Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
AVXL options intelligence
Anavex Life Sciences Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
60
Market data through 16 Sep 2026
Checked 17 Sep 2026 12:47 · complete available chain
Volatility expansion watch
Volatility pressure
AVXL currently carries volatility options pressure with a 60/100 conviction score. The nearest-chain expected move is 57.6%, with volume/open-interest participation at 0.01.
Expected move
57.6%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.05
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-7.6%
RS -48.6
Expected move
57.6%
Put-call volume
0.05
Volume / OI
0.01
Reference IV
3.91
Max pain
3.00
Underlying
2.62
Nearest expiry
18 Sep 2026
Contracts
90
Research Brief
AVXL has a volatility chain read with 60/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 1.11–4.13; The largest call open-interest concentration is 3.00; the largest put concentration is 2.00. The most active strike by current volume is 3.00.
Priced range1.11–4.13
Call concentration3.00
Put concentration2.00
Max pain reference3.00
- 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 1.11 to 4.13. Max pain at 3.00 sits inside that range, 14.5% above spot.
Spot
Max pain
1.112.62 ± 1.514.13
Confirmation level
A close beyond 4.13 or below 1.11 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 60/100
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.
Participation40 × 22%
+8.8
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 3.00; the largest put concentration is 2.00. The most active strike by current volume is 3.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
1.00-61.8%
0
142
2.00-23.7%
1
84
3.0014.5%
1265
1
4.0052.7%
1201
0
5.0090.8%
86
0
6.00129.0%
0
0
7.00167.2%
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+$12,609Delta change / 1% move
Positive peak3.00+$5,612
Negative peak2.00-$3,006
Nearest balance2.35Interpolated sign change
StrikeNegativePositiveNet / 1% move
1.00-61.8%
+$0
2.00-23.7%
-$3,006
3.0014.5%
+$5,612
4.0052.7%
+$2,183
5.0090.8%
+$2,703
6.00129.0%
+$220
7.00167.2%
+$1,482
8.00205.3%
+$47
9.00243.5%
+$1
10.00281.7%
+$1,980
12.00358.0%
+$408
15.00472.5%
+$301
17.00548.9%
+$122
20.00663.4%
+$418
22.00739.7%
+$51
25.00854.2%
+$66
27.00930.5%
+$22
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.
3.91
18 Sep
2d
0.95
16 Oct
30d
0.65
15 Jan
121d
0.27
16 Apr
212d
1.14
21 Jan
492d
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
3
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 3 stored directional transitions, the next stored price moved in the labelled direction 67% of the time.
Directional follow-through67%
Moves contained by pricing67%
Average expiry move15.0%
16 Sep
Volatility · 60
-7.6% through expiry
57.6% priced · v2.0
14 Sep
Volatility · 52
-7.6% through expiry
38.7% priced · v2.0
10 Sep
Volatility · 52
-15.4% through expiry
19.2% priced · v2.0
8 Sep
Volatility · 52
-15.4% through expiry
11.4% priced · v2.0
3 Sep
Volatility · 48
-19.1% through expiry
20.1% priced · v2.0
1 Sep
Volatility · 53
-19.1% through expiry
15.2% priced · v2.0
28 Aug
Bullish · 34
-19.1% through expiry
10.0% priced · v2.0
27 Aug
Mixed · 45
-25.3% through expiry
14.2% priced · v2.0
24 Aug
Volatility · 60
-25.3% through expiry
26.2% priced · v2.0
21 Aug
Volatility · 52
-25.3% through expiry
17.7% priced · v2.0
14 Aug
Volatility · 60
0.6% through expiry
10.9% priced · v2.0
13 Aug
Volatility · 48
-3.0% through expiry
20.0% 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
- 90 / 90
- 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: $5,412 of estimated gross traded notional, calls · 91+ 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+100
1W price-7.6%
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
0.01
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.
Calls · 91+ days · OTM
calls cluster with 162 contracts traded, $2,788 estimated gross traded notional, and 52% of visible notional.
