Ticker Options Intelligence

MMYT options intelligence

MakeMyTrip Limited options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 54 Market data through 31 Jul 2026 Checked 31 Jul 2026 15:48 · complete available chain

Volatility expansion watch

Volatility pressure

MMYT currently carries volatility options pressure with a 54/100 conviction score. The nearest-chain expected move is 19.8%, with volume/open-interest participation at 0.26.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Volatility

Volatility expansion watch

Expected move 19.8%

Wider near-term move priced

Activity / OI 0.26

Current volume is quieter versus prior open interest

Put-call 0.15

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop -9.9%

RS -34.5

Expected move 19.8%
Put-call volume 0.15
Volume / OI 0.26
Reference IV 0.96
Max pain 50.00
Underlying 49.23
Nearest expiry 21 Aug 2026
Contracts 100

Research Brief

MMYT has a volatility chain read with 54/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 39.48–58.98; The largest call open-interest concentration is 80.00; the largest put concentration is 40.00. The most active strike by current volume is 120.00.

Priced range39.48–58.98
Call concentration80.00
Put concentration40.00
Max pain reference50.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 39.48 to 58.98. Max pain at 50.00 sits inside that range, 1.6% above spot.

Spot Max pain
39.4849.23 ± 9.7558.98
Confirmation level

A close beyond 58.98 or below 39.48 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 54/100

Evidence alignment, not probability

Pressure is 82/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure82 × 42%
+34.4

How strongly activity leans toward calls or puts.

Participation46 × 22%
+10.1

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.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score54.1Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 80.00; the largest put concentration is 40.00. The most active strike by current volume is 120.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
4
20.00-59.4%
0
27
25.00-49.2%
0
119
30.00-39.1%
0
242
35.00-28.9%
0
326
40.00-18.7%
158
246
45.00-8.6%
26
260
50.001.6%
24
53
55.0011.7%
77
7
60.0021.9%
237
0
65.0032.0%
456
0
70.0042.2%
12
0
75.0052.3%
10
10
80.0062.5%
917
3
90.0082.8%
392
6
95.0093.0%
16
0
100.00103.1%
0
0
120.00143.8%
662
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.41× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.96 21 Aug 21d
0.72 18 Sep 49d
0.69 20 Nov 112d
0.67 18 Dec 140d
0.68 19 Feb 203d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

40
45
50
55
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A99/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
100 / 100
  • 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

95/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $737500 of estimated gross traded notional, puts · 91+ 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+82
1W price-9.9%
Call premium60%
Put premium40%
Notional split C 60% / P 40% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.26 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 3 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.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 51 contracts traded, $215695 estimated gross traded notional, and 29% of visible notional.
$215695
Calls · 8-21 days · OTM calls cluster with 1802 contracts traded, $194010 estimated gross traded notional, and 26% of visible notional.
$194010
Calls · 91+ days · ITM calls cluster with 101 contracts traded, $187270 estimated gross traded notional, and 25% of visible notional.
$187270
Puts · 8-21 days · ITM puts cluster with 24 contracts traded, $45222 estimated gross traded notional, and 6% of visible notional.
$45222
Calls · 8-21 days · ITM calls cluster with 24 contracts traded, $31420 estimated gross traded notional, and 4% of visible notional.
$31420

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

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

Sharemaestro weekly
Close49.23
1W-9.9%
RS-34.5
Fair value-35.0%
Options pressure82
Speculation46
Volatility96
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 19.8% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.96 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.15 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.26 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:42 Bullish
Pressure 60
Move 17.8%
30 Jul 10:39 Volatility
Pressure -43
Move 19.6%
30 Jul 20:11 Volatility
Pressure 82
Move 20.7%
31 Jul 02:39 Bullish
Pressure 70
Move 18.6%
31 Jul 13:43 Bullish
Pressure 82
Move 14.5%
31 Jul 14:48 Volatility
Pressure 82
Move 19.8%

Strike Map

Where activity is clustering

Full strike map
Strike20.00
Calls · V 0 · OI 0
Puts · V 4 · OI 4
Strike25.00
Calls · V 0 · OI 0
Puts · V 1 · OI 27
Strike30.00
Calls · V 0 · OI 0
Puts · V 17 · OI 119
Strike35.00
Calls · V 20 · OI 0
Puts · V 1 · OI 242
Strike40.00
Calls · V 2 · OI 158
Puts · V 1 · OI 326
Strike45.00
Calls · V 2 · OI 26
Puts · V 102 · OI 246
Strike50.00
Calls · V 8 · OI 24
Puts · V 43 · OI 260
Strike55.00
Calls · V 2 · OI 77
Puts · V 5 · OI 53

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts33
Avg IV0.96
Put-call0.11
Expiry18 Sep 2026
Contracts3
Avg IV0.72
Put-call-
Expiry20 Nov 2026
Contracts16
Avg IV0.69
Put-call1.29
Expiry18 Dec 2026
Contracts43
Avg IV0.67
Put-call0.32
Expiry19 Feb 2027
Contracts5
Avg IV0.68
Put-call0.75

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.90
Put IV1.06
Skew0.15
18 Sep 2026Incomplete skew
Call IV0.68
Put IV-
Skew-
20 Nov 2026Call IV premium
Call IV0.78
Put IV0.66
Skew-0.13
18 Dec 2026Put IV premium
Call IV0.50
Put IV0.69
Skew0.20
19 Feb 2027Put IV premium
Call IV0.70
Put IV0.87
Skew0.17

Contract Tape

Most active contracts

Full contract tape
ContractMMYT261218C00025000
SideCall
Expiry18 Dec 2026
Strike25.00
Volume-
OI16
IV0.00
ContractMMYT261218C00110000
SideCall
Expiry18 Dec 2026
Strike110.00
Volume-
OI10
IV0.92
ContractMMYT260821P00095000
SidePut
Expiry21 Aug 2026
Strike95.00
Volume-
OI6
IV0.00
ContractMMYT260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume-
OI5
IV0.87
ContractMMYT260821P00085000
SidePut
Expiry21 Aug 2026
Strike85.00
Volume-
OI3
IV0.00
ContractMMYT261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume-
OI3
IV0.00
ContractMMYT260821P00090000
SidePut
Expiry21 Aug 2026
Strike90.00
Volume-
OI3
IV0.00
ContractMMYT260918P00055000
SidePut
Expiry18 Sep 2026
Strike55.00
Volume-
OI2
IV0.63