Ticker Options Intelligence

EBF options intelligence

Ennis Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 48 Market data through 17 Sep 2026 Checked 18 Sep 2026 13:41 · complete available chain

Volatility expansion watch

Volatility pressure

EBF currently carries volatility options pressure with a 48/100 conviction score. The nearest-chain expected move is 5.6%, with volume/open-interest participation at 0.00.

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

Volatility expansion watch

Expected move 5.6%

Near-term move context

Activity / OI 0.00

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 -0.7%

RS -0.4

Expected move 5.6%
Put-call volume -
Volume / OI 0.00
Reference IV 0.95
Max pain 22.50
Underlying 21.30
Nearest expiry 18 Sep 2026
Contracts 70

Research Brief

EBF has a volatility chain read with 48/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 20.10–22.50; The largest call open-interest concentration is 22.50; the largest put concentration is 22.50. The most active strike by current volume is 12.50.

Priced range20.10–22.50
Call concentration22.50
Put concentration22.50
Max pain reference22.50
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
  • Participation is above the ticker's stored normal, which makes the read more noteworthy.
What would weaken it
  • 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

Size, not direction · through 18 Sep

Options imply 20.10 to 22.50. Max pain at 22.50 sits inside that range, 5.6% above spot.

Spot Max pain
20.1021.30 ± 1.2022.50
Confirmation level

A close beyond 22.50 or below 20.10 at the 18 Sep 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 48/100

Evidence alignment, not probability

Pressure is 95/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure95 × 42%
+40.0

How strongly activity leans toward calls or puts.

Participation0 × 22%
+0.0

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.

Volatility79 × 10%
+7.9

The intensity of implied volatility and the priced move.

Reconstructed score47.9Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 22.50; the largest put concentration is 22.50. The most active strike by current volume is 12.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
12.50-41.3%
0
0
15.00-29.6%
0
0
17.50-17.8%
0
25
20.00-6.1%
0
157
22.505.6%
41
0
25.0017.4%
0
0
30.0040.8%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Negative gamma proxy

Reported + model-estimated Greeks · 100% coverage

Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile-$11,787Delta change / 1% move
Positive peak20.00+$291
Negative peak22.50-$12,165
Nearest balance20.06Interpolated sign change
StrikeNegativePositiveNet / 1% move
17.50-17.8%
+$19
20.00-6.1%
+$291
22.505.6%
-$12,165
25.0017.4%
+$55
30.0040.8%
+$13
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

11.82× front/back

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

0.95 18 Sep 1d
0.47 16 Oct 29d
0.31 20 Nov 64d
0.10 15 Jan 120d
0.08 16 Apr 211d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

18
20
23
25
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

13 matured · 3 directional

Across 3 stored directional transitions, the next stored price moved in the labelled direction 0% of the time.

Directional follow-through0%
Moves contained by pricing100%
Average expiry move2.0%
20 Aug Volatility · 54 -2.4% through expiry 5.8% priced · v2.0
17 Aug Mixed · 31 -2.4% through expiry 4.8% priced · v2.0
14 Aug Volatility · 55 -3.3% through expiry 37.6% priced · v2.0
13 Aug Bullish · 48 -3.3% through expiry 5.8% priced · v2.0
12 Aug Mixed · 30 -3.3% through expiry 5.2% priced · v2.0
10 Aug Bullish · 46 -3.3% through expiry 4.4% priced · v2.0
7 Aug Mixed · 30 -3.3% through expiry 5.3% priced · v2.0
6 Aug Volatility · 55 -1.1% through expiry 40.1% priced · v2.0
5 Aug Volatility · 55 -1.1% through expiry 40.3% priced · v2.0
4 Aug Mixed · 30 -1.1% through expiry 5.3% priced · v2.0
3 Aug Bullish · 48 -1.1% through expiry 4.4% priced · v2.0
31 Jul Mixed · 29 -1.1% through expiry 5.0% priced · v2.0

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

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
17 Sep 2026
Calculation
v2.0
Contracts
70 / 70
  • 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

79/100
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 Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $178 of estimated gross traded notional, calls · 46-90 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+95
1W price-0.7%
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 0.00 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 28 Sep Matched earnings event is 9 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 Calls · 46-90 days · ITM
Calls · 46-90 days · ITM calls cluster with 1 contracts traded, $178 estimated gross traded notional, and 100% of visible notional.
$178

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.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Activity Anomaly

Above normal

68

Activity is running above the recent historical baseline.

