calls · 91+ days · OTM
calls cluster with 973 contracts traded, $1.7M estimated gross traded notional, and 27% of visible notional.
$1.7M
Puts · 0-7 days · OTM
puts cluster with 1126 contracts traded, $436182 estimated gross traded notional, and 7% of visible notional.
$436182
Calls · 46-90 days · OTM
calls cluster with 296 contracts traded, $321880 estimated gross traded notional, and 5% of visible notional.
$321880
Puts · 91+ days · ITM
puts cluster with 75 contracts traded, $307315 estimated gross traded notional, and 5% of visible notional.
$307315
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.
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
Close242.92
1W+4.9%
RS-3.9
Fair value+26.4%
Options pressure34
Speculation41
Volatility93
Trend fit54
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 10:11
Bullish
Pressure 47
Move 7.3%
30 Jul 10:06
Bullish
Pressure 32
Move 6.9%
31 Jul 13:32
Bullish
Pressure 93
Move 6.5%
31 Jul 14:50
Bearish
Pressure -48
Move 2.8%
31 Jul 15:42
Mixed
Pressure -3
Move 3.3%
31 Jul 15:58
Mixed
Pressure -3
Move 2.5%
31 Jul 17:34
Mixed
Pressure -4
Move 3.1%
31 Jul 18:02
Mixed
Pressure -4
Move 3.8%
Strike Map
Where activity is clustering
Strike120.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike125.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike130.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike135.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike140.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike145.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike150.00
Calls · V 0 · OI 1
Puts · V 20 · OI 1
Strike155.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts146
Avg IV0.83
Put-call3.99
Expiry14 Aug 2026
Contracts144
Avg IV0.67
Put-call1.20
Expiry21 Aug 2026
Contracts116
Avg IV0.60
Put-call0.43
Expiry28 Aug 2026
Contracts82
Avg IV0.56
Put-call0.83
Expiry4 Sep 2026
Contracts82
Avg IV0.53
Put-call1.00
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.79
Put IV0.81
Skew0.02
14 Aug 2026Balanced skew
Call IV0.67
Put IV0.67
Skew-
21 Aug 2026Balanced skew
Call IV0.58
Put IV0.59
Skew0.01
28 Aug 2026Balanced skew
Call IV0.55
Put IV0.55
Skew-
4 Sep 2026Balanced skew
Call IV0.53
Put IV0.54
Skew0.01
Contract Tape
Most active contracts
ContractTTWO260821C00290000
SideCall
Expiry21 Aug 2026
Strike290.00
Volume6185
OI8641
IV0.64
ContractTTWO260821P00130000
SidePut
Expiry21 Aug 2026
Strike130.00
Volume2577
OI74
IV0.84
ContractTTWO260807P00230000
SidePut
Expiry7 Aug 2026
Strike230.00
Volume523
OI40
IV0.81
ContractTTWO270115C00320000
SideCall
Expiry15 Jan 2027
Strike320.00
Volume306
OI7342
IV0.47
ContractTTWO260807P00200000
SidePut
Expiry7 Aug 2026
Strike200.00
Volume256
OI26
IV0.95
ContractTTWO261218C00260000
SideCall
Expiry18 Dec 2026
Strike260.00
Volume167
OI800
IV0.48
ContractTTWO270115P00200000
SidePut
Expiry15 Jan 2027
Strike200.00
Volume150
OI204
IV0.50
ContractTTWO260821P00230000
SidePut
Expiry21 Aug 2026
Strike230.00
Volume135
OI708
IV0.59
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.