Ticker Options Intelligence

HDB options intelligence

HDFC Bank Limited ADR options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 45 Market data through 11 Aug 2026 Checked 12 Aug 2026 11:21 · complete available chain

Call-side pressure

Bullish pressure

HDB currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 4.8%, with volume/open-interest participation at 0.00.

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

Call-side pressure

Expected move 4.8%

Near-term move context

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call 0.08

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop +0.5%

RS -31.0

Expected move 4.8%
Put-call volume 0.08
Volume / OI 0.00
Reference IV 0.44
Max pain 27.50
Underlying 23.63
Nearest expiry 21 Aug 2026
Contracts 90

Research Brief

HDB has a bullish chain read with 45/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 22.51–24.75; The largest call open-interest concentration is 27.50; the largest put concentration is 27.50. The most active strike by current volume is 25.00.

Priced range22.51–24.75
Call concentration27.50
Put concentration27.50
Max pain reference27.50
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • 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

Size, not direction · through 21 Aug

Options imply 22.51 to 24.75. Max pain at 27.50 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
22.5123.63 ± 1.1224.75
Confirmation level

A close beyond 24.75 or below 22.51 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 45/100

Evidence alignment, not probability

Pressure is 90/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure90 × 42%
+37.6

How strongly activity leans toward calls or puts.

Participation12 × 22%
+2.7

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.

Volatility50 × 10%
+5.0

The intensity of implied volatility and the priced move.

Reconstructed score45.3Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 27.50; the largest put concentration is 27.50. The most active strike by current volume is 25.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
2
12.50-47.1%
0
0
15.00-36.5%
0
1
17.50-25.9%
128
54
20.00-15.4%
13
703
22.50-4.8%
5
457
25.005.8%
464
1336
27.5016.4%
722
0
30.0027.0%
218
0
32.5037.5%
4
0
35.0048.1%
2
0
37.5058.7%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported + model-estimated Greeks · 100% coverage

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+$299,836Delta change / 1% move
Positive peak27.50+$351,626
Negative peak22.50-$289,930
Nearest balance23.99Interpolated sign change
StrikeNegativePositiveNet / 1% move
12.50-47.1%
+$53
15.00-36.5%
+$190
17.50-25.9%
+$6,636
20.00-15.4%
-$19,673
22.50-4.8%
-$289,930
25.005.8%
+$196,776
27.5016.4%
+$351,626
30.0027.0%
+$48,042
32.5037.5%
+$1,273
35.0048.1%
+$4,740
37.5058.7%
+$100
40.0069.3%
+$2
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

1.42× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.44 21 Aug 10d
0.27 18 Sep 38d
0.30 16 Oct 66d
0.31 15 Jan 157d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

20
23
25
28
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

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

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
11 Aug 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

Put-heavy activity

88/100
Primary intent Put-heavy activity

Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Put-heavy activity matters because it connects the options headline to the actual evidence: $6,655 of estimated gross traded notional, puts · 91+ days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+90
1W price+0.5%
Call premium39%
Put premium61%
Notional split C 39% / P 61% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.00 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.
Conviction clusters Puts · 91+ days · ITM
Puts · 91+ days · ITM puts cluster with 4 contracts traded, $4,025 estimated gross traded notional, and 60% of visible notional.
$4,025
Calls · 91+ days · ITM calls cluster with 5 contracts traded, $1,552 estimated gross traded notional, and 23% of visible notional.
$1,552
Calls · 91+ days · OTM calls cluster with 24 contracts traded, $715 estimated gross traded notional, and 11% of visible notional.
$715
Calls · 8-21 days · OTM calls cluster with 45 contracts traded, $338 estimated gross traded notional, and 5% of visible notional.
$338
Puts · 8-21 days · OTM puts cluster with 2 contracts traded, $25 estimated gross traded notional, and 0% of visible notional.
$25

Setup Classification

Opportunity and risk frame

Context, not advice
Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Activity Anomaly

Normal range

27

Activity is broadly in line with recent stored snapshots.

Baseline: 10 completed sessions

Volume rank0th
Volume/OI rank0th
IV rank80th

Market Context

Underlying confirmation

Sharemaestro weekly
Close23.63
1W+0.5%
RS-31.0
Fair value-21.5%
Options pressure90
Speculation12
Volatility50
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 4.8% muted
30d avg 7.3% · 10 sessions 0th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
IV 0.44 elevated
30d avg 0.37 · 10 sessions 80th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
Put-call 0.08 muted
30d avg 0.96 · 10 sessions 0th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -
Volume/OI 0.00 muted
30d avg 0.02 · 10 sessions 0th
90d avg - · 10/30 sessions -
180d avg - · 10/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:01 Mixed
Pressure -9
Move 7.5%
30 Jul 10:01 Mixed
Pressure -9
Move 10.0%
30 Jul 20:18 Mixed
Pressure 2
Move 9.1%
30 Jul 20:54 Mixed
Pressure 0
Move 9.0%
31 Jul 02:50 Bullish
Pressure 46
Move 9.0%
1 Aug 07:19 Mixed
Pressure -18
Move 8.1%
3 Aug 06:29 Mixed
Pressure -18
Move 6.6%
4 Aug 10:02 Mixed
Pressure -13
Move 5.6%

Strike Map

Where activity is clustering

Full strike map
Strike12.50
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.50
Calls · V 0 · OI 128
Puts · V 0 · OI 1
Strike20.00
Calls · V 0 · OI 13
Puts · V 0 · OI 54
Strike22.50
Calls · V 0 · OI 5
Puts · V 2 · OI 703
Strike25.00
Calls · V 45 · OI 464
Puts · V 0 · OI 457
Strike27.50
Calls · V 0 · OI 722
Puts · V 0 · OI 1336
Strike30.00
Calls · V 0 · OI 218
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.44
Put-call0.04
Expiry18 Sep 2026
Contracts20
Avg IV0.27
Put-call-
Expiry16 Oct 2026
Contracts28
Avg IV0.30
Put-call-
Expiry15 Jan 2027
Contracts20
Avg IV0.31
Put-call0.14

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.36
Put IV0.27
Skew-0.09
18 Sep 2026Put IV premium
Call IV0.26
Put IV0.41
Skew0.15
16 Oct 2026Balanced skew
Call IV0.29
Put IV0.26
Skew-0.03
15 Jan 2027Balanced skew
Call IV0.30
Put IV0.30
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractHDB260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume45
OI464
IV0.36
ContractHDB270115C00035000
SideCall
Expiry15 Jan 2027
Strike35.00
Volume20
OI58
IV0.37
ContractHDB270115C00025000
SideCall
Expiry15 Jan 2027
Strike25.00
Volume3
OI1091
IV0.30
ContractHDB270115C00022500
SideCall
Expiry15 Jan 2027
Strike22.50
Volume3
OI679
IV0.31
ContractHDB270115P00035000
SidePut
Expiry15 Jan 2027
Strike35.00
Volume3
OI2
IV0.49
ContractHDB260821P00022500
SidePut
Expiry21 Aug 2026
Strike22.50
Volume2
OI703
IV0.27
ContractHDB270115C00020000
SideCall
Expiry15 Jan 2027
Strike20.00
Volume2
OI145
IV0.30
ContractHDB270115C00030000
SideCall
Expiry15 Jan 2027
Strike30.00
Volume1
OI854
IV0.32

Evidence context