Ticker Options Intelligence

NOA options intelligence

North American Construction Group Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 49 Market data through 31 Jul 2026 Checked 2 Aug 2026 09:08 · complete available chain

Volatility expansion watch

Volatility pressure

NOA currently carries volatility options pressure with a 49/100 conviction score. The nearest-chain expected move is 27.2%, with volume/open-interest participation at 0.23.

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

Volatility expansion watch

Expected move 27.2%

Wider near-term move priced

Activity / OI 0.23

Current volume is quieter versus prior open interest

Put-call 0.16

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop -2.3%

RS -11.5

Expected move 27.2%
Put-call volume 0.16
Volume / OI 0.23
Reference IV 1.49
Max pain 15.00
Underlying 13.60
Nearest expiry 21 Aug 2026
Contracts 24

Research Brief

NOA has a volatility chain read with 49/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 9.90–17.30; The largest call open-interest concentration is 15.00; the largest put concentration is 12.50. The most active strike by current volume is 17.50.

Priced range9.90–17.30
Call concentration15.00
Put concentration12.50
Max pain reference15.00
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 9.90 to 17.30. Max pain at 15.00 sits inside that range, 10.3% above spot.

Spot Max pain
9.9013.60 ± 3.7017.30
Confirmation level

A close beyond 17.30 or below 9.90 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 49/100

Evidence alignment, not probability

Pressure is 81/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure81 × 42%
+34.2

How strongly activity leans toward calls or puts.

Participation21 × 22%
+4.7

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

Trend agreement0 × 26%
+0.0

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 score48.5Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 15.00; the largest put concentration is 12.50. 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
2.50-81.6%
0
0
5.00-63.2%
0
94
12.50-8.1%
17
21
15.0010.3%
338
10
17.5028.7%
74
0
20.0047.1%
5
0
22.5065.4%
0
0
25.0083.8%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Model-estimated Greeks · 100% coverage

Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.

Net profile+$13,766Delta change / 1% move
Positive peak15.00+$11,765
Negative peak-No negative strike
Nearest balance-Interpolated sign change
StrikeNegativePositiveNet / 1% move
12.50-8.1%
+$1,241
15.0010.3%
+$11,765
17.5028.7%
+$714
20.0047.1%
+$40
25.0083.8%
+$5
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

1.75× front/back

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

1.49 21 Aug 21d
0.67 20 Nov 112d
0.85 19 Feb 203d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

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

13
15
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

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
  • Auditable calculationoriginal version retained
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

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
31 Jul 2026
Calculation
v2.0
Contracts
24 / 24
  • 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

87/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure 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

Earnings/event positioning matters because it connects the options headline to the actual evidence: $53,455 of estimated gross traded notional, calls · 91+ 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+81
1W price-2.3%
Call premium82%
Put premium18%
Notional split C 82% / P 18% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.23 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 12 Aug Matched earnings event is 9 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 91+ days · ITM
Calls · 91+ days · ITM calls cluster with 143 contracts traded, $37,035 estimated gross traded notional, and 69% of visible notional.
$37,035
Puts · 8-21 days · ITM puts cluster with 20 contracts traded, $6,375 estimated gross traded notional, and 12% of visible notional.
$6,375
Calls · 8-21 days · ITM calls cluster with 8 contracts traded, $3,302 estimated gross traded notional, and 6% of visible notional.
$3,302
Calls · 8-21 days · OTM calls cluster with 34 contracts traded, $2,655 estimated gross traded notional, and 5% of visible notional.
$2,655
Puts · 91+ days · ITM puts cluster with 2 contracts traded, $2,230 estimated gross traded notional, and 4% of visible notional.
$2,230

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.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

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

Sharemaestro weekly
Close13.60
1W-2.3%
RS-11.5
Fair value-21.7%
Options pressure81
Speculation21
Volatility96
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 27.2% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 1.49 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.16 history building
30d avg - · 0/10 sessions -
90d avg - · 0/30 sessions -
180d avg - · 0/60 sessions -
Volume/OI 0.23 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:29 Mixed
Pressure 10
Move 22.8%
30 Jul 11:14 Volatility
Pressure -90
Move 11.4%
31 Jul 02:00 Mixed
Pressure 10
Move 13.8%
1 Aug 22:51 Volatility
Pressure 100
Move 12.6%
2 Aug 08:08 Volatility
Pressure 81
Move 27.2%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 1 · OI 0
Puts · V 0 · OI 0
Strike12.50
Calls · V 7 · OI 17
Puts · V 1 · OI 94
Strike15.00
Calls · V 2 · OI 338
Puts · V 10 · OI 21
Strike17.50
Calls · V 20 · OI 74
Puts · V 10 · OI 10
Strike20.00
Calls · V 10 · OI 5
Puts · V 0 · OI 0
Strike22.50
Calls · V 1 · OI 0
Puts · V 0 · OI 0
Strike25.00
Calls · V 1 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts12
Avg IV1.49
Put-call0.50
Expiry20 Nov 2026
Contracts8
Avg IV0.67
Put-call0.07
Expiry19 Feb 2027
Contracts4
Avg IV0.85
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.59
Put IV0.69
Skew0.10
20 Nov 2026Put IV premium
Call IV0.68
Put IV0.99
Skew0.31
19 Feb 2027Incomplete skew
Call IV0.73
Put IV-
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractNOA270219C00012500
SideCall
Expiry19 Feb 2027
Strike12.50
Volume-
OI60
IV0.51
ContractNOA270219P00017500
SidePut
Expiry19 Feb 2027
Strike17.50
Volume-
OI10
IV1.07
ContractNOA261120P00017500
SidePut
Expiry20 Nov 2026
Strike17.50
Volume-
OI10
IV0.94
ContractNOA261120C00017500
SideCall
Expiry20 Nov 2026
Strike17.50
Volume-
OI1
IV1.11
ContractNOA270219C00015000
SideCall
Expiry19 Feb 2027
Strike15.00
Volume-
OI1
IV0.73
ContractNOA260821C00002500
SideCall
Expiry21 Aug 2026
Strike2.50
Volume-
OI-
IV0.00
ContractNOA260821P00025000
SidePut
Expiry21 Aug 2026
Strike25.00
Volume-
OI-
IV0.00
ContractNOA261120P00015000
SidePut
Expiry20 Nov 2026
Strike15.00
Volume-
OI-
IV0.00