Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SRPT options intelligence
Sarepta Therapeutics Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 31 Jul 2026
Checked 2 Aug 2026 01:59 · complete available chain
Call-side pressure
Bullish pressure
SRPT currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 12.6%, with volume/open-interest participation at 0.03.
Expected move
12.6%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.39
Call-side skew
Trend fit
18
Options are not fully confirming trend
Weekly backdrop
-5.2%
RS -30.2
Expected move
12.6%
Put-call volume
0.39
Volume / OI
0.03
Reference IV
1.29
Max pain
17.00
Underlying
14.86
Nearest expiry
7 Aug 2026
Contracts
636
Research Brief
SRPT has a bullish chain read with 42/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 12.99–16.73; The largest call open-interest concentration is 20.00; the largest put concentration is 17.00. The most active strike by current volume is 15.00.
Priced range12.99–16.73
Call concentration20.00
Put concentration17.00
Max pain reference17.00
- 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.
- 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 12.99 to 16.73. Max pain at 17.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
12.9914.86 ± 1.8716.73
Confirmation level
A close beyond 16.73 or below 12.99 at the 7 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 42/100
Pressure is 45/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure45 × 42%
+19.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement18 × 26%
+4.8
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 20.00; the largest put concentration is 17.00. The most active strike by current volume is 15.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
30
13.50-9.2%
0
121
15.000.9%
20
138
15.504.3%
94
128
16.007.7%
126
50
16.5011.0%
51
316
17.0014.4%
197
52
17.5017.8%
135
87
18.0021.1%
107
0
18.5024.5%
70
0
20.0034.6%
373
2
22.0048.0%
50
46
23.0054.8%
49
2
24.0061.5%
53
1
27.0081.7%
58
3
28.0088.4%
90
2
29.0095.2%
61
0
30.00101.9%
67
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.29
7 Aug
7d
0.77
14 Aug
14d
0.88
21 Aug
21d
0.76
28 Aug
28d
0.58
4 Sep
35d
0.63
11 Sep
42d
0.87
18 Sep
49d
0.81
20 Nov
112d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
12
13
13
14
14
15
15
16
16
17
17
18
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 636 / 636
- 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.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $343423 of estimated gross traded notional, puts · 91+ days · atm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+45
1W price-5.2%
Call premium48%
Put premium52%
Notional split
C 48% / P 52%
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
18/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 3 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 · ATM
puts cluster with 163 contracts traded, $56285 estimated gross traded notional, and 16% of visible notional.
$56285
Calls · 91+ days · ITM
calls cluster with 99 contracts traded, $54135 estimated gross traded notional, and 16% of visible notional.
$54135
Calls · 91+ days · OTM
calls cluster with 254 contracts traded, $40058 estimated gross traded notional, and 12% of visible notional.
$40058
Calls · 91+ days · ATM
calls cluster with 105 contracts traded, $36358 estimated gross traded notional, and 11% of visible notional.
$36358
Puts · 22-45 days · ITM
puts cluster with 79 contracts traded, $34640 estimated gross traded notional, and 10% of visible notional.
$34640
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
3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 3 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close14.86
1W-5.2%
RS-30.2
Fair value-80.5%
Options pressure45
Speculation41
Volatility96
Trend fit18
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:03
Bullish
Pressure 43
Move 5.1%
30 Jul 10:51
Bullish
Pressure 81
Move 3.1%
30 Jul 15:14
Bullish
Pressure 34
Move 5.9%
30 Jul 17:53
Bullish
Pressure 20
Move 6.5%
31 Jul 12:32
Bullish
Pressure 36
Move 4.3%
31 Jul 18:53
Bullish
Pressure 49
Move 7.0%
31 Jul 22:31
Bullish
Pressure 44
Move 7.0%
1 Aug 06:40
Bullish
Pressure 45
Move 12.4%
Strike Map
Where activity is clustering
Strike5.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike6.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike7.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike8.00
Calls · V 0 · OI 4
Puts · V 0 · OI 0
Strike9.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 1
Puts · V 0 · OI 1
Strike11.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike11.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts76
Avg IV1.29
Put-call0.70
Expiry14 Aug 2026
Contracts74
Avg IV0.77
Put-call0.11
Expiry21 Aug 2026
Contracts84
Avg IV0.88
Put-call0.09
Expiry28 Aug 2026
Contracts50
Avg IV0.76
Put-call1.80
Expiry4 Sep 2026
Contracts44
Avg IV0.58
Put-call-
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV0.85
Put IV1.03
Skew0.18
14 Aug 2026Call IV premium
Call IV0.88
Put IV0.82
Skew-0.06
21 Aug 2026Call IV premium
Call IV0.91
Put IV0.81
Skew-0.11
28 Aug 2026Balanced skew
Call IV0.81
Put IV0.81
Skew-
4 Sep 2026Call IV premium
Call IV1.88
Put IV0.79
Skew-1.09
Contract Tape
Most active contracts
ContractSRPT260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume225
OI1083
IV0.88
ContractSRPT260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume154
OI1797
IV0.85
ContractSRPT260807C00015000
SideCall
Expiry7 Aug 2026
Strike15.00
Volume142
OI20
IV0.92
ContractSRPT270115P00015000
SidePut
Expiry15 Jan 2027
Strike15.00
Volume132
OI2084
IV0.91
ContractSRPT260814C00016500
SideCall
Expiry14 Aug 2026
Strike16.50
Volume127
OI-
IV0.87
ContractSRPT260918C00020000
SideCall
Expiry18 Sep 2026
Strike20.00
Volume102
OI397
IV0.79
ContractSRPT260807P00015000
SidePut
Expiry7 Aug 2026
Strike15.00
Volume96
OI121
IV1.35
ContractSRPT270219C00012500
SideCall
Expiry19 Feb 2027
Strike12.50
Volume63
OI-
IV0.95
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.