Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
AAPY options intelligence
Kurv Yield Premium Strategy Apple (AAPL) ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
28
Market data through 14 Sep 2026
Checked 15 Sep 2026 13:20 · complete available chain
Options-market disagreement
Mixed pressure
AAPY currently carries mixed options pressure with a 28/100 conviction score. The nearest-chain expected move is 2.4%, with volume/open-interest participation at 0.00.
Expected move
2.4%
Near-term move context
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
-
Balanced tape
Trend fit
87
Options agree with trend context
Weekly backdrop
+4.3%
RS 7.8
Expected move
2.4%
Put-call volume
-
Volume / OI
-
Reference IV
0.23
Max pain
25.00
Underlying
27.82
Nearest expiry
18 Sep 2026
Contracts
98
Research Brief
AAPY has a mixed chain read with 28/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 27.14–28.49; The largest call open-interest concentration is 25.00; the largest put concentration is 25.00. The most active strike by current volume is 22.00.
Priced range27.14–28.49
Call concentration25.00
Put concentration25.00
Max pain reference25.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 27.14 to 28.49. Max pain at 25.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
27.1427.82 ± 0.6828.49
Confirmation level
A close beyond 28.49 or below 27.14 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 28/100
Pressure is 7/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure7 × 42%
+3.1
How strongly activity leans toward calls or puts.
Participation0 × 22%
+0.0
Volume relative to existing open interest and contract-level activity.
Trend agreement87 × 26%
+22.5
How closely the chain read agrees with the underlying trend backdrop.
Volatility26 × 10%
+2.6
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 25.00; the largest put concentration is 25.00. The most active strike by current volume is 22.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
22.00-20.9%
0
0
23.00-17.3%
0
0
24.00-13.7%
0
5
25.00-10.1%
3
0
26.00-6.5%
0
0
27.00-2.9%
0
0
28.000.6%
0
0
29.004.2%
0
0
30.007.8%
0
0
31.0011.4%
0
0
32.0015.0%
0
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+$775Delta change / 1% move
Positive peak26.00+$777
Negative peak25.00-$2
Nearest balance25.00Interpolated sign change
StrikeNegativePositiveNet / 1% move
25.00-10.1%
-$2
26.00-6.5%
+$777
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.
0.23
18 Sep
4d
0.14
16 Oct
32d
0.21
15 Jan
123d
0.21
16 Apr
214d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
23
24
25
26
27
28
29
30
31
32
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 1 stored directional transitions, the next stored price moved in the labelled direction 0% of the time.
Directional follow-through0%
Moves contained by pricing90%
Average expiry move1.3%
21 Aug
Volatility · 52
0.4% through expiry
6.2% priced · v2.0
20 Aug
Volatility · 57
0.4% through expiry
10.9% priced · v2.0
19 Aug
Mixed · 27
0.4% through expiry
2.1% priced · v2.0
17 Aug
Volatility · 57
0.4% through expiry
11.0% priced · v2.0
14 Aug
Mixed · 27
0.4% through expiry
2.8% priced · v2.0
5 Aug
Mixed · 27
-0.5% through expiry
2.1% priced · v2.0
4 Aug
Mixed · 28
-0.5% through expiry
4.0% priced · v2.0
3 Aug
Mixed · 29
-0.5% through expiry
4.4% priced · v2.0
31 Jul
Bullish · 45
-0.5% through expiry
2.3% priced · v2.0
30 Jul
Mixed · 30
-8.8% through expiry
4.3% priced · v2.0
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
- 14 Sep 2026
- Calculation
- v2.0
- Contracts
- 98 / 98
- 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
Likely noise
Visible options activity is too thin or mixed to support a strong intent classification.
The options read is mixed, so divergence is not strong enough to classify.
Likely noise matters because it connects the options headline to the actual evidence: $0 of estimated gross traded notional, no dominant cluster, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+7
1W price+4.3%
Call premium0%
Put premium0%
Notional split
C 0% / P 0%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
Volume divided by open interest across the visible chain.
Trend fit
87/100
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.
No high-conviction option cluster is visible in this snapshot.
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Activity Anomaly
Above normal
Activity is running above the recent historical baseline.
Baseline: 18 completed sessions
Volume rank72th
Volume/OI rank72th
IV rank67th
Market Context
Underlying confirmation
Close27.82
1W+4.3%
RS7.8
Fair value+33.7%
Options pressure7
Speculation0
Volatility26
Trend fit87
Today Versus Normal
Stored-options context
30d avg 6.1% · 10 sessions
10th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
30d avg 0.63 · 10 sessions
40th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 5/30 sessions
-
180d avg - · 5/60 sessions
-
30d avg 0.29 · 10 sessions
60th
90d avg - · 18/30 sessions
-
180d avg - · 18/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:56
Mixed
Pressure 10
Move 4.4%
30 Jul 11:31
Mixed
Pressure 10
Move 4.4%
31 Jul 11:03
Mixed
Pressure 10
Move 4.3%
3 Aug 10:04
Bullish
Pressure 100
Move 2.3%
4 Aug 11:21
Mixed
Pressure 10
Move 4.4%
5 Aug 11:45
Mixed
Pressure 10
Move 4.0%
6 Aug 11:58
Mixed
Pressure 10
Move 2.1%
17 Aug 09:59
Mixed
Pressure 6
Move 2.8%
Strike Map
Where activity is clustering
Strike22.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike23.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike24.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike25.00
Calls · V 0 · OI 3
Puts · V 0 · OI 5
Strike26.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike27.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike28.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike29.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts22
Avg IV0.23
Put-call-
Expiry16 Oct 2026
Contracts32
Avg IV0.14
Put-call-
Expiry15 Jan 2027
Contracts22
Avg IV0.21
Put-call-
Expiry16 Apr 2027
Contracts22
Avg IV0.21
Put-call-
Skew
Call/put IV balance
18 Sep 2026Put IV premium
Call IV0.04
Put IV0.18
Skew0.14
16 Oct 2026Balanced skew
Call IV0.01
Put IV0.06
Skew0.05
15 Jan 2027Put IV premium
Call IV0.08
Put IV0.37
Skew0.28
16 Apr 2027Put IV premium
Call IV0.01
Put IV0.31
Skew0.29
Contract Tape
Most active contracts
ContractAAPY270115C00026000
SideCall
Expiry15 Jan 2027
Strike26.00
Volume-
OI10
IV0.12
ContractAAPY260918P00025000
SidePut
Expiry18 Sep 2026
Strike25.00
Volume-
OI5
IV0.50
ContractAAPY260918C00025000
SideCall
Expiry18 Sep 2026
Strike25.00
Volume-
OI3
IV0.61
ContractAAPY260918C00023000
SideCall
Expiry18 Sep 2026
Strike23.00
Volume-
OI-
IV0.01
ContractAAPY260918P00024000
SidePut
Expiry18 Sep 2026
Strike24.00
Volume-
OI-
IV0.66
ContractAAPY260918P00028000
SidePut
Expiry18 Sep 2026
Strike28.00
Volume-
OI-
IV0.01
ContractAAPY260918C00024000
SideCall
Expiry18 Sep 2026
Strike24.00
Volume-
OI-
IV0.01
ContractAAPY260918C00026000
SideCall
Expiry18 Sep 2026
Strike26.00
Volume-
OI-
IV0.35
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.