Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
APP options intelligence
Applovin Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
34
Market data through 31 Jul 2026
Checked 1 Aug 2026 16:49 · partial chain
Options-market disagreement
Mixed pressure
APP currently carries mixed options pressure with a 34/100 conviction score. The nearest-chain expected move is 14.0%, with volume/open-interest participation at 0.12.
Expected move
14.0%
Wider near-term move priced
Activity / OI
0.12
Current volume is quieter versus prior open interest
Put-call
0.81
Balanced tape
Trend fit
40
Options are not fully confirming trend
Weekly backdrop
+1.0%
RS -30.8
Expected move
14.0%
Put-call volume
0.81
Volume / OI
0.12
Reference IV
1.26
Max pain
425.00
Underlying
395.90
Nearest expiry
7 Aug 2026
Contracts
2000
Research Brief
APP has a mixed chain read with 34/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 340.45–451.35; The largest call open-interest concentration is 450.00; the largest put concentration is 300.00. The most active strike by current volume is 410.00.
Priced range340.45–451.35
Call concentration450.00
Put concentration300.00
Max pain reference425.00
- 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.
- 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 340.45 to 451.35. Max pain at 425.00 sits inside that range, 7.4% above spot.
Spot
Max pain
340.45395.90 ± 55.45451.35
Confirmation level
A close beyond 451.35 or below 340.45 at the 7 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 34/100
Pressure is 11/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure11 × 42%
+4.6
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.4
Volume relative to existing open interest and contract-level activity.
Trend agreement40 × 26%
+10.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
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 450.00; the largest put concentration is 300.00. The most active strike by current volume is 410.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
443
297.50-24.9%
0
677
300.00-24.2%
22
219
310.00-21.7%
1
297
350.00-11.6%
3
376
360.00-9.1%
3
273
375.00-5.3%
22
236
380.00-4.0%
2
191
390.00-1.5%
5
22
397.500.4%
15
156
400.001.0%
122
131
410.003.6%
100
326
420.006.1%
310
86
430.008.6%
203
85
450.0013.7%
418
50
500.0026.3%
321
36
550.0038.9%
346
0
660.0066.7%
415
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.26
7 Aug
7d
1.04
14 Aug
14d
0.93
21 Aug
21d
0.89
28 Aug
28d
0.85
4 Sep
35d
0.82
11 Sep
42d
0.82
18 Sep
49d
0.80
20 Nov
112d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
318
325
333
340
350
358
365
373
380
388
398
405
413
420
428
435
443
453
460
468
475
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
Good
Retained chain66%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 3048
- 66% 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
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $38.4M of estimated gross traded notional, calls · 46-90 days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+11
1W price+1.0%
Call premium55%
Put premium45%
Notional split
C 55% / P 45%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.12
Volume divided by open interest across the visible chain.
Trend fit
40/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 46-90 days · OTM
calls cluster with 2464 contracts traded, $3.4M estimated gross traded notional, and 9% of visible notional.
$3.4M
Puts · 91+ days · OTM
puts cluster with 1084 contracts traded, $2.8M estimated gross traded notional, and 7% of visible notional.
$2.8M
Puts · 91+ days · ITM
puts cluster with 194 contracts traded, $2.8M estimated gross traded notional, and 7% of visible notional.
$2.8M
Calls · 0-7 days · ATM
calls cluster with 991 contracts traded, $2.7M estimated gross traded notional, and 7% of visible notional.
$2.7M
Calls · 0-7 days · OTM
calls cluster with 2931 contracts traded, $2.7M estimated gross traded notional, and 7% of visible notional.
$2.7M
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
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
Close395.90
1W+1.0%
RS-30.8
Fair value+37.9%
Options pressure11
Speculation43
Volatility96
Trend fit40
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 14:43
Mixed
Pressure -4
Move 6.3%
29 Jul 15:06
Mixed
Pressure -3
Move 6.1%
29 Jul 15:30
Mixed
Pressure -3
Move 6.4%
29 Jul 15:54
Mixed
Pressure 1
Move 6.7%
29 Jul 16:11
Mixed
Pressure 2
Move 6.3%
29 Jul 16:38
Mixed
Pressure -11
Move 5.8%
29 Jul 17:00
Mixed
Pressure -10
Move 6.1%
29 Jul 17:21
Mixed
Pressure -10
Move 6.1%
Strike Map
Where activity is clustering
Strike277.50
Calls · V 0 · OI 0
Puts · V 61 · OI 58
Strike280.00
Calls · V 10 · OI 0
Puts · V 79 · OI 106
Strike282.50
Calls · V 0 · OI 0
Puts · V 2 · OI 0
Strike285.00
Calls · V 0 · OI 21
Puts · V 204 · OI 49
Strike287.50
Calls · V 0 · OI 0
Puts · V 10 · OI 0
Strike290.00
Calls · V 0 · OI 0
Puts · V 60 · OI 56
Strike292.50
Calls · V 0 · OI 0
Puts · V 6 · OI 2
Strike295.00
Calls · V 1 · OI 0
Puts · V 95 · OI 37
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts308
Avg IV1.26
Put-call0.65
Expiry14 Aug 2026
Contracts312
Avg IV1.04
Put-call1.07
Expiry21 Aug 2026
Contracts256
Avg IV0.93
Put-call1.60
Expiry28 Aug 2026
Contracts186
Avg IV0.89
Put-call0.92
Expiry4 Sep 2026
Contracts140
Avg IV0.85
Put-call3.26
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV1.17
Put IV1.24
Skew0.08
14 Aug 2026Balanced skew
Call IV0.96
Put IV0.99
Skew0.03
21 Aug 2026Balanced skew
Call IV0.91
Put IV0.94
Skew0.03
28 Aug 2026Balanced skew
Call IV0.84
Put IV0.89
Skew0.05
4 Sep 2026Balanced skew
Call IV0.81
Put IV0.84
Skew0.04
Contract Tape
Most active contracts
ContractAPP260821P00250000
SidePut
Expiry21 Aug 2026
Strike250.00
Volume1322
OI1541
IV1.05
ContractAPP260918C00520000
SideCall
Expiry18 Sep 2026
Strike520.00
Volume1066
OI603
IV0.81
ContractAPP260807C00410000
SideCall
Expiry7 Aug 2026
Strike410.00
Volume666
OI100
IV1.23
ContractAPP260807C00397500
SideCall
Expiry7 Aug 2026
Strike397.50
Volume526
OI15
IV1.30
ContractAPP261120P00300000
SidePut
Expiry20 Nov 2026
Strike300.00
Volume504
OI129
IV0.83
ContractAPP260807C00500000
SideCall
Expiry7 Aug 2026
Strike500.00
Volume469
OI321
IV1.13
ContractAPP260821C00450000
SideCall
Expiry21 Aug 2026
Strike450.00
Volume321
OI498
IV0.95
ContractAPP260807P00297500
SidePut
Expiry7 Aug 2026
Strike297.50
Volume315
OI443
IV1.27
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
Earnings
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.