The reading strengthens
Price and activity agree
- Price remains weak while put-side concentration persists.
RESEARCH / OPTIONS
Options session20 Aug 202664 stored contracts
Checking for a newer reading. Your saved analysis remains available below and will update automatically.
Activity balance
Put-heavy
Saved calculation: refresh needed before comparing trend agreement. Weekly price context: 2026-08-14.
Since 14 Aug 2026
Options balance-97.7 points
Stock reference+0.0%
Coverage note Older session: use this as a saved reading. This reading predates the latest evidence checks. Option strikes do not match the stock price closely enough. Check the price reference and contract adjustments.
- Volume / open interest
- 0.01×
- Reference IV
- 40.9%Annualised
Earlier saved readingOptions dated 20 Aug 2026
Collected 21 Aug, 10:06 BSTThe shape of the options market
Read the chain at a glance.
Turn a reading into questions
Three paths to watch.
Price stays near its level
Time becomes more important
Compare the cost of waiting with the move already reflected in premiums. A quiet stock can still have expensive options.
Explore a range scenario →The reading weakens
Check what stops agreeing
- Price recovers while put pressure fades or reverses toward calls.
- A current reading with dated stock context is needed before checking trend agreement.
Explore the possibilities
One view. Every trade-off.
Choose an outlook, then move the stock price. The chart shows what you pay, where you break even, and what you can gain or lose.
Same position. Different paths.
Estimated profit or loss as price and remaining time change. Columns are scenarios, not probabilities.
What moves this position?
Modelled sensitivity for the entire position at the reference price. Change an input and see how the balance changes.
Expiry profit or loss follows the entered legs. Earlier values use a European option model with constant volatility and the stated rate and dividend yield. US stock options can be exercised early; assignment, changing volatility and execution prices can change actual results.
Inside the position
Edit strikes and premiums to test your own assumptionsOptions balance over time
Session history →Saved pressure readings
Dated readings using the same calculation version. Positive is call-heavy; negative is put-heavy.
A reading needs context
What has changed over time?
Volatility through saved sessions
Annualised reference IV. The available strikes and nearest expiry may change between readings; this is not a constant-maturity series.
Activity relative to outstanding positions
Session volume divided by open interest. A rising ratio means more turnover relative to outstanding contracts, not necessarily new positions.
Outcome record Completed observations only
Stock-price direction through expiry, using the first available weekly close on or just after expiry. These are not option-trade returns.
| Record | Followed direction | Always up | Always down | 95% interval |
|---|---|---|---|---|
| Earlier saved readings Too few independent outcomes to establish an edge. | 0 / 1 | 100% | 0% | 0–79% |
Earlier saved readings are reviewed retrospectively, separately from readings recorded in advance. Overlapping periods are excluded. The comparison uses the same stocks and dates; costs and option execution are not tested.
Read the picture
Options, in plain sight.
01 Price is only part of the story
A call can lose value even when the stock rises. The rise may be too small, time may run out, or implied volatility may fall. Use the lab to hold price steady and change days or volatility.
Price movement+Time remaining+Volatility→Option value
02 Volume is activity, not intent
Volume counts contracts traded during a session. Every transaction has a buyer and a seller. Call-heavy activity alone does not tell us who initiated the trade or whether it was part of a hedge.
Buyer⇄One contract traded⇄Seller
03 Open interest is an outstanding position
Open interest counts contracts still outstanding, usually reported after clearing. A busy session does not necessarily create new positions. A large concentration at a strike is a place to investigate, not a guaranteed support or resistance level.
04 A priced move has no direction
A near-money call and put can describe the cost of exposure to a move in either direction. The displayed range is a pricing reference. It is neither a price target nor a fixed probability interval.
Lower reference←Stock price→Upper reference
05 A high IV needs a comparison
Implied volatility describes the movement reflected in option prices, expressed as an annualised percentage. Compare the same stock across expiries, strikes and dated history. A high value alone does not prove an option is expensive.
06 The spread is part of the cost
The bid is the quoted selling price; the ask is the quoted buying price. Their difference matters, especially on a position with several legs. A midpoint is an estimate, not an assured fill. Saved-quote playbooks buy at the ask and sell at the bid.
Bid · sell← spread →Ask · buy
Learn more: OIC: understanding the Greeks ↗ · OIC: strategy reference ↗