Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
PLTU options intelligence
T-REX 2X LONG PLTR DAILY TARGET ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
69
Market data through 31 Jul 2026
Checked 3 Aug 2026 12:06 · complete available chain
Volatility expansion watch
Volatility pressure
PLTU currently carries volatility options pressure with a 69/100 conviction score. The nearest-chain expected move is 28.0%, with volume/open-interest participation at 0.13.
Expected move
28.0%
Wider near-term move priced
Activity / OI
0.13
Current volume is quieter versus prior open interest
Put-call
8.74
Put-side skew
Trend fit
74
Options agree with trend context
Weekly backdrop
-0.9%
RS -56.6
Expected move
28.0%
Put-call volume
8.74
Volume / OI
0.13
Reference IV
1.45
Max pain
30.00
Underlying
27.11
Nearest expiry
21 Aug 2026
Contracts
354
Research Brief
PLTU has a volatility chain read with 69/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.51–34.71; The largest call open-interest concentration is 40.00; the largest put concentration is 17.00. The most active strike by current volume is 25.00.
Priced range19.51–34.71
Call concentration40.00
Put concentration17.00
Max pain reference30.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- 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 19.51 to 34.71. Max pain at 30.00 sits inside that range, 10.7% above spot.
Spot
Max pain
19.5127.11 ± 7.6034.71
Confirmation level
A close beyond 34.71 or below 19.51 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 69/100
Pressure is 74/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure74 × 42%
+31.0
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.5
Volume relative to existing open interest and contract-level activity.
Trend agreement74 × 26%
+19.3
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 40.00; the largest put concentration is 17.00. The most active strike by current volume is 25.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
285
14.00-48.4%
1
295
17.00-37.3%
1
168
19.00-29.9%
0
167
20.00-26.2%
70
72
22.00-18.8%
2
96
23.00-15.2%
1
120
24.00-11.5%
3
155
25.00-7.8%
129
38
27.00-0.4%
52
45
30.0010.7%
74
124
32.0018.0%
30
30
33.0021.7%
46
23
35.0029.1%
123
7
36.0032.8%
366
2
39.0043.9%
135
14
40.0047.5%
507
97
43.0058.6%
413
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+$65,673Delta change / 1% move
Positive peak30.00+$17,639
Negative peak24.00-$3,734
Nearest balance24.60Interpolated sign change
StrikeNegativePositiveNet / 1% move
17.00-37.3%
-$780
18.00-33.6%
-$1,894
19.00-29.9%
-$3,206
20.00-26.2%
-$2,739
21.00-22.5%
-$1,153
22.00-18.8%
-$1,361
23.00-15.2%
-$2,531
24.00-11.5%
-$3,734
25.00-7.8%
+$2,446
26.00-4.1%
+$471
27.00-0.4%
+$1,036
28.003.3%
+$44
29.007.0%
+$297
30.0010.7%
+$17,639
31.0014.3%
+$444
32.0018.0%
-$2,182
33.0021.7%
+$536
34.0025.4%
+$12,862
35.0029.1%
+$4,477
36.0032.8%
+$9,287
37.0036.5%
+$2,660
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.
1.45
21 Aug
21d
1.22
18 Sep
49d
1.15
16 Oct
77d
1.11
15 Jan
168d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
22
23
24
25
26
27
28
29
30
31
32
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
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
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 354 / 354
- 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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $214,700 of estimated gross traded notional, puts · 46-90 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-74
1W price-0.9%
Call premium22%
Put premium78%
Notional split
C 22% / P 78%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.13
Volume divided by open interest across the visible chain.
Trend fit
74/100
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.
Puts · 46-90 days · OTM
puts cluster with 1169 contracts traded, $145,812 estimated gross traded notional, and 68% of visible notional.
$145,812
Puts · 8-21 days · OTM
puts cluster with 92 contracts traded, $15,995 estimated gross traded notional, and 7% of visible notional.
$15,995
Calls · 8-21 days · OTM
calls cluster with 64 contracts traded, $10,405 estimated gross traded notional, and 5% of visible notional.
$10,405
Calls · 46-90 days · ITM
calls cluster with 13 contracts traded, $9,860 estimated gross traded notional, and 5% of visible notional.
$9,860
Calls · 8-21 days · ITM
calls cluster with 20 contracts traded, $9,720 estimated gross traded notional, and 5% of visible notional.
$9,720
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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
Close27.11
1W-0.9%
RS-56.6
Fair value-44.4%
Options pressure-74
Speculation43
Volatility96
Trend fit74
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 12:54
Mixed
Pressure 12
Move 28.5%
30 Jul 12:47
Volatility
Pressure -32
Move 29.3%
31 Jul 12:15
Volatility
Pressure -63
Move 26.9%
3 Aug 11:06
Volatility
Pressure -74
Move 28.0%
Strike Map
Where activity is clustering
Strike14.00
Calls · V 0 · OI 1
Puts · V 0 · OI 285
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 26
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 7
Strike17.00
Calls · V 0 · OI 1
Puts · V 0 · OI 295
Strike18.00
Calls · V 0 · OI 0
Puts · V 0 · OI 24
Strike19.00
Calls · V 0 · OI 0
Puts · V 25 · OI 168
Strike20.00
Calls · V 0 · OI 70
Puts · V 11 · OI 167
Strike21.00
Calls · V 0 · OI 4
Puts · V 5 · OI 47
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts60
Avg IV1.45
Put-call1.03
Expiry18 Sep 2026
Contracts68
Avg IV1.22
Put-call6.86
Expiry16 Oct 2026
Contracts114
Avg IV1.15
Put-call44.57
Expiry15 Jan 2027
Contracts112
Avg IV1.11
Put-call0.17
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV1.45
Put IV1.54
Skew0.09
18 Sep 2026Put IV premium
Call IV1.16
Put IV1.29
Skew0.14
16 Oct 2026Put IV premium
Call IV1.10
Put IV1.24
Skew0.15
15 Jan 2027Put IV premium
Call IV1.12
Put IV1.21
Skew0.10
Contract Tape
Most active contracts
ContractPLTU261016P00018000
SidePut
Expiry16 Oct 2026
Strike18.00
Volume602
OI152
IV1.20
ContractPLTU261016P00017000
SidePut
Expiry16 Oct 2026
Strike17.00
Volume278
OI6
IV1.06
ContractPLTU261016P00016000
SidePut
Expiry16 Oct 2026
Strike16.00
Volume142
OI2
IV1.20
ContractPLTU260918P00018000
SidePut
Expiry18 Sep 2026
Strike18.00
Volume75
OI22
IV1.11
ContractPLTU260918P00019000
SidePut
Expiry18 Sep 2026
Strike19.00
Volume68
OI39
IV1.22
ContractPLTU260821P00025000
SidePut
Expiry21 Aug 2026
Strike25.00
Volume41
OI155
IV1.49
ContractPLTU260821P00019000
SidePut
Expiry21 Aug 2026
Strike19.00
Volume25
OI168
IV1.52
ContractPLTU260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume16
OI129
IV1.57
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.