Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
VZ options intelligence
Verizon Communications Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
33
Market data through 18 Aug 2026
Checked 18 Aug 2026 20:30 · complete available chain
Call-side pressure
Bullish pressure
VZ currently carries bullish options pressure with a 33/100 conviction score. The nearest-chain expected move is 1.8%, with volume/open-interest participation at 0.03.
Expected move
1.8%
Near-term move context
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.56
Call-side skew
Trend fit
33
Options are not fully confirming trend
Weekly backdrop
+3.0%
RS -1.4
Expected move
1.8%
Put-call volume
0.56
Volume / OI
0.03
Reference IV
0.25
Max pain
45.00
Underlying
48.48
Nearest expiry
21 Aug 2026
Contracts
604
Research Brief
VZ has a bullish chain read with 33/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 47.60–49.36; The largest call open-interest concentration is 50.00; the largest put concentration is 43.00. The most active strike by current volume is 50.00.
Priced range47.60–49.36
Call concentration50.00
Put concentration43.00
Max pain reference45.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 47.60 to 49.36. Max pain at 45.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
47.6048.48 ± 0.8849.36
Confirmation level
A close beyond 49.36 or below 47.60 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 33/100
Pressure is 31/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure31 × 42%
+13.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement33 × 26%
+8.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility25 × 10%
+2.5
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 50.00; the largest put concentration is 43.00. The most active strike by current volume is 50.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
7515
30.00-38.1%
17
5455
38.00-21.6%
16
4380
39.00-19.6%
66
4165
40.00-17.5%
216
6865
42.00-13.4%
2011
14198
43.00-11.3%
2884
6697
44.00-9.2%
4839
2146
45.00-7.2%
9395
766
46.00-5.1%
15405
5004
46.50-4.1%
718
1728
47.00-3.1%
4651
1462
47.50-2.0%
1454
3273
48.00-1.0%
11508
1007
48.500.0%
2319
325
49.001.1%
8727
375
50.003.1%
16449
90
51.005.2%
4297
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+$64.1MDelta change / 1% move
Positive peak50.00+$20.7M
Negative peak40.00-$2.1M
Nearest balance47.51Interpolated sign change
StrikeNegativePositiveNet / 1% move
42.50-12.3%
-$10,092
43.00-11.3%
-$594,822
43.50-10.3%
-$10,589
44.00-9.2%
-$602,974
44.50-8.2%
-$16,344
45.00-7.2%
+$3.2M
45.50-6.1%
-$41,121
46.00-5.1%
+$2.5M
46.50-4.1%
-$739,683
47.00-3.1%
+$8.1M
47.50-2.0%
-$258,425
48.00-1.0%
+$10.6M
48.500.0%
+$749,295
49.001.1%
+$11.2M
49.502.1%
+$288,183
50.003.1%
+$20.7M
51.005.2%
+$1.1M
52.007.3%
+$136,094
52.508.3%
+$7.3M
53.009.3%
+$28,999
54.0011.4%
+$483
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.25
21 Aug
3d
0.23
28 Aug
10d
0.24
4 Sep
17d
0.23
11 Sep
24d
0.23
18 Sep
31d
0.26
25 Sep
38d
0.25
2 Oct
45d
0.24
16 Oct
59d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
39
40
41
41
42
43
44
44
45
46
46
47
48
49
49
50
51
53
53
55
56
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 5 stored directional transitions, the next stored price moved in the labelled direction 80% of the time.
Directional follow-through80%
Moves contained by pricing58%
Average expiry move1.8%
14 Aug
Bullish · 32
3.0% through expiry
3.2% priced · v2.0
13 Aug
Mixed · 29
3.0% through expiry
1.9% priced · v2.0
12 Aug
Bullish · 32
3.0% through expiry
1.5% priced · v2.0
11 Aug
Mixed · 34
3.0% through expiry
1.9% priced · v2.0
10 Aug
Mixed · 29
3.0% through expiry
2.1% priced · v2.0
7 Aug
Mixed · 28
3.0% through expiry
2.7% priced · v2.0
6 Aug
Bullish · 32
0.5% through expiry
1.5% priced · v2.0
5 Aug
Mixed · 40
0.5% through expiry
2.9% priced · v2.0
4 Aug
Mixed · 38
0.5% through expiry
2.9% priced · v2.0
3 Aug
Mixed · 30
0.5% through expiry
2.8% priced · v2.0
31 Jul
Bullish · 32
0.5% through expiry
2.8% priced · v2.0
30 Jul
Bearish · 45
0.9% through expiry
1.3% 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
High
Retained chain100%
Implied volatility100%
Two-sided quotes99%
Open interest99%
- Chain status
- Complete available chain
- Market date
- 18 Aug 2026
- Calculation
- v2.0
- Contracts
- 604 / 604
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $5.9M of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+31
1W price+3.0%
Call premium67%
Put premium33%
Notional split
C 67% / P 33%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
33/100
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 1748 contracts traded, $1.6M estimated gross traded notional, and 28% of visible notional.
