Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
ANET options intelligence
Arista Networks options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 31 Jul 2026
Checked 1 Aug 2026 03:57 · complete available chain
Call-side pressure
Bullish pressure
ANET currently carries bullish options pressure with a 43/100 conviction score. The nearest-chain expected move is 3.3%, with volume/open-interest participation at 0.09.
Expected move
3.3%
Near-term move context
Activity / OI
0.09
Current volume is quieter versus prior open interest
Put-call
0.60
Call-side skew
Trend fit
69
Options agree with trend context
Weekly backdrop
+3.7%
RS 14.7
Expected move
3.3%
Put-call volume
0.60
Volume / OI
0.09
Reference IV
0.45
Max pain
170.00
Underlying
173.99
Nearest expiry
31 Jul 2026
Contracts
1338
Research Brief
ANET has a bullish chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 168.21–179.77; The largest call open-interest concentration is 180.00; the largest put concentration is 165.00. The most active strike by current volume is 180.00.
Priced range168.21–179.77
Call concentration180.00
Put concentration165.00
Max pain reference170.00
- Price holds or improves while call-side concentration remains elevated.
- The current chain read already agrees with the stored weekly trend context.
- Price weakens while call pressure fades or reverses toward puts.
Priced Move
Where the chain says movement becomes exceptional
Options imply 168.21 to 179.77. Max pain at 170.00 sits inside that range, 2.3% below spot.
Spot
Max pain
168.21173.99 ± 5.78179.77
Confirmation level
A close beyond 179.77 or below 168.21 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 43/100
Pressure is 27/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure27 × 42%
+11.4
How strongly activity leans toward calls or puts.
Participation42 × 22%
+9.3
Volume relative to existing open interest and contract-level activity.
Trend agreement69 × 26%
+17.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility45 × 10%
+4.5
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 180.00; the largest put concentration is 165.00. The most active strike by current volume is 180.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
920
140.00-19.5%
17
1077
145.00-16.7%
10
1332
150.00-13.8%
123
671
152.50-12.4%
40
1548
155.00-10.9%
54
609
157.50-9.5%
41
1326
160.00-8.0%
312
1139
162.50-6.6%
748
2298
165.00-5.2%
536
315
167.50-3.7%
458
2032
170.00-2.3%
1803
871
172.50-0.9%
262
615
175.000.6%
1478
110
180.003.5%
2343
61
182.504.9%
548
42
185.006.3%
649
0
200.0014.9%
1794
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.45
31 Jul
0d
1.01
7 Aug
7d
0.85
14 Aug
14d
0.77
21 Aug
21d
0.74
28 Aug
28d
0.73
4 Sep
35d
0.70
11 Sep
42d
0.68
18 Sep
49d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
140
142
143
145
147
148
150
155
158
163
165
170
175
178
183
188
190
195
200
203
208
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 1338 / 1338
- 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 pressure and weekly price action are pointing in the same constructive direction.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $24.9M of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+27
1W price+3.7%
Call premium77%
Put premium23%
Notional split
C 77% / P 23%
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
69/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 3 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 1215 contracts traded, $3.2M estimated gross traded notional, and 13% of visible notional.
$3.2M
Calls · 46-90 days · OTM
calls cluster with 2088 contracts traded, $2.9M estimated gross traded notional, and 12% of visible notional.
$2.9M
Calls · 91+ days · ITM
calls cluster with 417 contracts traded, $2.8M estimated gross traded notional, and 11% of visible notional.
$2.8M
Puts · 91+ days · ITM
puts cluster with 489 contracts traded, $2.2M estimated gross traded notional, and 9% of visible notional.
$2.2M
Calls · 0-7 days · ITM
calls cluster with 591 contracts traded, $2.0M estimated gross traded notional, and 8% of visible notional.
$2.0M
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
Call pressure is building while the stock sits above Sharemaestro fair value.
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
Close180.35
1W+3.7%
RS14.7
Fair value+76.6%
Options pressure27
Speculation42
Volatility45
Trend fit69
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 10:00
Volatility
Pressure 40
Move 6.3%
30 Jul 10:00
Volatility
Pressure 53
Move 9.9%
31 Jul 10:00
Bullish
Pressure 20
Move 3.6%
1 Aug 02:57
Bullish
Pressure 27
Move 3.3%
Strike Map
Where activity is clustering
Strike90.00
Calls · V 0 · OI 7
Puts · V 1 · OI 80
Strike95.00
Calls · V 0 · OI 1
Puts · V 8 · OI 69
Strike100.00
Calls · V 1 · OI 2
Puts · V 0 · OI 316
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 326
Strike110.00
Calls · V 0 · OI 12
Puts · V 0 · OI 29
Strike115.00
Calls · V 0 · OI 2
Puts · V 0 · OI 86
Strike120.00
Calls · V 0 · OI 11
Puts · V 0 · OI 126
Strike125.00
Calls · V 0 · OI 3
Puts · V 28 · OI 100
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts132
Avg IV0.45
Put-call0.45
Expiry7 Aug 2026
Contracts150
Avg IV1.01
Put-call0.67
Expiry14 Aug 2026
Contracts150
Avg IV0.85
Put-call0.62
Expiry21 Aug 2026
Contracts100
Avg IV0.77
Put-call1.04
Expiry28 Aug 2026
Contracts64
Avg IV0.74
Put-call0.68
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.11
Put IV0.36
Skew0.24
7 Aug 2026Balanced skew
Call IV0.99
Put IV1.03
Skew0.04
14 Aug 2026Balanced skew
Call IV0.83
Put IV0.85
Skew0.02
21 Aug 2026Balanced skew
Call IV0.75
Put IV0.79
Skew0.04
28 Aug 2026Balanced skew
Call IV0.73
Put IV0.73
Skew-
Contract Tape
Most active contracts
ContractANET260731C00180000
SideCall
Expiry31 Jul 2026
Strike180.00
Volume2382
OI2343
IV0.19
ContractANET260918C00180000
SideCall
Expiry18 Sep 2026
Strike180.00
Volume1075
OI2533
IV0.68
ContractANET260821C00190000
SideCall
Expiry21 Aug 2026
Strike190.00
Volume961
OI3297
IV0.76
ContractANET260821C00220000
SideCall
Expiry21 Aug 2026
Strike220.00
Volume957
OI1741
IV0.74
ContractANET260821P00155000
SidePut
Expiry21 Aug 2026
Strike155.00
Volume956
OI534
IV0.79
ContractANET260731C00185000
SideCall
Expiry31 Jul 2026
Strike185.00
Volume869
OI649
IV0.22
ContractANET260904C00205000
SideCall
Expiry4 Sep 2026
Strike205.00
Volume837
OI6
IV0.67
ContractANET260807P00145000
SidePut
Expiry7 Aug 2026
Strike145.00
Volume458
OI287
IV1.08
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
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.