Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
FIX options intelligence
Comfort Systems USA Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
47
Market data through 30 Jul 2026
Checked 31 Jul 2026 06:38 · complete available chain
Volatility expansion watch
Volatility pressure
FIX currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 13.9%, with volume/open-interest participation at 0.07.
Expected move
13.9%
Wider near-term move priced
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
1.50
Put-side skew
Trend fit
72
Options agree with trend context
Weekly backdrop
+3.6%
RS 30.1
Expected move
13.9%
Put-call volume
1.50
Volume / OI
0.07
Reference IV
0.71
Max pain
1700.00
Underlying
1733.60
Nearest expiry
21 Aug 2026
Contracts
1128
Research Brief
FIX has a volatility chain read with 47/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 1491.95–1975.25; The largest call open-interest concentration is 1740.00; the largest put concentration is 1480.00. The most active strike by current volume is 1260.00.
Priced range1491.95–1975.25
Call concentration1740.00
Put concentration1480.00
Max pain reference1700.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 1491.95 to 1975.25. Max pain at 1700.00 sits inside that range, 1.9% below spot.
Spot
Max pain
1491.951733.60 ± 241.651975.25
Confirmation level
A close beyond 1975.25 or below 1491.95 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 47/100
Pressure is 24/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure24 × 42%
+10.0
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.1
Volume relative to existing open interest and contract-level activity.
Trend agreement72 × 26%
+18.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility90 × 10%
+9.0
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 1740.00; the largest put concentration is 1480.00. The most active strike by current volume is 1260.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
133
1180.00-31.9%
1
64
1200.00-30.8%
22
35
1260.00-27.3%
1
119
1300.00-25.0%
1
105
1400.00-19.2%
5
419
1480.00-14.6%
7
88
1560.00-10.0%
4
118
1580.00-8.9%
8
293
1600.00-7.7%
17
61
1660.00-4.2%
31
24
1680.00-3.1%
108
79
1700.00-1.9%
51
16
1740.000.4%
211
55
1780.002.7%
55
102
1800.003.8%
68
6
1900.009.6%
63
5
2000.0015.4%
139
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.71
21 Aug
22d
0.69
18 Sep
50d
0.68
16 Oct
78d
0.70
18 Dec
141d
0.69
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.
1400
1440
1500
1540
1580
1640
1680
1720
1780
1820
1850
1870
1890
1920
1940
1960
1990
2010
2030
2060
2080
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 1128 / 1128
- 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: $10.6M 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-24
1W price+3.6%
Call premium46%
Put premium54%
Notional split
C 46% / P 54%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.07
Volume divided by open interest across the visible chain.
Trend fit
72/100
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 161 contracts traded, $2.1M estimated gross traded notional, and 20% of visible notional.
$2.1M
Puts · 91+ days · ATM
puts cluster with 47 contracts traded, $1.4M estimated gross traded notional, and 13% of visible notional.
$1.4M
Puts · 46-90 days · OTM
puts cluster with 89 contracts traded, $1.2M estimated gross traded notional, and 11% of visible notional.
$1.2M
Puts · 91+ days · OTM
puts cluster with 67 contracts traded, $1.0M estimated gross traded notional, and 10% of visible notional.
$1.0M
Puts · 8-21 days · OTM
puts cluster with 368 contracts traded, $991612 estimated gross traded notional, and 9% of visible notional.
$991612
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.
Underlying price is close to the max-pain zone.
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
Close1733.60
1W+3.6%
RS30.1
Fair value+171.1%
Options pressure-24
Speculation42
Volatility90
Trend fit72
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 - · 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
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:06
Volatility
Pressure -24
Move 15.0%
30 Jul 10:04
Volatility
Pressure 18
Move 16.9%
30 Jul 15:39
Volatility
Pressure -11
Move 13.7%
30 Jul 19:59
Volatility
Pressure -18
Move 13.8%
31 Jul 05:38
Volatility
Pressure -24
Move 13.9%
Strike Map
Where activity is clustering
Strike970.00
Calls · V 0 · OI 2
Puts · V 0 · OI 5
Strike980.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike990.00
Calls · V 0 · OI 2
Puts · V 0 · OI 1
Strike1000.00
Calls · V 0 · OI 2
Puts · V 0 · OI 11
Strike1020.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike1040.00
Calls · V 0 · OI 0
Puts · V 0 · OI 11
Strike1060.00
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike1080.00
Calls · V 0 · OI 5
Puts · V 0 · OI 15
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts202
Avg IV0.71
Put-call2.10
Expiry18 Sep 2026
Contracts202
Avg IV0.69
Put-call1.55
Expiry16 Oct 2026
Contracts222
Avg IV0.68
Put-call2.38
Expiry18 Dec 2026
Contracts286
Avg IV0.70
Put-call3.60
Expiry15 Jan 2027
Contracts216
Avg IV0.69
Put-call0.41
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.66
Put IV0.75
Skew0.09
18 Sep 2026Put IV premium
Call IV0.64
Put IV0.73
Skew0.09
16 Oct 2026Put IV premium
Call IV0.65
Put IV0.72
Skew0.07
18 Dec 2026Put IV premium
Call IV0.66
Put IV0.73
Skew0.07
15 Jan 2027Put IV premium
Call IV0.65
Put IV0.71
Skew0.06
Contract Tape
Most active contracts
ContractFIX260821P01260000
SidePut
Expiry21 Aug 2026
Strike1260.00
Volume201
OI35
IV0.86
ContractFIX270115C02400000
SideCall
Expiry15 Jan 2027
Strike2400.00
Volume50
OI65
IV0.65
ContractFIX270115C02440000
SideCall
Expiry15 Jan 2027
Strike2440.00
Volume50
OI2
IV0.65
ContractFIX260918P01710000
SidePut
Expiry18 Sep 2026
Strike1710.00
Volume40
OI6
IV0.69
ContractFIX261016P01680000
SidePut
Expiry16 Oct 2026
Strike1680.00
Volume39
OI6
IV0.69
ContractFIX270115C02200000
SideCall
Expiry15 Jan 2027
Strike2200.00
Volume37
OI2
IV0.66
ContractFIX260821C01740000
SideCall
Expiry21 Aug 2026
Strike1740.00
Volume36
OI211
IV0.70
ContractFIX260821P01560000
SidePut
Expiry21 Aug 2026
Strike1560.00
Volume35
OI88
IV0.75
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.