Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
CDNS options intelligence
Cadence Design Systems Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 30 Jul 2026
Checked 31 Jul 2026 01:19 · partial chain
Put-side pressure
Bearish pressure
CDNS currently carries bearish options pressure with a 49/100 conviction score. The nearest-chain expected move is 3.1%, with volume/open-interest participation at 0.07.
Expected move
3.1%
Near-term move context
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
2.06
Put-side skew
Trend fit
72
Options agree with trend context
Weekly backdrop
+4.2%
RS -5.8
Expected move
3.1%
Put-call volume
2.06
Volume / OI
0.07
Reference IV
0.52
Max pain
340.00
Underlying
326.24
Nearest expiry
31 Jul 2026
Contracts
2000
Research Brief
CDNS has a bearish chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 315.97–336.51; The largest call open-interest concentration is 390.00; the largest put concentration is 337.50. The most active strike by current volume is 350.00.
Priced range315.97–336.51
Call concentration390.00
Put concentration337.50
Max pain reference340.00
- 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 315.97 to 336.51. Max pain at 340.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
315.97326.24 ± 10.27336.51
Confirmation level
A close beyond 336.51 or below 315.97 at the 31 Jul 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 49/100
Pressure is 40/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure40 × 42%
+16.7
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement72 × 26%
+18.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility49 × 10%
+4.9
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 390.00; the largest put concentration is 337.50. The most active strike by current volume is 350.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
357
250.00-23.4%
1
378
280.00-14.2%
2
293
290.00-11.1%
1
191
295.00-9.6%
5
140
315.00-3.4%
178
410
320.00-1.9%
4
315
330.001.2%
44
724
337.503.5%
37
178
340.004.2%
85
18
350.007.3%
111
120
355.008.8%
108
14
370.0013.4%
223
24
375.0014.9%
223
10
380.0016.5%
201
2
385.0018.0%
74
0
390.0019.5%
376
1
415.0027.2%
224
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.52
31 Jul
1d
0.50
7 Aug
8d
0.47
14 Aug
15d
0.46
21 Aug
22d
0.47
28 Aug
29d
0.47
4 Sep
36d
0.45
11 Sep
43d
0.46
18 Sep
50d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
263
270
275
283
288
295
300
308
313
320
328
333
340
345
353
358
365
370
378
383
390
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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
Usable with limits
Retained chain99%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 30 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 2014
- 99% of provider contracts were retained for this snapshot.
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: $4.9M of estimated gross traded notional, calls · 91+ days · otm, 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-40
1W price+4.2%
Call premium42%
Put premium58%
Notional split
C 42% / P 58%
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
72/100
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 · OTM
calls cluster with 600 contracts traded, $1.5M estimated gross traded notional, and 30% of visible notional.
$1.5M
Puts · 22-45 days · OTM
puts cluster with 3980 contracts traded, $1.1M estimated gross traded notional, and 23% of visible notional.
$1.1M
Puts · 0-7 days · ITM
puts cluster with 384 contracts traded, $787955 estimated gross traded notional, and 16% of visible notional.
$787955
Puts · 0-7 days · ATM
puts cluster with 473 contracts traded, $272152 estimated gross traded notional, and 6% of visible notional.
$272152
Puts · 91+ days · ITM
puts cluster with 34 contracts traded, $247570 estimated gross traded notional, and 5% of visible notional.
$247570
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Activity Anomaly
Warming up
2 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 2 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close340.02
1W+4.2%
RS-5.8
Fair value+13.9%
Options pressure-40
Speculation42
Volatility49
Trend fit72
Today Versus Normal
Stored-options context
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
30d avg - · 2/10 sessions
-
90d avg - · 2/30 sessions
-
180d avg - · 2/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:02
Volatility
Pressure -51
Move 7.1%
30 Jul 10:01
Bullish
Pressure 40
Move 4.3%
31 Jul 00:19
Bearish
Pressure -40
Move 3.1%
Strike Map
Where activity is clustering
Strike205.00
Calls · V 0 · OI 2
Puts · V 13 · OI 14
Strike210.00
Calls · V 0 · OI 1
Puts · V 14 · OI 5
Strike215.00
Calls · V 0 · OI 29
Puts · V 4 · OI 12
Strike220.00
Calls · V 0 · OI 1
Puts · V 8 · OI 6
Strike225.00
Calls · V 0 · OI 3
Puts · V 0 · OI 87
Strike230.00
Calls · V 0 · OI 2
Puts · V 0 · OI 81
Strike235.00
Calls · V 0 · OI 3
Puts · V 0 · OI 85
Strike240.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts206
Avg IV0.52
Put-call0.53
Expiry7 Aug 2026
Contracts196
Avg IV0.50
Put-call4.06
Expiry14 Aug 2026
Contracts186
Avg IV0.47
Put-call0.85
Expiry21 Aug 2026
Contracts208
Avg IV0.46
Put-call0.15
Expiry28 Aug 2026
Contracts126
Avg IV0.47
Put-call360.09
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.49
Put IV0.64
Skew0.15
7 Aug 2026Balanced skew
Call IV0.49
Put IV0.52
Skew0.03
14 Aug 2026Balanced skew
Call IV0.46
Put IV0.48
Skew0.02
21 Aug 2026Balanced skew
Call IV0.44
Put IV0.48
Skew0.04
28 Aug 2026Balanced skew
Call IV0.44
Put IV0.48
Skew0.04
Contract Tape
Most active contracts
ContractCDNS260828P00280000
SidePut
Expiry28 Aug 2026
Strike280.00
Volume3950
OI2
IV0.54
ContractCDNS260731C00350000
SideCall
Expiry31 Jul 2026
Strike350.00
Volume469
OI111
IV0.69
ContractCDNS260821C00400000
SideCall
Expiry21 Aug 2026
Strike400.00
Volume257
OI7551
IV0.52
ContractCDNS280121C00500000
SideCall
Expiry21 Jan 2028
Strike500.00
Volume200
OI255
IV0.48
ContractCDNS260731C00340000
SideCall
Expiry31 Jul 2026
Strike340.00
Volume190
OI85
IV0.49
ContractCDNS260731C00385000
SideCall
Expiry31 Jul 2026
Strike385.00
Volume161
OI74
IV0.96
ContractCDNS260821C00415000
SideCall
Expiry21 Aug 2026
Strike415.00
Volume148
OI208
IV0.30
ContractCDNS260731P00330000
SidePut
Expiry31 Jul 2026
Strike330.00
Volume136
OI315
IV0.62
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.