Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
DXYZ options intelligence
Destiny Tech100 Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
46
Market data through 12 Aug 2026
Checked 13 Aug 2026 05:12 · complete available chain
Volatility expansion watch
Volatility pressure
DXYZ currently carries volatility options pressure with a 46/100 conviction score. The nearest-chain expected move is 22.9%, with volume/open-interest participation at 0.28.
Expected move
22.9%
Wider near-term move priced
Activity / OI
0.28
Current volume is quieter versus prior open interest
Put-call
0.33
Call-side skew
Trend fit
10
Options are not fully confirming trend
Weekly backdrop
+13.1%
RS -22.8
Expected move
22.9%
Put-call volume
0.33
Volume / OI
0.28
Reference IV
0.70
Max pain
25.00
Underlying
25.89
Nearest expiry
21 Aug 2026
Contracts
96
Research Brief
DXYZ has a volatility chain read with 46/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 19.97–31.81; The largest call open-interest concentration is 30.00; the largest put concentration is 20.00. The most active strike by current volume is 30.00.
Priced range19.97–31.81
Call concentration30.00
Put concentration20.00
Max pain reference25.00
- A clear directional pressure reading develops and price begins to agree.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- 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 19.97 to 31.81. Max pain at 25.00 sits inside that range, 3.4% below spot.
Spot
Max pain
19.9725.89 ± 5.9231.81
Confirmation level
A close beyond 31.81 or below 19.97 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 46/100
Pressure is 57/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure57 × 42%
+24.1
How strongly activity leans toward calls or puts.
Participation47 × 22%
+10.2
Volume relative to existing open interest and contract-level activity.
Trend agreement10 × 26%
+2.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility89 × 10%
+8.9
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 30.00; the largest put concentration is 20.00. The most active strike by current volume is 30.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
107
15.00-42.1%
4
26
17.50-32.4%
39
8487
20.00-22.8%
147
7271
22.50-13.1%
426
3461
25.00-3.4%
1163
122
30.0015.9%
5286
16
35.0035.2%
641
10
40.0054.5%
825
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+$905,495Delta change / 1% move
Positive peak30.00+$391,421
Negative peak22.50-$13,064
Nearest balance22.76Interpolated sign change
StrikeNegativePositiveNet / 1% move
12.50-51.7%
-$15
15.00-42.1%
-$3,091
17.50-32.4%
-$481
20.00-22.8%
+$2,399
22.50-13.1%
-$13,064
25.00-3.4%
+$113,734
30.0015.9%
+$391,421
35.0035.2%
+$117,508
40.0054.5%
+$86,801
45.0073.8%
+$56,216
50.0093.1%
+$69,615
55.00112.4%
+$65,832
60.00131.7%
+$1,576
65.00151.1%
+$4,920
70.00170.4%
+$2,745
75.00189.7%
+$9,377
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
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.70
21 Aug
9d
0.88
18 Sep
37d
0.93
18 Dec
128d
0.90
19 Mar
219d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
23
25
30
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 96 / 96
- 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: $6.2M of estimated gross traded notional, calls · 22-45 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+57
1W price+13.1%
Call premium91%
Put premium9%
Notional split
C 91% / P 9%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.28
Volume divided by open interest across the visible chain.
Trend fit
10/100
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 · OTM
calls cluster with 12197 contracts traded, $2.4M estimated gross traded notional, and 38% of visible notional.
$2.4M
Calls · 22-45 days · ITM
calls cluster with 1688 contracts traded, $1.2M estimated gross traded notional, and 19% of visible notional.
$1.2M
Calls · 91+ days · OTM
calls cluster with 1768 contracts traded, $747,092 estimated gross traded notional, and 12% of visible notional.
$747,092
Calls · 91+ days · ITM
calls cluster with 429 contracts traded, $531,815 estimated gross traded notional, and 9% of visible notional.
$531,815
Calls · 8-21 days · ITM
calls cluster with 730 contracts traded, $488,560 estimated gross traded notional, and 8% of visible notional.
$488,560
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
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Baseline: 10 completed sessions
Volume rank100th
Volume/OI rank100th
IV rank90th
Market Context
Underlying confirmation
Close25.89
1W+13.1%
RS-22.8
Fair value-15.3%
Options pressure57
Speculation47
Volatility89
Trend fit10
Today Versus Normal
Stored-options context
30d avg 13.5% · 10 sessions
100th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.62 · 10 sessions
90th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.55 · 10 sessions
70th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.09 · 10 sessions
100th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:05
Volatility
Pressure 75
Move 12.7%
30 Jul 10:53
Volatility
Pressure -47
Move 11.9%
31 Jul 12:15
Bullish
Pressure 44
Move 13.3%
1 Aug 01:05
Bullish
Pressure 64
Move 12.2%
2 Aug 08:34
Bullish
Pressure 64
Move 12.5%
4 Aug 10:22
Volatility
Pressure 100
Move 13.1%
5 Aug 10:53
Volatility
Pressure 98
Move 13.8%
6 Aug 11:02
Bullish
Pressure 20
Move 12.2%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 0 · OI 4
Puts · V 0 · OI 107
Strike17.50
Calls · V 0 · OI 39
Puts · V 0 · OI 26
Strike20.00
Calls · V 20 · OI 147
Puts · V 3 · OI 8487
Strike22.50
Calls · V 236 · OI 426
Puts · V 59 · OI 7271
Strike25.00
Calls · V 474 · OI 1163
Puts · V 180 · OI 3461
Strike30.00
Calls · V 1611 · OI 5286
Puts · V 94 · OI 122
Strike35.00
Calls · V 383 · OI 641
Puts · V 13 · OI 16
Strike40.00
Calls · V 266 · OI 825
Puts · V 8 · OI 10
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts16
Avg IV0.70
Put-call0.12
Expiry18 Sep 2026
Contracts32
Avg IV0.88
Put-call0.34
Expiry18 Dec 2026
Contracts32
Avg IV0.93
Put-call0.32
Expiry19 Mar 2027
Contracts16
Avg IV0.90
Put-call2.05
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.92
Put IV0.88
Skew-0.04
18 Sep 2026Call IV premium
Call IV0.99
Put IV0.89
Skew-0.10
18 Dec 2026Balanced skew
Call IV0.96
Put IV0.94
Skew-0.02
19 Mar 2027Balanced skew
Call IV0.92
Put IV0.92
Skew-
Contract Tape
Most active contracts
ContractDXYZ260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume5185
OI3356
IV0.99
ContractDXYZ260918C00030000
SideCall
Expiry18 Sep 2026
Strike30.00
Volume3709
OI1732
IV0.91
ContractDXYZ260918P00022500
SidePut
Expiry18 Sep 2026
Strike22.50
Volume3538
OI142
IV0.86
ContractDXYZ260918C00035000
SideCall
Expiry18 Sep 2026
Strike35.00
Volume2474
OI2332
IV0.96
ContractDXYZ260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume1642
OI4701
IV0.89
ContractDXYZ260821C00030000
SideCall
Expiry21 Aug 2026
Strike30.00
Volume1611
OI5286
IV0.88
ContractDXYZ260918P00025000
SidePut
Expiry18 Sep 2026
Strike25.00
Volume606
OI501
IV0.89
ContractDXYZ261218C00035000
SideCall
Expiry18 Dec 2026
Strike35.00
Volume593
OI3886
IV0.95
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.