Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
BAC options intelligence
Bank of America Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
39
Market data through 31 Jul 2026
Checked 2 Aug 2026 19:35 · complete available chain
Call-side pressure
Bullish pressure
BAC currently carries bullish options pressure with a 39/100 conviction score. The nearest-chain expected move is 2.1%, with volume/open-interest participation at 0.04.
Expected move
2.1%
Near-term move context
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
0.65
Call-side skew
Trend fit
75
Options agree with trend context
Weekly backdrop
-0.2%
RS 9.5
Expected move
2.1%
Put-call volume
0.65
Volume / OI
0.04
Reference IV
0.20
Max pain
60.00
Underlying
61.95
Nearest expiry
7 Aug 2026
Contracts
1016
Research Brief
BAC has a bullish chain read with 39/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 60.65–63.25; The largest call open-interest concentration is 64.00; the largest put concentration is 60.00. The most active strike by current volume is 63.00.
Priced range60.65–63.25
Call concentration64.00
Put concentration60.00
Max pain reference60.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 60.65 to 63.25. Max pain at 60.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
60.6561.95 ± 1.3063.25
Confirmation level
A close beyond 63.25 or below 60.65 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 39/100
Pressure is 19/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure19 × 42%
+8.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement75 × 26%
+19.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility23 × 10%
+2.3
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 64.00; the largest put concentration is 60.00. The most active strike by current volume is 63.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
303
51.00-17.7%
61
267
52.00-16.1%
53
152
53.00-14.4%
101
35
54.00-12.8%
40
711
55.00-11.2%
1086
660
56.00-9.6%
185
690
57.00-8.0%
97
2224
58.00-6.4%
1854
1456
59.00-4.8%
521
2476
60.00-3.1%
3841
1859
61.00-1.5%
1266
1368
62.000.1%
3353
314
63.001.7%
3703
70
64.003.3%
6837
11
65.004.9%
1492
1
66.006.5%
1230
0
68.009.8%
316
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.20
7 Aug
7d
0.21
14 Aug
14d
0.21
21 Aug
21d
0.21
28 Aug
28d
0.22
4 Sep
35d
0.22
11 Sep
42d
0.22
18 Sep
49d
0.25
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
50
51
52
54
55
56
57
58
60
61
62
63
64
66
67
68
69
70
72
73
74
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
- 1016 / 1016
- 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
Call-heavy activity with trend alignment
Call concentration and the underlying trend align, but aggregate volume cannot establish whether calls were bought or sold.
Call-side pressure is building before a meaningful weekly price response.
Call-heavy activity with trend alignment matters because it connects the options headline to the actual evidence: $11.8M of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+19
1W price-0.2%
Call premium69%
Put premium31%
Notional split
C 69% / P 31%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
Volume divided by open interest across the visible chain.
Trend fit
75/100
Agreement between options pressure and Sharemaestro market context.
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 6064 contracts traded, $1.6M estimated gross traded notional, and 14% of visible notional.
$1.6M
Puts · 91+ days · ATM
puts cluster with 3627 contracts traded, $1.6M estimated gross traded notional, and 13% of visible notional.
$1.6M
Calls · 8-21 days · ITM
calls cluster with 1853 contracts traded, $1.5M estimated gross traded notional, and 12% of visible notional.
$1.5M
Calls · 91+ days · ATM
calls cluster with 3406 contracts traded, $1.5M estimated gross traded notional, and 12% of visible notional.
$1.5M
Calls · 0-7 days · ITM
calls cluster with 1544 contracts traded, $820798 estimated gross traded notional, and 7% of visible notional.
$820798
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close61.95
1W-0.2%
RS9.5
Fair value+48.0%
Options pressure19
Speculation41
Volatility23
Trend fit75
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 15:04
Mixed
Pressure -4
Move 1.8%
29 Jul 15:25
Mixed
Pressure -6
Move 1.8%
29 Jul 15:50
Mixed
Pressure -12
Move 1.8%
29 Jul 16:10
Bearish
Pressure -19
Move 2.1%
29 Jul 16:32
Bearish
Pressure -23
Move 2.0%
29 Jul 17:00
Bearish
Pressure -24
Move 1.9%
29 Jul 17:20
Bearish
Pressure -24
Move 1.9%
29 Jul 17:42
Bearish
Pressure -20
Move 1.9%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 8 · OI 33
Puts · V 0 · OI 0
Strike35.00
Calls · V 11 · OI 29
Puts · V 0 · OI 0
Strike40.00
Calls · V 3 · OI 45
Puts · V 0 · OI 0
Strike45.00
Calls · V 14 · OI 3
Puts · V 0 · OI 11
Strike46.00
Calls · V 2 · OI 4
Puts · V 0 · OI 1
Strike47.00
Calls · V 0 · OI 4
Puts · V 0 · OI 16
Strike48.00
Calls · V 0 · OI 5
Puts · V 0 · OI 2
Strike49.00
Calls · V 1 · OI 10
Puts · V 0 · OI 2
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts66
Avg IV0.20
Put-call0.40
Expiry14 Aug 2026
Contracts66
Avg IV0.21
Put-call0.83
Expiry21 Aug 2026
Contracts92
Avg IV0.21
Put-call1.59
Expiry28 Aug 2026
Contracts64
Avg IV0.21
Put-call1.00
Expiry4 Sep 2026
Contracts58
Avg IV0.22
Put-call0.49
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.19
Put IV0.20
Skew0.01
14 Aug 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
21 Aug 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
28 Aug 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
4 Sep 2026Balanced skew
Call IV0.20
Put IV0.25
Skew0.05
Contract Tape
Most active contracts
ContractBAC260807C00063000
SideCall
Expiry7 Aug 2026
Strike63.00
Volume9412
OI3703
IV0.19
ContractBAC260807C00065000
SideCall
Expiry7 Aug 2026
Strike65.00
Volume8736
OI1492
IV0.21
ContractBAC260807P00061000
SidePut
Expiry7 Aug 2026
Strike61.00
Volume4709
OI1859
IV0.20
ContractBAC270115C00062500
SideCall
Expiry15 Jan 2027
Strike62.50
Volume3271
OI21945
IV0.24
ContractBAC270115P00062500
SidePut
Expiry15 Jan 2027
Strike62.50
Volume3186
OI1630
IV0.27
ContractBAC270115C00065000
SideCall
Expiry15 Jan 2027
Strike65.00
Volume2637
OI21430
IV0.24
ContractBAC260807C00062000
SideCall
Expiry7 Aug 2026
Strike62.00
Volume2344
OI3353
IV0.19
ContractBAC260807P00062000
SidePut
Expiry7 Aug 2026
Strike62.00
Volume1745
OI1368
IV0.19
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.