Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
KODK options intelligence
Eastman Kodak Co options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
59
Market data through 16 Sep 2026
Checked 17 Sep 2026 13:07 · complete available chain
Volatility expansion watch
Volatility pressure
KODK currently carries volatility options pressure with a 59/100 conviction score. The nearest-chain expected move is 4.8%, with volume/open-interest participation at 0.05.
Expected move
4.8%
Near-term move context
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
0.03
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+2.6%
RS 1.6
Expected move
4.8%
Put-call volume
0.03
Volume / OI
0.05
Reference IV
1.08
Max pain
9.00
Underlying
9.31
Nearest expiry
18 Sep 2026
Contracts
154
Research Brief
KODK has a volatility chain read with 59/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 8.86–9.76; The largest call open-interest concentration is 10.00; the largest put concentration is 9.00. The most active strike by current volume is 9.00.
Priced range8.86–9.76
Call concentration10.00
Put concentration9.00
Max pain reference9.00
- A clear directional pressure reading develops and price begins to agree.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- 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 8.86 to 9.76. Max pain at 9.00 sits inside that range, 3.3% below spot.
Spot
Max pain
8.869.31 ± 0.459.76
Confirmation level
A close beyond 9.76 or below 8.86 at the 18 Sep 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 59/100
Pressure is 100/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure100 × 42%
+42.0
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.1
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.
Volatility75 × 10%
+7.5
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 9.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
1.00-89.3%
5
0
2.50-73.1%
4
0
4.00-57.0%
3
0
5.00-46.3%
16
0
6.00-35.6%
4
12
7.50-19.4%
214
222
9.00-3.3%
524
75
10.007.4%
1338
6
11.0018.2%
321
6
12.5034.3%
119
2
14.0050.4%
19
4
15.0061.1%
27
4
16.0071.9%
0
0
17.5088.0%
0
2
19.00104.1%
0
0
20.00114.8%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$183,317Delta change / 1% move
Positive peak10.00+$130,985
Negative peak5.00-$457
Nearest balance5.98Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.50-73.1%
+$30
4.00-57.0%
+$3
5.00-46.3%
-$457
6.00-35.6%
+$9
7.50-19.4%
+$7,240
9.00-3.3%
+$6,534
10.007.4%
+$130,985
11.0018.2%
+$5,698
12.5034.3%
+$23,583
13.0039.6%
+$487
14.0050.4%
+$1,346
15.0061.1%
+$4,173
16.0071.9%
+$28
17.5088.0%
+$1,607
19.00104.1%
+$10
20.00114.8%
+$1,398
22.50141.7%
+$117
25.00168.5%
+$527
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.08
18 Sep
2d
0.54
16 Oct
30d
0.59
15 Jan
121d
0.65
16 Apr
212d
0.59
21 Jan
492d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
8
9
10
11
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 13 stored directional transitions, the next stored price moved in the labelled direction 69% of the time.
Directional follow-through69%
Moves contained by pricing83%
Average expiry move6.7%
16 Sep
Volatility · 59
2.6% through expiry
4.8% priced · v2.0
14 Sep
Bullish · 36
2.6% through expiry
6.5% priced · v2.0
11 Sep
Bullish · 44
2.8% through expiry
8.3% priced · v2.0
10 Sep
Bullish · 43
2.8% through expiry
5.9% priced · v2.0
9 Sep
Bullish · 40
2.8% through expiry
6.2% priced · v2.0
8 Sep
Volatility · 48
2.8% through expiry
7.5% priced · v2.0
4 Sep
Bullish · 49
2.8% through expiry
8.7% priced · v2.0
2 Sep
Bullish · 57
5.6% through expiry
8.8% priced · v2.0
31 Aug
Bullish · 47
5.6% through expiry
8.0% priced · v2.0
21 Aug
Bullish · 46
-4.5% through expiry
11.8% priced · v2.0
19 Aug
Volatility · 51
-1.6% through expiry
6.0% priced · v2.0
17 Aug
Volatility · 49
-1.6% through expiry
7.0% priced · v2.0
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. 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
- 16 Sep 2026
- Calculation
- v2.0
- Contracts
- 154 / 154
- 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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $81,898 of estimated gross traded notional, calls · 22-45 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+100
1W price+2.6%
Call premium99%
Put premium1%
Notional split
C 99% / P 1%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
0/100
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 · 22-45 days · ITM
calls cluster with 746 contracts traded, $59,008 estimated gross traded notional, and 72% of visible notional.
