Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
RDDT options intelligence
Reddit, Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
38
Market data through 31 Jul 2026
Checked 3 Aug 2026 12:05 · complete available chain
Options-market disagreement
Mixed pressure
RDDT currently carries mixed options pressure with a 38/100 conviction score. The nearest-chain expected move is 7.9%, with volume/open-interest participation at 0.38.
Expected move
7.9%
Wider near-term move priced
Activity / OI
0.38
Current volume is quieter versus prior open interest
Put-call
0.75
Call-side skew
Trend fit
46
Options are not fully confirming trend
Weekly backdrop
-16.6%
RS -31.8
Expected move
7.9%
Put-call volume
0.75
Volume / OI
0.38
Reference IV
0.70
Max pain
180.00
Underlying
140.67
Nearest expiry
7 Aug 2026
Contracts
1632
Research Brief
RDDT has a mixed chain read with 38/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 129.62–151.72; The largest call open-interest concentration is 205.00; the largest put concentration is 130.00. The most active strike by current volume is 150.00.
Priced range129.62–151.72
Call concentration205.00
Put concentration130.00
Max pain reference180.00
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 129.62 to 151.72. Max pain at 180.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
129.62140.67 ± 11.05151.72
Confirmation level
A close beyond 151.72 or below 129.62 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 38/100
Pressure is 17/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure17 × 42%
+7.0
How strongly activity leans toward calls or puts.
Participation49 × 22%
+10.7
Volume relative to existing open interest and contract-level activity.
Trend agreement46 × 26%
+12.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility80 × 10%
+8.0
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 205.00; the largest put concentration is 130.00. The most active strike by current volume is 150.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
189
120.00-14.7%
2
387
125.00-11.1%
0
8
127.00-9.7%
0
1557
130.00-7.6%
1
499
135.00-4.0%
1
412
140.00-0.5%
2
150
145.003.1%
2
75
148.005.2%
1
184
150.006.6%
23
202
160.0013.7%
25
112
165.0017.3%
133
203
170.0020.9%
115
153
180.0028.0%
295
45
182.5029.7%
760
44
185.0031.5%
829
50
200.0042.2%
960
188
205.0045.7%
1265
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile-$2.5MDelta change / 1% move
Positive peak220.00+$3.0M
Negative peak115.00-$3.0M
Nearest balance134.01Interpolated sign change
StrikeNegativePositiveNet / 1% move
130.00-7.6%
-$1.8M
131.00-6.9%
-$3,349
132.00-6.2%
-$7,614
133.00-5.5%
-$10,995
134.00-4.7%
+$12,836
135.00-4.0%
-$955,029
136.00-3.3%
-$11,236
137.00-2.6%
-$3,109
138.00-1.9%
-$15,747
139.00-1.2%
-$166,027
140.00-0.5%
-$1.7M
141.000.2%
-$158,378
142.000.9%
-$17,452
143.001.7%
-$7,936
144.002.4%
-$7,887
145.003.1%
-$524,489
146.003.8%
-$34,399
147.004.5%
-$17,062
148.005.2%
-$43,602
149.005.9%
-$330,448
150.006.6%
-$953,212
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
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.70
7 Aug
7d
0.67
14 Aug
14d
0.69
21 Aug
21d
0.69
28 Aug
28d
0.70
4 Sep
35d
0.67
11 Sep
42d
0.68
18 Sep
49d
0.68
16 Oct
77d
Volatility by Strike
Upside optionality premium
Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.
115
123
125
126
128
130
132
134
135
137
139
141
143
144
146
148
150
155
158
163
168
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 1 stored directional transitions, the next stored price moved in the labelled direction 0% of the time.
Directional follow-through0%
Moves contained by pricing0%
Average expiry move16.6%
30 Jul
Bullish · 37
-16.6% through expiry
13.5% 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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1632 / 1632
- 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
Likely noise
There is useful activity, but aggregate chain data does not isolate participant intent.
The options read is mixed, so divergence is not strong enough to classify.
Likely noise matters because it connects the options headline to the actual evidence: $123.6M of estimated gross traded notional, calls · 91+ days · otm, 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+17
1W price-16.6%
Call premium62%
Put premium38%
Notional split
C 62% / P 38%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.38
Volume divided by open interest across the visible chain.
