Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
OSCR options intelligence
Oscar Health Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
58
Market data through 5 Aug 2026
Checked 5 Aug 2026 20:01 · complete available chain
Volatility expansion watch
Volatility pressure
OSCR currently carries volatility options pressure with a 58/100 conviction score. The nearest-chain expected move is 11.9%, with volume/open-interest participation at 0.07.
Expected move
11.9%
Wider near-term move priced
Activity / OI
0.07
Current volume is quieter versus prior open interest
Put-call
0.31
Call-side skew
Trend fit
56
Options are not fully confirming trend
Weekly backdrop
+10.7%
RS 54.4
Expected move
11.9%
Put-call volume
0.31
Volume / OI
0.07
Reference IV
1.63
Max pain
28.50
Underlying
31.22
Nearest expiry
7 Aug 2026
Contracts
760
Research Brief
OSCR has a volatility chain read with 58/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 27.52–34.92; The largest call open-interest concentration is 38.00; the largest put concentration is 29.00. The most active strike by current volume is 35.00.
Priced range27.52–34.92
Call concentration38.00
Put concentration29.00
Max pain reference28.50
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- Options and the weekly trend are not yet giving the same message.
- 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 27.52 to 34.92. Max pain at 28.50 sits inside that range, 8.7% below spot.
Spot
Max pain
27.5231.22 ± 3.7034.92
Confirmation level
A close beyond 34.92 or below 27.52 at the 7 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 58/100
Pressure is 59/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure59 × 42%
+25.0
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.2
Volume relative to existing open interest and contract-level activity.
Trend agreement56 × 26%
+14.4
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 38.00; the largest put concentration is 29.00. The most active strike by current volume is 35.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
46
23.50-24.7%
0
345
25.00-19.9%
30
217
26.00-16.7%
27
80
27.50-11.9%
607
380
28.00-10.3%
166
415
29.00-7.1%
412
212
30.00-3.9%
445
97
30.50-2.3%
237
67
31.00-0.7%
573
281
31.500.9%
299
4
32.002.5%
586
5
33.005.7%
630
4
34.008.9%
481
0
35.0012.1%
483
2
37.0018.5%
770
0
38.0021.7%
1115
0
40.0028.1%
577
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+$3.5MDelta change / 1% move
Positive peak35.00+$1.3M
Negative peak28.00-$333,915
Nearest balance29.50Interpolated sign change
StrikeNegativePositiveNet / 1% move
26.00-16.7%
-$110,762
26.50-15.1%
-$10,463
27.00-13.5%
+$26,386
27.50-11.9%
+$24,190
28.00-10.3%
-$333,915
28.50-8.7%
-$4,287
29.00-7.1%
-$5,216
29.50-5.5%
-$3,432
30.00-3.9%
+$425,369
30.50-2.3%
+$21,547
31.00-0.7%
+$56,851
31.500.9%
+$4,436
32.002.5%
+$254,825
32.504.1%
+$23,727
33.005.7%
+$106,901
33.507.3%
+$23,421
34.008.9%
+$109,682
34.5010.5%
+$24,744
35.0012.1%
+$1.3M
35.5013.7%
+$6,813
36.0015.3%
+$33,135
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.
1.63
7 Aug
2d
1.08
14 Aug
9d
0.93
21 Aug
16d
0.88
28 Aug
23d
0.87
4 Sep
30d
0.81
11 Sep
37d
0.80
18 Sep
44d
0.77
16 Oct
72d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
25
26
26
27
28
28
29
29
30
31
31
32
32
33
34
34
35
35
36
37
37
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
1 stored transitions are available, but none had a directional bullish or bearish label.
Directional follow-through-
Moves contained by pricing100%
Average expiry move10.7%
30 Jul
Mixed · 43
10.7% through expiry
11.6% priced · v2.0
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
- 5 Aug 2026
- Calculation
- v2.0
- Contracts
- 760 / 760
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $9.7M of estimated gross traded notional, calls · 91+ days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+59
1W price+10.7%
Call premium83%
Put premium17%
Notional split
C 83% / P 17%
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
56/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 0 days away.
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 3772 contracts traded, $3.0M estimated gross traded notional, and 31% of visible notional.
$3.0M
Calls · 91+ days · ITM
calls cluster with 1295 contracts traded, $2.3M estimated gross traded notional, and 23% of visible notional.
$2.3M
Calls · 0-7 days · OTM
calls cluster with 11760 contracts traded, $667,444 estimated gross traded notional, and 7% of visible notional.