$59,008
Calls · 0-7 days · ITM
calls cluster with 320 contracts traded, $16,980 estimated gross traded notional, and 21% of visible notional.
$16,980
Calls · 91+ days · OTM
calls cluster with 33 contracts traded, $2,580 estimated gross traded notional, and 3% of visible notional.
$2,580
Calls · 22-45 days · OTM
calls cluster with 72 contracts traded, $1,800 estimated gross traded notional, and 2% of visible notional.
$1,800
Puts · 22-45 days · ITM
puts cluster with 10 contracts traded, $1,025 estimated gross traded notional, and 1% of visible notional.
$1,025
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Baseline: 24 completed sessions
Volume rank83th
Volume/OI rank83th
IV rank96th
Market Context
Underlying confirmation
Close9.55
1W+2.6%
RS1.6
Fair value+47.3%
Options pressure100
Speculation41
Volatility75
Trend fit0
Today Versus Normal
Stored-options context
30d avg 7.7% · 11 sessions
0th
90d avg - · 24/30 sessions
-
180d avg - · 24/60 sessions
-
30d avg 0.68 · 11 sessions
91th
90d avg - · 24/30 sessions
-
180d avg - · 24/60 sessions
-
30d avg 0.21 · 11 sessions
9th
90d avg - · 24/30 sessions
-
180d avg - · 24/60 sessions
-
30d avg 0.02 · 11 sessions
91th
90d avg - · 24/30 sessions
-
180d avg - · 24/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:13
Volatility
Pressure 100
Move 17.0%
30 Jul 11:00
Volatility
Pressure 100
Move 19.5%
31 Jul 10:41
Volatility
Pressure 92
Move 19.7%
3 Aug 12:50
Volatility
Pressure 100
Move 17.9%
4 Aug 08:04
Bullish
Pressure 62
Move 16.7%
4 Aug 14:09
Bullish
Pressure 42
Move 16.6%
6 Aug 10:20
Volatility
Pressure 100
Move 14.9%
6 Aug 18:24
Volatility
Pressure 86
Move 12.5%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 4 · OI 5
Puts · V 0 · OI 0
Strike2.50
Calls · V 0 · OI 4
Puts · V 0 · OI 0
Strike4.00
Calls · V 2 · OI 3
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 16
Puts · V 0 · OI 0
Strike6.00
Calls · V 0 · OI 4
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 214
Puts · V 0 · OI 12
Strike9.00
Calls · V 314 · OI 524
Puts · V 28 · OI 222
Strike10.00
Calls · V 66 · OI 1338
Puts · V 0 · OI 75
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts32
Avg IV1.08
Put-call0.07
Expiry16 Oct 2026
Contracts34
Avg IV0.54
Put-call0.01
Expiry15 Jan 2027
Contracts34
Avg IV0.59
Put-call-
Expiry16 Apr 2027
Contracts34
Avg IV0.65
Put-call-
Expiry21 Jan 2028
Contracts20
Avg IV0.59
Put-call-
Skew
Call/put IV balance
18 Sep 2026Call IV premium
Call IV0.52
Put IV0.43
Skew-0.09
16 Oct 2026Put IV premium
Call IV0.49
Put IV0.57
Skew0.08
15 Jan 2027Put IV premium
Call IV0.55
Put IV0.68
Skew0.13
16 Apr 2027Balanced skew
Call IV0.61
Put IV0.62
Skew0.01
21 Jan 2028Put IV premium
Call IV0.63
Put IV0.72
Skew0.09
Contract Tape
Most active contracts
ContractKODK261016C00009000
SideCall
Expiry16 Oct 2026
Strike9.00
Volume743
OI387
IV0.49
ContractKODK260918C00009000
SideCall
Expiry18 Sep 2026
Strike9.00
Volume314
OI524
IV0.01
ContractKODK260918C00010000
SideCall
Expiry18 Sep 2026
Strike10.00
Volume66
OI1338
IV0.52
ContractKODK261016C00010000
SideCall
Expiry16 Oct 2026
Strike10.00
Volume48
OI4445
IV0.51
ContractKODK260918P00009000
SidePut
Expiry18 Sep 2026
Strike9.00
Volume28
OI222
IV0.43
ContractKODK261016C00011000
SideCall
Expiry16 Oct 2026
Strike11.00
Volume24
OI96
IV0.49
ContractKODK260918C00011000
SideCall
Expiry18 Sep 2026
Strike11.00
Volume18
OI321
IV1.12
ContractKODK270115C00012500
SideCall
Expiry15 Jan 2027
Strike12.50
Volume10
OI1620
IV0.55
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.