Trend fit
46/100
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 15084 contracts traded, $28.7M estimated gross traded notional, and 23% of visible notional.
$28.7M
Calls · 91+ days · ITM
calls cluster with 2009 contracts traded, $10.0M estimated gross traded notional, and 8% of visible notional.
$10.0M
Puts · 91+ days · OTM
puts cluster with 10312 contracts traded, $9.0M estimated gross traded notional, and 7% of visible notional.
$9.0M
Calls · 46-90 days · OTM
calls cluster with 13604 contracts traded, $8.1M estimated gross traded notional, and 7% of visible notional.
$8.1M
Puts · 46-90 days · ITM
puts cluster with 2661 contracts traded, $7.2M estimated gross traded notional, and 6% of visible notional.
$7.2M
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
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
Close140.67
1W-16.6%
RS-31.8
Fair value-0.0%
Options pressure17
Speculation49
Volatility80
Trend fit46
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:12
Bullish
Pressure 43
Move 13.8%
30 Jul 10:10
Mixed
Pressure -17
Move 13.4%
31 Jul 10:04
Bullish
Pressure 19
Move 13.5%
31 Jul 16:14
Mixed
Pressure 12
Move 17.9%
2 Aug 18:25
Mixed
Pressure 16
Move 7.9%
3 Aug 11:05
Mixed
Pressure 17
Move 7.9%
Strike Map
Where activity is clustering
Strike90.00
Calls · V 0 · OI 8
Puts · V 0 · OI 31
Strike95.00
Calls · V 0 · OI 3
Puts · V 10 · OI 18
Strike100.00
Calls · V 0 · OI 2
Puts · V 574 · OI 279
Strike105.00
Calls · V 0 · OI 1
Puts · V 23 · OI 24
Strike110.00
Calls · V 4 · OI 2
Puts · V 576 · OI 23
Strike115.00
Calls · V 0 · OI 1
Puts · V 638 · OI 23
Strike120.00
Calls · V 9 · OI 2
Puts · V 1242 · OI 189
Strike123.00
Calls · V 1 · OI 0
Puts · V 638 · OI 3
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts162
Avg IV0.70
Put-call0.55
Expiry14 Aug 2026
Contracts154
Avg IV0.67
Put-call0.93
Expiry21 Aug 2026
Contracts112
Avg IV0.69
Put-call0.68
Expiry28 Aug 2026
Contracts74
Avg IV0.69
Put-call0.86
Expiry4 Sep 2026
Contracts68
Avg IV0.70
Put-call6.72
Skew
Call/put IV balance
7 Aug 2026Balanced skew
Call IV0.73
Put IV0.68
Skew-0.05
14 Aug 2026Balanced skew
Call IV0.72
Put IV0.68
Skew-0.04
21 Aug 2026Balanced skew
Call IV0.71
Put IV0.68
Skew-0.03
28 Aug 2026Balanced skew
Call IV0.70
Put IV0.69
Skew-0.01
4 Sep 2026Balanced skew
Call IV0.71
Put IV0.68
Skew-0.03
Contract Tape
Most active contracts
ContractRDDT260807C00150000
SideCall
Expiry7 Aug 2026
Strike150.00
Volume9086
OI23
IV0.74
ContractRDDT260904P00100000
SidePut
Expiry4 Sep 2026
Strike100.00
Volume7439
OI1
IV0.71
ContractRDDT260807C00140000
SideCall
Expiry7 Aug 2026
Strike140.00
Volume4384
OI2
IV0.69
ContractRDDT260807P00130000
SidePut
Expiry7 Aug 2026
Strike130.00
Volume2872
OI1557
IV0.67
ContractRDDT260807P00135000
SidePut
Expiry7 Aug 2026
Strike135.00
Volume2522
OI499
IV0.69
ContractRDDT260918C00190000
SideCall
Expiry18 Sep 2026
Strike190.00
Volume2186
OI428
IV0.74
ContractRDDT260807C00185000
SideCall
Expiry7 Aug 2026
Strike185.00
Volume1994
OI829
IV1.01
ContractRDDT260821C00150000
SideCall
Expiry21 Aug 2026
Strike150.00
Volume1982
OI840
IV0.68
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
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.