Baseline: 22 completed sessions

Volume rank64th
Volume/OI rank59th
IV rank82th

Market Context

Underlying confirmation

Sharemaestro weekly
Close21.30
1W-0.7%
RS-0.4
Fair value+15.6%
Options pressure95
Speculation0
Volatility79
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 5.6% history building
30d avg - · 8/10 sessions -
90d avg - · 22/30 sessions -
180d avg - · 22/60 sessions -
IV 0.95 history building
30d avg - · 8/10 sessions -
90d avg - · 22/30 sessions -
180d avg - · 22/60 sessions -
Put-call 0.00 history building
30d avg - · 0/10 sessions -
90d avg - · 8/30 sessions -
180d avg - · 8/60 sessions -
Volume/OI 0.00 history building
30d avg - · 8/10 sessions -
90d avg - · 22/30 sessions -
180d avg - · 22/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:25 Bullish
Pressure 100
Move 7.3%
30 Jul 11:11 Bullish
Pressure 100
Move 6.8%
31 Jul 10:45 Mixed
Pressure 12
Move 4.8%
31 Jul 14:16 Volatility
Pressure 100
Move 30.9%
31 Jul 15:01 Volatility
Pressure 100
Move 30.7%
31 Jul 16:25 Volatility
Pressure 100
Move 56.3%
31 Jul 17:32 Volatility
Pressure 100
Move 56.2%
1 Aug 07:55 Mixed
Pressure 12
Move 5.0%

Strike Map

Where activity is clustering

Full strike map
Strike12.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 25
Strike22.50
Calls · V 0 · OI 41
Puts · V 0 · OI 157
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry18 Sep 2026
Contracts14
Avg IV0.95
Put-call-
Expiry16 Oct 2026
Contracts14
Avg IV0.47
Put-call-
Expiry20 Nov 2026
Contracts14
Avg IV0.31
Put-call-
Expiry15 Jan 2027
Contracts14
Avg IV0.10
Put-call-
Expiry16 Apr 2027
Contracts14
Avg IV0.08
Put-call-

Skew

Call/put IV balance

OTM demand
18 Sep 2026Put IV premium
Call IV0.55
Put IV0.70
Skew0.15
16 Oct 2026Balanced skew
Call IV0.09
Put IV0.13
Skew0.04
20 Nov 2026Call IV premium
Call IV0.17
Put IV0.09
Skew-0.08
15 Jan 2027Balanced skew
Call IV0.04
Put IV0.07
Skew0.03
16 Apr 2027Balanced skew
Call IV0.02
Put IV0.06
Skew0.04

Contract Tape

Most active contracts

Full contract tape
ContractEBF261120C00020000
SideCall
Expiry20 Nov 2026
Strike20.00
Volume1
OI-
IV0.23
ContractEBF260918P00022500
SidePut
Expiry18 Sep 2026
Strike22.50
Volume-
OI157
IV0.76
ContractEBF261016C00020000
SideCall
Expiry16 Oct 2026
Strike20.00
Volume-
OI50
IV1.06
ContractEBF260918C00022500
SideCall
Expiry18 Sep 2026
Strike22.50
Volume-
OI41
IV0.55
ContractEBF270115C00020000
SideCall
Expiry15 Jan 2027
Strike20.00
Volume-
OI27
IV0.01
ContractEBF260918P00020000
SidePut
Expiry18 Sep 2026
Strike20.00
Volume-
OI25
IV0.70
ContractEBF261016C00022500
SideCall
Expiry16 Oct 2026
Strike22.50
Volume-
OI5
IV0.09
ContractEBF261016C00025000
SideCall
Expiry16 Oct 2026
Strike25.00
Volume-
OI4
IV0.26

Evidence context