Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
BAIG options intelligence
LEVERAGE SHARES 2X LONG BBAI DAILY ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
16
Market data through 18 Sep 2026
Checked 19 Sep 2026 03:04 · complete available chain
Options-market disagreement
Mixed pressure
BAIG currently carries mixed options pressure with a 16/100 conviction score. The nearest-chain expected move is 2.9%, with volume/open-interest participation at 0.00.
Expected move
2.9%
Near-term move context
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
36
Options are not fully confirming trend
Weekly backdrop
-5.3%
RS -83.4
Expected move
2.9%
Put-call volume
-
Volume / OI
-
Reference IV
0.56
Max pain
20.00
Underlying
14.00
Nearest expiry
18 Sep 2026
Contracts
280
Research Brief
BAIG has a mixed chain read with 16/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 13.59–14.41; The largest call open-interest concentration is 20.00; the largest put concentration is 20.00. The most active strike by current volume is 10.00.
Priced range13.59–14.41
Call concentration20.00
Put concentration20.00
Max pain reference20.00
- 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 13.59 to 14.41. Max pain at 20.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
13.5914.00 ± 0.4114.41
Confirmation level
A close beyond 14.41 or below 13.59 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 16/100
Pressure is 4/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure4 × 42%
+1.6
How strongly activity leans toward calls or puts.
Participation0 × 22%
+0.0
Volume relative to existing open interest and contract-level activity.
Trend agreement36 × 26%
+9.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility51 × 10%
+5.1
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 20.00; the largest put concentration is 20.00. The most active strike by current volume is 10.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
10.00-28.6%
0
0
11.00-21.4%
0
0
12.00-14.3%
0
1
13.00-7.1%
0
0
14.000.0%
0
0
15.007.1%
0
0
16.0014.3%
0
1
17.0021.4%
0
1
18.0028.6%
0
0
19.0035.7%
0
5
20.0042.9%
6
0
21.0050.0%
0
0
22.0057.1%
0
0
23.0064.3%
0
0
24.0071.4%
0
0
50.00257.2%
2
0
55.00292.9%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Negative gamma proxy
Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile-$192Delta change / 1% move
Positive peak25.00+$86
Negative peak13.00-$496
Nearest balance13.99Interpolated sign change
StrikeNegativePositiveNet / 1% move
5.00-64.3%
-$10
8.00-42.9%
-$21
9.00-35.7%
+$4
10.00-28.6%
+$4
12.00-14.3%
-$4
13.00-7.1%
-$496
14.000.0%
+$5
15.007.1%
-$11
16.0014.3%
+$77
19.0035.7%
+$22
20.0042.9%
+$31
25.0078.6%
+$86
30.00114.3%
+$20
33.00135.7%
+$56
35.00150.0%
+$16
36.00157.2%
+$11
40.00185.7%
+$24
45.00221.4%
-$9
50.00257.2%
+$1
55.00292.9%
+$1
65.00364.3%
+$2
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
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.56
18 Sep
0d
1.25
16 Oct
28d
1.50
20 Nov
63d
1.58
18 Dec
91d
1.59
19 Mar
182d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
12
13
14
15
16
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
15 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing80%
Average expiry move15.1%
18 Sep
Mixed · 16
-5.3% through expiry
2.9% priced · v2.0
16 Sep
Volatility · 68
-5.3% through expiry
8.1% priced · v2.0
14 Sep
Volatility · 52
-5.3% through expiry
12.3% priced · v2.0
10 Sep
Volatility · 69
-9.8% through expiry
17.2% priced · v2.0
4 Sep
Volatility · 68
-9.8% through expiry
19.6% priced · v2.0
2 Sep
Mixed · 21
-18.6% through expiry
21.0% priced · v2.0
31 Aug
Mixed · 28
-18.6% through expiry
23.5% priced · v2.0
20 Aug
Mixed · 25
-4.0% through expiry
22.1% priced · v2.0
19 Aug
Volatility · 53
-4.0% through expiry
18.9% priced · v2.0
18 Aug
Volatility · 68
-4.0% through expiry
20.4% priced · v2.0
5 Aug
Mixed · 36
28.5% through expiry
25.5% priced · v2.0
4 Aug
Volatility · 46
28.5% through expiry
39.5% 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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 18 Sep 2026
- Calculation
- v2.0
- Contracts
- 280 / 280
- 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
Likely noise
Visible options activity is too thin or mixed to support a strong intent classification.
