Ticker Options Intelligence

FWONA options intelligence

Liberty Media Corporation Series A Liberty Formula One Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 56 Market data through 31 Jul 2026 Checked 31 Jul 2026 18:44 · complete available chain

Volatility expansion watch

Volatility pressure

FWONA currently carries volatility options pressure with a 56/100 conviction score. The nearest-chain expected move is 19.6%, with volume/open-interest participation at 0.52.

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

Volatility expansion watch

Expected move 19.6%

Wider near-term move priced

Activity / OI 0.52

Current volume is elevated versus prior open interest

Put-call 0.03

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop +0.8%

RS -4.4

Expected move 19.6%
Put-call volume 0.03
Volume / OI 0.52
Reference IV 0.82
Max pain 65.00
Underlying 89.08
Nearest expiry 21 Aug 2026
Contracts 32

Research Brief

FWONA has a volatility chain read with 56/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 71.61–106.54; The largest call open-interest concentration is 85.00; the largest put concentration is 100.00. The most active strike by current volume is 85.00.

Priced range71.61–106.54
Call concentration85.00
Put concentration100.00
Max pain reference65.00
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.
  • 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 71.61 to 106.54. Max pain at 65.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
71.6189.08 ± 17.47106.54
Confirmation level

A close beyond 106.54 or below 71.61 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 56/100

Evidence alignment, not probability

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

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation20 × 22%
+4.4

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.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score56.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 85.00; the largest put concentration is 100.00. The most active strike by current volume is 85.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
65.00-27.0%
1
0
85.00-4.6%
13
0
95.006.7%
2
1
100.0012.3%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

2.62× front/back

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

0.82 21 Aug 21d
0.67 18 Sep 49d
0.37 16 Oct 77d
0.31 15 Jan 168d

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.

85
95
100
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

A94/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest97%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
32 / 32
  • 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

Earnings/event positioning

89/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure 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

Earnings/event positioning matters because it connects the options headline to the actual evidence: $23088 of estimated gross traded notional, calls · 46-90 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+100
1W price+0.8%
Call premium99%
Put premium1%
Notional split C 99% / P 1% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.52 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 6 Aug Matched earnings event is 5 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 46-90 days · ITM
Calls · 46-90 days · ITM calls cluster with 8 contracts traded, $10970 estimated gross traded notional, and 48% of visible notional.
$10970
Calls · 8-21 days · ITM calls cluster with 13 contracts traded, $7540 estimated gross traded notional, and 33% of visible notional.
$7540
Calls · 46-90 days · ATM calls cluster with 5 contracts traded, $2475 estimated gross traded notional, and 11% of visible notional.
$2475
Calls · 91+ days · OTM calls cluster with 4 contracts traded, $1050 estimated gross traded notional, and 5% of visible notional.
$1050
Calls · 46-90 days · OTM calls cluster with 5 contracts traded, $918 estimated gross traded notional, and 4% of visible notional.
$918

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

-

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

Sharemaestro weekly
Close89.81
1W+0.8%
RS-4.4
Fair value+17.8%
Options pressure100
Speculation20
Volatility96
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 19.6% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.82 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.03 history building
30d avg - · 0/10 sessions -
90d avg - · 0/30 sessions -
180d avg - · 0/60 sessions -
Volume/OI 0.52 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:19 Mixed
Pressure 11
Move 8.4%
30 Jul 10:13 Mixed
Pressure 11
Move 8.7%
31 Jul 10:06 Mixed
Pressure 11
Move 7.5%
31 Jul 14:48 Volatility
Pressure 100
Move 14.6%
31 Jul 16:45 Volatility
Pressure 100
Move 16.1%
31 Jul 17:16 Volatility
Pressure 100
Move 19.5%
31 Jul 17:44 Volatility
Pressure 100
Move 19.6%

Strike Map

Where activity is clustering

Full strike map
Strike65.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike85.00
Calls · V 13 · OI 13
Puts · V 0 · OI 0
Strike95.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts4
Avg IV0.82
Put-call-
Expiry18 Sep 2026
Contracts3
Avg IV0.67
Put-call-
Expiry16 Oct 2026
Contracts17
Avg IV0.37
Put-call0.06
Expiry15 Jan 2027
Contracts8
Avg IV0.31
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Incomplete skew
Call IV0.53
Put IV-
Skew-
18 Sep 2026Incomplete skew
Call IV-
Put IV-
Skew-
16 Oct 2026Call IV premium
Call IV0.43
Put IV0.13
Skew-0.31
15 Jan 2027Incomplete skew
Call IV0.40
Put IV-
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractFWONA260918P00120000
SidePut
Expiry18 Sep 2026
Strike120.00
Volume-
OI-
IV0.79
ContractFWONA270115C00120000
SideCall
Expiry15 Jan 2027
Strike120.00
Volume-
OI3
IV0.55
ContractFWONA260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume-
OI2
IV0.53
ContractFWONA260918P00110000
SidePut
Expiry18 Sep 2026
Strike110.00
Volume-
OI1
IV0.64
ContractFWONA261016C00040000
SideCall
Expiry16 Oct 2026
Strike40.00
Volume-
OI1
IV0.91
ContractFWONA260821C00065000
SideCall
Expiry21 Aug 2026
Strike65.00
Volume-
OI1
IV1.37
ContractFWONA260821P00100000
SidePut
Expiry21 Aug 2026
Strike100.00
Volume-
OI1
IV0.73
ContractFWONA260918P00105000
SidePut
Expiry18 Sep 2026
Strike105.00
Volume-
OI1
IV0.57