Ticker Options Intelligence

ZS options intelligence

Zscaler Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 43 Market data through 29 Jul 2026 Checked 30 Jul 2026 06:21 · complete available chain

Call-side pressure

Bullish pressure

ZS currently carries bullish options pressure with a 43/100 conviction score. The nearest-chain expected move is 9.0%, with volume/open-interest participation at 0.04.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 9.0%

Wider near-term move priced

Activity / OI 0.04

Current volume is quieter versus prior open interest

Put-call 0.27

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop -5.1%

RS -38.8

Expected move 9.0%
Put-call volume 0.27
Volume / OI 0.04
Reference IV 0.85
Max pain 145.00
Underlying 142.32
Nearest expiry 31 Jul 2026
Contracts 1576

Options Intent Radar

Short-dated OTM call concentration

94/100
Primary intent Short-dated OTM call concentration

Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.

Flow vs price divergence Bullish flow against weak price

Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.

Why this matters

Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $7.7M of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+60
1W price-5.1%
Call premium80%
Put premium20%
Notional split C 80% / P 20% 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.
Conviction clusters Calls · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 991 contracts traded, $1.5M estimated gross traded notional, and 19% of visible notional.
$1.5M
Calls · 91+ days · ITM calls cluster with 235 contracts traded, $1.2M estimated gross traded notional, and 15% of visible notional.
$1.2M
Calls · 91+ days · ATM calls cluster with 183 contracts traded, $992658 estimated gross traded notional, and 13% of visible notional.
$992658
Calls · 0-7 days · OTM calls cluster with 3081 contracts traded, $749596 estimated gross traded notional, and 10% of visible notional.
$749596
Puts · 46-90 days · ITM puts cluster with 214 contracts traded, $731852 estimated gross traded notional, and 10% of visible notional.
$731852

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Activity Anomaly

Normal range

33

Activity is broadly in line with recent stored snapshots.

Volume rank0th
Volume/OI rank0th
IV rank100th

Market Context

Underlying confirmation

Sharemaestro weekly
Close142.32
1W-5.1%
RS-38.8
Fair value-30.2%
Options pressure60
Speculation41
Volatility92
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 9.0% elevated
30d avg 7.7% · 1 read 100th
90d avg 7.7% · 1 read 100th
180d avg 7.7% · 1 read 100th
IV 0.85 elevated
30d avg 0.69 · 1 read 100th
90d avg 0.69 · 1 read 100th
180d avg 0.69 · 1 read 100th
Put-call 0.27 muted
30d avg 0.65 · 1 read 0th
90d avg 0.65 · 1 read 0th
180d avg 0.65 · 1 read 0th
Volume/OI 0.04 muted
30d avg 0.07 · 1 read 0th
90d avg 0.07 · 1 read 0th
180d avg 0.07 · 1 read 0th

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:17 Bullish
Pressure 24
Move 7.7%
30 Jul 05:21 Bullish
Pressure 60
Move 9.0%

Strike Map

Where activity is clustering

Full strike map
Strike70.00
Calls · V 0 · OI 39
Puts · V 0 · OI 2
Strike75.00
Calls · V 0 · OI 4
Puts · V 0 · OI 4
Strike80.00
Calls · V 0 · OI 56
Puts · V 0 · OI 166
Strike85.00
Calls · V 0 · OI 113
Puts · V 0 · OI 104
Strike90.00
Calls · V 0 · OI 0
Puts · V 1 · OI 44
Strike95.00
Calls · V 0 · OI 62
Puts · V 0 · OI 68
Strike100.00
Calls · V 0 · OI 1
Puts · V 1 · OI 10
Strike105.00
Calls · V 0 · OI 0
Puts · V 0 · OI 217

Term Structure

Expiration activity

Volume and IV
Expiry31 Jul 2026
Contracts140
Avg IV0.85
Put-call0.24
Expiry7 Aug 2026
Contracts132
Avg IV0.64
Put-call0.10
Expiry14 Aug 2026
Contracts100
Avg IV0.60
Put-call0.56
Expiry21 Aug 2026
Contracts134
Avg IV0.61
Put-call0.26
Expiry28 Aug 2026
Contracts94
Avg IV0.60
Put-call0.94

Skew

Call/put IV balance

OTM demand
31 Jul 2026Put IV premium
Call IV0.79
Put IV1.64
Skew0.86
7 Aug 2026Balanced skew
Call IV0.64
Put IV0.68
Skew0.04
14 Aug 2026Balanced skew
Call IV0.59
Put IV0.57
Skew-0.02
21 Aug 2026Balanced skew
Call IV0.62
Put IV0.63
Skew0.01
28 Aug 2026Balanced skew
Call IV0.59
Put IV0.60
Skew0.01

Contract Tape

Most active contracts

Full contract tape
ContractZS260807C00170000
SideCall
Expiry7 Aug 2026
Strike170.00
Volume799
OI160
IV0.64
ContractZS261120C00190000
SideCall
Expiry20 Nov 2026
Strike190.00
Volume565
OI105
IV0.67
ContractZS260731C00155000
SideCall
Expiry31 Jul 2026
Strike155.00
Volume542
OI1059
IV0.83
ContractZS260731C00147000
SideCall
Expiry31 Jul 2026
Strike147.00
Volume428
OI508
IV0.82
ContractZS260731C00160000
SideCall
Expiry31 Jul 2026
Strike160.00
Volume387
OI1084
IV0.79
ContractZS260821C00200000
SideCall
Expiry21 Aug 2026
Strike200.00
Volume345
OI5004
IV0.63
ContractZS260731C00170000
SideCall
Expiry31 Jul 2026
Strike170.00
Volume291
OI632
IV0.84
ContractZS260731C00180000
SideCall
Expiry31 Jul 2026
Strike180.00
Volume243
OI616
IV1.24