Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
EAF options intelligence
GrafTech International Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
37
Market data through 30 Jul 2026
Checked 31 Jul 2026 06:53 · complete available chain
Call-side pressure
Bullish pressure
EAF currently carries bullish options pressure with a 37/100 conviction score. The nearest-chain expected move is 18.5%, with volume/open-interest participation at 0.01.
Expected move
18.5%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.30
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+7.4%
RS -38.1
Expected move
18.5%
Put-call volume
0.30
Volume / OI
0.01
Reference IV
0.84
Max pain
8.00
Underlying
7.44
Nearest expiry
21 Aug 2026
Contracts
126
Research Brief
EAF has a bullish 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 6.06–8.82; The largest call open-interest concentration is 10.00; the largest put concentration is 5.00. The most active strike by current volume is 7.00.
Priced range6.06–8.82
Call concentration10.00
Put concentration5.00
Max pain reference8.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 6.06 to 8.82. Max pain at 8.00 sits inside that range, 7.5% above spot.
Spot
Max pain
6.067.44 ± 1.388.82
Confirmation level
A close beyond 8.82 or below 6.06 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 62/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure62 × 42%
+26.1
How strongly activity leans toward calls or puts.
Participation6 × 22%
+1.2
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.
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 10.00; the largest put concentration is 5.00. The most active strike by current volume is 7.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
1.00-86.6%
0
0
2.00-73.1%
0
0
3.00-59.7%
0
0
4.00-46.2%
0
154
5.00-32.8%
0
14
6.00-19.4%
0
37
7.00-5.9%
15
50
8.007.5%
87
0
9.0021.0%
40
0
10.0034.4%
217
0
11.0047.8%
0
0
12.0061.3%
0
0
13.0074.7%
0
0
14.0088.2%
0
0
15.00101.6%
3
0
16.00115.1%
0
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.
0.84
21 Aug
22d
1.16
18 Sep
50d
1.24
16 Oct
78d
1.27
15 Jan
169d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
6
7
8
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
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 126 / 126
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $1370 of estimated gross traded notional, calls · 8-21 days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+62
1W price+7.4%
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
0.01
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 8-21 days · ITM
calls cluster with 10 contracts traded, $550 estimated gross traded notional, and 40% of visible notional.
$550
Calls · 46-90 days · ITM
calls cluster with 5 contracts traded, $425 estimated gross traded notional, and 31% of visible notional.
$425
Puts · 46-90 days · OTM
puts cluster with 5 contracts traded, $200 estimated gross traded notional, and 15% of visible notional.
$200
Calls · 8-21 days · OTM
calls cluster with 5 contracts traded, $150 estimated gross traded notional, and 11% of visible notional.
$150
Puts · 8-21 days · OTM
puts cluster with 1 contracts traded, $45 estimated gross traded notional, and 3% of visible notional.
$45
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
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
Close7.44
1W+7.4%
RS-38.1
Fair value-50.8%
Options pressure62
Speculation6
Volatility96
Trend fit0
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 - · 1/10 sessions
-
90d avg - · 1/30 sessions
-
180d avg - · 1/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:38
Volatility
Pressure -91
Move 23.2%
29 Jul 23:03
Bullish
Pressure 62
Move 28.2%
31 Jul 05:53
Bullish
Pressure 62
Move 18.5%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike2.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike3.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike4.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 154
Strike6.00
Calls · V 0 · OI 0
Puts · V 1 · OI 14
Strike7.00
Calls · V 10 · OI 15
Puts · V 0 · OI 37
Strike8.00
Calls · V 5 · OI 87
Puts · V 0 · OI 50
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts32
Avg IV0.84
Put-call0.07
Expiry18 Sep 2026
Contracts26
Avg IV1.16
Put-call1.00
Expiry16 Oct 2026
Contracts32
Avg IV1.24
Put-call-
Expiry15 Jan 2027
Contracts36
Avg IV1.27
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.45
Put IV1.11
Skew0.65
18 Sep 2026Call IV premium
Call IV1.28
Put IV1.17
Skew-0.12
16 Oct 2026Call IV premium
Call IV1.38
Put IV1.02
Skew-0.36
15 Jan 2027Call IV premium
Call IV1.47
Put IV1.14
Skew-0.33
Contract Tape
Most active contracts
ContractEAF260821C00007000
SideCall
Expiry21 Aug 2026
Strike7.00
Volume10
OI15
IV1.18
ContractEAF260821C00008000
SideCall
Expiry21 Aug 2026
Strike8.00
Volume5
OI87
IV0.45
ContractEAF260918P00005000
SidePut
Expiry18 Sep 2026
Strike5.00
Volume5
OI30
IV1.17
ContractEAF260918C00007000
SideCall
Expiry18 Sep 2026
Strike7.00
Volume5
OI-
IV1.09
ContractEAF260821P00006000
SidePut
Expiry21 Aug 2026
Strike6.00
Volume1
OI14
IV1.11
ContractEAF270115C00013000
SideCall
Expiry15 Jan 2027
Strike13.00
Volume-
OI304
IV1.48
ContractEAF270115C00007000
SideCall
Expiry15 Jan 2027
Strike7.00
Volume-
OI268
IV1.59
ContractEAF260821C00010000
SideCall
Expiry21 Aug 2026
Strike10.00
Volume-
OI217
IV0.82
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
No upcoming matched earnings event.
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.