Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
LZM options intelligence
Lifezone Metals Limited options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 3 Aug 2026
Checked 4 Aug 2026 12:01 · complete available chain
Volatility expansion watch
Volatility pressure
LZM currently carries volatility options pressure with a 53/100 conviction score. The nearest-chain expected move is 33.4%, with volume/open-interest participation at 0.00.
Expected move
33.4%
Wider near-term move priced
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
+6.3%
RS -31.2
Expected move
33.4%
Put-call volume
-
Volume / OI
0.00
Reference IV
1.50
Max pain
5.00
Underlying
3.39
Nearest expiry
21 Aug 2026
Contracts
28
Research Brief
LZM 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 2.26–4.52; The largest call open-interest concentration is 5.00; the largest put concentration is 5.00. The most active strike by current volume is 2.50.
Priced range2.26–4.52
Call concentration5.00
Put concentration5.00
Max pain reference5.00
- 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 2.26 to 4.52. Max pain at 5.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
2.263.39 ± 1.134.52
Confirmation level
A close beyond 4.52 or below 2.26 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 5.00; the largest put concentration is 5.00. The most active strike by current volume is 2.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
20
2.50-26.3%
351
881
5.0047.5%
4720
2
7.50121.2%
951
0
10.00195.0%
224
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+$55,179Delta change / 1% move
Positive peak5.00+$53,539
Negative peak-No negative strike
Nearest balance-Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.50-26.3%
+$544
5.0047.5%
+$53,539
7.50121.2%
+$639
10.00195.0%
+$456
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.
1.50
21 Aug
18d
0.90
18 Sep
46d
0.93
20 Nov
109d
0.93
19 Feb
200d
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
Comparable strike volatility is unavailable.
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 3 Aug 2026
- Calculation
- v2.0
- Contracts
- 28 / 28
- 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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $4,522 of estimated gross traded notional, calls · 91+ 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+6.3%
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.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 91+ days · ITM
calls cluster with 33 contracts traded, $4,125 estimated gross traded notional, and 91% of visible notional.
$4,125
Calls · 22-45 days · ITM
calls cluster with 2 contracts traded, $225 estimated gross traded notional, and 5% of visible notional.
$225
Calls · 91+ days · OTM
calls cluster with 3 contracts traded, $172 estimated gross traded notional, and 4% of visible notional.
$172
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
4 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 4 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close3.39
1W+6.3%
RS-31.2
Fair value-45.7%
Options pressure100
Speculation8
Volatility96
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:26
Volatility
Pressure 100
Move 26.3%
30 Jul 11:12
Bullish
Pressure 42
Move 30.7%
30 Jul 16:22
Volatility
Pressure 87
Move 23.7%
31 Jul 11:11
Volatility
Pressure 100
Move 21.8%
31 Jul 17:19
Volatility
Pressure 100
Move 27.3%
31 Jul 23:04
Volatility
Pressure 100
Move 27.3%
3 Aug 10:24
Volatility
Pressure 100
Move 37.8%
4 Aug 11:01
Volatility
Pressure 100
Move 33.4%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 0 · OI 351
Puts · V 0 · OI 20
Strike5.00
Calls · V 0 · OI 4720
Puts · V 0 · OI 881
Strike7.50
Calls · V 0 · OI 951
Puts · V 0 · OI 2
Strike10.00
Calls · V 0 · OI 224
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts8
Avg IV1.50
Put-call-
Expiry18 Sep 2026
Contracts6
Avg IV0.90
Put-call-
Expiry20 Nov 2026
Contracts8
Avg IV0.93
Put-call-
Expiry19 Feb 2027
Contracts6
Avg IV0.93
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.85
Put IV0.89
Skew0.04
18 Sep 2026Call IV premium
Call IV0.92
Put IV0.56
Skew-0.36
20 Nov 2026Call IV premium
Call IV0.98
Put IV0.38
Skew-0.60
19 Feb 2027Put IV premium
Call IV0.93
Put IV1.00
Skew0.07
Contract Tape
Most active contracts
ContractLZM261120C00002500
SideCall
Expiry20 Nov 2026
Strike2.50
Volume33
OI323
IV0.91
ContractLZM270219C00005000
SideCall
Expiry19 Feb 2027
Strike5.00
Volume3
OI778
IV0.93
ContractLZM260918C00002500
SideCall
Expiry18 Sep 2026
Strike2.50
Volume2
OI2
IV0.99
ContractLZM261120C00005000
SideCall
Expiry20 Nov 2026
Strike5.00
Volume-
OI21110
IV0.98
ContractLZM260821C00005000
SideCall
Expiry21 Aug 2026
Strike5.00
Volume-
OI4720
IV0.85
ContractLZM260821C00007500
SideCall
Expiry21 Aug 2026
Strike7.50
Volume-
OI951
IV1.58
ContractLZM260821P00005000
SidePut
Expiry21 Aug 2026
Strike5.00
Volume-
OI881
IV1.37
ContractLZM261120C00010000
SideCall
Expiry20 Nov 2026
Strike10.00
Volume-
OI386
IV1.27
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
No upcoming matched earnings event.
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.