Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SKHA options intelligence
Tradr 2X Long SK hynix Daily ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
51
Market data through 25 Aug 2026
Checked 25 Aug 2026 15:33 · partial chain
Volatility expansion watch
Volatility pressure
SKHA currently carries volatility options pressure with a 51/100 conviction score. The nearest-chain expected move is 34.8%, with volume/open-interest participation at 0.26.
Expected move
34.8%
Wider near-term move priced
Activity / OI
0.26
Current volume is quieter versus prior open interest
Put-call
5.00
Put-side skew
Trend fit
50
Options are not fully confirming trend
Weekly backdrop
-3.8%
Sharemaestro weekly context
Expected move
34.8%
Put-call volume
5.00
Volume / OI
0.26
Reference IV
1.36
Max pain
20.00
Underlying
30.15
Nearest expiry
18 Sep 2026
Contracts
11
Research Brief
SKHA has a volatility chain read with 51/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.65–40.65; The largest call open-interest concentration is 20.00; the largest put concentration is 32.00. The most active strike by current volume is 32.00.
Priced range19.65–40.65
Call concentration20.00
Put concentration32.00
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 19.65 to 40.65. Max pain at 20.00 sits inside that range, 33.7% below spot.
Spot
Max pain
19.6530.15 ± 10.5040.65
Confirmation level
A close beyond 40.65 or below 19.65 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 51/100
Pressure is 61/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure61 × 42%
+25.6
How strongly activity leans toward calls or puts.
Participation14 × 22%
+3.1
Volume relative to existing open interest and contract-level activity.
Trend agreement50 × 26%
+13.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 20.00; the largest put concentration is 32.00. The most active strike by current volume is 32.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
20.00-33.7%
10
0
26.00-13.8%
0
0
30.00-0.5%
2
2
32.006.1%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
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+$108Delta change / 1% move
Positive peak20.00+$136
Negative peak32.00-$67
Nearest balance30.99Interpolated sign change
StrikeNegativePositiveNet / 1% move
12.00-60.2%
-$13
13.00-56.9%
+$5
14.00-53.6%
+$11
19.00-37.0%
-$9
20.00-33.7%
+$136
22.00-27.0%
-$11
28.00-7.1%
-$9
30.00-0.5%
+$66
32.006.1%
-$67
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
1.36
18 Sep
24d
1.42
18 Dec
115d
1.41
19 Mar
206d
Volatility by Strike
Smile incomplete
There is not enough comparable OTM call and put volatility to classify the smile.
26
30
32
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 18 Sep 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
Good
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 25 Aug 2026
- Calculation
- v2.0
- Contracts
- 11 / 11
- 100% of provider contracts were retained for this snapshot.
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
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $4,952 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-61
1W price-3.8%
Call premium35%
Put premium65%
Notional split
C 35% / P 65%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.26
Volume divided by open interest across the visible chain.
Trend fit
50/100
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.
Puts · 91+ days · OTM
puts cluster with 3 contracts traded, $1,872 estimated gross traded notional, and 38% of visible notional.
$1,872
Calls · 91+ days · ITM
calls cluster with 1 contracts traded, $1,750 estimated gross traded notional, and 35% of visible notional.
$1,750
Puts · 22-45 days · ITM
puts cluster with 2 contracts traded, $1,330 estimated gross traded notional, and 27% of visible notional.
$1,330
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
0 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 0 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close30.15
1W-3.8%
RS-
Fair value+11.6%
Options pressure-61
Speculation14
Volatility96
Trend fit50
Today Versus Normal
Stored-options context
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
Pressure Trail
Recent pressure and volatility
25 Aug 14:33
Volatility
Pressure -61
Move 34.8%
Strike Map
Where activity is clustering
Strike20.00
Calls · V 0 · OI 10
Puts · V 0 · OI 0
Strike26.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 2
Puts · V 0 · OI 0
Strike32.00
Calls · V 0 · OI 0
Puts · V 2 · OI 2
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts4
Avg IV1.36
Put-call-
Expiry18 Dec 2026
Contracts2
Avg IV1.42
Put-call-
Expiry19 Mar 2027
Contracts5
Avg IV1.41
Put-call2.00
Skew
Call/put IV balance
18 Sep 2026Incomplete skew
Call IV-
Put IV1.34
Skew-
18 Dec 2026Incomplete skew
Call IV-
Put IV1.42
Skew-
19 Mar 2027Incomplete skew
Call IV-
Put IV1.43
Skew-
Contract Tape
Most active contracts
ContractSKHA260918C00020000
SideCall
Expiry18 Sep 2026
Strike20.00
Volume-
OI10
IV1.30
ContractSKHA270319C00014000
SideCall
Expiry19 Mar 2027
Strike14.00
Volume-
OI2
IV1.38
ContractSKHA260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume-
OI2
IV1.39
ContractSKHA261218P00019000
SidePut
Expiry18 Dec 2026
Strike19.00
Volume-
OI1
IV1.41
ContractSKHA270319P00030000
SidePut
Expiry19 Mar 2027
Strike30.00
Volume-
OI-
IV1.43
ContractSKHA260918P00026000
SidePut
Expiry18 Sep 2026
Strike26.00
Volume-
OI-
IV1.34
ContractSKHA260918P00032000
SidePut
Expiry18 Sep 2026
Strike32.00
Volume2
OI2
IV1.39
ContractSKHA270319P00012000
SidePut
Expiry19 Mar 2027
Strike12.00
Volume1
OI3
IV1.41
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.