Ticker Options Intelligence

TGS options intelligence

Transportadora de Gas del Sur SA ADR options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 72 Market data through 16 Sep 2026 Checked 17 Sep 2026 13:42 · complete available chain

Volatility expansion watch

Volatility pressure

TGS currently carries volatility options pressure with a 72/100 conviction score. The nearest-chain expected move is 4.5%, with volume/open-interest participation at 0.65.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Volatility

Volatility expansion watch

Expected move 4.5%

Near-term move context

Activity / OI 0.65

Current volume is elevated versus prior open interest

Put-call -

Balanced tape

Trend fit 39

Options are not fully confirming trend

Weekly backdrop +2.1%

RS -7.6

Expected move 4.5%
Put-call volume -
Volume / OI 0.65
Reference IV 1.22
Max pain 30.00
Underlying 29.66
Nearest expiry 18 Sep 2026
Contracts 82

Research Brief

TGS has a volatility chain read with 72/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 28.34–30.98; The largest call open-interest concentration is 30.00; the largest put concentration is 30.00. The most active strike by current volume is 17.50.

Priced range28.34–30.98
Call concentration30.00
Put concentration30.00
Max pain reference30.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
  • Participation is above the ticker's stored normal, which makes the read more noteworthy.
What would weaken it
  • 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

Size, not direction · through 18 Sep

Options imply 28.34 to 30.98. Max pain at 30.00 sits inside that range, 1.1% above spot.

Spot Max pain
28.3429.66 ± 1.3230.98
Confirmation level

A close beyond 30.98 or below 28.34 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 72/100

Evidence alignment, not probability

Pressure is 100/100 toward puts; 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 agreement39 × 26%
+10.1

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

Volatility74 × 10%
+7.4

The intensity of implied volatility and the priced move.

Reconstructed score71.6Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 30.00; the largest put concentration is 30.00. The most active strike by current volume is 17.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
17.50-41.0%
0
0
20.00-32.6%
0
1
22.50-24.1%
0
110
25.00-15.7%
0
227
30.001.1%
265
0
35.0018.0%
0
0
40.0034.9%
0
0
45.0051.7%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Negative gamma proxy

Reported Greeks · 97% coverage

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-$83,508Delta change / 1% move
Positive peak35.00+$1,757
Negative peak25.00-$56,586
Nearest balance34.73Interpolated sign change
StrikeNegativePositiveNet / 1% move
15.00-49.4%
+$711
17.50-41.0%
+$1,638
20.00-32.6%
+$243
22.50-24.1%
+$1,061
25.00-15.7%
-$56,586
30.001.1%
-$30,768
35.0018.0%
+$1,757
40.0034.9%
-$2,383
45.0051.7%
+$818
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

2.55× front/back

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

1.22 18 Sep 2d
0.45 16 Oct 30d
0.49 15 Jan 121d
0.47 16 Apr 212d
0.48 17 Dec 457d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

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

25
30
35
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

11 matured · 7 directional

Across 7 stored directional transitions, the next stored price moved in the labelled direction 43% of the time.

Directional follow-through43%
Moves contained by pricing64%
Average expiry move6.9%
14 Aug Bullish · 37 0.0% through expiry 8.8% priced · v2.0
13 Aug Bearish · 47 -2.4% through expiry 8.0% priced · v2.0
12 Aug Bearish · 59 -2.4% through expiry 8.3% priced · v2.0
10 Aug Bullish · 26 -2.4% through expiry 8.0% priced · v2.0
7 Aug Bearish · 60 -2.4% through expiry 8.0% priced · v2.0
6 Aug Mixed · 32 -11.7% through expiry 10.6% priced · v2.0
5 Aug Mixed · 34 -11.7% through expiry 8.4% priced · v2.0
4 Aug Mixed · 32 -11.7% through expiry 8.2% priced · v2.0
3 Aug Bullish · 33 -11.7% through expiry 11.0% priced · v2.0
31 Jul Volatility · 48 -11.7% through expiry 12.6% priced · v2.0
30 Jul Bullish · 37 -7.8% through expiry 10.8% 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

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
16 Sep 2026
Calculation
v2.0
Contracts
82 / 82
  • 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

81/100
Primary intent Volatility expansion bet

The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.

