Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
GDE options intelligence
WISDOMTREE EFFICIENT GOLD PLUS EQUITY STRATEGY FUND options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 4 Aug 2026
Checked 5 Aug 2026 00:23 · complete available chain
Volatility expansion watch
Volatility pressure
GDE currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 8.1%, with volume/open-interest participation at 0.73.
Expected move
8.1%
Wider near-term move priced
Activity / OI
0.73
Current volume is elevated versus prior open interest
Put-call
0.23
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+0.8%
RS -8.9
Expected move
8.1%
Put-call volume
0.23
Volume / OI
0.73
Reference IV
0.58
Max pain
62.00
Underlying
61.10
Nearest expiry
21 Aug 2026
Contracts
24
Research Brief
GDE has a volatility chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 56.12–66.08; The largest call open-interest concentration is 65.00; the largest put concentration is 60.00. The most active strike by current volume is 62.00.
Priced range56.12–66.08
Call concentration65.00
Put concentration60.00
Max pain reference62.00
- A clear directional pressure reading develops and price begins to agree.
- 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 56.12 to 66.08. Max pain at 62.00 sits inside that range, 1.5% above spot.
Spot
Max pain
56.1261.10 ± 4.9866.08
Confirmation level
A close beyond 66.08 or below 56.12 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 49/100
Pressure is 68/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure68 × 42%
+28.7
How strongly activity leans toward calls or puts.
Participation57 × 22%
+12.5
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.
Volatility73 × 10%
+7.3
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 65.00; the largest put concentration is 60.00. The most active strike by current volume is 62.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1
56.00-8.3%
0
4
60.00-1.8%
0
2
61.00-0.2%
0
4
62.001.5%
1
0
63.003.1%
3
0
65.006.4%
11
0
66.008.0%
4
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+$2,879Delta change / 1% move
Positive peak65.00+$1,738
Negative peak60.00-$734
Nearest balance61.31Interpolated sign change
StrikeNegativePositiveNet / 1% move
40.00-34.5%
+$15
45.00-26.4%
-$41
50.00-18.2%
-$66
56.00-8.3%
-$144
60.00-1.8%
-$734
61.00-0.2%
-$398
62.001.5%
+$874
63.003.1%
+$557
64.004.7%
-$272
65.006.4%
+$1,738
66.008.0%
+$687
70.0014.6%
-$311
72.0017.8%
+$821
74.0021.1%
+$78
75.0022.7%
+$73
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.
0.58
21 Aug
17d
0.60
16 Oct
73d
0.40
15 Jan
164d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
56
60
61
62
63
65
66
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
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
- 4 Aug 2026
- Calculation
- v2.0
- Contracts
- 24 / 24
- 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: $25,650 of estimated gross traded notional, calls · 46-90 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+68
1W price+0.8%
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
0.73
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 · 46-90 days · OTM
calls cluster with 16 contracts traded, $6,920 estimated gross traded notional, and 27% of visible notional.
$6,920
Calls · 46-90 days · ITM
calls cluster with 2 contracts traded, $4,680 estimated gross traded notional, and 18% of visible notional.
$4,680
Calls · 46-90 days · ATM
calls cluster with 4 contracts traded, $4,420 estimated gross traded notional, and 17% of visible notional.
$4,420
Puts · 46-90 days · ITM
puts cluster with 5 contracts traded, $3,605 estimated gross traded notional, and 14% of visible notional.
$3,605
Calls · 91+ days · ATM
calls cluster with 5 contracts traded, $2,362 estimated gross traded notional, and 9% of visible notional.
$2,362
Setup Classification
Opportunity and risk frame
Participation is active enough to treat follow-through risk carefully.
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.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
5 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 5 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close61.10
1W+0.8%
RS-8.9
Fair value+45.7%
Options pressure68
Speculation57
Volatility73
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 5/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 12:27
Bullish
Pressure 100
Move 6.6%
30 Jul 12:04
Bullish
Pressure 34
Move 6.8%
31 Jul 11:43
Mixed
Pressure 1
Move 6.5%
3 Aug 10:42
Bearish
Pressure -99
Move 6.1%
4 Aug 11:53
Bullish
Pressure 100
Move 5.9%
4 Aug 23:23
Volatility
Pressure 68
Move 8.1%
Strike Map
Where activity is clustering
Strike56.00
Calls · V 1 · OI 0
Puts · V 0 · OI 1
Strike60.00
Calls · V 0 · OI 0
Puts · V 2 · OI 4
Strike61.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike62.00
Calls · V 0 · OI 1
Puts · V 3 · OI 4
Strike63.00
Calls · V 2 · OI 3
Puts · V 0 · OI 0
Strike65.00
Calls · V 0 · OI 11
Puts · V 0 · OI 0
Strike66.00
Calls · V 1 · OI 4
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts9
Avg IV0.58
Put-call1.25
Expiry16 Oct 2026
Contracts13
Avg IV0.60
Put-call0.23
Expiry15 Jan 2027
Contracts2
Avg IV0.40
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.52
Put IV0.60
Skew0.08
16 Oct 2026Call IV premium
Call IV0.56
Put IV0.50
Skew-0.06
15 Jan 2027Incomplete skew
Call IV0.39
Put IV-
Skew-
Contract Tape
Most active contracts
ContractGDE260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume-
OI11
IV0.52
ContractGDE261016P00064000
SidePut
Expiry16 Oct 2026
Strike64.00
Volume-
OI3
IV0.60
ContractGDE260821P00061000
SidePut
Expiry21 Aug 2026
Strike61.00
Volume-
OI2
IV0.57
ContractGDE261016P00045000
SidePut
Expiry16 Oct 2026
Strike45.00
Volume-
OI1
IV0.71
ContractGDE260821C00062000
SideCall
Expiry21 Aug 2026
Strike62.00
Volume-
OI1
IV0.54
ContractGDE260821P00056000
SidePut
Expiry21 Aug 2026
Strike56.00
Volume-
OI1
IV0.59
ContractGDE261016C00074000
SideCall
Expiry16 Oct 2026
Strike74.00
Volume-
OI1
IV0.58
ContractGDE261016P00050000
SidePut
Expiry16 Oct 2026
Strike50.00
Volume-
OI1
IV0.50
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.