Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
IOND options intelligence
Ionic Digital Inc. Class A Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
53
Market data through 21 Aug 2026
Checked 24 Aug 2026 11:20 · complete available chain
Volatility expansion watch
Volatility pressure
IOND currently carries volatility options pressure with a 53/100 conviction score. The nearest-chain expected move is 16.1%, with volume/open-interest participation at 0.04.
Expected move
16.1%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
0.12
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+5.5%
Sharemaestro weekly context
Expected move
16.1%
Put-call volume
0.12
Volume / OI
0.04
Reference IV
0.71
Max pain
60.00
Underlying
68.73
Nearest expiry
18 Sep 2026
Contracts
108
Research Brief
IOND has a volatility chain read with 53/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 57.68–79.78; The largest call open-interest concentration is 80.00; the largest put concentration is 60.00. The most active strike by current volume is 75.00.
Priced range57.68–79.78
Call concentration80.00
Put concentration60.00
Max pain reference60.00
- 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 57.68 to 79.78. Max pain at 60.00 sits inside that range, 12.7% below spot.
Spot
Max pain
57.6868.73 ± 11.0579.78
Confirmation level
A close beyond 79.78 or below 57.68 at the 18 Sep 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 53/100
Pressure is 91/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure91 × 42%
+38.1
How strongly activity leans toward calls or puts.
Participation25 × 22%
+5.5
Volume relative to existing open interest and contract-level activity.
Trend agreement1 × 26%
+0.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility90 × 10%
+9.0
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 80.00; the largest put concentration is 60.00. The most active strike by current volume is 75.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
30.00-56.4%
0
0
35.00-49.1%
0
0
40.00-41.8%
0
0
45.00-34.5%
0
3
50.00-27.3%
0
5
55.00-20.0%
0
10
60.00-12.7%
3
1
65.00-5.4%
13
1
70.001.8%
131
0
75.009.1%
123
0
80.0016.4%
148
0
85.0023.7%
1
0
90.0030.9%
50
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+$246,355Delta change / 1% move
Positive peak90.00+$131,185
Negative peak60.00-$1,014
Nearest balance62.20Interpolated sign change
StrikeNegativePositiveNet / 1% move
30.00-56.4%
+$5
50.00-27.3%
+$54,316
55.00-20.0%
+$9
60.00-12.7%
-$1,014
65.00-5.4%
+$1,292
70.001.8%
+$21,452
75.009.1%
+$20,580
80.0016.4%
+$18,214
85.0023.7%
+$309
90.0030.9%
+$131,185
95.0038.2%
+$7
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.
0.71
18 Sep
28d
0.75
16 Oct
56d
0.74
15 Jan
147d
0.75
16 Apr
238d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
55
60
65
70
75
80
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 18 Sep 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
- 21 Aug 2026
- Calculation
- v2.0
- Contracts
- 108 / 108
- 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: $64,188 of estimated gross traded notional, calls · 22-45 days · itm, 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+91
1W price+5.5%
Call premium92%
Put premium8%
Notional split
C 92% / P 8%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.04
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.
Calls · 22-45 days · ITM
calls cluster with 25 contracts traded, $19,000 estimated gross traded notional, and 30% of visible notional.
$19,000
Calls · 22-45 days · OTM
calls cluster with 96 contracts traded, $18,005 estimated gross traded notional, and 28% of visible notional.
$18,005
Calls · 91+ days · OTM
calls cluster with 8 contracts traded, $6,910 estimated gross traded notional, and 11% of visible notional.
$6,910
Calls · 22-45 days · ATM
calls cluster with 12 contracts traded, $6,000 estimated gross traded notional, and 9% of visible notional.
$6,000
Puts · 22-45 days · OTM
puts cluster with 15 contracts traded, $2,888 estimated gross traded notional, and 4% of visible notional.
$2,888
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.
Options positioning is not confirming the underlying trend context.
Activity Anomaly
Warming up
0 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 0 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close68.73
1W+5.5%
RS-
Fair value+3.0%
Options pressure91
Speculation25
Volatility90
Trend fit1
Today Versus Normal
Stored-options context
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
30d avg - · 0/10 sessions
-
90d avg - · 0/30 sessions
-
180d avg - · 0/60 sessions
-
Pressure Trail
Recent pressure and volatility
24 Aug 10:20
Volatility
Pressure 91
Move 16.1%
Strike Map
Where activity is clustering
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 3
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike60.00
Calls · V 0 · OI 3
Puts · V 15 · OI 10
Strike65.00
Calls · V 25 · OI 13
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts26
Avg IV0.71
Put-call0.11
Expiry16 Oct 2026
Contracts28
Avg IV0.75
Put-call0.10
Expiry15 Jan 2027
Contracts28
Avg IV0.74
Put-call0.33
Expiry16 Apr 2027
Contracts26
Avg IV0.75
Put-call-
Skew
Call/put IV balance
18 Sep 2026Put IV premium
Call IV0.65
Put IV0.74
Skew0.09
16 Oct 2026Put IV premium
Call IV0.68
Put IV0.83
Skew0.16
15 Jan 2027Put IV premium
Call IV0.65
Put IV0.79
Skew0.14
16 Apr 2027Put IV premium
Call IV0.66
Put IV0.81
Skew0.15
Contract Tape
Most active contracts
ContractIOND260918C00075000
SideCall
Expiry18 Sep 2026
Strike75.00
Volume65
OI123
IV0.56
ContractIOND260918C00080000
SideCall
Expiry18 Sep 2026
Strike80.00
Volume29
OI148
IV0.65
ContractIOND260918C00065000
SideCall
Expiry18 Sep 2026
Strike65.00
Volume25
OI13
IV0.74
ContractIOND260918P00060000
SidePut
Expiry18 Sep 2026
Strike60.00
Volume15
OI10
IV0.74
ContractIOND260918C00070000
SideCall
Expiry18 Sep 2026
Strike70.00
Volume12
OI131
IV0.73
ContractIOND261016C00075000
SideCall
Expiry16 Oct 2026
Strike75.00
Volume3
OI10
IV0.70
ContractIOND261016C00070000
SideCall
Expiry16 Oct 2026
Strike70.00
Volume3
OI10
IV0.72
ContractIOND270115C00075000
SideCall
Expiry15 Jan 2027
Strike75.00
Volume3
OI2
IV0.69
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.