Ticker Options Intelligence

XRX options intelligence

Xerox Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 55 Market data through 30 Jul 2026 Checked 31 Jul 2026 11:50 · complete available chain

Volatility expansion watch

Volatility pressure

XRX currently carries volatility options pressure with a 55/100 conviction score. The nearest-chain expected move is 32.0%, with volume/open-interest participation at 0.22.

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

Volatility expansion watch

Expected move 32.0%

Wider near-term move priced

Activity / OI 0.22

Current volume is quieter versus prior open interest

Put-call 0.24

Call-side skew

Trend fit 34

Options are not fully confirming trend

Weekly backdrop -6.9%

RS -13.2

Expected move 32.0%
Put-call volume 0.24
Volume / OI 0.22
Reference IV 1.06
Max pain 2.00
Underlying 2.58
Nearest expiry 21 Aug 2026
Contracts 108

Research Brief

XRX has a volatility chain read with 55/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 1.75–3.41; The largest call open-interest concentration is 4.00; the largest put concentration is 2.00. The most active strike by current volume is 4.00.

Priced range1.75–3.41
Call concentration4.00
Put concentration2.00
Max pain reference2.00
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.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 1.75 to 3.41. Max pain at 2.00 sits inside that range, 22.5% below spot.

Spot Max pain
1.752.58 ± 0.833.41
Confirmation level

A close beyond 3.41 or below 1.75 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 55/100

Evidence alignment, not probability

Pressure is 64/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure64 × 42%
+26.8

How strongly activity leans toward calls or puts.

Participation45 × 22%
+9.9

Volume relative to existing open interest and contract-level activity.

Trend agreement34 × 26%
+8.8

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 score55.1Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 4.00; the largest put concentration is 2.00. The most active strike by current volume is 4.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
11
1.00-61.2%
11
3584
2.00-22.5%
566
333
3.0016.3%
2085
40
4.0055.0%
2696
0
5.0093.8%
302
0
6.00132.6%
208
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

1.02× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

1.06 21 Aug 22d
1.24 18 Sep 50d
1.22 16 Oct 78d
1.20 15 Jan 169d
0.99 17 Dec 505d
1.03 21 Jan 540d
1.04 15 Sep 778d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

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

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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
30 Jul 2026
Calculation
v2.0
Contracts
108 / 108
  • 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

92/100
Primary intent Volatility expansion bet

The strongest message is movement risk: expected move and implied volatility are carrying more signal than 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

Volatility expansion bet matters because it connects the options headline to the actual evidence: $898510 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+64
1W price-6.9%
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 0.22 Volume divided by open interest across the visible chain.
Trend fit 34/100 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.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 2602 contracts traded, $325640 estimated gross traded notional, and 36% of visible notional.
$325640
Calls · 46-90 days · OTM calls cluster with 9938 contracts traded, $202020 estimated gross traded notional, and 22% of visible notional.
$202020
Calls · 91+ days · OTM calls cluster with 1213 contracts traded, $124450 estimated gross traded notional, and 14% of visible notional.
$124450
Calls · 91+ days · ITM calls cluster with 457 contracts traded, $119120 estimated gross traded notional, and 13% of visible notional.
$119120
Calls · 8-21 days · OTM calls cluster with 3256 contracts traded, $95005 estimated gross traded notional, and 11% of visible notional.
$95005

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.

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

Sharemaestro weekly
Close2.58
1W-6.9%
RS-13.2
Fair value-66.1%
Options pressure64
Speculation45
Volatility96
Trend fit34

Today Versus Normal

Stored-options context

View history
Expected move 32.0% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 1.06 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 0.24 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.22 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:28 Volatility
Pressure -65
Move 35.9%
30 Jul 11:13 Volatility
Pressure -21
Move 30.0%
31 Jul 10:50 Volatility
Pressure 64
Move 32.0%

Strike Map

Where activity is clustering

Full strike map
Strike1.00
Calls · V 0 · OI 11
Puts · V 0 · OI 11
Strike2.00
Calls · V 17 · OI 566
Puts · V 48 · OI 3584
Strike3.00
Calls · V 945 · OI 2085
Puts · V 375 · OI 333
Strike4.00
Calls · V 1762 · OI 2696
Puts · V 63 · OI 40
Strike5.00
Calls · V 473 · OI 302
Puts · V 3 · OI 0
Strike6.00
Calls · V 76 · OI 208
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts12
Avg IV1.06
Put-call0.15
Expiry18 Sep 2026
Contracts12
Avg IV1.24
Put-call0.23
Expiry16 Oct 2026
Contracts18
Avg IV1.22
Put-call0.03
Expiry15 Jan 2027
Contracts18
Avg IV1.20
Put-call1.47
Expiry17 Dec 2027
Contracts16
Avg IV0.99
Put-call0.06

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV1.01
Put IV1.23
Skew0.22
18 Sep 2026Call IV premium
Call IV1.03
Put IV0.82
Skew-0.20
16 Oct 2026Put IV premium
Call IV0.96
Put IV1.39
Skew0.43
15 Jan 2027Put IV premium
Call IV0.86
Put IV1.27
Skew0.41
17 Dec 2027Put IV premium
Call IV0.96
Put IV1.21
Skew0.25

Contract Tape

Most active contracts

Full contract tape
ContractXRX261016C00006000
SideCall
Expiry16 Oct 2026
Strike6.00
Volume8660
OI322
IV1.05
ContractXRX260821C00004000
SideCall
Expiry21 Aug 2026
Strike4.00
Volume1762
OI2696
IV1.01
ContractXRX280121P00003000
SidePut
Expiry21 Jan 2028
Strike3.00
Volume1155
OI345
IV1.32
ContractXRX270115P00003000
SidePut
Expiry15 Jan 2027
Strike3.00
Volume1110
OI974
IV1.11
ContractXRX260821C00003000
SideCall
Expiry21 Aug 2026
Strike3.00
Volume945
OI2085
IV1.10
ContractXRX261016C00003000
SideCall
Expiry16 Oct 2026
Strike3.00
Volume520
OI2057
IV1.03
ContractXRX260821C00005000
SideCall
Expiry21 Aug 2026
Strike5.00
Volume473
OI302
IV0.79
ContractXRX280121C00007000
SideCall
Expiry21 Jan 2028
Strike7.00
Volume383
OI15509
IV1.06