Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
QNT options intelligence
Quantinuum Inc. Class A Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 21 Aug 2026
Checked 21 Aug 2026 20:06 · complete available chain
Options-market disagreement
Mixed pressure
QNT currently carries mixed options pressure with a 43/100 conviction score. The nearest-chain expected move is 15.0%, with volume/open-interest participation at 0.08.
Expected move
15.0%
Wider near-term move priced
Activity / OI
0.08
Current volume is quieter versus prior open interest
Put-call
1.11
Balanced tape
Trend fit
93
Options agree with trend context
Weekly backdrop
+8.3%
Sharemaestro weekly context
Expected move
15.0%
Put-call volume
1.11
Volume / OI
0.08
Reference IV
1.19
Max pain
60.00
Underlying
63.59
Nearest expiry
21 Aug 2026
Contracts
166
Research Brief
QNT has a mixed chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 54.04–73.13; The largest call open-interest concentration is 80.00; the largest put concentration is 60.00. The most active strike by current volume is 55.00.
Priced range54.04–73.13
Call concentration80.00
Put concentration60.00
Max pain reference60.00
- 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 54.04 to 73.13. Max pain at 60.00 sits inside that range, 5.6% below spot.
Spot
Max pain
54.0463.59 ± 9.5573.13
Confirmation level
A close beyond 73.13 or below 54.04 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 43/100
Pressure is 1/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure1 × 42%
+0.5
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement93 × 26%
+24.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 80.00; the largest put concentration is 60.00. The most active strike by current volume is 55.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
46
30.00-52.8%
8
241
35.00-45.0%
34
540
40.00-37.1%
182
457
45.00-29.2%
2
591
50.00-21.4%
63
311
55.00-13.5%
193
644
60.00-5.6%
1561
35
65.002.2%
573
1
70.0010.1%
760
4
75.0018.0%
268
12
80.0025.8%
2017
0
85.0033.7%
244
0
90.0041.5%
147
0
95.0049.4%
212
0
100.0057.3%
393
0
110.0073.0%
87
0
120.0088.7%
80
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+$692,632Delta change / 1% move
Positive peak80.00+$231,552
Negative peak55.00-$67,646
Nearest balance56.79Interpolated sign change
StrikeNegativePositiveNet / 1% move
25.00-60.7%
-$561
30.00-52.8%
-$3,191
35.00-45.0%
-$4,380
40.00-37.1%
-$5,752
45.00-29.2%
-$31,303
50.00-21.4%
-$61,238
55.00-13.5%
-$67,646
60.00-5.6%
+$121,369
65.002.2%
+$177,198
70.0010.1%
+$158,351
75.0018.0%
+$52,587
80.0025.8%
+$231,552
85.0033.7%
+$40,320
90.0041.5%
+$20,500
95.0049.4%
+$11,786
100.0057.3%
+$24,087
105.0065.1%
+$1,445
110.0073.0%
+$8,504
115.0080.9%
+$5,933
120.0088.7%
+$13,073
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.
1.19
21 Aug
0d
0.83
18 Sep
28d
0.85
16 Oct
56d
0.87
15 Jan
147d
0.88
21 Jan
518d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
55
60
65
70
75
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
1 matured expiry is waiting for a matched weekly closing reference.
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
- 21 Aug 2026
- Calculation
- v2.0
- Contracts
- 166 / 166
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Put-heavy activity matters because it connects the options headline to the actual evidence: $1.3M of estimated gross traded notional, puts · 46-90 days · itm, 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-1
1W price+8.3%
Call premium37%
Put premium63%
Notional split
C 37% / P 63%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.08
Volume divided by open interest across the visible chain.
Trend fit
93/100
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 · 46-90 days · ITM
puts cluster with 67 contracts traded, $165,570 estimated gross traded notional, and 13% of visible notional.
$165,570
Calls · 91+ days · OTM
calls cluster with 225 contracts traded, $149,145 estimated gross traded notional, and 12% of visible notional.
$149,145
Calls · 91+ days · ITM
calls cluster with 59 contracts traded, $137,825 estimated gross traded notional, and 11% of visible notional.