$1.6M
Puts · 91+ days · ITM
puts cluster with 1662 contracts traded, $1.1M estimated gross traded notional, and 19% of visible notional.
$1.1M
Calls · 0-7 days · ITM
calls cluster with 1351 contracts traded, $592,400 estimated gross traded notional, and 10% of visible notional.
$592,400
Calls · 22-45 days · ITM
calls cluster with 630 contracts traded, $366,001 estimated gross traded notional, and 6% of visible notional.
$366,001
Calls · 91+ days · OTM
calls cluster with 1825 contracts traded, $346,616 estimated gross traded notional, and 6% of visible notional.
$346,616
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 15 completed sessions
Volume rank13th
Volume/OI rank13th
IV rank13th
Market Context
Underlying confirmation
Close48.48
1W+3.0%
RS-1.4
Fair value+25.3%
Options pressure31
Speculation41
Volatility25
Trend fit33
Today Versus Normal
Stored-options context
30d avg 2.4% · 15 sessions
20th
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg 0.30 · 15 sessions
13th
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg 1.11 · 15 sessions
7th
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
30d avg 0.05 · 15 sessions
13th
90d avg - · 15/30 sessions
-
180d avg - · 15/60 sessions
-
Pressure Trail
Recent pressure and volatility
10 Aug 17:25
Mixed
Pressure 0
Move 2.2%
10 Aug 18:50
Mixed
Pressure 6
Move 2.1%
11 Aug 13:50
Mixed
Pressure -11
Move 2.1%
11 Aug 15:30
Mixed
Pressure 11
Move 2.0%
11 Aug 17:00
Mixed
Pressure -1
Move 1.9%
11 Aug 18:30
Mixed
Pressure -3
Move 1.8%
11 Aug 19:50
Mixed
Pressure -9
Move 1.9%
12 Aug 14:40
Mixed
Pressure -3
Move 1.7%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 1 · OI 17
Puts · V 1 · OI 7515
Strike32.00
Calls · V 4 · OI 16
Puts · V 0 · OI 0
Strike33.00
Calls · V 10 · OI 12
Puts · V 0 · OI 0
Strike34.00
Calls · V 2 · OI 11
Puts · V 0 · OI 2
Strike35.00
Calls · V 6 · OI 20
Puts · V 1 · OI 2957
Strike36.00
Calls · V 17 · OI 6
Puts · V 21 · OI 23
Strike37.00
Calls · V 24 · OI 2
Puts · V 0 · OI 237
Strike38.00
Calls · V 1 · OI 16
Puts · V 11 · OI 5455
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts77
Avg IV0.25
Put-call0.24
Expiry28 Aug 2026
Contracts62
Avg IV0.23
Put-call0.61
Expiry4 Sep 2026
Contracts40
Avg IV0.24
Put-call0.55
Expiry11 Sep 2026
Contracts29
Avg IV0.23
Put-call0.38
Expiry18 Sep 2026
Contracts53
Avg IV0.23
Put-call0.70
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.25
Put IV0.32
Skew0.07
28 Aug 2026Balanced skew
Call IV0.23
Put IV0.24
Skew0.01
4 Sep 2026Balanced skew
Call IV0.24
Put IV0.23
Skew-0.01
11 Sep 2026Balanced skew
Call IV0.23
Put IV0.27
Skew0.04
18 Sep 2026Balanced skew
Call IV0.23
Put IV0.23
Skew0.00
Contract Tape
Most active contracts
ContractVZ260828C00036000
SideCall
Expiry28 Aug 2026
Strike36.00
Volume-
OI-
IV1.34
ContractVZ260904C00036000
SideCall
Expiry4 Sep 2026
Strike36.00
Volume-
OI-
IV0.86
ContractVZ260904C00038000
SideCall
Expiry4 Sep 2026
Strike38.00
Volume-
OI-
IV0.86
ContractVZ260918P00034000
SidePut
Expiry18 Sep 2026
Strike34.00
Volume-
OI489
IV0.52
ContractVZ260821P00037000
SidePut
Expiry21 Aug 2026
Strike37.00
Volume-
OI237
IV0.97
ContractVZ261002P00049000
SidePut
Expiry2 Oct 2026
Strike49.00
Volume-
OI40
IV0.22
ContractVZ260828P00045500
SidePut
Expiry28 Aug 2026
Strike45.50
Volume-
OI30
IV0.28
ContractVZ281215P00055000
SidePut
Expiry15 Dec 2028
Strike55.00
Volume-
OI29
IV0.29
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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.