Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
DOCS options intelligence
Doximity Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
64
Market data through 31 Jul 2026
Checked 1 Aug 2026 21:33 · complete available chain
Volatility expansion watch
Volatility pressure
DOCS currently carries volatility options pressure with a 64/100 conviction score. The nearest-chain expected move is 20.2%, with volume/open-interest participation at 0.01.
Expected move
20.2%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
7.20
Put-side skew
Trend fit
73
Options agree with trend context
Weekly backdrop
+2.4%
RS -52.8
Expected move
20.2%
Put-call volume
7.20
Volume / OI
0.01
Reference IV
1.05
Max pain
22.50
Underlying
20.91
Nearest expiry
21 Aug 2026
Contracts
324
Research Brief
DOCS has a volatility chain read with 64/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 16.69–25.13; The largest call open-interest concentration is 30.00; the largest put concentration is 20.00. The most active strike by current volume is 20.00.
Priced range16.69–25.13
Call concentration30.00
Put concentration20.00
Max pain reference22.50
- 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 16.69 to 25.13. Max pain at 22.50 sits inside that range, 7.6% above spot.
Spot
Max pain
16.6920.91 ± 4.2225.13
Confirmation level
A close beyond 25.13 or below 16.69 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 64/100
Pressure is 73/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure73 × 42%
+30.9
How strongly activity leans toward calls or puts.
Participation19 × 22%
+4.1
Volume relative to existing open interest and contract-level activity.
Trend agreement73 × 26%
+18.9
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 30.00; the largest put concentration is 20.00. The most active strike by current volume is 20.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
100
10.00-52.2%
0
177
12.50-40.2%
25
996
15.00-28.3%
57
543
17.50-16.3%
19
2428
20.00-4.4%
1288
2237
22.507.6%
2190
1162
25.0019.6%
1567
626
27.5031.5%
806
337
30.0043.5%
4203
33
32.5055.4%
243
56
35.0067.4%
294
6
37.5079.3%
253
0
40.0091.3%
883
0
42.50103.3%
102
0
45.00115.2%
130
0
55.00163.0%
84
0
60.00186.9%
98
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.
1.05
21 Aug
21d
0.77
18 Sep
49d
0.77
20 Nov
112d
0.73
18 Dec
140d
0.70
15 Jan
168d
0.73
19 Feb
203d
0.71
21 Jan
539d
0.68
15 Dec
868d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
18
20
23
25
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 324 / 324
- 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: $51170 of estimated gross traded notional, puts · 8-21 days · otm, 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-73
1W price+2.4%
Call premium18%
Put premium82%
Notional split
C 18% / P 82%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
73/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 8-21 days · OTM
puts cluster with 122 contracts traded, $19478 estimated gross traded notional, and 38% of visible notional.
$19478
Puts · 8-21 days · ITM
puts cluster with 50 contracts traded, $14875 estimated gross traded notional, and 29% of visible notional.
$14875
Calls · 91+ days · ITM
calls cluster with 6 contracts traded, $4860 estimated gross traded notional, and 9% of visible notional.
$4860
Puts · 46-90 days · OTM
puts cluster with 127 contracts traded, $4498 estimated gross traded notional, and 9% of visible notional.
$4498
Calls · 8-21 days · OTM
calls cluster with 30 contracts traded, $2508 estimated gross traded notional, and 5% of visible notional.
$2508
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
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
Close20.91
1W+2.4%
RS-52.8
Fair value-47.6%
Options pressure-73
Speculation19
Volatility96
Trend fit73
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 10:44
Volatility
Pressure -74
Move 20.8%
30 Jul 10:40
Mixed
Pressure 4
Move 21.2%
30 Jul 22:14
Mixed
Pressure 11
Move 21.2%
31 Jul 05:53
Volatility
Pressure -41
Move 21.2%
31 Jul 14:33
Mixed
Pressure 4
Move 20.4%
31 Jul 23:40
Mixed
Pressure -12
Move 20.7%
1 Aug 20:33
Volatility
Pressure -73
Move 20.2%
Strike Map
Where activity is clustering
Strike2.50
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 100
Strike12.50
Calls · V 0 · OI 25
Puts · V 1 · OI 177
Strike15.00
Calls · V 0 · OI 57
Puts · V 5 · OI 996
Strike17.50
Calls · V 0 · OI 19
Puts · V 4 · OI 543
Strike20.00
Calls · V 0 · OI 1288
Puts · V 112 · OI 2428
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts48
Avg IV1.05
Put-call5.73
Expiry18 Sep 2026
Contracts18
Avg IV0.77
Put-call128.00
Expiry20 Nov 2026
Contracts30
Avg IV0.77
Put-call7.00
Expiry18 Dec 2026
Contracts30
Avg IV0.73
Put-call4.00
Expiry15 Jan 2027
Contracts84
Avg IV0.70
Put-call0.67
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV1.02
Put IV1.07
Skew0.05
18 Sep 2026Balanced skew
Call IV0.77
Put IV0.79
Skew0.02
20 Nov 2026Balanced skew
Call IV0.76
Put IV0.78
Skew0.02
18 Dec 2026Balanced skew
Call IV0.75
Put IV0.74
Skew-0.01
15 Jan 2027Balanced skew
Call IV0.70
Put IV0.72
Skew0.02
Contract Tape
Most active contracts
ContractDOCS260918P00015000
SidePut
Expiry18 Sep 2026
Strike15.00
Volume126
OI54
IV0.82
ContractDOCS260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume112
OI2428
IV1.10
ContractDOCS260821P00022500
SidePut
Expiry21 Aug 2026
Strike22.50
Volume50
OI2237
IV1.03
ContractDOCS260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume16
OI1567
IV1.02
ContractDOCS260821C00022500
SideCall
Expiry21 Aug 2026
Strike22.50
Volume8
OI2190
IV1.01
ContractDOCS280121C00020000
SideCall
Expiry21 Jan 2028
Strike20.00
Volume6
OI305
IV0.76
ContractDOCS261120P00015000
SidePut
Expiry20 Nov 2026
Strike15.00
Volume6
OI95
IV0.81
ContractDOCS260821P00015000
SidePut
Expiry21 Aug 2026
Strike15.00
Volume5
OI996
IV1.20
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.