The options read is mixed, so divergence is not strong enough to classify.
Likely noise matters because it connects the options headline to the actual evidence: $0 of estimated gross traded notional, no dominant cluster, 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+4
1W price-5.3%
Call premium0%
Put premium0%
Notional split
C 0% / P 0%
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
36/100
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.
No high-conviction option cluster is visible in this snapshot.
Setup Classification
Opportunity and risk frame
The signal is live, but the strongest framework tags are still developing.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 16 completed sessions
Volume rank12th
Volume/OI rank12th
IV rank0th
Market Context
Underlying confirmation
Close13.25
1W-5.3%
RS-83.4
Fair value-82.3%
Options pressure4
Speculation0
Volatility51
Trend fit36
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 - · 5/10 sessions
-
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg - · 8/10 sessions
-
90d avg - · 16/30 sessions
-
180d avg - · 16/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:59
Volatility
Pressure 100
Move 38.8%
30 Jul 11:34
Volatility
Pressure -96
Move 35.3%
31 Jul 11:12
Volatility
Pressure 100
Move 36.0%
3 Aug 10:07
Volatility
Pressure 100
Move 29.8%
4 Aug 11:23
Volatility
Pressure 100
Move 28.4%
5 Aug 11:52
Volatility
Pressure -55
Move 39.5%
6 Aug 12:00
Mixed
Pressure 5
Move 25.5%
18 Aug 16:53
Bullish
Pressure 43
Move 20.0%
Strike Map
Where activity is clustering
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike11.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike12.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike13.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike14.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts78
Avg IV0.56
Put-call-
Expiry16 Oct 2026
Contracts48
Avg IV1.25
Put-call-
Expiry20 Nov 2026
Contracts42
Avg IV1.50
Put-call-
Expiry18 Dec 2026
Contracts64
Avg IV1.58
Put-call-
Expiry19 Mar 2027
Contracts48
Avg IV1.59
Put-call-
Skew
Call/put IV balance
18 Sep 2026Call IV premium
Call IV0.64
Put IV0.30
Skew-0.34
16 Oct 2026Call IV premium
Call IV1.41
Put IV1.21
Skew-0.20
20 Nov 2026Call IV premium
Call IV1.66
Put IV1.51
Skew-0.16
18 Dec 2026Call IV premium
Call IV1.78
Put IV1.51
Skew-0.27
19 Mar 2027Call IV premium
Call IV1.71
Put IV1.63
Skew-0.08
Contract Tape
Most active contracts
ContractBAIG261016P00013000
SidePut
Expiry16 Oct 2026
Strike13.00
Volume-
OI20
IV1.30
ContractBAIG261218C00025000
SideCall
Expiry18 Dec 2026
Strike25.00
Volume-
OI13
IV1.71
ContractBAIG261218C00033000
SideCall
Expiry18 Dec 2026
Strike33.00
Volume-
OI10
IV1.77
ContractBAIG270319P00008000
SidePut
Expiry19 Mar 2027
Strike8.00
Volume-
OI7
IV1.64
ContractBAIG260918C00020000
SideCall
Expiry18 Sep 2026
Strike20.00
Volume-
OI6
IV3.39
ContractBAIG261218C00040000
SideCall
Expiry18 Dec 2026
Strike40.00
Volume-
OI6
IV1.78
ContractBAIG261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume-
OI5
IV1.63
ContractBAIG261218P00005000
SidePut
Expiry18 Dec 2026
Strike5.00
Volume-
OI5
IV1.90
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.