Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
GILD options intelligence
Gilead Sciences Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
35
Market data through 31 Jul 2026
Checked 1 Aug 2026 22:51 · complete available chain
Call-side pressure
Bullish pressure
GILD currently carries bullish options pressure with a 35/100 conviction score. The nearest-chain expected move is 5.1%, with volume/open-interest participation at 0.02.
Expected move
5.1%
Near-term move context
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.63
Call-side skew
Trend fit
32
Options are not fully confirming trend
Weekly backdrop
+0.7%
RS -6.3
Expected move
5.1%
Put-call volume
0.63
Volume / OI
0.02
Reference IV
0.48
Max pain
131.00
Underlying
130.21
Nearest expiry
7 Aug 2026
Contracts
1320
Research Brief
GILD has a bullish chain read with 35/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 123.55–136.87; The largest call open-interest concentration is 155.00; the largest put concentration is 130.00. The most active strike by current volume is 155.00.
Priced range123.55–136.87
Call concentration155.00
Put concentration130.00
Max pain reference131.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- 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 123.55 to 136.87. Max pain at 131.00 sits inside that range, 0.6% above spot.
Spot
Max pain
123.55130.21 ± 6.66136.87
Confirmation level
A close beyond 136.87 or below 123.55 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 35/100
Pressure is 29/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure29 × 42%
+12.3
How strongly activity leans toward calls or puts.
Participation40 × 22%
+8.9
Volume relative to existing open interest and contract-level activity.
Trend agreement32 × 26%
+8.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility54 × 10%
+5.4
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 155.00; the largest put concentration is 130.00. The most active strike by current volume is 155.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
215
120.00-7.8%
1
205
123.00-5.5%
0
155
125.00-4.0%
38
112
127.00-2.5%
3
214
128.00-1.7%
3
116
129.00-0.9%
11
3849
130.00-0.2%
49
19
131.000.6%
190
15
134.002.9%
240
72
135.003.7%
437
3
139.006.8%
188
20
140.007.5%
140
0
142.009.1%
169
0
144.0010.6%
179
0
145.0011.4%
130
0
150.0015.2%
331
0
155.0019.0%
3116
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.
0.48
7 Aug
7d
0.46
14 Aug
14d
0.38
21 Aug
21d
0.38
28 Aug
28d
0.35
4 Sep
35d
0.34
11 Sep
42d
0.35
18 Sep
49d
0.32
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.
105
111
113
115
118
120
122
124
126
128
131
133
135
137
139
141
143
146
148
150
155
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
- 1320 / 1320
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Call-side pressure is building before a meaningful weekly price response.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $1.1M 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+29
1W price+0.7%
Call premium68%
Put premium32%
Notional split
C 68% / P 32%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
32/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 2 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 279 contracts traded, $154178 estimated gross traded notional, and 14% of visible notional.
$154178
Calls · 22-45 days · ATM
calls cluster with 212 contracts traded, $119070 estimated gross traded notional, and 11% of visible notional.
$119070
Calls · 91+ days · ITM
calls cluster with 61 contracts traded, $111272 estimated gross traded notional, and 10% of visible notional.
$111272
Puts · 91+ days · OTM
puts cluster with 240 contracts traded, $109708 estimated gross traded notional, and 10% of visible notional.
$109708
Puts · 46-90 days · OTM
puts cluster with 275 contracts traded, $73372 estimated gross traded notional, and 7% of visible notional.
$73372
Setup Classification
Opportunity and risk frame
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.
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
Close130.21
1W+0.7%
RS-6.3
Fair value+34.9%
Options pressure29
Speculation40
Volatility54
Trend fit32
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 10:00
Bullish
Pressure 41
Move 4.6%
30 Jul 10:00
Mixed
Pressure 14
Move 4.5%
31 Jul 10:00
Bullish
Pressure 38
Move 2.6%
1 Aug 21:51
Bullish
Pressure 29
Move 5.1%
Strike Map
Where activity is clustering
Strike80.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike85.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike90.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike95.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 57
Strike110.00
Calls · V 0 · OI 3
Puts · V 0 · OI 6
Strike111.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts112
Avg IV0.48
Put-call0.58
Expiry14 Aug 2026
Contracts116
Avg IV0.46
Put-call0.12
Expiry21 Aug 2026
Contracts114
Avg IV0.38
Put-call1.15
Expiry28 Aug 2026
Contracts98
Avg IV0.38
Put-call0.02
Expiry4 Sep 2026
Contracts96
Avg IV0.35
Put-call0.02
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.55
Put IV0.50
Skew-0.05
14 Aug 2026Balanced skew
Call IV0.49
Put IV0.50
Skew0.01
21 Aug 2026Balanced skew
Call IV0.39
Put IV0.39
Skew-
28 Aug 2026Balanced skew
Call IV0.40
Put IV0.39
Skew-0.01
4 Sep 2026Balanced skew
Call IV0.34
Put IV0.37
Skew0.03
Contract Tape
Most active contracts
ContractGILD260918P00120000
SidePut
Expiry18 Sep 2026
Strike120.00
Volume223
OI1022
IV0.37
ContractGILD260911C00148000
SideCall
Expiry11 Sep 2026
Strike148.00
Volume200
OI-
IV0.36
ContractGILD260918C00140000
SideCall
Expiry18 Sep 2026
Strike140.00
Volume112
OI3297
IV0.32
ContractGILD260821P00120000
SidePut
Expiry21 Aug 2026
Strike120.00
Volume91
OI764
IV0.41
ContractGILD260828C00130000
SideCall
Expiry28 Aug 2026
Strike130.00
Volume80
OI20
IV0.39
ContractGILD260807C00155000
SideCall
Expiry7 Aug 2026
Strike155.00
Volume78
OI3116
IV0.81
ContractGILD260807C00131000
SideCall
Expiry7 Aug 2026
Strike131.00
Volume64
OI190
IV0.43
ContractGILD260821C00150000
SideCall
Expiry21 Aug 2026
Strike150.00
Volume61
OI15852
IV0.41
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.