Flow vs price divergence Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Volatility expansion bet matters because it connects the options headline to the actual evidence: $444,483 of estimated gross traded notional, puts · 91+ 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-100
1W price+2.1%
Call premium0%
Put premium100%
Notional split C 0% / P 100% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.65 Volume divided by open interest across the visible chain.
Trend fit 39/100 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.
Conviction clusters Puts · 91+ days · OTM
Puts · 91+ days · OTM puts cluster with 1964 contracts traded, $405,283 estimated gross traded notional, and 91% of visible notional.
$405,283
Puts · 22-45 days · OTM puts cluster with 1960 contracts traded, $39,200 estimated gross traded notional, and 9% of visible notional.
$39,200

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Activity Anomaly

High anomaly

99

Current options activity is unusually hot versus this ticker's stored history.

Baseline: 23 completed sessions

Volume rank100th
Volume/OI rank96th
IV rank100th

Market Context

Underlying confirmation

Sharemaestro weekly
Close29.66
1W+2.1%
RS-7.6
Fair value+24.3%
Options pressure-100
Speculation55
Volatility74
Trend fit39

Today Versus Normal

Stored-options context

View history
Expected move 4.5% muted
30d avg 7.4% · 10 sessions 10th
90d avg - · 23/30 sessions -
180d avg - · 23/60 sessions -
IV 1.22 elevated
30d avg 0.49 · 10 sessions 100th
90d avg - · 23/30 sessions -
180d avg - · 23/60 sessions -
Put-call - history building
30d avg - · 9/10 sessions -
90d avg - · 19/30 sessions -
180d avg - · 19/60 sessions -
Volume/OI 0.65 elevated
30d avg 0.02 · 10 sessions 100th
90d avg - · 23/30 sessions -
180d avg - · 23/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:41 Volatility
Pressure -100
Move 12.2%
30 Jul 10:38 Volatility
Pressure -100
Move 14.2%
31 Jul 10:24 Bullish
Pressure 88
Move 12.4%
31 Jul 11:06 Bullish
Pressure 56
Move 10.8%
3 Aug 06:20 Volatility
Pressure 88
Move 12.6%
4 Aug 08:18 Bullish
Pressure 52
Move 11.0%
4 Aug 22:09 Mixed
Pressure -4
Move 8.2%
5 Aug 20:24 Mixed
Pressure -8
Move 8.4%

Strike Map

Where activity is clustering

Full strike map
Strike17.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike22.50
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 110
Strike30.00
Calls · V 0 · OI 265
Puts · V 0 · OI 227
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry18 Sep 2026
Contracts16
Avg IV1.22
Put-call-
Expiry16 Oct 2026
Contracts16
Avg IV0.45
Put-call-
Expiry15 Jan 2027
Contracts18
Avg IV0.49
Put-call-
Expiry16 Apr 2027
Contracts16
Avg IV0.47
Put-call-
Expiry17 Dec 2027
Contracts16
Avg IV0.48
Put-call-

Skew

Call/put IV balance

OTM demand
18 Sep 2026Put IV premium
Call IV0.25
Put IV0.94
Skew0.69
16 Oct 2026Call IV premium
Call IV0.40
Put IV0.25
Skew-0.15
15 Jan 2027Put IV premium
Call IV0.53
Put IV0.63
Skew0.10
16 Apr 2027Put IV premium
Call IV0.42
Put IV0.50
Skew0.08
17 Dec 2027Balanced skew
Call IV0.46
Put IV0.43
Skew-0.03

Contract Tape

Most active contracts

Full contract tape
ContractTGS261016P00025000
SidePut
Expiry16 Oct 2026
Strike25.00
Volume1960
OI3097
IV0.25
ContractTGS270115P00025000
SidePut
Expiry15 Jan 2027
Strike25.00
Volume1950
OI353
IV0.63
ContractTGS270115P00022500
SidePut
Expiry15 Jan 2027
Strike22.50
Volume14
OI106
IV0.20
ContractTGS261016P00030000
SidePut
Expiry16 Oct 2026
Strike30.00
Volume-
OI366
IV0.41
ContractTGS260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume-
OI265
IV0.25
ContractTGS270115C00045000
SideCall
Expiry15 Jan 2027
Strike45.00
Volume-
OI244
IV0.29
ContractTGS260918P00030000
SidePut
Expiry18 Sep 2026
Strike30.00
Volume-
OI227
IV0.34
ContractTGS270115C00017500
SideCall
Expiry15 Jan 2027
Strike17.50
Volume-
OI167
IV0.77

Evidence context