Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
NBIZ options intelligence
Tradr 2X Short NBIS Daily ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
61
Market data through 18 Sep 2026
Checked 18 Sep 2026 23:52 · partial chain
Call-side pressure
Bullish pressure
NBIZ currently carries bullish options pressure with a 61/100 conviction score. The nearest-chain expected move is 2.5%, with volume/open-interest participation at 0.64.
Expected move
2.5%
Near-term move context
Activity / OI
0.64
Current volume is elevated versus prior open interest
Put-call
0.04
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-0.8%
Sharemaestro weekly context
Expected move
2.5%
Put-call volume
0.04
Volume / OI
0.64
Reference IV
5.29
Max pain
5.00
Underlying
6.00
Nearest expiry
18 Sep 2026
Contracts
117
Research Brief
NBIZ has a bullish chain read with 61/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 5.85–6.15; The largest call open-interest concentration is 7.00; the largest put concentration is 5.00. The most active strike by current volume is 8.00.
Priced range5.85–6.15
Call concentration7.00
Put concentration5.00
Max pain reference5.00
- Price holds or improves while call-side concentration remains elevated.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- 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
Options imply 5.85 to 6.15. Max pain at 5.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
5.856.00 ± 0.156.15
Confirmation level
A close beyond 6.15 or below 5.85 at the 18 Sep 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 61/100
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.
Participation55 × 22%
+12.1
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.
Volatility66 × 10%
+6.6
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 7.00; the largest put concentration is 5.00. The most active strike by current volume is 8.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
12
2.00-66.7%
0
16
3.00-50.0%
2
135
4.00-33.3%
25
174
5.00-16.7%
483
142
6.000.0%
242
25
7.0016.7%
2095
13
8.0033.3%
2081
28
9.0050.0%
69
5
10.0066.7%
130
12
11.0083.3%
1
1
12.00100.0%
7
2
13.00116.7%
7
0
14.00133.3%
20
0
15.00150.0%
25
4
17.00183.3%
0
1
20.00233.3%
7
0
35.00483.3%
10
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+$46,529Delta change / 1% move
Positive peak7.00+$28,978
Negative peak4.00-$562
Nearest balance4.21Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.00-66.7%
-$2
3.00-50.0%
-$2
4.00-33.3%
-$562
5.00-16.7%
+$2,080
6.000.0%
+$6,145
7.0016.7%
+$28,978
8.0033.3%
+$8,442
9.0050.0%
+$988
10.0066.7%
+$322
11.0083.3%
-$6
12.00100.0%
+$59
13.00116.7%
+$21
14.00133.3%
-$34
15.00150.0%
+$56
16.00166.7%
+$1
17.00183.3%
-$2
19.00216.7%
+$9
20.00233.3%
+$7
24.00300.0%
+$2
28.00366.7%
+$3
30.00400.0%
+$7
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
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
6.25
18 Sep
0d
1.63
16 Oct
28d
1.63
18 Dec
91d
1.98
15 Jan
119d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
5
6
7
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
6 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing0%
Average expiry move64.4%
18 Aug
Volatility · 57
52.6% through expiry
37.2% priced · v2.0
5 Aug
Volatility · 62
-64.4% through expiry
46.2% priced · v2.0
4 Aug
Volatility · 58
-64.4% through expiry
53.9% priced · v2.0
3 Aug
Mixed · 45
-64.4% through expiry
54.8% priced · v2.0
31 Jul
Volatility · 57
-64.4% through expiry
53.1% priced · v2.0
30 Jul
Volatility · 61
-76.3% through expiry
54.1% priced · v2.0
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
Good
Retained chain100%
Implied volatility86%
Two-sided quotes99%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 18 Sep 2026
- Calculation
- v2.0
- Contracts
- 117 / 117
- 100% of provider contracts were retained for this snapshot.
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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $327,792 of estimated gross traded notional, calls · 22-45 days · otm, and a bullish flow against weak 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 premium76%
Put premium24%
Notional split
C 76% / P 24%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.64
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.
Calls · 22-45 days · OTM
calls cluster with 2022 contracts traded, $161,033 estimated gross traded notional, and 49% of visible notional.
$161,033
Puts · 91+ days · ITM
puts cluster with 59 contracts traded, $47,992 estimated gross traded notional, and 15% of visible notional.
