Ticker Options Intelligence

CRAI options intelligence

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

Conviction 27 Market data through 31 Jul 2026 Checked 2 Aug 2026 12:33 · complete available chain

Options-market disagreement

Mixed pressure

CRAI currently carries mixed options pressure with a 27/100 conviction score. The nearest-chain expected move is 8.7%, with volume/open-interest participation at 0.07.

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

Options-market disagreement

Expected move 8.7%

Wider near-term move priced

Activity / OI 0.07

Current volume is quieter versus prior open interest

Put-call 0.67

Call-side skew

Trend fit 51

Options are not fully confirming trend

Weekly backdrop +5.5%

RS -6.9

Expected move 8.7%
Put-call volume 0.67
Volume / OI 0.07
Reference IV 0.47
Max pain 130.00
Underlying 179.03
Nearest expiry 21 Aug 2026
Contracts 64

Research Brief

CRAI has a mixed chain read with 27/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 163.43–194.63; The largest call open-interest concentration is 190.00; the largest put concentration is 110.00. The most active strike by current volume is 95.00.

Priced range163.43–194.63
Call concentration190.00
Put concentration110.00
Max pain reference130.00
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.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 163.43 to 194.63. Max pain at 130.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
163.43179.03 ± 15.60194.63
Confirmation level

A close beyond 194.63 or below 163.43 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 27/100

Evidence alignment, not probability

Pressure is 12/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure12 × 42%
+5.1

How strongly activity leans toward calls or puts.

Participation10 × 22%
+2.1

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

Trend agreement51 × 26%
+13.3

How closely the chain read agrees with the underlying trend backdrop.

Volatility68 × 10%
+6.8

The intensity of implied volatility and the priced move.

Reconstructed score27.3Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 190.00; the largest put concentration is 110.00. The most active strike by current volume is 95.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
1
95.00-46.9%
1
5
100.00-44.1%
0
25
110.00-38.6%
0
0
115.00-35.8%
1
0
120.00-33.0%
1
8
130.00-27.4%
2
0
135.00-24.6%
1
1
140.00-21.8%
2
0
145.00-19.0%
2
0
150.00-16.2%
2
1
160.00-10.6%
1
0
170.00-5.0%
3
0
175.00-2.3%
1
0
190.006.1%
4
1
200.0011.7%
1
0
230.0028.5%
1
1
290.0062.0%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Insufficient term structure

At least two expirations with usable near-the-money implied volatility are required.

0.47 21 Aug 21d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

145
150
155
160
165
170
175
180
185
190
195
200
210
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

A97/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
64 / 64
  • 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

84/100
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 No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $31210 of estimated gross traded notional, puts · 8-21 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+12
1W price+5.5%
Call premium48%
Put premium52%
Notional split C 48% / P 52% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.07 Volume divided by open interest across the visible chain.
Trend fit 51/100 Agreement between options pressure and Sharemaestro market context.
Event window 6 Aug Matched earnings event is 4 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 Puts · 8-21 days · ITM
Puts · 8-21 days · ITM puts cluster with 2 contracts traded, $16210 estimated gross traded notional, and 52% of visible notional.
$16210
Calls · 8-21 days · ITM calls cluster with 2 contracts traded, $14900 estimated gross traded notional, and 48% of visible notional.
$14900
Calls · 8-21 days · OTM calls cluster with 1 contracts traded, $100 estimated gross traded notional, and 0% of visible notional.
$100

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
Close179.03
1W+5.5%
RS-6.9
Fair value+12.8%
Options pressure12
Speculation10
Volatility68
Trend fit51

Today Versus Normal

Stored-options context

View history
Expected move 8.7% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.47 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.67 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.07 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 11:14 Mixed
Pressure -8
Move 11.5%
30 Jul 11:01 Bullish
Pressure 92
Move 10.4%
30 Jul 15:21 Bearish
Pressure -33
Move 24.9%
2 Aug 11:33 Mixed
Pressure 12
Move 8.7%

Strike Map

Where activity is clustering

Full strike map
Strike95.00
Calls · V 1 · OI 1
Puts · V 0 · OI 1
Strike100.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike110.00
Calls · V 0 · OI 0
Puts · V 0 · OI 25
Strike115.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike120.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike125.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike130.00
Calls · V 0 · OI 2
Puts · V 0 · OI 8

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts64
Avg IV0.47
Put-call0.67

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.45
Put IV0.54
Skew0.09

Contract Tape

Most active contracts

Full contract tape
ContractCRAI260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume1
OI1
IV1.27
ContractCRAI260821P00290000
SidePut
Expiry21 Aug 2026
Strike290.00
Volume1
OI1
IV1.07
ContractCRAI260821C00115000
SideCall
Expiry21 Aug 2026
Strike115.00
Volume1
OI1
IV0.90
ContractCRAI260821P00230000
SidePut
Expiry21 Aug 2026
Strike230.00
Volume1
OI-
IV0.61
ContractCRAI260821C00210000
SideCall
Expiry21 Aug 2026
Strike210.00
Volume1
OI-
IV0.24
ContractCRAI260821P00110000
SidePut
Expiry21 Aug 2026
Strike110.00
Volume-
OI25
IV0.69
ContractCRAI260821P00130000
SidePut
Expiry21 Aug 2026
Strike130.00
Volume-
OI8
IV0.46
ContractCRAI260821P00100000
SidePut
Expiry21 Aug 2026
Strike100.00
Volume-
OI5
IV0.81