Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
QQQT options intelligence
DEFIANCE NASDAQ 100 INCOME TARGET ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
28
Market data through 3 Aug 2026
Checked 4 Aug 2026 13:24 · complete available chain
Options-market disagreement
Mixed pressure
QQQT currently carries mixed options pressure with a 28/100 conviction score. The nearest-chain expected move is 4.1%, with volume/open-interest participation at 0.00.
Expected move
4.1%
Near-term move context
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
79
Options agree with trend context
Weekly backdrop
+0.8%
RS -1.8
Expected move
4.1%
Put-call volume
-
Volume / OI
-
Reference IV
0.19
Max pain
18.00
Underlying
17.61
Nearest expiry
21 Aug 2026
Contracts
168
Research Brief
QQQT has a mixed chain read with 28/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 16.88–18.34; The largest call open-interest concentration is 20.00; the largest put concentration is 18.00. The most active strike by current volume is 9.00.
Priced range16.88–18.34
Call concentration20.00
Put concentration18.00
Max pain reference18.00
- 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 16.88 to 18.34. Max pain at 18.00 sits inside that range, 2.2% above spot.
Spot
Max pain
16.8817.61 ± 0.7318.34
Confirmation level
A close beyond 18.34 or below 16.88 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 28/100
Pressure is 11/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure11 × 42%
+4.6
How strongly activity leans toward calls or puts.
Participation0 × 22%
+0.0
Volume relative to existing open interest and contract-level activity.
Trend agreement79 × 26%
+20.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility29 × 10%
+2.9
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 18.00. The most active strike by current volume is 9.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
9.00-48.9%
0
0
10.00-43.2%
0
0
11.00-37.5%
0
0
12.00-31.9%
0
0
13.00-26.2%
0
0
14.00-20.5%
0
0
15.00-14.8%
0
1
16.00-9.1%
0
1
17.00-3.5%
0
6
18.002.2%
0
0
19.007.9%
0
0
20.0013.6%
2
0
21.0019.3%
0
0
22.0024.9%
0
0
23.0030.6%
0
0
24.0036.3%
0
0
25.0042.0%
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+$6,645Delta change / 1% move
Positive peak19.00+$7,613
Negative peak18.00-$853
Nearest balance18.10Interpolated sign change
StrikeNegativePositiveNet / 1% move
15.00-14.8%
-$10
16.00-9.1%
-$66
17.00-3.5%
-$195
18.002.2%
-$853
19.007.9%
+$7,613
20.0013.6%
+$155
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
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
0.19
21 Aug
18d
0.14
18 Sep
46d
0.18
18 Dec
137d
0.07
19 Mar
228d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
15
16
17
18
19
20
21
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 3 Aug 2026
- Calculation
- v2.0
- Contracts
- 168 / 168
- 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
Likely noise
Visible options activity is too thin or mixed to support a strong intent classification.
The options read is mixed, so divergence is not strong enough to classify.
Likely noise matters because it connects the options headline to the actual evidence: $0 of estimated gross traded notional, no dominant cluster, 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+11
1W price+0.8%
Call premium0%
Put premium0%
Notional split
C 0% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
79/100
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.
No high-conviction option cluster is visible in this snapshot.
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Underlying price is close to the max-pain zone.
Activity Anomaly
Warming up
4 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 4 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close17.61
1W+0.8%
RS-1.8
Fair value+17.4%
Options pressure11
Speculation0
Volatility29
Trend fit79
Today Versus Normal
Stored-options context
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 13:00
Bearish
Pressure -89
Move 3.1%
30 Jul 12:53
Bullish
Pressure 100
Move 4.7%
31 Jul 12:23
Mixed
Pressure 11
Move 2.9%
3 Aug 11:13
Bullish
Pressure 100
Move 6.9%
4 Aug 12:24
Mixed
Pressure 11
Move 4.1%
Strike Map
Where activity is clustering
Strike9.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike11.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike12.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike13.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike14.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts42
Avg IV0.19
Put-call-
Expiry18 Sep 2026
Contracts42
Avg IV0.14
Put-call-
Expiry18 Dec 2026
Contracts42
Avg IV0.18
Put-call-
Expiry19 Mar 2027
Contracts42
Avg IV0.07
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.07
Put IV0.09
Skew0.02
18 Sep 2026Put IV premium
Call IV0.04
Put IV0.87
Skew0.83
18 Dec 2026Put IV premium
Call IV0.01
Put IV0.77
Skew0.75
19 Mar 2027Balanced skew
Call IV0.01
Put IV0.04
Skew0.03
Contract Tape
Most active contracts
ContractQQQT261218C00019000
SideCall
Expiry18 Dec 2026
Strike19.00
Volume-
OI173
IV0.06
ContractQQQT261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume-
OI8
IV0.09
ContractQQQT260821P00018000
SidePut
Expiry21 Aug 2026
Strike18.00
Volume-
OI6
IV0.85
ContractQQQT260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume-
OI2
IV0.29
ContractQQQT261218P00018000
SidePut
Expiry18 Dec 2026
Strike18.00
Volume-
OI2
IV0.01
ContractQQQT261218P00017000
SidePut
Expiry18 Dec 2026
Strike17.00
Volume-
OI1
IV0.77
ContractQQQT260918P00017000
SidePut
Expiry18 Sep 2026
Strike17.00
Volume-
OI1
IV0.06
ContractQQQT260821P00016000
SidePut
Expiry21 Aug 2026
Strike16.00
Volume-
OI1
IV0.23
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.