Ticker Options Intelligence

VTRS options intelligence

Viatris Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 52 Market data through 31 Jul 2026 Checked 1 Aug 2026 10:31 · complete available chain

Call-side pressure

Bullish pressure

VTRS currently carries bullish options pressure with a 52/100 conviction score. The nearest-chain expected move is 9.1%, 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 9.1%

Wider near-term move priced

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call 0.09

Call-side skew

Trend fit 12

Options are not fully confirming trend

Weekly backdrop +1.9%

RS 24.3

Expected move 9.1%
Put-call volume 0.09
Volume / OI 0.00
Reference IV 0.43
Max pain 17.00
Underlying 17.24
Nearest expiry 21 Aug 2026
Contracts 164

Research Brief

VTRS has a bullish chain read with 52/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 15.66–18.82; The largest call open-interest concentration is 18.00; the largest put concentration is 16.00. The most active strike by current volume is 19.00.

Priced range15.66–18.82
Call concentration18.00
Put concentration16.00
Max pain reference17.00
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 15.66 to 18.82. Max pain at 17.00 sits inside that range, 1.4% below spot.

Spot Max pain
15.6617.24 ± 1.5818.82
Confirmation level

A close beyond 18.82 or below 15.66 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 52/100

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.

Participation20 × 22%
+4.4

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

Trend agreement12 × 26%
+3.0

How closely the chain read agrees with the underlying trend backdrop.

Volatility67 × 10%
+6.7

The intensity of implied volatility and the priced move.

Reconstructed score51.7Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 18.00; the largest put concentration is 16.00. The most active strike by current volume is 19.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
8.00-53.6%
2
0
9.00-47.8%
0
0
10.00-42.0%
6
0
11.00-36.2%
2
1
12.00-30.4%
5
67
13.00-24.6%
0
249
14.00-18.8%
3
8444
15.00-13.0%
100
12282
16.00-7.2%
1010
6103
17.00-1.4%
1089
256
18.004.4%
3686
0
19.0010.2%
1741
4
20.0016.0%
2040
0
21.0021.8%
5
1
22.0027.6%
9
0
23.0033.4%
5
0
24.0039.2%
25
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.17× front/back

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

0.43 21 Aug 21d
0.38 18 Sep 49d
0.36 16 Oct 77d
0.36 15 Jan 168d
0.37 21 Jan 539d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

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

14
15
16
17
18
19
20
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
31 Jul 2026
Calculation
v2.0
Contracts
164 / 164
  • 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

81/100
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 Bullish flow confirms price

Options pressure and weekly price action are pointing in the same constructive direction.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $68952 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+90
1W price+1.9%
Call premium96%
Put premium4%
Notional split C 96% / P 4% 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 12/100 Agreement between options pressure and Sharemaestro market context.
Event window 6 Aug Matched earnings event is 4 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 · 91+ days · ITM
Calls · 91+ days · ITM calls cluster with 99 contracts traded, $38508 estimated gross traded notional, and 56% of visible notional.
$38508
Calls · 8-21 days · ITM calls cluster with 46 contracts traded, $11540 estimated gross traded notional, and 17% of visible notional.
$11540
Calls · 46-90 days · OTM calls cluster with 89 contracts traded, $6578 estimated gross traded notional, and 10% of visible notional.
$6578
Calls · 8-21 days · OTM calls cluster with 123 contracts traded, $3728 estimated gross traded notional, and 5% of visible notional.
$3728
Calls · 91+ days · OTM calls cluster with 26 contracts traded, $2700 estimated gross traded notional, and 4% of visible notional.
$2700

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.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Warning Bullish pressure over fair value

Call pressure is building while the stock sits above Sharemaestro fair value.

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
Close17.56
1W+1.9%
RS24.3
Fair value+60.8%
Options pressure90
Speculation20
Volatility67
Trend fit12

Today Versus Normal

Stored-options context

View history
Expected move 9.1% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.43 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.09 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.00 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 10:20 Bullish
Pressure 58
Move 9.9%
30 Jul 10:14 Bullish
Pressure 70
Move 10.6%
30 Jul 15:31 Volatility
Pressure -45
Move 9.6%
30 Jul 15:47 Bearish
Pressure -45
Move 9.6%
30 Jul 19:49 Volatility
Pressure -46
Move 9.9%
1 Aug 09:31 Bullish
Pressure 90
Move 9.1%

Strike Map

Where activity is clustering

Full strike map
Strike8.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike9.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 6
Puts · V 0 · OI 0
Strike11.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike12.00
Calls · V 0 · OI 5
Puts · V 0 · OI 1
Strike13.00
Calls · V 0 · OI 0
Puts · V 0 · OI 67
Strike14.00
Calls · V 0 · OI 3
Puts · V 2 · OI 249
Strike15.00
Calls · V 44 · OI 100
Puts · V 0 · OI 8444

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts34
Avg IV0.43
Put-call0.09
Expiry18 Sep 2026
Contracts34
Avg IV0.38
Put-call-
Expiry16 Oct 2026
Contracts36
Avg IV0.36
Put-call0.04
Expiry15 Jan 2027
Contracts40
Avg IV0.36
Put-call0.18
Expiry21 Jan 2028
Contracts20
Avg IV0.37
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.40
Put IV0.50
Skew0.11
18 Sep 2026Put IV premium
Call IV0.34
Put IV0.43
Skew0.10
16 Oct 2026Put IV premium
Call IV0.33
Put IV0.40
Skew0.07
15 Jan 2027Put IV premium
Call IV0.34
Put IV0.41
Skew0.08
21 Jan 2028Put IV premium
Call IV0.35
Put IV0.42
Skew0.08

Contract Tape

Most active contracts

Full contract tape
ContractVTRS260821C00019000
SideCall
Expiry21 Aug 2026
Strike19.00
Volume84
OI1741
IV0.40
ContractVTRS270115C00015000
SideCall
Expiry15 Jan 2027
Strike15.00
Volume78
OI6757
IV0.35
ContractVTRS260918C00018000
SideCall
Expiry18 Sep 2026
Strike18.00
Volume66
OI385
IV0.34
ContractVTRS260821C00015000
SideCall
Expiry21 Aug 2026
Strike15.00
Volume44
OI100
IV0.01
ContractVTRS260821C00018000
SideCall
Expiry21 Aug 2026
Strike18.00
Volume39
OI3686
IV0.42
ContractVTRS261016C00018000
SideCall
Expiry16 Oct 2026
Strike18.00
Volume19
OI1278
IV0.32
ContractVTRS270115C00019000
SideCall
Expiry15 Jan 2027
Strike19.00
Volume18
OI1347
IV0.33
ContractVTRS260821P00016000
SidePut
Expiry21 Aug 2026
Strike16.00
Volume10
OI12282
IV0.50