Ticker Options Intelligence

BLZE options intelligence

Backblaze Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 60 Market data through 31 Jul 2026 Checked 31 Jul 2026 21:52 · complete available chain

Volatility expansion watch

Volatility pressure

BLZE currently carries volatility options pressure with a 60/100 conviction score. The nearest-chain expected move is 37.0%, with volume/open-interest participation at 0.12.

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

Volatility expansion watch

Expected move 37.0%

Wider near-term move priced

Activity / OI 0.12

Current volume is quieter versus prior open interest

Put-call 0.26

Call-side skew

Trend fit 47

Options are not fully confirming trend

Weekly backdrop +18.2%

RS 77.6

Expected move 37.0%
Put-call volume 0.26
Volume / OI 0.12
Reference IV 1.81
Max pain 10.00
Underlying 11.61
Nearest expiry 21 Aug 2026
Contracts 111

Research Brief

BLZE has a volatility chain read with 60/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 7.31–15.91; The largest call open-interest concentration is 10.00; the largest put concentration is 12.50. The most active strike by current volume is 15.00.

Priced range7.31–15.91
Call concentration10.00
Put concentration12.50
Max pain reference10.00
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 7.31 to 15.91. Max pain at 10.00 sits inside that range, 13.9% below spot.

Spot Max pain
7.3111.61 ± 4.3015.91
Confirmation level

A close beyond 15.91 or below 7.31 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 60/100

Evidence alignment, not probability

Pressure is 68/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure68 × 42%
+28.6

How strongly activity leans toward calls or puts.

Participation43 × 22%
+9.4

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

Trend agreement47 × 26%
+12.1

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 score59.7Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 10.00; the largest put concentration is 12.50. The most active strike by current volume is 15.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
24
5.00-56.9%
1
187
7.50-35.4%
99
233
10.00-13.9%
1759
403
12.507.7%
565
272
15.0029.2%
1639
41
17.5050.7%
686
142
20.0072.3%
319
0
22.5093.8%
264
0
25.00115.3%
347
0
30.00158.4%
211
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.76× front/back

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

1.81 21 Aug 21d
1.29 18 Sep 49d
1.18 16 Oct 77d
1.12 18 Dec 140d
1.05 15 Jan 168d
1.04 16 Apr 259d
1.03 17 Jun 321d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

10
13
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

High

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
111 / 111
  • 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

88/100
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: $549452 of estimated gross traded notional, calls · 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+68
1W price+18.2%
Call premium89%
Put premium11%
Notional split C 89% / P 11% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.12 Volume divided by open interest across the visible chain.
Trend fit 47/100 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.
Conviction clusters Calls · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 739 contracts traded, $224130 estimated gross traded notional, and 41% of visible notional.
$224130
Calls · 91+ days · ITM calls cluster with 162 contracts traded, $102735 estimated gross traded notional, and 19% of visible notional.
$102735
Calls · 46-90 days · OTM calls cluster with 298 contracts traded, $67718 estimated gross traded notional, and 12% of visible notional.
$67718
Calls · 46-90 days · ITM calls cluster with 50 contracts traded, $41670 estimated gross traded notional, and 8% of visible notional.
$41670
Calls · 8-21 days · OTM calls cluster with 243 contracts traded, $41022 estimated gross traded notional, and 7% of visible notional.
$41022

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

-

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
Close13.72
1W+18.2%
RS77.6
Fair value+101.0%
Options pressure68
Speculation43
Volatility96
Trend fit47

Today Versus Normal

Stored-options context

View history
Expected move 37.0% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 1.81 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.26 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.12 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 11:27 Volatility
Pressure 98
Move 31.0%
30 Jul 11:12 Volatility
Pressure 100
Move 30.8%
31 Jul 10:45 Volatility
Pressure 73
Move 32.5%
31 Jul 13:54 Volatility
Pressure 72
Move 32.9%
31 Jul 16:38 Volatility
Pressure 65
Move 33.4%
31 Jul 18:33 Volatility
Pressure 64
Move 31.9%
31 Jul 19:41 Volatility
Pressure 67
Move 32.1%
31 Jul 20:52 Volatility
Pressure 68
Move 37.0%

Strike Map

Where activity is clustering

Full strike map
Strike5.00
Calls · V 10 · OI 1
Puts · V 10 · OI 24
Strike7.50
Calls · V 2 · OI 99
Puts · V 12 · OI 187
Strike10.00
Calls · V 4 · OI 1759
Puts · V 12 · OI 233
Strike12.50
Calls · V 53 · OI 565
Puts · V 58 · OI 403
Strike15.00
Calls · V 155 · OI 1639
Puts · V 3 · OI 272
Strike17.50
Calls · V 25 · OI 686
Puts · V 2 · OI 41
Strike20.00
Calls · V 6 · OI 319
Puts · V 20 · OI 142
Strike22.50
Calls · V 1 · OI 264
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts17
Avg IV1.81
Put-call0.45
Expiry18 Sep 2026
Contracts14
Avg IV1.29
Put-call0.06
Expiry16 Oct 2026
Contracts19
Avg IV1.18
Put-call0.85
Expiry18 Dec 2026
Contracts14
Avg IV1.12
Put-call0.49
Expiry15 Jan 2027
Contracts18
Avg IV1.05
Put-call0.71

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV1.45
Put IV1.45
Skew0.00
18 Sep 2026Balanced skew
Call IV1.26
Put IV1.24
Skew-0.02
16 Oct 2026Balanced skew
Call IV1.08
Put IV1.11
Skew0.03
18 Dec 2026Call IV premium
Call IV1.10
Put IV1.04
Skew-0.06
15 Jan 2027Balanced skew
Call IV1.02
Put IV0.97
Skew-0.05

Contract Tape

Most active contracts

Full contract tape
ContractBLZE261016P00017500
SidePut
Expiry16 Oct 2026
Strike17.50
Volume-
OI155
IV0.99
ContractBLZE261016P00020000
SidePut
Expiry16 Oct 2026
Strike20.00
Volume-
OI91
IV1.02
ContractBLZE261016P00002500
SidePut
Expiry16 Oct 2026
Strike2.50
Volume-
OI20
IV2.96
ContractBLZE270115P00020000
SidePut
Expiry15 Jan 2027
Strike20.00
Volume-
OI11
IV0.98
ContractBLZE270416C00022500
SideCall
Expiry16 Apr 2027
Strike22.50
Volume-
OI2
IV1.02
ContractBLZE270416C00025000
SideCall
Expiry16 Apr 2027
Strike25.00
Volume-
OI1
IV1.01
ContractBLZE270416P00012500
SidePut
Expiry16 Apr 2027
Strike12.50
Volume-
OI1
IV0.98
ContractBLZE270416C00020000
SideCall
Expiry16 Apr 2027
Strike20.00
Volume-
OI1
IV1.01