Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
DXCM options intelligence
DexCom Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
54
Market data through 31 Jul 2026
Checked 1 Aug 2026 01:16 · complete available chain
Volatility expansion watch
Volatility pressure
DXCM currently carries volatility options pressure with a 54/100 conviction score. The nearest-chain expected move is 17.9%, with volume/open-interest participation at 0.11.
Expected move
17.9%
Wider near-term move priced
Activity / OI
0.11
Current volume is quieter versus prior open interest
Put-call
0.29
Call-side skew
Trend fit
48
Options are not fully confirming trend
Weekly backdrop
+16.6%
RS 10.5
Expected move
17.9%
Put-call volume
0.29
Volume / OI
0.11
Reference IV
1.56
Max pain
75.00
Underlying
71.54
Nearest expiry
31 Jul 2026
Contracts
844
Research Brief
DXCM 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 58.76–84.32; The largest call open-interest concentration is 83.00; the largest put concentration is 65.00. The most active strike by current volume is 84.00.
Priced range58.76–84.32
Call concentration83.00
Put concentration65.00
Max pain reference75.00
- 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 58.76 to 84.32. Max pain at 75.00 sits inside that range, 4.8% above spot.
Spot
Max pain
58.7671.54 ± 12.7884.32
Confirmation level
A close beyond 84.32 or below 58.76 at the 31 Jul 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
Pressure is 53/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure53 × 42%
+22.2
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.3
Volume relative to existing open interest and contract-level activity.
Trend agreement48 × 26%
+12.6
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 83.00; the largest put concentration is 65.00. The most active strike by current volume is 84.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
175
62.00-13.3%
2
547
65.00-9.1%
3
116
68.00-4.9%
4
110
69.00-3.6%
3
104
70.00-2.2%
13
301
71.00-0.8%
3
45
73.002.0%
34
281
74.003.4%
49
193
75.004.8%
307
102
76.006.2%
36
110
77.007.6%
216
0
80.0011.8%
302
0
82.0014.6%
152
0
83.0016.0%
343
0
84.0017.4%
31
0
85.0018.8%
110
1
86.0020.2%
121
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.56
31 Jul
0d
0.56
7 Aug
7d
0.48
14 Aug
14d
0.51
21 Aug
21d
0.41
28 Aug
28d
0.44
4 Sep
35d
0.39
11 Sep
42d
0.45
18 Sep
49d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
58
59
61
62
63
65
66
67
69
70
72
73
74
76
77
78
80
81
82
84
85
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 844 / 844
- 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: $4.4M of estimated gross traded notional, calls · 8-21 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+53
1W price+16.6%
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
0.11
Volume divided by open interest across the visible chain.
Trend fit
48/100
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 · 8-21 days · OTM
calls cluster with 2579 contracts traded, $830488 estimated gross traded notional, and 19% of visible notional.
$830488
Calls · 0-7 days · OTM
calls cluster with 2882 contracts traded, $530993 estimated gross traded notional, and 12% of visible notional.
$530993
Calls · 91+ days · OTM
calls cluster with 707 contracts traded, $526805 estimated gross traded notional, and 12% of visible notional.
$526805
Calls · 46-90 days · OTM
calls cluster with 900 contracts traded, $461838 estimated gross traded notional, and 11% of visible notional.
$461838
Calls · 91+ days · ITM
calls cluster with 137 contracts traded, $408360 estimated gross traded notional, and 9% of visible notional.
$408360
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.
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
Close83.45
1W+16.6%
RS10.5
Fair value-3.6%
Options pressure53
Speculation42
Volatility96
Trend fit48
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:14
Volatility
Pressure -7
Move 9.4%
30 Jul 10:11
Volatility
Pressure 71
Move 9.4%
30 Jul 15:33
Volatility
Pressure 30
Move 8.5%
30 Jul 19:41
Volatility
Pressure -33
Move 7.9%
31 Jul 13:32
Volatility
Pressure -47
Move 9.3%
31 Jul 14:23
Volatility
Pressure -12
Move 17.7%
31 Jul 15:40
Volatility
Pressure 18
Move 15.3%
31 Jul 16:48
Volatility
Pressure 38
Move 16.6%
Strike Map
Where activity is clustering
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike45.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 1
Puts · V 0 · OI 12
Strike55.00
Calls · V 0 · OI 2
Puts · V 0 · OI 70
Strike56.00
Calls · V 0 · OI 9
Puts · V 0 · OI 4
Strike57.00
Calls · V 0 · OI 11
Puts · V 0 · OI 54
Strike58.00
Calls · V 0 · OI 4
Puts · V 0 · OI 4
Strike59.00
Calls · V 0 · OI 6
Puts · V 0 · OI 65
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts96
Avg IV1.56
Put-call0.20
Expiry7 Aug 2026
Contracts100
Avg IV0.56
Put-call0.44
Expiry14 Aug 2026
Contracts96
Avg IV0.48
Put-call1.05
Expiry21 Aug 2026
Contracts80
Avg IV0.51
Put-call0.09
Expiry28 Aug 2026
Contracts72
Avg IV0.41
Put-call0.33
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.08
Put IV1.23
Skew1.15
7 Aug 2026Put IV premium
Call IV0.41
Put IV0.47
Skew0.06
14 Aug 2026Call IV premium
Call IV0.64
Put IV0.34
Skew-0.30
21 Aug 2026Put IV premium
Call IV0.42
Put IV0.69
Skew0.26
28 Aug 2026Call IV premium
Call IV0.40
Put IV0.24
Skew-0.16
Contract Tape
Most active contracts
ContractDXCM260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume1080
OI372
IV0.42
ContractDXCM260807C00083000
SideCall
Expiry7 Aug 2026
Strike83.00
Volume832
OI1
IV0.43
ContractDXCM260821C00075000
SideCall
Expiry21 Aug 2026
Strike75.00
Volume550
OI1030
IV0.38
ContractDXCM260918C00085000
SideCall
Expiry18 Sep 2026
Strike85.00
Volume438
OI531
IV0.41
ContractDXCM260731C00084000
SideCall
Expiry31 Jul 2026
Strike84.00
Volume417
OI31
IV0.08
ContractDXCM260731C00083000
SideCall
Expiry31 Jul 2026
Strike83.00
Volume375
OI343
IV0.01
ContractDXCM260918C00080000
SideCall
Expiry18 Sep 2026
Strike80.00
Volume286
OI1486
IV0.41
ContractDXCM260821C00080000
SideCall
Expiry21 Aug 2026
Strike80.00
Volume213
OI2449
IV0.42
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.