Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
OMER options intelligence
Omeros Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
52
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:43 · complete available chain
Volatility expansion watch
Volatility pressure
OMER currently carries volatility options pressure with a 52/100 conviction score. The nearest-chain expected move is 29.9%, with volume/open-interest participation at 0.03.
Expected move
29.9%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.15
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+20.9%
RS 13.2
Expected move
29.9%
Put-call volume
0.15
Volume / OI
0.03
Reference IV
1.20
Max pain
10.00
Underlying
9.79
Nearest expiry
21 Aug 2026
Contracts
364
Research Brief
OMER has a volatility chain read with 52/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 6.87–12.71; The largest call open-interest concentration is 10.00; the largest put concentration is 9.00. The most active strike by current volume is 10.00.
Priced range6.87–12.71
Call concentration10.00
Put concentration9.00
Max pain reference10.00
- 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 6.87 to 12.71. Max pain at 10.00 sits inside that range, 2.1% above spot.
Spot
Max pain
6.879.79 ± 2.9212.71
Confirmation level
A close beyond 12.71 or below 6.87 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 52/100
Pressure is 81/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure81 × 42%
+33.9
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
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 10.00; the largest put concentration is 9.00. The most active strike by current volume is 10.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
957
7.00-28.5%
15
1168
8.00-18.3%
844
8627
9.00-8.1%
568
1993
10.002.1%
11252
811
11.0012.4%
2834
939
12.0022.6%
2255
122
13.0032.8%
2104
230
14.0043.0%
2897
101
15.0053.2%
2769
59
16.0063.4%
567
0
17.0073.6%
427
0
18.0083.9%
379
0
20.00104.3%
2450
0
21.00114.5%
611
0
25.00155.4%
3891
0
30.00206.4%
2459
0
35.00257.5%
357
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.
1.20
21 Aug
22d
0.98
18 Sep
50d
0.97
20 Nov
113d
0.97
18 Dec
141d
0.91
15 Jan
169d
0.99
19 Feb
204d
0.89
21 Jan
540d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
8
9
10
11
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 364 / 364
- 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: $923895 of estimated gross traded notional, calls · 91+ days · itm, 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+81
1W price+20.9%
Call premium95%
Put premium5%
Notional split
C 95% / P 5%
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
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
13 Aug
Matched earnings event is 12 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 · ITM
calls cluster with 504 contracts traded, $477560 estimated gross traded notional, and 52% of visible notional.
$477560
Calls · 8-21 days · ATM
calls cluster with 1272 contracts traded, $308460 estimated gross traded notional, and 33% of visible notional.
$308460
Calls · 8-21 days · OTM
calls cluster with 705 contracts traded, $55280 estimated gross traded notional, and 6% of visible notional.
$55280
Calls · 91+ days · OTM
calls cluster with 267 contracts traded, $37510 estimated gross traded notional, and 4% of visible notional.
$37510
Puts · 8-21 days · ITM
puts cluster with 131 contracts traded, $25168 estimated gross traded notional, and 3% of visible notional.
$25168
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.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close11.84
1W+20.9%
RS13.2
Fair value+84.5%
Options pressure81
Speculation41
Volatility96
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:18
Volatility
Pressure 80
Move 27.6%
30 Jul 11:03
Volatility
Pressure 88
Move 27.1%
31 Jul 10:43
Volatility
Pressure 81
Move 29.9%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike2.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike3.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike4.00
Calls · V 0 · OI 28
Puts · V 0 · OI 1
Strike5.00
Calls · V 0 · OI 90
Puts · V 0 · OI 175
Strike6.00
Calls · V 0 · OI 3
Puts · V 4 · OI 114
Strike7.00
Calls · V 0 · OI 15
Puts · V 0 · OI 957
Strike8.00
Calls · V 0 · OI 844
Puts · V 0 · OI 1168
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts70
Avg IV1.20
Put-call0.19
Expiry18 Sep 2026
Contracts40
Avg IV0.98
Put-call0.64
Expiry20 Nov 2026
Contracts50
Avg IV0.97
Put-call0.33
Expiry18 Dec 2026
Contracts64
Avg IV0.97
Put-call0.06
Expiry15 Jan 2027
Contracts64
Avg IV0.91
Put-call0.03
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV1.01
Put IV1.29
Skew0.28
18 Sep 2026Balanced skew
Call IV1.23
Put IV1.20
Skew-0.04
20 Nov 2026Put IV premium
Call IV0.86
Put IV0.98
Skew0.12
18 Dec 2026Put IV premium
Call IV1.03
Put IV1.13
Skew0.10
15 Jan 2027Put IV premium
Call IV0.86
Put IV0.92
Skew0.06
Contract Tape
Most active contracts
ContractOMER260821C00010000
SideCall
Expiry21 Aug 2026
Strike10.00
Volume1272
OI11252
IV1.13
ContractOMER270219C00002000
SideCall
Expiry19 Feb 2027
Strike2.00
Volume258
OI327
IV1.40
ContractOMER260821P00010000
SidePut
Expiry21 Aug 2026
Strike10.00
Volume199
OI1993
IV1.17
ContractOMER260821C00015000
SideCall
Expiry21 Aug 2026
Strike15.00
Volume182
OI2769
IV1.01
ContractOMER261218C00016000
SideCall
Expiry18 Dec 2026
Strike16.00
Volume169
OI42
IV0.87
ContractOMER260821C00012000
SideCall
Expiry21 Aug 2026
Strike12.00
Volume157
OI2255
IV1.05
ContractOMER260821C00013000
SideCall
Expiry21 Aug 2026
Strike13.00
Volume145
OI2104
IV1.10
ContractOMER260821C00011000
SideCall
Expiry21 Aug 2026
Strike11.00
Volume96
OI2834
IV1.04
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.