Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
SKE options intelligence
Skeena Resources Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
35
Market data through 30 Jul 2026
Checked 31 Jul 2026 03:48 · complete available chain
Options-market disagreement
Mixed pressure
SKE currently carries mixed options pressure with a 35/100 conviction score. The nearest-chain expected move is 11.7%, with volume/open-interest participation at 0.00.
Expected move
11.7%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
1.47
Put-side skew
Trend fit
79
Options agree with trend context
Weekly backdrop
-2.0%
RS -2.2
Expected move
11.7%
Put-call volume
1.47
Volume / OI
0.00
Reference IV
0.57
Max pain
27.50
Underlying
27.11
Nearest expiry
21 Aug 2026
Contracts
140
Research Brief
SKE has a mixed chain read with 35/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 23.93–30.29; The largest call open-interest concentration is 27.50; the largest put concentration is 25.00. The most active strike by current volume is 27.50.
Priced range23.93–30.29
Call concentration27.50
Put concentration25.00
Max pain reference27.50
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 23.93 to 30.29. Max pain at 27.50 sits inside that range, 1.4% above spot.
Spot
Max pain
23.9327.11 ± 3.1830.29
Confirmation level
A close beyond 30.29 or below 23.93 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 35/100
Pressure is 14/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure14 × 42%
+5.8
How strongly activity leans toward calls or puts.
Participation3 × 22%
+0.6
Volume relative to existing open interest and contract-level activity.
Trend agreement79 × 26%
+20.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility80 × 10%
+8.0
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 27.50; the largest put concentration is 25.00. The most active strike by current volume is 27.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
15.00-44.7%
0
0
17.50-35.4%
0
11
20.00-26.2%
6
301
22.50-17.0%
0
1140
25.00-7.8%
11
89
27.501.4%
680
10
30.0010.7%
467
0
32.5019.9%
260
0
35.0029.1%
204
0
37.5038.3%
1
0
40.0047.5%
0
0
42.5056.8%
0
0
45.0066.0%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.57
21 Aug
22d
0.61
18 Sep
50d
0.61
16 Oct
78d
0.63
15 Jan
169d
0.64
17 Dec
505d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
23
25
28
30
33
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 140 / 140
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $6470 of estimated gross traded notional, puts · 46-90 days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-14
1W price-2.0%
Call premium28%
Put premium72%
Notional split
C 28% / P 72%
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
79/100
Agreement between options pressure and Sharemaestro market context.
Event window
13 Aug
Matched earnings event is 12 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 · 46-90 days · OTM
puts cluster with 15 contracts traded, $2355 estimated gross traded notional, and 36% of visible notional.
$2355
Calls · 46-90 days · OTM
calls cluster with 12 contracts traded, $1365 estimated gross traded notional, and 21% of visible notional.
$1365
Puts · 91+ days · ITM
puts cluster with 1 contracts traded, $990 estimated gross traded notional, and 15% of visible notional.
$990
Puts · 91+ days · ATM
puts cluster with 1 contracts traded, $468 estimated gross traded notional, and 7% of visible notional.
$468
Calls · 91+ days · OTM
calls cluster with 2 contracts traded, $420 estimated gross traded notional, and 6% of visible notional.
$420
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close26.58
1W-2.0%
RS-2.2
Fair value+97.2%
Options pressure-14
Speculation3
Volatility80
Trend fit79
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 1/10 sessions
-
90d avg - · 1/30 sessions
-
180d avg - · 1/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:50
Volatility
Pressure -95
Move 14.7%
29 Jul 23:13
Volatility
Pressure 53
Move 13.8%
30 Jul 17:07
Bullish
Pressure 53
Move 13.4%
31 Jul 02:48
Mixed
Pressure -14
Move 11.7%
Strike Map
Where activity is clustering
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 6
Puts · V 0 · OI 11
Strike22.50
Calls · V 0 · OI 0
Puts · V 1 · OI 301
Strike25.00
Calls · V 0 · OI 11
Puts · V 1 · OI 1140
Strike27.50
Calls · V 0 · OI 680
Puts · V 2 · OI 89
Strike30.00
Calls · V 0 · OI 467
Puts · V 0 · OI 10
Strike32.50
Calls · V 1 · OI 260
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts26
Avg IV0.57
Put-call4.00
Expiry18 Sep 2026
Contracts22
Avg IV0.61
Put-call-
Expiry16 Oct 2026
Contracts30
Avg IV0.61
Put-call16.00
Expiry15 Jan 2027
Contracts32
Avg IV0.63
Put-call1.00
Expiry17 Dec 2027
Contracts30
Avg IV0.64
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.67
Put IV0.73
Skew0.06
18 Sep 2026Balanced skew
Call IV0.59
Put IV0.61
Skew0.02
16 Oct 2026Put IV premium
Call IV0.66
Put IV0.73
Skew0.07
15 Jan 2027Put IV premium
Call IV0.61
Put IV0.68
Skew0.07
17 Dec 2027Balanced skew
Call IV0.64
Put IV0.64
Skew-
Contract Tape
Most active contracts
ContractSKE261016P00025000
SidePut
Expiry16 Oct 2026
Strike25.00
Volume11
OI93
IV0.64
ContractSKE260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume6
OI52
IV0.56
ContractSKE260918C00032500
SideCall
Expiry18 Sep 2026
Strike32.50
Volume5
OI109
IV0.59
ContractSKE261016P00020000
SidePut
Expiry16 Oct 2026
Strike20.00
Volume4
OI20
IV0.66
ContractSKE270115C00035000
SideCall
Expiry15 Jan 2027
Strike35.00
Volume2
OI256
IV0.58
ContractSKE260821P00027500
SidePut
Expiry21 Aug 2026
Strike27.50
Volume2
OI89
IV0.74
ContractSKE260821P00025000
SidePut
Expiry21 Aug 2026
Strike25.00
Volume1
OI1140
IV0.73
ContractSKE260821P00022500
SidePut
Expiry21 Aug 2026
Strike22.50
Volume1
OI301
IV0.67
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.