Ticker Options Intelligence

ERAS options intelligence

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

Conviction 37 Market data through 29 Jul 2026 Checked 30 Jul 2026 11:41 · complete available chain

Put-side pressure

Bearish pressure

ERAS currently carries bearish options pressure with a 37/100 conviction score. The nearest-chain expected move is 25.0%, with volume/open-interest participation at 0.01.

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

Put-side pressure

Expected move 25.0%

Wider near-term move priced

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 5.21

Put-side skew

Trend fit 5

Options are not fully confirming trend

Weekly backdrop -0.3%

RS 102.9

Expected move 25.0%
Put-call volume 5.21
Volume / OI 0.01
Reference IV 1.01
Max pain 17.50
Underlying 19.11
Nearest expiry 21 Aug 2026
Contracts 240

Research Brief

ERAS has a bearish chain read with 37/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 14.34–23.88; The largest call open-interest concentration is 20.00; the largest put concentration is 17.50. The most active strike by current volume is 20.00.

Priced range14.34–23.88
Call concentration20.00
Put concentration17.50
Max pain reference17.50
What would confirm it
  • Price remains weak while put-side concentration persists.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.
  • Options and the weekly trend are not yet giving the same message.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 14.34 to 23.88. Max pain at 17.50 sits inside that range, 8.4% below spot.

Spot Max pain
14.3419.11 ± 4.7723.88
Confirmation level

A close beyond 23.88 or below 14.34 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 37/100

Evidence alignment, not probability

Pressure is 58/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure58 × 42%
+24.4

How strongly activity leans toward calls or puts.

Participation8 × 22%
+1.7

Volume relative to existing open interest and contract-level activity.

Trend agreement5 × 26%
+1.3

How closely the chain read agrees with the underlying trend backdrop.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score37.0Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 20.00; the largest put concentration is 17.50. The most active strike by current volume is 20.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
5
2.50-86.9%
0
0
5.00-73.8%
1
2
7.50-60.8%
0
326
10.00-47.7%
1
252
12.50-34.6%
0
724
15.00-21.5%
122
1241
17.50-8.4%
101
27
20.004.7%
3004
3
22.5017.7%
198
0
25.0030.8%
792
0
30.0057.0%
2
0
35.0083.2%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Balanced volatility curve

1.07× front/back

Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.

1.01 21 Aug 22d
1.19 18 Sep 50d
1.10 16 Oct 78d
1.12 18 Dec 141d
1.09 15 Jan 169d
0.99 19 Mar 232d
0.99 16 Apr 260d
0.97 17 Jun 322d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

18
20
23
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

No independently verifiable option-expiry outcomes have matured yet. Legacy snapshots without a point-in-time market reference and repeated same-session snapshots are deliberately excluded.

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

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
29 Jul 2026
Calculation
v1.x legacy
Contracts
240 / 240
  • 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

82/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Bearish flow before price confirmation

Put-side pressure is present before a decisive weekly price breakdown.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $542990 of estimated gross traded notional, puts · 91+ days · otm, and a bearish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-58
1W price-0.3%
Call premium19%
Put premium81%
Notional split C 19% / P 81% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.01 Volume divided by open interest across the visible chain.
Trend fit 5/100 Agreement between options pressure and Sharemaestro market context.
Event window 11 Aug Matched earnings event is 11 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 91+ days · OTM
Puts · 91+ days · OTM puts cluster with 1252 contracts traded, $428810 estimated gross traded notional, and 79% of visible notional.
$428810
Calls · 91+ days · OTM calls cluster with 165 contracts traded, $62710 estimated gross traded notional, and 12% of visible notional.
$62710
Calls · 91+ days · ITM calls cluster with 34 contracts traded, $31635 estimated gross traded notional, and 6% of visible notional.
$31635
Puts · 22-45 days · ITM puts cluster with 25 contracts traded, $8500 estimated gross traded notional, and 2% of visible notional.
$8500
Calls · 46-90 days · OTM calls cluster with 27 contracts traded, $6795 estimated gross traded notional, and 1% of visible notional.
$6795

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.

Activity Anomaly

Warming up

-

1 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 1 completed session

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close19.11
1W-0.3%
RS102.9
Fair value+335.3%
Options pressure-58
Speculation8
Volatility96
Trend fit5

Today Versus Normal

Stored-options context

View history
Expected move 25.0% history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -
IV 1.01 history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -
Put-call 5.21 history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -
Volume/OI 0.01 history building
30d avg - · 1/10 sessions -
90d avg - · 1/30 sessions -
180d avg - · 1/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:45 Volatility
Pressure 99
Move 22.4%
30 Jul 10:41 Bearish
Pressure -58
Move 25.0%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike5.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike10.00
Calls · V 0 · OI 1
Puts · V 0 · OI 326
Strike12.50
Calls · V 0 · OI 0
Puts · V 6 · OI 252
Strike15.00
Calls · V 0 · OI 122
Puts · V 4 · OI 724
Strike17.50
Calls · V 0 · OI 101
Puts · V 1 · OI 1241
Strike20.00
Calls · V 18 · OI 3004
Puts · V 25 · OI 27

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts24
Avg IV1.01
Put-call1.64
Expiry18 Sep 2026
Contracts24
Avg IV1.19
Put-call0.20
Expiry16 Oct 2026
Contracts24
Avg IV1.10
Put-call0.09
Expiry18 Dec 2026
Contracts24
Avg IV1.12
Put-call-
Expiry15 Jan 2027
Contracts24
Avg IV1.09
Put-call13.18

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV1.18
Put IV1.07
Skew-0.11
18 Sep 2026Call IV premium
Call IV1.22
Put IV1.14
Skew-0.09
16 Oct 2026Call IV premium
Call IV1.31
Put IV1.01
Skew-0.30
18 Dec 2026Put IV premium
Call IV0.97
Put IV1.09
Skew0.12
15 Jan 2027Put IV premium
Call IV1.00
Put IV1.11
Skew0.11

Contract Tape

Most active contracts

Full contract tape
ContractERAS270115P00015000
SidePut
Expiry15 Jan 2027
Strike15.00
Volume1252
OI3740
IV1.11
ContractERAS280121C00035000
SideCall
Expiry21 Jan 2028
Strike35.00
Volume50
OI1985
IV0.90
ContractERAS270115C00030000
SideCall
Expiry15 Jan 2027
Strike30.00
Volume45
OI286
IV1.05
ContractERAS280121C00030000
SideCall
Expiry21 Jan 2028
Strike30.00
Volume26
OI497
IV0.97
ContractERAS280121C00012500
SideCall
Expiry21 Jan 2028
Strike12.50
Volume25
OI89
IV0.95
ContractERAS260821P00020000
SidePut
Expiry21 Aug 2026
Strike20.00
Volume25
OI27
IV1.12
ContractERAS270115C00025000
SideCall
Expiry15 Jan 2027
Strike25.00
Volume21
OI122
IV0.99
ContractERAS261016C00020000
SideCall
Expiry16 Oct 2026
Strike20.00
Volume20
OI9316
IV1.13