Ticker Options Intelligence

VRTX options intelligence

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

Conviction 47 Market data through 30 Jul 2026 Checked 31 Jul 2026 11:00 · complete available chain

Put-side pressure

Bearish pressure

VRTX currently carries bearish options pressure with a 47/100 conviction score. The nearest-chain expected move is 2.2%, with volume/open-interest participation at 0.02.

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

Put-side pressure

Expected move 2.2%

Near-term move context

Activity / OI 0.02

Current volume is quieter versus prior open interest

Put-call 1.96

Put-side skew

Trend fit 72

Options agree with trend context

Weekly backdrop -1.7%

RS -0.9

Expected move 2.2%
Put-call volume 1.96
Volume / OI 0.02
Reference IV 0.53
Max pain 480.00
Underlying 477.36
Nearest expiry 31 Jul 2026
Contracts 1682

Research Brief

VRTX has a bearish chain read with 47/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 466.73–487.99; The largest call open-interest concentration is 500.00; the largest put concentration is 375.00. The most active strike by current volume is 475.00.

Priced range466.73–487.99
Call concentration500.00
Put concentration375.00
Max pain reference480.00
What would confirm it
  • Price remains weak while put-side concentration persists.
  • The current chain read already agrees with the stored weekly trend context.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.
  • 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 31 Jul

Options imply 466.73 to 487.99. Max pain at 480.00 sits inside that range, 0.6% above spot.

Spot Max pain
466.73477.36 ± 10.63487.99
Confirmation level

A close beyond 487.99 or below 466.73 at the 31 Jul 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 47/100

Evidence alignment, not probability

Pressure is 35/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure35 × 42%
+14.6

How strongly activity leans toward calls or puts.

Participation41 × 22%
+8.9

Volume relative to existing open interest and contract-level activity.

Trend agreement72 × 26%
+18.8

How closely the chain read agrees with the underlying trend backdrop.

Volatility46 × 10%
+4.6

The intensity of implied volatility and the priced move.

Reconstructed score46.9Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 500.00; the largest put concentration is 375.00. The most active strike by current volume is 475.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
141
250.00-47.6%
0
96
320.00-33.0%
0
92
370.00-22.5%
0
236
375.00-21.4%
0
14
455.00-4.7%
70
101
465.00-2.6%
4
124
470.00-1.5%
6
134
472.50-1.0%
47
103
477.500.0%
1
131
480.000.6%
104
23
485.001.6%
76
30
490.002.6%
93
0
497.504.2%
112
2
500.004.7%
283
0
530.0011.0%
150
0
535.0012.1%
118
0
540.0013.1%
116
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.45× front/back

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

0.53 31 Jul 1d
0.54 7 Aug 8d
0.45 14 Aug 15d
0.42 21 Aug 22d
0.42 28 Aug 29d
0.39 4 Sep 36d
0.37 11 Sep 43d
0.37 18 Sep 50d

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.

385
395
410
420
435
445
455
460
468
473
478
485
490
498
503
510
520
535
545
560
570
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

Forward validation is building. The earliest eligible stored read expires 31 Jul 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

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
30 Jul 2026
Calculation
v2.0
Contracts
1682 / 1682
  • 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

77/100
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 Bearish flow confirms price

Options pressure and weekly price action are both cautionary.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $1.2M of estimated gross traded notional, calls · 22-45 days · atm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-35
1W price-1.7%
Call premium65%
Put premium35%
Notional split C 65% / P 35% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.02 Volume divided by open interest across the visible chain.
Trend fit 72/100 Agreement between options pressure and Sharemaestro market context.
Event window 3 Aug Matched earnings event is 2 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 · 22-45 days · ATM
Calls · 22-45 days · ATM calls cluster with 162 contracts traded, $465830 estimated gross traded notional, and 40% of visible notional.
$465830
Calls · 0-7 days · ATM calls cluster with 96 contracts traded, $99630 estimated gross traded notional, and 8% of visible notional.
$99630
Puts · 46-90 days · OTM puts cluster with 137 contracts traded, $94078 estimated gross traded notional, and 8% of visible notional.
$94078
Puts · 0-7 days · OTM puts cluster with 441 contracts traded, $64499 estimated gross traded notional, and 6% of visible notional.
$64499
Puts · 0-7 days · ATM puts cluster with 56 contracts traded, $58232 estimated gross traded notional, and 5% of visible notional.
$58232

Setup Classification

Opportunity and risk frame

Context, not advice
Positive Options-confirmed trend

Positioning agrees with the Sharemaestro trend backdrop.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Warning Crowded strike risk

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

Sharemaestro weekly
Close477.36
1W-1.7%
RS-0.9
Fair value+9.2%
Options pressure-35
Speculation41
Volatility46
Trend fit72

Today Versus Normal

Stored-options context

View history
Expected move 2.2% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 0.53 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 1.96 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.02 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:02 Bearish
Pressure -48
Move 3.3%
30 Jul 10:01 Mixed
Pressure -17
Move 2.9%
31 Jul 10:00 Bearish
Pressure -35
Move 2.2%

Strike Map

Where activity is clustering

Full strike map
Strike250.00
Calls · V 0 · OI 0
Puts · V 0 · OI 141
Strike260.00
Calls · V 0 · OI 0
Puts · V 1 · OI 78
Strike265.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike270.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike275.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike280.00
Calls · V 0 · OI 0
Puts · V 1 · OI 1
Strike285.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike290.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1

Term Structure

Expiration activity

Volume and IV
Expiry31 Jul 2026
Contracts168
Avg IV0.53
Put-call0.35
Expiry7 Aug 2026
Contracts170
Avg IV0.54
Put-call8.19
Expiry14 Aug 2026
Contracts166
Avg IV0.45
Put-call1.28
Expiry21 Aug 2026
Contracts132
Avg IV0.42
Put-call2.41
Expiry28 Aug 2026
Contracts144
Avg IV0.42
Put-call0.42

Skew

Call/put IV balance

OTM demand
31 Jul 2026Put IV premium
Call IV0.57
Put IV0.76
Skew0.19
7 Aug 2026Balanced skew
Call IV0.46
Put IV0.50
Skew0.04
14 Aug 2026Put IV premium
Call IV0.39
Put IV0.44
Skew0.06
21 Aug 2026Balanced skew
Call IV0.39
Put IV0.42
Skew0.04
28 Aug 2026Balanced skew
Call IV0.41
Put IV0.44
Skew0.04

Contract Tape

Most active contracts

Full contract tape
ContractVRTX260828C00470000
SideCall
Expiry28 Aug 2026
Strike470.00
Volume122
OI102
IV0.44
ContractVRTX260918P00420000
SidePut
Expiry18 Sep 2026
Strike420.00
Volume120
OI595
IV0.42
ContractVRTX260807P00415000
SidePut
Expiry7 Aug 2026
Strike415.00
Volume96
OI22
IV0.35
ContractVRTX260807P00425000
SidePut
Expiry7 Aug 2026
Strike425.00
Volume94
OI25
IV0.29
ContractVRTX260807P00435000
SidePut
Expiry7 Aug 2026
Strike435.00
Volume89
OI25
IV0.53
ContractVRTX260807P00410000
SidePut
Expiry7 Aug 2026
Strike410.00
Volume52
OI156
IV0.81
ContractVRTX260807P00420000
SidePut
Expiry7 Aug 2026
Strike420.00
Volume37
OI21
IV0.32
ContractVRTX260807P00400000
SidePut
Expiry7 Aug 2026
Strike400.00
Volume32
OI1
IV0.89