Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
ZVRA options intelligence
Zevra Therapeutics Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 29 Jul 2026
Checked 30 Jul 2026 00:34 · complete available chain
Volatility expansion watch
Volatility pressure
ZVRA currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 18.1%, with volume/open-interest participation at 0.23.
Expected move
18.1%
Wider near-term move priced
Activity / OI
0.23
Current volume is quieter versus prior open interest
Put-call
0.43
Call-side skew
Trend fit
53
Options are not fully confirming trend
Weekly backdrop
-25.4%
RS -11.5
Expected move
18.1%
Put-call volume
0.43
Volume / OI
0.23
Reference IV
0.85
Max pain
12.00
Underlying
9.53
Nearest expiry
21 Aug 2026
Contracts
133
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: $1.5M of estimated gross traded notional, puts · 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+32
1W price-25.4%
Call premium42%
Put premium58%
Notional split
C 42% / P 58%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.23
Volume divided by open interest across the visible chain.
Trend fit
53/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 6 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · ITM
puts cluster with 1483 contracts traded, $689100 estimated gross traded notional, and 46% of visible notional.
$689100
Calls · 91+ days · OTM
calls cluster with 7628 contracts traded, $559456 estimated gross traded notional, and 38% of visible notional.
$559456
Puts · 91+ days · OTM
puts cluster with 1724 contracts traded, $127848 estimated gross traded notional, and 9% of visible notional.
$127848
Puts · 22-45 days · ITM
puts cluster with 143 contracts traded, $44955 estimated gross traded notional, and 3% of visible notional.
$44955
Calls · 91+ days · ITM
calls cluster with 60 contracts traded, $37573 estimated gross traded notional, and 3% of visible notional.
$37573
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
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Volume rank100th
Volume/OI rank100th
IV rank100th
Market Context
Underlying confirmation
Close9.53
1W-25.4%
RS-11.5
Fair value+22.0%
Options pressure32
Speculation45
Volatility96
Trend fit53
Today Versus Normal
Stored-options context
30d avg 17.6% · 1 read
100th
90d avg 17.6% · 1 read
100th
180d avg 17.6% · 1 read
100th
30d avg 0.73 · 1 read
100th
90d avg 0.73 · 1 read
100th
180d avg 0.73 · 1 read
100th
30d avg 0.40 · 1 read
100th
90d avg 0.40 · 1 read
100th
180d avg 0.40 · 1 read
100th
30d avg 0.08 · 1 read
100th
90d avg 0.08 · 1 read
100th
180d avg 0.08 · 1 read
100th
Pressure Trail
Recent pressure and volatility
29 Jul 11:20
Volatility
Pressure 37
Move 17.6%
29 Jul 23:34
Volatility
Pressure 32
Move 18.1%
Strike Map
Where activity is clustering
Strike2.00
Calls · V 0 · OI 0
Puts · V 72 · OI 10
Strike3.00
Calls · V 0 · OI 0
Puts · V 4 · OI 3
Strike4.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike5.00
Calls · V 25 · OI 42
Puts · V 0 · OI 4
Strike6.00
Calls · V 0 · OI 0
Puts · V 2 · OI 9
Strike7.00
Calls · V 2 · OI 2
Puts · V 0 · OI 4
Strike8.00
Calls · V 25 · OI 35
Puts · V 2 · OI 5219
Strike9.00
Calls · V 14 · OI 69
Puts · V 11 · OI 197
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts34
Avg IV0.85
Put-call0.87
Expiry18 Sep 2026
Contracts7
Avg IV1.18
Put-call-
Expiry20 Nov 2026
Contracts10
Avg IV0.96
Put-call0.11
Expiry18 Dec 2026
Contracts26
Avg IV0.70
Put-call0.71
Expiry15 Jan 2027
Contracts32
Avg IV0.81
Put-call0.01
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.65
Put IV0.87
Skew0.22
18 Sep 2026Put IV premium
Call IV0.51
Put IV2.58
Skew2.08
20 Nov 2026Put IV premium
Call IV1.00
Put IV3.89
Skew2.90
18 Dec 2026Call IV premium
Call IV0.98
Put IV0.76
Skew-0.22
15 Jan 2027Balanced skew
Call IV0.66
Put IV0.66
Skew0.01
Contract Tape
Most active contracts
ContractZVRA260918P00020000
SidePut
Expiry18 Sep 2026
Strike20.00
Volume-
OI-
IV1.16
ContractZVRA260821P00018000
SidePut
Expiry21 Aug 2026
Strike18.00
Volume-
OI-
IV1.52
ContractZVRA260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume-
OI-
IV1.71
ContractZVRA260821P00017000
SidePut
Expiry21 Aug 2026
Strike17.00
Volume-
OI-
IV1.42
ContractZVRA260918P00008000
SidePut
Expiry18 Sep 2026
Strike8.00
Volume-
OI20
IV2.58
ContractZVRA270115P00001000
SidePut
Expiry15 Jan 2027
Strike1.00
Volume-
OI10
IV2.16
ContractZVRA261120P00011000
SidePut
Expiry20 Nov 2026
Strike11.00
Volume-
OI10
IV1.07
ContractZVRA261120C00025000
SideCall
Expiry20 Nov 2026
Strike25.00
Volume-
OI7
IV1.64
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.