$137,825
Puts · 91+ days · ITM
puts cluster with 35 contracts traded, $129,575 estimated gross traded notional, and 10% of visible notional.
$129,575
Puts · 0-7 days · ITM
puts cluster with 55 contracts traded, $112,950 estimated gross traded notional, and 9% of visible notional.
$112,950
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.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 18 completed sessions
Volume rank56th
Volume/OI rank33th
IV rank72th
Market Context
Underlying confirmation
Close63.59
1W+8.3%
RS-
Fair value+2.3%
Options pressure-1
Speculation42
Volatility96
Trend fit93
Today Versus Normal
Stored-options context
30d avg 18.1% · 18 sessions
22th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
30d avg 1.07 · 18 sessions
72th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
30d avg 0.73 · 18 sessions
78th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
30d avg 0.13 · 18 sessions
33th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:19
Volatility
Pressure 17
Move 23.6%
30 Jul 10:14
Bullish
Pressure 28
Move 21.6%
31 Jul 10:06
Bullish
Pressure 46
Move 20.6%
3 Aug 10:00
Mixed
Pressure 4
Move 21.2%
4 Aug 10:12
Mixed
Pressure -2
Move 23.3%
5 Aug 10:16
Volatility
Pressure 78
Move 23.1%
6 Aug 10:15
Volatility
Pressure 81
Move 22.8%
7 Aug 08:44
Volatility
Pressure 42
Move 23.7%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 1 · OI 8
Puts · V 10 · OI 46
Strike35.00
Calls · V 1 · OI 34
Puts · V 4 · OI 241
Strike40.00
Calls · V 1 · OI 182
Puts · V 1 · OI 540
Strike45.00
Calls · V 1 · OI 2
Puts · V 1 · OI 457
Strike50.00
Calls · V 21 · OI 63
Puts · V 15 · OI 591
Strike55.00
Calls · V 41 · OI 193
Puts · V 69 · OI 311
Strike60.00
Calls · V 7 · OI 1561
Puts · V 45 · OI 644
Strike65.00
Calls · V 7 · OI 573
Puts · V 45 · OI 35
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts33
Avg IV1.19
Put-call1.30
Expiry18 Sep 2026
Contracts29
Avg IV0.83
Put-call0.82
Expiry16 Oct 2026
Contracts34
Avg IV0.85
Put-call2.76
Expiry15 Jan 2027
Contracts35
Avg IV0.87
Put-call0.59
Expiry21 Jan 2028
Contracts35
Avg IV0.88
Put-call0.54
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV1.41
Put IV1.25
Skew-0.16
18 Sep 2026Call IV premium
Call IV0.85
Put IV0.79
Skew-0.06
16 Oct 2026Call IV premium
Call IV0.87
Put IV0.80
Skew-0.07
15 Jan 2027Call IV premium
Call IV0.91
Put IV0.84
Skew-0.08
21 Jan 2028Call IV premium
Call IV0.94
Put IV0.82
Skew-0.13
Contract Tape
Most active contracts
ContractQNT280121C00025000
SideCall
Expiry21 Jan 2028
Strike25.00
Volume-
OI7
IV0.98
ContractQNT270115P00080000
SidePut
Expiry15 Jan 2027
Strike80.00
Volume-
OI2
IV0.82
ContractQNT260918P00080000
SidePut
Expiry18 Sep 2026
Strike80.00
Volume-
OI2
IV0.88
ContractQNT260918C00035000
SideCall
Expiry18 Sep 2026
Strike35.00
Volume-
OI1
IV1.22
ContractQNT261016P00050000
SidePut
Expiry16 Oct 2026
Strike50.00
Volume111
OI491
IV0.80
ContractQNT260918C00060000
SideCall
Expiry18 Sep 2026
Strike60.00
Volume85
OI201
IV0.83
ContractQNT270115C00080000
SideCall
Expiry15 Jan 2027
Strike80.00
Volume82
OI74
IV0.92
ContractQNT270115C00110000
SideCall
Expiry15 Jan 2027
Strike110.00
Volume76
OI162
IV0.95
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.