Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
AMLX options intelligence
Amylyx Pharmaceuticals Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
55
Market data through 31 Jul 2026
Checked 1 Aug 2026 16:23 · complete available chain
Volatility expansion watch
Volatility pressure
AMLX currently carries volatility options pressure with a 55/100 conviction score. The nearest-chain expected move is 51.2%, with volume/open-interest participation at 0.02.
Expected move
51.2%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
9.55
Put-side skew
Trend fit
20
Options are not fully confirming trend
Weekly backdrop
+10.3%
RS 32.4
Expected move
51.2%
Put-call volume
9.55
Volume / OI
0.02
Reference IV
2.62
Max pain
18.00
Underlying
20.31
Nearest expiry
21 Aug 2026
Contracts
346
Research Brief
AMLX has a volatility chain read with 55/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 9.91–30.71; The largest call open-interest concentration is 18.00; the largest put concentration is 5.00. The most active strike by current volume is 16.00.
Priced range9.91–30.71
Call concentration18.00
Put concentration5.00
Max pain reference18.00
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- 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 9.91 to 30.71. Max pain at 18.00 sits inside that range, 11.4% below spot.
Spot
Max pain
9.9120.31 ± 10.4030.71
Confirmation level
A close beyond 30.71 or below 9.91 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 55/100
Pressure is 75/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure75 × 42%
+31.6
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement20 × 26%
+5.1
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 18.00; the largest put concentration is 5.00. The most active strike by current volume is 16.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
38
3.00-85.2%
0
27
4.00-80.3%
0
386
5.00-75.4%
1
22
6.00-70.5%
0
67
7.00-65.5%
0
7
12.00-40.9%
6
69
14.00-31.1%
3
52
15.00-26.1%
2
19
16.00-21.2%
2
76
17.00-16.3%
76
158
18.00-11.4%
636
3
19.00-6.5%
31
3
20.00-1.5%
336
1
21.003.4%
151
0
28.0037.9%
191
0
32.0057.6%
15
0
33.0062.5%
179
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.
2.62
21 Aug
21d
2.73
18 Sep
49d
1.82
20 Nov
112d
1.67
18 Dec
140d
1.57
15 Jan
168d
1.48
19 Feb
203d
1.40
19 Mar
231d
1.06
17 Dec
504d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
17
18
19
20
21
22
23
24
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 346 / 346
- 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 pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $206052 of estimated gross traded notional, puts · 8-21 days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-75
1W price+10.3%
Call premium22%
Put premium78%
Notional split
C 22% / P 78%
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
20/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 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 · 8-21 days · OTM
puts cluster with 593 contracts traded, $154072 estimated gross traded notional, and 75% of visible notional.
$154072
Calls · 46-90 days · OTM
calls cluster with 31 contracts traded, $23455 estimated gross traded notional, and 11% of visible notional.
$23455
Calls · 46-90 days · ATM
calls cluster with 20 contracts traded, $16200 estimated gross traded notional, and 8% of visible notional.
$16200
Puts · 46-90 days · OTM
puts cluster with 12 contracts traded, $4432 estimated gross traded notional, and 2% of visible notional.
$4432
Calls · 8-21 days · ATM
calls cluster with 6 contracts traded, $3150 estimated gross traded notional, and 2% of visible notional.
$3150
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
Close20.31
1W+10.3%
RS32.4
Fair value+108.9%
Options pressure-75
Speculation40
Volatility96
Trend fit20
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 11:06
Volatility
Pressure 98
Move 48.9%
30 Jul 10:54
Volatility
Pressure 73
Move 54.6%
31 Jul 11:07
Volatility
Pressure 14
Move 51.9%
31 Jul 13:39
Mixed
Pressure -13
Move 48.2%
31 Jul 14:13
Volatility
Pressure -13
Move 50.9%
1 Aug 15:23
Volatility
Pressure -75
Move 51.2%
Strike Map
Where activity is clustering
Strike3.00
Calls · V 0 · OI 0
Puts · V 0 · OI 38
Strike4.00
Calls · V 0 · OI 0
Puts · V 0 · OI 27
Strike5.00
Calls · V 0 · OI 1
Puts · V 0 · OI 386
Strike6.00
Calls · V 0 · OI 0
Puts · V 0 · OI 22
Strike7.00
Calls · V 0 · OI 0
Puts · V 0 · OI 67
Strike8.00
Calls · V 0 · OI 4
Puts · V 0 · OI 6
Strike9.00
Calls · V 0 · OI 1
Puts · V 0 · OI 2
Strike10.00
Calls · V 0 · OI 1
Puts · V 0 · OI 9
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts66
Avg IV2.62
Put-call49.42
Expiry18 Sep 2026
Contracts48
Avg IV2.73
Put-call0.27
Expiry20 Nov 2026
Contracts46
Avg IV1.82
Put-call4.00
Expiry18 Dec 2026
Contracts42
Avg IV1.67
Put-call-
Expiry15 Jan 2027
Contracts42
Avg IV1.57
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV1.81
Put IV2.61
Skew0.80
18 Sep 2026Put IV premium
Call IV1.78
Put IV2.81
Skew1.03
20 Nov 2026Put IV premium
Call IV1.21
Put IV1.90
Skew0.68
18 Dec 2026Put IV premium
Call IV1.19
Put IV1.72
Skew0.54
15 Jan 2027Put IV premium
Call IV1.29
Put IV1.54
Skew0.24
Contract Tape
Most active contracts
ContractAMLX260821P00016000
SidePut
Expiry21 Aug 2026
Strike16.00
Volume590
OI19
IV2.61
ContractAMLX260918C00021000
SideCall
Expiry18 Sep 2026
Strike21.00
Volume30
OI34
IV2.75
ContractAMLX260918C00020000
SideCall
Expiry18 Sep 2026
Strike20.00
Volume20
OI3870
IV2.81
ContractAMLX260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume6
OI336
IV2.68
ContractAMLX260918P00015000
SidePut
Expiry18 Sep 2026
Strike15.00
Volume5
OI184
IV2.71
ContractAMLX260821C00033000
SideCall
Expiry21 Aug 2026
Strike33.00
Volume3
OI179
IV1.86
ContractAMLX260918P00010000
SidePut
Expiry18 Sep 2026
Strike10.00
Volume3
OI46
IV2.94
ContractAMLX260821C00028000
SideCall
Expiry21 Aug 2026
Strike28.00
Volume2
OI191
IV1.84
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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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.