Ticker Options Intelligence

SNDX options intelligence

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

Conviction 40 Market data through 31 Jul 2026 Checked 31 Jul 2026 18:05 · complete available chain

Call-side pressure

Bullish pressure

SNDX currently carries bullish options pressure with a 40/100 conviction score. The nearest-chain expected move is 14.5%, with volume/open-interest participation at 0.08.

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

Call-side pressure

Expected move 14.5%

Wider near-term move priced

Activity / OI 0.08

Current volume is quieter versus prior open interest

Put-call 0.50

Call-side skew

Trend fit 21

Options are not fully confirming trend

Weekly backdrop -8.7%

RS -0.5

Expected move 14.5%
Put-call volume 0.50
Volume / OI 0.08
Reference IV 0.95
Max pain 20.00
Underlying 20.81
Nearest expiry 21 Aug 2026
Contracts 159

Research Brief

SNDX has a bullish chain read with 40/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 17.79–23.83; The largest call open-interest concentration is 25.00; the largest put concentration is 20.00. The most active strike by current volume is 25.00.

Priced range17.79–23.83
Call concentration25.00
Put concentration20.00
Max pain reference20.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 17.79 to 23.83. Max pain at 20.00 sits inside that range, 3.9% below spot.

Spot Max pain
17.7920.81 ± 3.0223.83
Confirmation level

A close beyond 23.83 or below 17.79 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 40/100

Evidence alignment, not probability

Pressure is 44/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure44 × 42%
+18.3

How strongly activity leans toward calls or puts.

Participation30 × 22%
+6.6

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

Trend agreement21 × 26%
+5.6

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

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score40.1Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 25.00; the largest put concentration is 20.00. The most active strike by current volume is 25.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
2
14.00-32.7%
2
0
15.00-27.9%
17
22
19.00-8.7%
6
603
20.00-3.9%
167
12
21.000.9%
7
3
22.005.7%
124
10
23.0010.5%
53
5
24.0015.3%
143
56
25.0020.1%
463
0
26.0024.9%
31
0
27.0029.7%
46
0
28.0034.6%
24
0
29.0039.4%
5
0
30.0044.2%
104
1
32.0053.8%
1
0
35.0068.2%
10
1
36.0073.0%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.25× front/back

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

0.95 21 Aug 21d
0.90 18 Sep 49d
0.66 16 Oct 77d
0.82 20 Nov 112d
0.82 15 Jan 168d
0.76 21 Jan 539d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

18
19
20
21
22
23
24
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 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

High

A99/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
159 / 159
  • 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

84/100
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 Bullish flow against weak price

Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $338706 of estimated gross traded notional, calls · 91+ days · otm, 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+44
1W price-8.7%
Call premium50%
Put premium50%
Notional split C 50% / P 50% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.08 Volume divided by open interest across the visible chain.
Trend fit 21/100 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 · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 400 contracts traded, $86344 estimated gross traded notional, and 25% of visible notional.
$86344
Puts · 8-21 days · ITM puts cluster with 69 contracts traded, $54685 estimated gross traded notional, and 16% of visible notional.
$54685
Puts · 91+ days · ITM puts cluster with 38 contracts traded, $51334 estimated gross traded notional, and 15% of visible notional.
$51334
Calls · 91+ days · ITM calls cluster with 59 contracts traded, $36057 estimated gross traded notional, and 11% of visible notional.
$36057
Calls · 46-90 days · ITM calls cluster with 46 contracts traded, $26872 estimated gross traded notional, and 8% of visible notional.
$26872

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

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

Negative Options disagreement

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

Sharemaestro weekly
Close20.81
1W-8.7%
RS-0.5
Fair value+16.8%
Options pressure44
Speculation30
Volatility96
Trend fit21

Today Versus Normal

Stored-options context

View history
Expected move 14.5% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.95 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.50 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.08 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:04 Mixed
Pressure 13
Move 15.3%
30 Jul 10:52 Bearish
Pressure -31
Move 25.3%
31 Jul 13:03 Volatility
Pressure -72
Move 24.0%
31 Jul 14:17 Bullish
Pressure 41
Move 27.1%
31 Jul 15:40 Bullish
Pressure 42
Move 15.5%
31 Jul 17:05 Bullish
Pressure 44
Move 14.5%

Strike Map

Where activity is clustering

Full strike map
Strike14.00
Calls · V 7 · OI 2
Puts · V 0 · OI 2
Strike15.00
Calls · V 2 · OI 17
Puts · V 0 · OI 0
Strike16.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike18.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike19.00
Calls · V 2 · OI 6
Puts · V 4 · OI 22
Strike20.00
Calls · V 1 · OI 167
Puts · V 6 · OI 603
Strike21.00
Calls · V 1 · OI 7
Puts · V 1 · OI 12
Strike22.00
Calls · V 7 · OI 124
Puts · V 5 · OI 3

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts34
Avg IV0.95
Put-call1.13
Expiry18 Sep 2026
Contracts22
Avg IV0.90
Put-call0.30
Expiry16 Oct 2026
Contracts23
Avg IV0.66
Put-call1.62
Expiry20 Nov 2026
Contracts8
Avg IV0.82
Put-call-
Expiry15 Jan 2027
Contracts47
Avg IV0.82
Put-call0.25

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV0.78
Put IV0.78
Skew0.00
18 Sep 2026Put IV premium
Call IV0.73
Put IV0.83
Skew0.11
16 Oct 2026Call IV premium
Call IV0.75
Put IV0.68
Skew-0.07
20 Nov 2026Balanced skew
Call IV0.79
Put IV0.76
Skew-0.03
15 Jan 2027Call IV premium
Call IV0.86
Put IV0.78
Skew-0.07

Contract Tape

Most active contracts

Full contract tape
ContractSNDX260918P00018000
SidePut
Expiry18 Sep 2026
Strike18.00
Volume-
OI23
IV0.68
ContractSNDX260821P00023000
SidePut
Expiry21 Aug 2026
Strike23.00
Volume-
OI10
IV1.74
ContractSNDX270115C00012000
SideCall
Expiry15 Jan 2027
Strike12.00
Volume-
OI10
IV1.03
ContractSNDX260821C00035000
SideCall
Expiry21 Aug 2026
Strike35.00
Volume-
OI10
IV2.38
ContractSNDX261120C00033000
SideCall
Expiry20 Nov 2026
Strike33.00
Volume-
OI6
IV1.07
ContractSNDX260918C00017000
SideCall
Expiry18 Sep 2026
Strike17.00
Volume-
OI4
IV1.63
ContractSNDX270115P00009000
SidePut
Expiry15 Jan 2027
Strike9.00
Volume-
OI2
IV1.28
ContractSNDX261016C00028000
SideCall
Expiry16 Oct 2026
Strike28.00
Volume-
OI2
IV0.79