Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
ECG options intelligence
Everus Construction Group Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 31 Jul 2026
Checked 2 Aug 2026 20:31 · complete available chain
Volatility expansion watch
Volatility pressure
ECG currently carries volatility options pressure with a 53/100 conviction score. The nearest-chain expected move is 16.6%, with volume/open-interest participation at 0.01.
Expected move
16.6%
Wider near-term move priced
Activity / OI
0.01
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
-3.5%
RS 6.7
Expected move
16.6%
Put-call volume
-
Volume / OI
0.01
Reference IV
0.87
Max pain
130.00
Underlying
125.43
Nearest expiry
21 Aug 2026
Contracts
264
Research Brief
ECG has a volatility chain read with 53/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 104.58–146.28; The largest call open-interest concentration is 135.00; the largest put concentration is 130.00. The most active strike by current volume is 110.00.
Priced range104.58–146.28
Call concentration135.00
Put concentration130.00
Max pain reference130.00
- 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 104.58 to 146.28. Max pain at 130.00 sits inside that range, 3.6% above spot.
Spot
Max pain
104.58125.43 ± 20.85146.28
Confirmation level
A close beyond 146.28 or below 104.58 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.
Participation8 × 22%
+1.8
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.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 135.00; the largest put concentration is 130.00. The most active strike by current volume is 110.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
22
95.00-24.3%
2
36
100.00-20.3%
5
47
105.00-16.3%
25
110
110.00-12.3%
12
117
115.00-8.3%
18
34
120.00-4.3%
22
0
125.00-0.3%
34
197
130.003.6%
45
3
135.007.6%
136
13
140.0011.6%
90
13
145.0015.6%
8
34
150.0019.6%
18
0
155.0023.6%
43
1
160.0027.6%
49
0
170.0035.5%
111
0
180.0043.5%
15
0
240.0091.3%
19
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.
0.87
21 Aug
21d
0.70
18 Sep
49d
0.69
20 Nov
112d
0.64
19 Feb
203d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
105
110
115
120
125
130
135
140
145
150
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
- 264 / 264
- 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: $32748 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-3.5%
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
0.01
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 1 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 · ITM
calls cluster with 15 contracts traded, $28035 estimated gross traded notional, and 86% of visible notional.
$28035
Calls · 46-90 days · OTM
calls cluster with 14 contracts traded, $4712 estimated gross traded notional, and 14% of visible notional.
$4712
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.
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
Close125.43
1W-3.5%
RS6.7
Fair value+45.0%
Options pressure100
Speculation8
Volatility96
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 10:32
Volatility
Pressure 60
Move 17.2%
30 Jul 10:30
Mixed
Pressure 7
Move 19.7%
31 Jul 10:21
Volatility
Pressure 77
Move 16.6%
31 Jul 21:43
Volatility
Pressure -32
Move 16.4%
1 Aug 04:19
Volatility
Pressure 100
Move 16.4%
2 Aug 19:31
Volatility
Pressure 100
Move 16.6%
Strike Map
Where activity is clustering
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts74
Avg IV0.87
Put-call-
Expiry18 Sep 2026
Contracts54
Avg IV0.70
Put-call-
Expiry20 Nov 2026
Contracts70
Avg IV0.69
Put-call-
Expiry19 Feb 2027
Contracts66
Avg IV0.64
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.85
Put IV0.82
Skew-0.03
18 Sep 2026Balanced skew
Call IV0.68
Put IV0.71
Skew0.03
20 Nov 2026Balanced skew
Call IV0.68
Put IV0.70
Skew0.02
19 Feb 2027Balanced skew
Call IV0.62
Put IV0.64
Skew0.02
Contract Tape
Most active contracts
ContractECG260821C00110000
SideCall
Expiry21 Aug 2026
Strike110.00
Volume12
OI12
IV0.91
ContractECG260918C00160000
SideCall
Expiry18 Sep 2026
Strike160.00
Volume10
OI17
IV0.68
ContractECG260821C00120000
SideCall
Expiry21 Aug 2026
Strike120.00
Volume3
OI22
IV0.90
ContractECG260918C00190000
SideCall
Expiry18 Sep 2026
Strike190.00
Volume1
OI-
IV0.38
ContractECG260918C00130000
SideCall
Expiry18 Sep 2026
Strike130.00
Volume1
OI-
IV0.75
ContractECG260918C00180000
SideCall
Expiry18 Sep 2026
Strike180.00
Volume1
OI-
IV0.34
ContractECG260918C00175000
SideCall
Expiry18 Sep 2026
Strike175.00
Volume1
OI-
IV0.73
ContractECG260821P00130000
SidePut
Expiry21 Aug 2026
Strike130.00
Volume-
OI197
IV0.83
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.