Ticker Options Intelligence

BTAL options intelligence

AGF INVESTMENTS TRUST AGF U.S. MARKET NEUTRAL ANTI-BETA FUND options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 55 Market data through 31 Jul 2026 Checked 3 Aug 2026 11:13 · complete available chain

Call-side pressure

Bullish pressure

BTAL currently carries bullish options pressure with a 55/100 conviction score. The nearest-chain expected move is 5.4%, with volume/open-interest participation at 0.09.

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

Call-side pressure

Expected move 5.4%

Near-term move context

Activity / OI 0.09

Current volume is quieter versus prior open interest

Put-call 0.04

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop +0.6%

RS -19.2

Expected move 5.4%
Put-call volume 0.04
Volume / OI 0.09
Reference IV 0.22
Max pain 11.00
Underlying 12.25
Nearest expiry 21 Aug 2026
Contracts 88

Research Brief

BTAL has a bullish chain read with 55/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 11.59–12.91; The largest call open-interest concentration is 12.00; the largest put concentration is 10.00. The most active strike by current volume is 11.00.

Priced range11.59–12.91
Call concentration12.00
Put concentration10.00
Max pain reference11.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • 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

Size, not direction · through 21 Aug

Options imply 11.59 to 12.91. Max pain at 11.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
11.5912.25 ± 0.6612.91
Confirmation level

A close beyond 12.91 or below 11.59 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 55/100

Evidence alignment, not probability

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

Directional pressure100 × 42%
+42.0

How strongly activity leans toward calls or puts.

Participation42 × 22%
+9.3

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

Trend agreement0 × 26%
+0.0

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

Volatility37 × 10%
+3.7

The intensity of implied volatility and the priced move.

Reconstructed score55.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 12.00; the largest put concentration is 10.00. The most active strike by current volume is 11.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
6.00-51.0%
0
0
7.00-42.9%
0
0
8.00-34.7%
0
0
9.00-26.5%
0
5
10.00-18.4%
0
2
11.00-10.2%
120
1
12.00-2.0%
360
0
13.006.1%
0
0
14.0014.3%
3
0
15.0022.4%
0
0
16.0030.6%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported + model-estimated Greeks · 100% coverage

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+$34,994Delta change / 1% move
Positive peak12.00+$26,865
Negative peak9.00-$197
Nearest balance9.89Interpolated sign change
StrikeNegativePositiveNet / 1% move
8.00-34.7%
-$40
9.00-26.5%
-$197
10.00-18.4%
+$24
11.00-10.2%
+$7,821
12.00-2.0%
+$26,865
13.006.1%
+$109
14.0014.3%
+$37
15.0022.4%
+$400
17.0038.8%
-$25
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

2.73× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.22 21 Aug 21d
0.20 18 Sep 49d
0.11 18 Dec 140d
0.08 19 Mar 231d

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.

10
11
12
13
14
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

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
  • 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

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
88 / 88
  • 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

Multi-expiry position-maintenance candidate

62/100
Primary intent Multi-expiry position-maintenance candidate

Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $11,232 of estimated gross traded notional, calls · 8-21 days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+100
1W price+0.6%
Call premium86%
Put premium14%
Notional split C 86% / P 14% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.09 Volume divided by open interest across the visible chain.
Trend fit 0/100 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. Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Conviction clusters Calls · 8-21 days · ITM
Calls · 8-21 days · ITM calls cluster with 70 contracts traded, $9,100 estimated gross traded notional, and 81% of visible notional.
$9,100
Puts · 8-21 days · ITM puts cluster with 4 contracts traded, $1,520 estimated gross traded notional, and 14% of visible notional.
$1,520
Calls · 46-90 days · OTM calls cluster with 20 contracts traded, $450 estimated gross traded notional, and 4% of visible notional.
$450
Calls · 91+ days · ITM calls cluster with 1 contracts traded, $162 estimated gross traded notional, and 1% of visible notional.
$162

Setup Classification

Opportunity and risk frame

Context, not advice
Negative Options disagreement

Options positioning is not confirming the underlying trend context.

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
Close12.25
1W+0.6%
RS-19.2
Fair value-26.3%
Options pressure100
Speculation42
Volatility37
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 5.4% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.22 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.04 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.09 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 12:05 Bullish
Pressure 100
Move 6.6%
30 Jul 11:42 Bullish
Pressure 100
Move 6.3%
31 Jul 11:13 Bullish
Pressure 100
Move 4.3%
3 Aug 10:13 Bullish
Pressure 100
Move 5.4%

Strike Map

Where activity is clustering

Full strike map
Strike6.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike8.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike9.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike11.00
Calls · V 70 · OI 120
Puts · V 0 · OI 2
Strike12.00
Calls · V 0 · OI 360
Puts · V 0 · OI 1
Strike13.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.22
Put-call0.06
Expiry18 Sep 2026
Contracts22
Avg IV0.20
Put-call-
Expiry18 Dec 2026
Contracts22
Avg IV0.11
Put-call-
Expiry19 Mar 2027
Contracts22
Avg IV0.08
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.15
Put IV0.07
Skew-0.08
18 Sep 2026Call IV premium
Call IV0.27
Put IV0.05
Skew-0.21
18 Dec 2026Balanced skew
Call IV0.04
Put IV0.03
Skew-0.01
19 Mar 2027Balanced skew
Call IV0.03
Put IV0.03
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractBTAL260821C00011000
SideCall
Expiry21 Aug 2026
Strike11.00
Volume70
OI120
IV0.31
ContractBTAL260918C00013000
SideCall
Expiry18 Sep 2026
Strike13.00
Volume20
OI3
IV0.27
ContractBTAL260821P00016000
SidePut
Expiry21 Aug 2026
Strike16.00
Volume4
OI-
IV0.77
ContractBTAL261218C00011000
SideCall
Expiry18 Dec 2026
Strike11.00
Volume1
OI246
IV0.25
ContractBTAL260821C00012000
SideCall
Expiry21 Aug 2026
Strike12.00
Volume-
OI360
IV0.25
ContractBTAL260918P00009000
SidePut
Expiry18 Sep 2026
Strike9.00
Volume-
OI65
IV0.41
ContractBTAL260918C00012000
SideCall
Expiry18 Sep 2026
Strike12.00
Volume-
OI61
IV0.01
ContractBTAL260918C00015000
SideCall
Expiry18 Sep 2026
Strike15.00
Volume-
OI55
IV0.27

Research Graph

Related research and context

Ticker deep links

Related News

No recent ticker-specific news yet.

Market Watch

No recent market-watch posts yet.

Earnings

No upcoming matched earnings event.