$2,788
Calls · 22-45 days · ITM
calls cluster with 45 contracts traded, $2,250 estimated gross traded notional, and 42% of visible notional.
$2,250
Calls · 22-45 days · OTM
calls cluster with 31 contracts traded, $310 estimated gross traded notional, and 6% of visible notional.
$310
Puts · 22-45 days · OTM
puts cluster with 12 contracts traded, $60 estimated gross traded notional, and 1% of visible notional.
$60
Calls · 0-7 days · OTM
calls cluster with 3 contracts traded, $3 estimated gross traded notional, and 0% of visible notional.
$3
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
Above normal
Activity is running above the recent historical baseline.
Baseline: 22 completed sessions
Volume rank50th
Volume/OI rank50th
IV rank95th
Market Context
Underlying confirmation
Close2.42
1W-7.6%
RS-48.6
Fair value-61.1%
Options pressure100
Speculation40
Volatility96
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
Pressure Trail
Recent pressure and volatility
30 Jul 11:17
Volatility
Pressure 98
Move 51.7%
31 Jul 13:15
Volatility
Pressure 100
Move 55.7%
31 Jul 15:03
Bullish
Pressure 53
Move 38.5%
31 Jul 15:44
Bullish
Pressure 39
Move 38.5%
31 Jul 16:41
Bullish
Pressure 39
Move 38.5%
31 Jul 17:00
Bullish
Pressure 41
Move 38.5%
31 Jul 18:05
Mixed
Pressure 14
Move 38.5%
2 Aug 15:10
Bullish
Pressure 53
Move 20.0%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike2.00
Calls · V 0 · OI 1
Puts · V 0 · OI 142
Strike3.00
Calls · V 3 · OI 1265
Puts · V 0 · OI 84
Strike4.00
Calls · V 0 · OI 1201
Puts · V 0 · OI 1
Strike5.00
Calls · V 0 · OI 86
Puts · V 0 · OI 0
Strike6.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts14
Avg IV3.91
Put-call-
Expiry16 Oct 2026
Contracts18
Avg IV0.95
Put-call0.16
Expiry15 Jan 2027
Contracts30
Avg IV0.65
Put-call-
Expiry16 Apr 2027
Contracts14
Avg IV0.27
Put-call-
Expiry21 Jan 2028
Contracts14
Avg IV1.14
Put-call-
Skew
Call/put IV balance
18 Sep 2026Call IV premium
Call IV2.05
Put IV1.62
Skew-0.43
16 Oct 2026Call IV premium
Call IV0.52
Put IV0.42
Skew-0.10
15 Jan 2027Call IV premium
Call IV1.28
Put IV1.13
Skew-0.16
16 Apr 2027Balanced skew
Call IV0.19
Put IV0.17
Skew-0.02
21 Jan 2028Incomplete skew
Call IV1.21
Put IV-
Skew-
Contract Tape
Most active contracts
ContractAVXL270115C00007000
SideCall
Expiry15 Jan 2027
Strike7.00
Volume45
OI1826
IV1.51
ContractAVXL261016C00002000
SideCall
Expiry16 Oct 2026
Strike2.00
Volume45
OI9
IV1.13
ContractAVXL280121C00010000
SideCall
Expiry21 Jan 2028
Strike10.00
Volume35
OI394
IV1.13
ContractAVXL261016C00003000
SideCall
Expiry16 Oct 2026
Strike3.00
Volume31
OI584
IV0.52
ContractAVXL270115C00015000
SideCall
Expiry15 Jan 2027
Strike15.00
Volume26
OI1774
IV1.30
ContractAVXL270115C00017000
SideCall
Expiry15 Jan 2027
Strike17.00
Volume25
OI358
IV1.37
ContractAVXL261016P00002000
SidePut
Expiry16 Oct 2026
Strike2.00
Volume12
OI696
IV0.42
ContractAVXL270115C00010000
SideCall
Expiry15 Jan 2027
Strike10.00
Volume10
OI6852
IV1.07
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.