Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
ALGT options intelligence
Allegiant Travel Company options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
39
Market data through 30 Jul 2026
Checked 31 Jul 2026 11:32 · complete available chain
Options-market disagreement
Mixed pressure
ALGT currently carries mixed options pressure with a 39/100 conviction score. The nearest-chain expected move is 15.9%, with volume/open-interest participation at 0.01.
Expected move
15.9%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
1.38
Put-side skew
Trend fit
95
Options agree with trend context
Weekly backdrop
+0.0%
RS 9.9
Expected move
15.9%
Put-call volume
1.38
Volume / OI
0.01
Reference IV
0.81
Max pain
120.00
Underlying
98.08
Nearest expiry
21 Aug 2026
Contracts
212
Research Brief
ALGT has a mixed chain read with 39/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 82.48–113.68; The largest call open-interest concentration is 175.00; the largest put concentration is 50.00. The most active strike by current volume is 50.00.
Priced range82.48–113.68
Call concentration175.00
Put concentration50.00
Max pain reference120.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 82.48 to 113.68. Max pain at 120.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
82.4898.08 ± 15.60113.68
Confirmation level
A close beyond 113.68 or below 82.48 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 39/100
Pressure is 9/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure9 × 42%
+4.0
How strongly activity leans toward calls or puts.
Participation4 × 22%
+0.8
Volume relative to existing open interest and contract-level activity.
Trend agreement95 × 26%
+24.7
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 175.00; the largest put concentration is 50.00. The most active strike by current volume is 50.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
322
50.00-49.0%
0
10
75.00-23.5%
0
25
80.00-18.4%
2
20
85.00-13.3%
2
7
90.00-8.2%
51
14
95.00-3.1%
1
147
100.002.0%
8
3
105.007.1%
13
1
110.0012.2%
10
2
115.0017.3%
28
152
120.0022.3%
11
0
125.0027.4%
62
0
130.0032.5%
35
0
135.0037.6%
16
0
140.0042.7%
2
0
145.0047.8%
4
0
175.0078.4%
438
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.
0.81
21 Aug
22d
0.72
18 Sep
50d
0.70
16 Oct
78d
0.68
15 Jan
169d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
80
85
90
95
100
105
110
115
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 212 / 212
- 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
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: $5585 of estimated gross traded notional, calls · 91+ 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-9
1W price+0.0%
Call premium90%
Put premium10%
Notional split
C 90% / P 10%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
95/100
Agreement between options pressure and Sharemaestro market context.
Event window
3 Aug
Matched earnings event is 2 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 · 91+ days · OTM
calls cluster with 5 contracts traded, $3740 estimated gross traded notional, and 67% of visible notional.
$3740
Calls · 46-90 days · OTM
calls cluster with 2 contracts traded, $905 estimated gross traded notional, and 16% of visible notional.
$905
Puts · 8-21 days · OTM
puts cluster with 11 contracts traded, $575 estimated gross traded notional, and 10% of visible notional.
$575
Calls · 8-21 days · OTM
calls cluster with 1 contracts traded, $365 estimated gross traded notional, and 7% of visible notional.
$365
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
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
Close98.08
1W+0.0%
RS9.9
Fair value+37.9%
Options pressure-9
Speculation4
Volatility96
Trend fit95
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:58
Mixed
Pressure 10
Move 15.9%
30 Jul 10:47
Volatility
Pressure 67
Move 15.7%
31 Jul 10:32
Mixed
Pressure -9
Move 15.9%
Strike Map
Where activity is clustering
Strike50.00
Calls · V 0 · OI 0
Puts · V 9 · OI 322
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike65.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 10
Strike80.00
Calls · V 0 · OI 2
Puts · V 0 · OI 25
Strike85.00
Calls · V 0 · OI 2
Puts · V 2 · OI 20
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts52
Avg IV0.81
Put-call11.00
Expiry18 Sep 2026
Contracts44
Avg IV0.72
Put-call-
Expiry16 Oct 2026
Contracts58
Avg IV0.70
Put-call-
Expiry15 Jan 2027
Contracts58
Avg IV0.68
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.78
Put IV0.87
Skew0.10
18 Sep 2026Put IV premium
Call IV0.69
Put IV0.77
Skew0.08
16 Oct 2026Put IV premium
Call IV0.63
Put IV0.74
Skew0.11
15 Jan 2027Put IV premium
Call IV0.65
Put IV0.72
Skew0.07
Contract Tape
Most active contracts
ContractALGT260821P00050000
SidePut
Expiry21 Aug 2026
Strike50.00
Volume9
OI322
IV0.97
ContractALGT270115C00150000
SideCall
Expiry15 Jan 2027
Strike150.00
Volume3
OI7
IV0.65
ContractALGT270115C00120000
SideCall
Expiry15 Jan 2027
Strike120.00
Volume2
OI28
IV0.65
ContractALGT260821P00085000
SidePut
Expiry21 Aug 2026
Strike85.00
Volume2
OI20
IV0.86
ContractALGT261016C00120000
SideCall
Expiry16 Oct 2026
Strike120.00
Volume1
OI174
IV0.65
ContractALGT260821C00110000
SideCall
Expiry21 Aug 2026
Strike110.00
Volume1
OI10
IV0.78
ContractALGT260918C00120000
SideCall
Expiry18 Sep 2026
Strike120.00
Volume1
OI-
IV0.69
ContractALGT260821C00175000
SideCall
Expiry21 Aug 2026
Strike175.00
Volume-
OI438
IV0.78
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
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.