Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
TYL options intelligence
Tyler Technologies Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
60
Market data through 12 Aug 2026
Checked 13 Aug 2026 11:42 · complete available chain
Put-side pressure
Bearish pressure
TYL currently carries bearish options pressure with a 60/100 conviction score. The nearest-chain expected move is 6.5%, with volume/open-interest participation at 0.04.
Expected move
6.5%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
5.36
Put-side skew
Trend fit
76
Options agree with trend context
Weekly backdrop
+0.9%
RS -31.5
Expected move
6.5%
Put-call volume
5.36
Volume / OI
0.04
Reference IV
0.48
Max pain
310.00
Underlying
312.45
Nearest expiry
21 Aug 2026
Contracts
320
Research Brief
TYL has a bearish 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 292.25–332.65; The largest call open-interest concentration is 370.00; the largest put concentration is 280.00. The most active strike by current volume is 220.00.
Priced range292.25–332.65
Call concentration370.00
Put concentration280.00
Max pain reference310.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 292.25 to 332.65. Max pain at 310.00 sits inside that range, 0.8% below spot.
Spot
Max pain
292.25312.45 ± 20.20332.65
Confirmation level
A close beyond 332.65 or below 292.25 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
Pressure is 61/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure61 × 42%
+25.5
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement76 × 26%
+19.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility60 × 10%
+6.0
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 370.00; the largest put concentration is 280.00. The most active strike by current volume is 220.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
20
210.00-32.8%
0
7
220.00-29.6%
0
16
240.00-23.2%
0
34
250.00-20.0%
0
60
270.00-13.6%
0
64
280.00-10.4%
12
24
290.00-7.2%
15
30
300.00-4.0%
10
30
310.00-0.8%
18
7
320.002.4%
15
5
330.005.6%
21
4
340.008.8%
16
11
350.0012.0%
44
2
360.0015.2%
29
0
370.0018.4%
1002
0
380.0021.6%
49
0
390.0024.8%
19
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+$1.1MDelta change / 1% move
Positive peak280.00+$306,642
Negative peak290.00-$60,605
Nearest balance314.93Interpolated sign change
StrikeNegativePositiveNet / 1% move
210.00-32.8%
-$44,180
220.00-29.6%
-$2,195
230.00-26.4%
-$3,884
240.00-23.2%
-$26,898
250.00-20.0%
+$61,411
260.00-16.8%
-$34,060
270.00-13.6%
+$260,477
280.00-10.4%
+$306,642
290.00-7.2%
-$60,605
300.00-4.0%
-$38,810
310.00-0.8%
-$37,049
320.002.4%
+$38,094
330.005.6%
+$25,762
340.008.8%
+$24,542
350.0012.0%
+$269,486
360.0015.2%
-$26,680
370.0018.4%
+$55,567
380.0021.6%
+$147,177
390.0024.8%
+$9,710
400.0028.0%
+$97,285
410.0031.2%
+$23,039
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.
0.48
21 Aug
9d
0.48
18 Sep
37d
0.49
18 Dec
128d
0.49
19 Mar
219d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
250
260
270
280
290
300
310
320
330
340
350
360
370
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
- 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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 320 / 320
- 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
Put-heavy activity
Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.
Put-side pressure is building while price is rising, a cautionary divergence.
Put-heavy activity matters because it connects the options headline to the actual evidence: $283,048 of estimated gross traded notional, calls · 91+ days · itm, and a bearish flow against rising 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+0.9%
Call premium85%
Put premium15%
Notional split
C 85% / P 15%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
Volume divided by open interest across the visible chain.
Trend fit
76/100
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.
Calls · 91+ days · ITM
calls cluster with 28 contracts traded, $227,920 estimated gross traded notional, and 81% of visible notional.
$227,920
Puts · 22-45 days · OTM
puts cluster with 125 contracts traded, $30,900 estimated gross traded notional, and 11% of visible notional.
$30,900
Calls · 22-45 days · OTM
calls cluster with 11 contracts traded, $8,340 estimated gross traded notional, and 3% of visible notional.
$8,340
Puts · 8-21 days · OTM
puts cluster with 107 contracts traded, $4,010 estimated gross traded notional, and 1% of visible notional.
$4,010
Calls · 91+ days · OTM
calls cluster with 2 contracts traded, $3,965 estimated gross traded notional, and 1% of visible notional.
$3,965
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.
Underlying price is close to the max-pain zone.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 11 completed sessions
Volume rank73th
Volume/OI rank64th
IV rank0th
Market Context
Underlying confirmation
Close312.45
1W+0.9%
RS-31.5
Fair value-34.2%
Options pressure-61
Speculation41
Volatility60
Trend fit76
Today Versus Normal
Stored-options context
30d avg 10.6% · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.55 · 11 sessions
0th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 8.74 · 11 sessions
64th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
30d avg 0.05 · 11 sessions
64th
90d avg - · 11/30 sessions
-
180d avg - · 11/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:25
Volatility
Pressure 84
Move 17.2%
30 Jul 10:21
Volatility
Pressure 90
Move 17.3%
31 Jul 10:11
Mixed
Pressure 6
Move 13.4%
2 Aug 19:16
Mixed
Pressure -14
Move 9.9%
4 Aug 10:06
Mixed
Pressure -8
Move 8.8%
5 Aug 10:15
Volatility
Pressure -80
Move 9.4%
6 Aug 10:14
Bearish
Pressure -87
Move 8.5%
7 Aug 11:00
Bearish
Pressure -69
Move 8.3%
Strike Map
Where activity is clustering
Strike180.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike185.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike190.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike195.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike200.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike210.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Strike220.00
Calls · V 0 · OI 0
Puts · V 95 · OI 7
Strike230.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts60
Avg IV0.48
Put-call36.33
Expiry18 Sep 2026
Contracts98
Avg IV0.48
Put-call11.36
Expiry18 Dec 2026
Contracts84
Avg IV0.49
Put-call0.07
Expiry19 Mar 2027
Contracts78
Avg IV0.49
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.49
Put IV0.49
Skew-
18 Sep 2026Balanced skew
Call IV0.46
Put IV0.49
Skew0.03
18 Dec 2026Balanced skew
Call IV0.47
Put IV0.52
Skew0.05
19 Mar 2027Balanced skew
Call IV0.46
Put IV0.50
Skew0.04
Contract Tape
Most active contracts
ContractTYL260821P00220000
SidePut
Expiry21 Aug 2026
Strike220.00
Volume95
OI7
IV0.77
ContractTYL260918P00250000
SidePut
Expiry18 Sep 2026
Strike250.00
Volume58
OI89
IV0.54
ContractTYL261218C00250000
SideCall
Expiry18 Dec 2026
Strike250.00
Volume28
OI357
IV0.53
ContractTYL260918P00260000
SidePut
Expiry18 Sep 2026
Strike260.00
Volume24
OI93
IV0.50
ContractTYL260918P00240000
SidePut
Expiry18 Sep 2026
Strike240.00
Volume14
OI131
IV0.61
ContractTYL260918P00270000
SidePut
Expiry18 Sep 2026
Strike270.00
Volume12
OI89
IV0.50
ContractTYL260821P00300000
SidePut
Expiry21 Aug 2026
Strike300.00
Volume10
OI30
IV0.49
ContractTYL260918C00350000
SideCall
Expiry18 Sep 2026
Strike350.00
Volume8
OI318
IV0.47
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.