Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
BHVN options intelligence
Biohaven Ltd. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 29 Jul 2026
Checked 30 Jul 2026 03:49 · complete available chain
Options-market disagreement
Mixed pressure
BHVN currently carries mixed options pressure with a 42/100 conviction score. The nearest-chain expected move is 17.2%, with volume/open-interest participation at 0.01.
Expected move
17.2%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.87
Balanced tape
Trend fit
91
Options agree with trend context
Weekly backdrop
-7.3%
RS 7.3
Expected move
17.2%
Put-call volume
0.87
Volume / OI
0.01
Reference IV
0.56
Max pain
13.00
Underlying
14.32
Nearest expiry
21 Aug 2026
Contracts
290
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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $162758 of estimated gross traded notional, calls · 91+ days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+16
1W price-7.3%
Call premium60%
Put premium40%
Notional split
C 60% / P 40%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
91/100
Agreement between options pressure and Sharemaestro market context.
Event window
10 Aug
Matched earnings event is 11 days away.
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 · OTM
calls cluster with 243 contracts traded, $66415 estimated gross traded notional, and 41% of visible notional.
$66415
Puts · 46-90 days · ATM
puts cluster with 151 contracts traded, $27935 estimated gross traded notional, and 17% of visible notional.
$27935
Calls · 91+ days · ITM
calls cluster with 37 contracts traded, $24440 estimated gross traded notional, and 15% of visible notional.
$24440
Puts · 22-45 days · ITM
puts cluster with 12 contracts traded, $13515 estimated gross traded notional, and 8% of visible notional.
$13515
Puts · 46-90 days · OTM
puts cluster with 52 contracts traded, $10500 estimated gross traded notional, and 6% of visible notional.
$10500
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Volume rank0th
Volume/OI rank0th
IV rank0th
Market Context
Underlying confirmation
Close14.32
1W-7.3%
RS7.3
Fair value-47.3%
Options pressure16
Speculation16
Volatility79
Trend fit91
Today Versus Normal
Stored-options context
30d avg 17.6% · 1 read
0th
90d avg 17.6% · 1 read
0th
180d avg 17.6% · 1 read
0th
30d avg 0.87 · 1 read
0th
90d avg 0.87 · 1 read
0th
180d avg 0.87 · 1 read
0th
30d avg 1.82 · 1 read
0th
90d avg 1.82 · 1 read
0th
180d avg 1.82 · 1 read
0th
30d avg 0.02 · 1 read
0th
90d avg 0.02 · 1 read
0th
180d avg 0.02 · 1 read
0th
Pressure Trail
Recent pressure and volatility
29 Jul 11:05
Volatility
Pressure -20
Move 17.6%
30 Jul 02:49
Mixed
Pressure 16
Move 17.2%
Strike Map
Where activity is clustering
Strike4.00
Calls · V 0 · OI 4
Puts · V 0 · OI 0
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 2
Puts · V 0 · OI 0
Strike8.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike9.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 4 · OI 29
Puts · V 0 · OI 16
Strike11.00
Calls · V 0 · OI 50
Puts · V 0 · OI 24
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts54
Avg IV0.56
Put-call1.36
Expiry18 Sep 2026
Contracts34
Avg IV1.02
Put-call6.22
Expiry16 Oct 2026
Contracts50
Avg IV0.92
Put-call30.60
Expiry18 Dec 2026
Contracts60
Avg IV1.23
Put-call-
Expiry15 Jan 2027
Contracts64
Avg IV1.21
Put-call0.03
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV1.17
Put IV0.99
Skew-0.18
18 Sep 2026Call IV premium
Call IV1.09
Put IV0.98
Skew-0.11
16 Oct 2026Call IV premium
Call IV1.11
Put IV1.04
Skew-0.07
18 Dec 2026Call IV premium
Call IV1.19
Put IV1.00
Skew-0.19
15 Jan 2027Call IV premium
Call IV1.32
Put IV1.19
Skew-0.14
Contract Tape
Most active contracts
ContractBHVN261016P00014000
SidePut
Expiry16 Oct 2026
Strike14.00
Volume151
OI2479
IV0.64
ContractBHVN270115C00030000
SideCall
Expiry15 Jan 2027
Strike30.00
Volume120
OI3987
IV1.22
ContractBHVN270115C00015000
SideCall
Expiry15 Jan 2027
Strike15.00
Volume110
OI4289
IV1.23
ContractBHVN260821P00013000
SidePut
Expiry21 Aug 2026
Strike13.00
Volume91
OI695
IV0.09
ContractBHVN260821C00015000
SideCall
Expiry21 Aug 2026
Strike15.00
Volume70
OI574
IV0.74
ContractBHVN260918P00013000
SidePut
Expiry18 Sep 2026
Strike13.00
Volume50
OI-
IV1.18
ContractBHVN280121C00010000
SideCall
Expiry21 Jan 2028
Strike10.00
Volume33
OI1607
IV0.86
ContractBHVN280121C00020000
SideCall
Expiry21 Jan 2028
Strike20.00
Volume13
OI1218
IV0.86
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.