Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
ONIT options intelligence
Onity Group Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
62
Market data through 11 Aug 2026
Checked 12 Aug 2026 03:02 · complete available chain
Volatility expansion watch
Volatility pressure
ONIT currently carries volatility options pressure with a 62/100 conviction score. The nearest-chain expected move is 8.6%, with volume/open-interest participation at 0.02.
Expected move
8.6%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
33.67
Put-side skew
Trend fit
56
Options are not fully confirming trend
Weekly backdrop
+7.4%
RS -15.0
Expected move
8.6%
Put-call volume
33.67
Volume / OI
0.02
Reference IV
0.61
Max pain
35.00
Underlying
39.39
Nearest expiry
21 Aug 2026
Contracts
90
Research Brief
ONIT has a volatility chain read with 62/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 35.99–42.79; The largest call open-interest concentration is 40.00; the largest put concentration is 35.00. The most active strike by current volume is 35.00.
Priced range35.99–42.79
Call concentration40.00
Put concentration35.00
Max pain reference35.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 35.99 to 42.79. Max pain at 35.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
35.9939.39 ± 3.4042.79
Confirmation level
A close beyond 42.79 or below 35.99 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 62/100
Pressure is 86/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure86 × 42%
+35.9
How strongly activity leans toward calls or puts.
Participation18 × 22%
+3.9
Volume relative to existing open interest and contract-level activity.
Trend agreement56 × 26%
+14.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility77 × 10%
+7.7
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 40.00; the largest put concentration is 35.00. The most active strike by current volume is 35.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
20.00-49.2%
0
0
22.50-42.9%
0
45
25.00-36.5%
0
21
30.00-23.8%
0
46
35.00-11.1%
32
8
40.001.5%
181
0
45.0014.2%
0
0
50.0026.9%
3
0
55.0039.6%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
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+$93,302Delta change / 1% move
Positive peak30.00+$58,833
Negative peak35.00-$13,142
Nearest balance36.39Interpolated sign change
StrikeNegativePositiveNet / 1% move
15.00-61.9%
-$5
20.00-49.2%
+$158
25.00-36.5%
-$3,618
30.00-23.8%
+$58,833
35.00-11.1%
-$13,142
40.001.5%
+$34,029
45.0014.2%
-$512
50.0026.9%
+$2,201
55.0039.6%
+$1,721
60.0052.3%
+$358
65.0065.0%
+$13,133
70.0077.7%
+$25
75.0090.4%
+$120
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.61
21 Aug
10d
0.63
18 Sep
38d
0.55
16 Oct
66d
0.59
15 Jan
157d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
35
40
45
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
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
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: $6,235 of estimated gross traded notional, puts · 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-86
1W price+7.4%
Call premium5%
Put premium95%
Notional split
C 5% / P 95%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
56/100
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.
Puts · 8-21 days · OTM
puts cluster with 100 contracts traded, $5,250 estimated gross traded notional, and 84% of visible notional.
$5,250
Puts · 22-45 days · ITM
puts cluster with 1 contracts traded, $670 estimated gross traded notional, and 11% of visible notional.
$670
Calls · 8-21 days · ATM
calls cluster with 2 contracts traded, $270 estimated gross traded notional, and 4% of visible notional.
$270
Calls · 22-45 days · OTM
calls cluster with 1 contracts traded, $45 estimated gross traded notional, and 1% of visible notional.
$45
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
9 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 9 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close39.39
1W+7.4%
RS-15.0
Fair value+17.6%
Options pressure-86
Speculation18
Volatility77
Trend fit56
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 6/10 sessions
-
90d avg - · 6/30 sessions
-
180d avg - · 6/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:37
Volatility
Pressure -91
Move 15.5%
30 Jul 11:16
Volatility
Pressure 100
Move 15.6%
30 Jul 15:35
Bullish
Pressure 55
Move 16.2%
1 Aug 11:10
Volatility
Pressure -30
Move 15.8%
2 Aug 18:39
Volatility
Pressure -30
Move 14.7%
4 Aug 10:43
Volatility
Pressure -91
Move 15.7%
5 Aug 11:13
Volatility
Pressure -58
Move 16.8%
6 Aug 11:20
Volatility
Pressure -91
Move 15.5%
Strike Map
Where activity is clustering
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike22.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 45
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 21
Strike35.00
Calls · V 0 · OI 32
Puts · V 100 · OI 46
Strike40.00
Calls · V 2 · OI 181
Puts · V 0 · OI 8
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts18
Avg IV0.61
Put-call50.00
Expiry18 Sep 2026
Contracts18
Avg IV0.63
Put-call1.00
Expiry16 Oct 2026
Contracts24
Avg IV0.55
Put-call-
Expiry15 Jan 2027
Contracts30
Avg IV0.59
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.65
Put IV0.81
Skew0.16
18 Sep 2026Call IV premium
Call IV0.79
Put IV0.59
Skew-0.20
16 Oct 2026Call IV premium
Call IV0.73
Put IV0.52
Skew-0.20
15 Jan 2027Balanced skew
Call IV0.56
Put IV0.57
Skew0.01
Contract Tape
Most active contracts
ContractONIT260821P00035000
SidePut
Expiry21 Aug 2026
Strike35.00
Volume100
OI46
IV0.81
ContractONIT260821C00040000
SideCall
Expiry21 Aug 2026
Strike40.00
Volume2
OI181
IV0.65
ContractONIT260918C00050000
SideCall
Expiry18 Sep 2026
Strike50.00
Volume1
OI1
IV0.30
ContractONIT260918P00045000
SidePut
Expiry18 Sep 2026
Strike45.00
Volume1
OI-
IV0.58
ContractONIT270115C00030000
SideCall
Expiry15 Jan 2027
Strike30.00
Volume-
OI2347
IV0.65
ContractONIT270115P00035000
SidePut
Expiry15 Jan 2027
Strike35.00
Volume-
OI601
IV0.57
ContractONIT270115C00065000
SideCall
Expiry15 Jan 2027
Strike65.00
Volume-
OI577
IV0.58
ContractONIT270115C00035000
SideCall
Expiry15 Jan 2027
Strike35.00
Volume-
OI311
IV0.60
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.