Ticker Options Intelligence

LUNG options intelligence

Pulmonx Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 71 Market data through 30 Jul 2026 Checked 31 Jul 2026 11:12 · complete available chain

Volatility expansion watch

Volatility pressure

LUNG currently carries volatility options pressure with a 71/100 conviction score. The nearest-chain expected move is 51.3%, with volume/open-interest participation at 0.52.

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

Volatility expansion watch

Expected move 51.3%

Wider near-term move priced

Activity / OI 0.52

Current volume is elevated versus prior open interest

Put-call 6.76

Put-side skew

Trend fit 52

Options are not fully confirming trend

Weekly backdrop +39.3%

RS -9.1

Expected move 51.3%
Put-call volume 6.76
Volume / OI 0.52
Reference IV 1.30
Max pain 1.50
Underlying 1.17
Nearest expiry 21 Aug 2026
Contracts 44

Research Brief

LUNG has a volatility chain read with 71/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 0.57–1.77; The largest call open-interest concentration is 1.50; the largest put concentration is 1.50. The most active strike by current volume is 1.50.

Priced range0.57–1.77
Call concentration1.50
Put concentration1.50
Max pain reference1.50
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
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 21 Aug

Options imply 0.57 to 1.77. Max pain at 1.50 sits inside that range, 28.2% above spot.

Spot Max pain
0.571.17 ± 0.601.77
Confirmation level

A close beyond 1.77 or below 0.57 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 71/100

Evidence alignment, not probability

Pressure is 86/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure86 × 42%
+36.2

How strongly activity leans toward calls or puts.

Participation52 × 22%
+11.4

Volume relative to existing open interest and contract-level activity.

Trend agreement52 × 26%
+13.5

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

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score70.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 1.50; the largest put concentration is 1.50. The most active strike by current volume is 1.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
10
0.50-57.3%
2
2690
1.00-14.5%
1
5205
1.5028.2%
299
30
2.0070.9%
3
0
2.50113.7%
113
0
5.00327.4%
5
0
7.50541.0%
6
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.12× front/back

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

1.30 21 Aug 22d
2.29 18 Sep 50d
1.62 20 Nov 113d
0.76 18 Dec 141d
1.16 19 Feb 204d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

There is not enough comparable OTM call and put volatility to classify the smile.

1
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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
  • 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

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
30 Jul 2026
Calculation
v2.0
Contracts
44 / 44
  • 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

92/100
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: $70944 of estimated gross traded notional, puts · 8-21 days · itm, 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+39.3%
Call premium6%
Put premium94%
Notional split C 6% / P 94% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.52 Volume divided by open interest across the visible chain.
Trend fit 52/100 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 · 8-21 days · ITM
Puts · 8-21 days · ITM puts cluster with 3817 contracts traded, $66798 estimated gross traded notional, and 94% of visible notional.
$66798
Calls · 8-21 days · OTM calls cluster with 546 contracts traded, $3690 estimated gross traded notional, and 5% of visible notional.
$3690
Calls · 91+ days · OTM calls cluster with 10 contracts traded, $325 estimated gross traded notional, and 0% of visible notional.
$325
Calls · 46-90 days · OTM calls cluster with 10 contracts traded, $100 estimated gross traded notional, and 0% of visible notional.
$100
Puts · 8-21 days · OTM puts cluster with 8 contracts traded, $32 estimated gross traded notional, and 0% of visible notional.
$32

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Activity Anomaly

Warming up

-

2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 2 completed sessions

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close1.63
1W+39.3%
RS-9.1
Fair value-71.5%
Options pressure-86
Speculation52
Volatility96
Trend fit52

Today Versus Normal

Stored-options context

View history
Expected move 51.3% history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
IV 1.30 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Put-call 6.76 history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -
Volume/OI 0.52 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:47 Volatility
Pressure -100
Move 55.6%
29 Jul 14:20 Volatility
Pressure -57
Move 44.9%
31 Jul 10:12 Volatility
Pressure -86
Move 51.3%

Strike Map

Where activity is clustering

Full strike map
Strike0.50
Calls · V 0 · OI 2
Puts · V 4 · OI 10
Strike1.00
Calls · V 0 · OI 1
Puts · V 4 · OI 2690
Strike1.50
Calls · V 1 · OI 299
Puts · V 3817 · OI 5205
Strike2.00
Calls · V 309 · OI 3
Puts · V 0 · OI 30
Strike2.50
Calls · V 236 · OI 113
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 5
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 6
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts14
Avg IV1.30
Put-call7.01
Expiry18 Sep 2026
Contracts6
Avg IV2.29
Put-call-
Expiry20 Nov 2026
Contracts6
Avg IV1.62
Put-call-
Expiry18 Dec 2026
Contracts12
Avg IV0.76
Put-call-
Expiry19 Feb 2027
Contracts6
Avg IV1.16
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.62
Put IV1.25
Skew0.63
18 Sep 2026Incomplete skew
Call IV1.94
Put IV-
Skew-
20 Nov 2026Incomplete skew
Call IV0.97
Put IV-
Skew-
18 Dec 2026Put IV premium
Call IV0.41
Put IV0.50
Skew0.09
19 Feb 2027Incomplete skew
Call IV0.34
Put IV-
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractLUNG260821P00001500
SidePut
Expiry21 Aug 2026
Strike1.50
Volume3817
OI5205
IV1.47
ContractLUNG260821C00002000
SideCall
Expiry21 Aug 2026
Strike2.00
Volume309
OI3
IV0.62
ContractLUNG260821C00002500
SideCall
Expiry21 Aug 2026
Strike2.50
Volume236
OI113
IV1.06
ContractLUNG261120C00002500
SideCall
Expiry20 Nov 2026
Strike2.50
Volume10
OI-
IV1.56
ContractLUNG260918C00005000
SideCall
Expiry18 Sep 2026
Strike5.00
Volume10
OI-
IV1.46
ContractLUNG260821P00001000
SidePut
Expiry21 Aug 2026
Strike1.00
Volume4
OI2690
IV1.25
ContractLUNG260821P00000500
SidePut
Expiry21 Aug 2026
Strike0.50
Volume4
OI10
IV2.77
ContractLUNG260821C00001500
SideCall
Expiry21 Aug 2026
Strike1.50
Volume1
OI299
IV2.13