Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
ED options intelligence
Consolidated Edison Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:03 · complete available chain
Options-market disagreement
Mixed pressure
ED currently carries mixed options pressure with a 37/100 conviction score. The nearest-chain expected move is 6.2%, with volume/open-interest participation at 0.03.
Expected move
6.2%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
1.11
Balanced tape
Trend fit
89
Options agree with trend context
Weekly backdrop
-3.7%
RS -3.7
Expected move
6.2%
Put-call volume
1.11
Volume / OI
0.03
Reference IV
0.24
Max pain
110.00
Underlying
113.01
Nearest expiry
21 Aug 2026
Contracts
280
Research Brief
ED has a mixed chain read with 37/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 106.01–120.01; The largest call open-interest concentration is 115.00; the largest put concentration is 95.00. The most active strike by current volume is 105.00.
Priced range106.01–120.01
Call concentration115.00
Put concentration95.00
Max pain reference110.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 106.01 to 120.01. Max pain at 110.00 sits inside that range, 2.7% below spot.
Spot
Max pain
106.01113.01 ± 7.00120.01
Confirmation level
A close beyond 120.01 or below 106.01 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 37/100
Pressure is 2/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure2 × 42%
+1.0
How strongly activity leans toward calls or puts.
Participation41 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement89 × 26%
+23.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility42 × 10%
+4.2
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 115.00; the largest put concentration is 95.00. The most active strike by current volume is 105.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
2
70.00-38.1%
0
2
75.00-33.6%
0
30
80.00-29.2%
3
44
85.00-24.8%
0
58
90.00-20.4%
0
19
92.50-18.1%
7
540
95.00-15.9%
2
197
97.50-13.7%
9
141
100.00-11.5%
47
162
105.00-7.1%
159
263
110.00-2.7%
1123
22
115.001.8%
1391
7
120.006.2%
710
0
125.0010.6%
433
0
130.0015.0%
116
0
135.0019.5%
41
0
140.0023.9%
85
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.
0.24
21 Aug
22d
0.20
18 Sep
50d
0.22
20 Nov
113d
0.21
15 Jan
169d
0.21
19 Feb
204d
0.21
21 Jan
540d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
93
95
98
100
105
110
115
120
125
130
135
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
- 280 / 280
- 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.
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: $195660 of estimated gross traded notional, calls · 91+ days · itm, 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+2
1W price-3.7%
Call premium82%
Put premium18%
Notional split
C 82% / P 18%
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
89/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 4 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 79 contracts traded, $140645 estimated gross traded notional, and 72% of visible notional.
$140645
Puts · 91+ days · OTM
puts cluster with 96 contracts traded, $19628 estimated gross traded notional, and 10% of visible notional.
$19628
Puts · 46-90 days · OTM
puts cluster with 44 contracts traded, $13810 estimated gross traded notional, and 7% of visible notional.
$13810
Calls · 8-21 days · ITM
calls cluster with 30 contracts traded, $11800 estimated gross traded notional, and 6% of visible notional.
$11800
Calls · 91+ days · ATM
calls cluster with 9 contracts traded, $3638 estimated gross traded notional, and 2% of visible notional.
$3638
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close108.85
1W-3.7%
RS-3.7
Fair value+14.9%
Options pressure2
Speculation41
Volatility42
Trend fit89
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 10:11
Bullish
Pressure 63
Move 4.8%
30 Jul 10:07
Bullish
Pressure 75
Move 5.0%
31 Jul 10:03
Mixed
Pressure 2
Move 6.2%
Strike Map
Where activity is clustering
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike80.00
Calls · V 0 · OI 3
Puts · V 0 · OI 30
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 44
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 58
Strike92.50
Calls · V 0 · OI 7
Puts · V 0 · OI 19
Strike95.00
Calls · V 0 · OI 2
Puts · V 0 · OI 540
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts38
Avg IV0.24
Put-call0.62
Expiry18 Sep 2026
Contracts42
Avg IV0.20
Put-call7.33
Expiry20 Nov 2026
Contracts44
Avg IV0.22
Put-call2.37
Expiry15 Jan 2027
Contracts60
Avg IV0.21
Put-call0.86
Expiry19 Feb 2027
Contracts42
Avg IV0.21
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
18 Sep 2026Balanced skew
Call IV0.17
Put IV0.22
Skew0.05
20 Nov 2026Put IV premium
Call IV0.19
Put IV0.25
Skew0.06
15 Jan 2027Put IV premium
Call IV0.18
Put IV0.25
Skew0.07
19 Feb 2027Put IV premium
Call IV0.18
Put IV0.24
Skew0.06
Contract Tape
Most active contracts
ContractED261120P00100000
SidePut
Expiry20 Nov 2026
Strike100.00
Volume83
OI14
IV0.25
ContractED260918P00110000
SidePut
Expiry18 Sep 2026
Strike110.00
Volume40
OI8
IV0.22
ContractED260821P00105000
SidePut
Expiry21 Aug 2026
Strike105.00
Volume36
OI162
IV0.22
ContractED261120C00090000
SideCall
Expiry20 Nov 2026
Strike90.00
Volume30
OI60
IV0.01
ContractED270219C00090000
SideCall
Expiry19 Feb 2027
Strike90.00
Volume30
OI-
IV0.01
ContractED260821C00110000
SideCall
Expiry21 Aug 2026
Strike110.00
Volume16
OI1123
IV0.20
ContractED260821C00115000
SideCall
Expiry21 Aug 2026
Strike115.00
Volume15
OI1391
IV0.20
ContractED260821C00120000
SideCall
Expiry21 Aug 2026
Strike120.00
Volume15
OI710
IV0.15
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.