$667,444
Puts · 91+ days · OTM
puts cluster with 2120 contracts traded, $558,199 estimated gross traded notional, and 6% of visible notional.
$558,199
Puts · 91+ days · ITM
puts cluster with 498 contracts traded, $534,572 estimated gross traded notional, and 6% of visible notional.
$534,572
Setup Classification
Opportunity and risk frame
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
6 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 6 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close31.22
1W+10.7%
RS54.4
Fair value+99.4%
Options pressure59
Speculation42
Volatility96
Trend fit56
Today Versus Normal
Stored-options context
30d avg - · 6/10 sessions
-
90d avg - · 6/30 sessions
-
180d avg - · 6/60 sessions
-
30d avg - · 6/10 sessions
-
90d avg - · 6/30 sessions
-
180d avg - · 6/60 sessions
-
30d avg - · 6/10 sessions
-
90d avg - · 6/30 sessions
-
180d avg - · 6/60 sessions
-
30d avg - · 6/10 sessions
-
90d avg - · 6/30 sessions
-
180d avg - · 6/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:34
Volatility
Pressure 37
Move 12.9%
30 Jul 10:32
Volatility
Pressure 50
Move 11.5%
31 Jul 08:58
Mixed
Pressure -4
Move 11.6%
1 Aug 09:41
Volatility
Pressure 23
Move 17.2%
2 Aug 18:27
Volatility
Pressure 23
Move 13.2%
3 Aug 22:29
Volatility
Pressure 18
Move 12.9%
4 Aug 20:15
Volatility
Pressure 20
Move 12.7%
5 Aug 17:00
Volatility
Pressure 57
Move 12.0%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 1 · OI 1
Puts · V 0 · OI 0
Strike19.00
Calls · V 2 · OI 2
Puts · V 0 · OI 0
Strike20.00
Calls · V 4 · OI 97
Puts · V 10 · OI 240
Strike20.50
Calls · V 21 · OI 7
Puts · V 29 · OI 319
Strike21.00
Calls · V 27 · OI 43
Puts · V 2 · OI 6
Strike21.50
Calls · V 0 · OI 0
Puts · V 7 · OI 8
Strike22.00
Calls · V 16 · OI 63
Puts · V 2 · OI 84
Strike22.50
Calls · V 0 · OI 0
Puts · V 27 · OI 14
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts79
Avg IV1.63
Put-call0.12
Expiry14 Aug 2026
Contracts58
Avg IV1.08
Put-call2.15
Expiry21 Aug 2026
Contracts97
Avg IV0.93
Put-call0.78
Expiry28 Aug 2026
Contracts36
Avg IV0.88
Put-call0.22
Expiry4 Sep 2026
Contracts22
Avg IV0.87
Put-call1.91
Skew
Call/put IV balance
7 Aug 2026Call IV premium
Call IV1.71
Put IV1.65
Skew-0.06
14 Aug 2026Balanced skew
Call IV1.08
Put IV1.05
Skew-0.03
21 Aug 2026Call IV premium
Call IV0.97
Put IV0.88
Skew-0.09
28 Aug 2026Balanced skew
Call IV0.89
Put IV0.87
Skew-0.02
4 Sep 2026Balanced skew
Call IV0.87
Put IV0.86
Skew-0.01
Contract Tape
Most active contracts
ContractOSCR270319P00032000
SidePut
Expiry19 Mar 2027
Strike32.00
Volume-
OI286
IV0.74
ContractOSCR261120P00042000
SidePut
Expiry20 Nov 2026
Strike42.00
Volume-
OI50
IV0.78
ContractOSCR260821C00024500
SideCall
Expiry21 Aug 2026
Strike24.50
Volume-
OI42
IV0.90
ContractOSCR270219P00027000
SidePut
Expiry19 Feb 2027
Strike27.00
Volume-
OI31
IV0.75
ContractOSCR260904C00026000
SideCall
Expiry4 Sep 2026
Strike26.00
Volume-
OI16
IV0.77
ContractOSCR270521P00030000
SidePut
Expiry21 May 2027
Strike30.00
Volume-
OI15
IV0.72
ContractOSCR270115P00038000
SidePut
Expiry15 Jan 2027
Strike38.00
Volume-
OI14
IV0.77
ContractOSCR260828C00020000
SideCall
Expiry28 Aug 2026
Strike20.00
Volume-
OI10
IV1.41
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
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.