$47,992
Calls · 91+ days · OTM
calls cluster with 276 contracts traded, $42,309 estimated gross traded notional, and 13% of visible notional.
$42,309
Calls · 0-7 days · OTM
calls cluster with 2910 contracts traded, $19,242 estimated gross traded notional, and 6% of visible notional.
$19,242
Calls · 91+ days · ITM
calls cluster with 31 contracts traded, $16,460 estimated gross traded notional, and 5% of visible notional.
$16,460
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Options positioning is not confirming the underlying trend context.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Baseline: 16 completed sessions
Volume rank100th
Volume/OI rank88th
IV rank100th
Market Context
Underlying confirmation
Close6.00
1W-0.8%
RS-
Fair value-97.2%
Options pressure100
Speculation55
Volatility66
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 8/10 sessions
-
90d avg - · 16/30 sessions
-
180d avg - · 16/60 sessions
-
30d avg - · 8/10 sessions
-
90d avg - · 16/30 sessions
-
180d avg - · 16/60 sessions
-
30d avg - · 8/10 sessions
-
90d avg - · 16/30 sessions
-
180d avg - · 16/60 sessions
-
30d avg - · 8/10 sessions
-
90d avg - · 16/30 sessions
-
180d avg - · 16/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 12:45
Volatility
Pressure 92
Move 73.5%
30 Jul 12:41
Volatility
Pressure 82
Move 87.3%
30 Jul 15:08
Volatility
Pressure -1
Move 49.0%
30 Jul 15:35
Volatility
Pressure -1
Move 47.7%
30 Jul 19:50
Volatility
Pressure -4
Move 44.0%
31 Jul 11:07
Volatility
Pressure -31
Move 54.1%
3 Aug 13:14
Volatility
Pressure 78
Move 53.1%
3 Aug 15:40
Mixed
Pressure -16
Move 54.8%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 1 · OI 0
Puts · V 0 · OI 0
Strike2.00
Calls · V 3 · OI 0
Puts · V 1 · OI 12
Strike3.00
Calls · V 1 · OI 2
Puts · V 15 · OI 16
Strike4.00
Calls · V 3 · OI 25
Puts · V 1 · OI 135
Strike5.00
Calls · V 14 · OI 483
Puts · V 1 · OI 174
Strike6.00
Calls · V 38 · OI 242
Puts · V 26 · OI 142
Strike7.00
Calls · V 852 · OI 2095
Puts · V 1 · OI 25
Strike8.00
Calls · V 2001 · OI 2081
Puts · V 7 · OI 13
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts42
Avg IV6.25
Put-call0.03
Expiry16 Oct 2026
Contracts15
Avg IV1.63
Put-call0.01
Expiry18 Dec 2026
Contracts31
Avg IV1.63
Put-call0.16
Expiry15 Jan 2027
Contracts29
Avg IV1.98
Put-call1.51
Skew
Call/put IV balance
18 Sep 2026Put IV premium
Call IV1.75
Put IV15.47
Skew13.72
16 Oct 2026Call IV premium
Call IV1.57
Put IV1.47
Skew-0.10
18 Dec 2026Put IV premium
Call IV1.56
Put IV1.61
Skew0.05
15 Jan 2027Balanced skew
Call IV1.56
Put IV1.59
Skew0.03
Contract Tape
Most active contracts
ContractNBIZ270115P00004000
SidePut
Expiry15 Jan 2027
Strike4.00
Volume-
OI64
IV4.51
ContractNBIZ270115C00008000
SideCall
Expiry15 Jan 2027
Strike8.00
Volume-
OI21
IV1.66
ContractNBIZ261016P00004000
SidePut
Expiry16 Oct 2026
Strike4.00
Volume-
OI10
IV2.40
ContractNBIZ260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume-
OI5
IV-
ContractNBIZ260918C00039000
SideCall
Expiry18 Sep 2026
Strike39.00
Volume-
OI3
IV19.38
ContractNBIZ261218P00002000
SidePut
Expiry18 Dec 2026
Strike2.00
Volume-
OI3
IV3.55
ContractNBIZ270115P00002000
SidePut
Expiry15 Jan 2027
Strike2.00
Volume-
OI3
IV3.34
ContractNBIZ270115P00003000
SidePut
Expiry15 Jan 2027
Strike3.00
Volume-
OI3
IV1.67
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.