Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
NTGR options intelligence
NETGEAR Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
60
Market data through 31 Jul 2026
Checked 1 Aug 2026 08:15 · complete available chain
Volatility expansion watch
Volatility pressure
NTGR currently carries volatility options pressure with a 60/100 conviction score. The nearest-chain expected move is 14.5%, with volume/open-interest participation at 0.02.
Expected move
14.5%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.03
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-3.1%
RS -13.0
Expected move
14.5%
Put-call volume
0.03
Volume / OI
0.02
Reference IV
0.68
Max pain
24.00
Underlying
24.93
Nearest expiry
21 Aug 2026
Contracts
172
Research Brief
NTGR has a volatility chain read with 60/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 21.30–28.56; The largest call open-interest concentration is 24.00; the largest put concentration is 20.00. The most active strike by current volume is 25.00.
Priced range21.30–28.56
Call concentration24.00
Put concentration20.00
Max pain reference24.00
- 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 21.30 to 28.56. Max pain at 24.00 sits inside that range, 3.7% below spot.
Spot
Max pain
21.3024.93 ± 3.6328.56
Confirmation level
A close beyond 28.56 or below 21.30 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 60/100
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.
Participation40 × 22%
+8.9
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.
Volatility88 × 10%
+8.8
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 24.00; the largest put concentration is 20.00. 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
0
15.00-39.8%
0
0
16.00-35.8%
0
0
17.00-31.8%
0
4
18.00-27.8%
0
1
19.00-23.8%
0
1021
20.00-19.8%
0
2
21.00-15.8%
0
79
22.00-11.8%
0
0
23.00-7.7%
3
100
24.00-3.7%
63
1
25.000.3%
29
6
26.004.3%
19
0
27.008.3%
9
0
28.0012.3%
18
0
29.0016.3%
3
0
30.0020.3%
2
0
32.0028.4%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.68
21 Aug
21d
0.67
18 Sep
49d
0.63
18 Dec
140d
0.63
19 Mar
231d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
20
21
22
23
24
25
26
27
28
29
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
- 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
- 172 / 172
- 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 are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $43148 of estimated gross traded notional, calls · 46-90 days · atm, 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+100
1W price-3.1%
Call premium97%
Put premium3%
Notional split
C 97% / P 3%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Event window
6 Aug
Matched earnings event is 5 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 · 46-90 days · ATM
calls cluster with 200 contracts traded, $40500 estimated gross traded notional, and 94% of visible notional.
$40500
Puts · 8-21 days · ATM
puts cluster with 5 contracts traded, $1188 estimated gross traded notional, and 3% of visible notional.
$1188
Calls · 8-21 days · OTM
calls cluster with 5 contracts traded, $400 estimated gross traded notional, and 1% of visible notional.
$400
Calls · 8-21 days · ATM
calls cluster with 3 contracts traded, $375 estimated gross traded notional, and 1% of visible notional.
$375
Calls · 91+ days · OTM
calls cluster with 3 contracts traded, $352 estimated gross traded notional, and 1% of visible notional.
$352
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
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
Close24.16
1W-3.1%
RS-13.0
Fair value+14.0%
Options pressure100
Speculation40
Volatility88
Trend fit0
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 11:20
Bullish
Pressure 48
Move 14.0%
30 Jul 11:04
Volatility
Pressure 100
Move 19.6%
30 Jul 15:06
Volatility
Pressure 100
Move 19.1%
30 Jul 15:35
Volatility
Pressure 100
Move 19.1%
30 Jul 19:52
Volatility
Pressure 100
Move 19.1%
31 Jul 11:07
Volatility
Pressure -65
Move 19.1%
31 Jul 21:52
Volatility
Pressure 100
Move 14.5%
1 Aug 07:15
Volatility
Pressure 100
Move 14.5%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike16.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike17.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike18.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike19.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike20.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1021
Strike21.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike22.00
Calls · V 0 · OI 0
Puts · V 0 · OI 79
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts40
Avg IV0.68
Put-call0.63
Expiry18 Sep 2026
Contracts50
Avg IV0.67
Put-call0.00
Expiry18 Dec 2026
Contracts44
Avg IV0.63
Put-call-
Expiry19 Mar 2027
Contracts38
Avg IV0.63
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.69
Put IV1.06
Skew0.37
18 Sep 2026Call IV premium
Call IV0.72
Put IV0.61
Skew-0.11
18 Dec 2026Put IV premium
Call IV0.62
Put IV0.74
Skew0.12
19 Mar 2027Put IV premium
Call IV0.59
Put IV0.66
Skew0.07
Contract Tape
Most active contracts
ContractNTGR260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume200
OI229
IV0.66
ContractNTGR260821C00026000
SideCall
Expiry21 Aug 2026
Strike26.00
Volume5
OI19
IV0.15
ContractNTGR260821P00025000
SidePut
Expiry21 Aug 2026
Strike25.00
Volume5
OI1
IV0.83
ContractNTGR260918C00032000
SideCall
Expiry18 Sep 2026
Strike32.00
Volume3
OI1254
IV0.65
ContractNTGR260821C00025000
SideCall
Expiry21 Aug 2026
Strike25.00
Volume3
OI29
IV0.69
ContractNTGR261218C00034000
SideCall
Expiry18 Dec 2026
Strike34.00
Volume3
OI4
IV0.62
ContractNTGR260918P00024000
SidePut
Expiry18 Sep 2026
Strike24.00
Volume1
OI7
IV0.64
ContractNTGR261218C00030000
SideCall
Expiry18 Dec 2026
Strike30.00
Volume-
OI5010
IV0.59
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
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.