Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
TNET options intelligence
TriNet Group Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
54
Market data through 18 Sep 2026
Checked 21 Sep 2026 11:46 · complete available chain
Call-side pressure
Bullish pressure
TNET currently carries bullish options pressure with a 54/100 conviction score. The nearest-chain expected move is 10.9%, with volume/open-interest participation at 0.03.
Expected move
10.9%
Wider near-term move priced
Activity / OI
0.03
Current volume is quieter versus prior open interest
Put-call
0.32
Call-side skew
Trend fit
49
Options are not fully confirming trend
Weekly backdrop
+1.9%
RS 16.1
Expected move
10.9%
Put-call volume
0.32
Volume / OI
0.03
Reference IV
0.40
Max pain
70.00
Underlying
67.29
Nearest expiry
16 Oct 2026
Contracts
128
Research Brief
TNET has a bullish chain read with 54/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 59.94–74.64; The largest call open-interest concentration is 90.00; the largest put concentration is 65.00. The most active strike by current volume is 85.00.
Priced range59.94–74.64
Call concentration90.00
Put concentration65.00
Max pain reference70.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 59.94 to 74.64. Max pain at 70.00 sits inside that range, 4.0% above spot.
Spot
Max pain
59.9467.29 ± 7.3574.64
Confirmation level
A close beyond 74.64 or below 59.94 at the 16 Oct 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 54/100
Pressure is 61/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure61 × 42%
+25.8
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement49 × 26%
+12.8
How closely the chain read agrees with the underlying trend backdrop.
Volatility68 × 10%
+6.8
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 90.00; the largest put concentration is 65.00. The most active strike by current volume is 85.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
35.00-48.0%
0
0
40.00-40.6%
0
0
45.00-33.1%
0
1
50.00-25.7%
0
2
55.00-18.3%
0
1
60.00-10.8%
0
3
65.00-3.4%
0
2
70.004.0%
0
0
75.0011.5%
1
0
80.0018.9%
1
0
85.0026.3%
1
0
90.0033.7%
7
0
95.0041.2%
1
0
100.0048.6%
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+$44,245Delta change / 1% move
Positive peak60.00+$15,812
Negative peak45.00-$304
Nearest balance50.04Interpolated sign change
StrikeNegativePositiveNet / 1% move
17.50-74.0%
-$1
20.00-70.3%
-$5
22.50-66.6%
-$7
25.00-62.8%
-$13
30.00-55.4%
-$84
35.00-48.0%
-$20
40.00-40.6%
-$73
45.00-33.1%
-$304
50.00-25.7%
-$99
55.00-18.3%
+$11,307
60.00-10.8%
+$15,812
65.00-3.4%
+$588
70.004.0%
+$318
75.0011.5%
+$2,080
80.0018.9%
+$816
85.0026.3%
+$12,991
90.0033.7%
+$913
95.0041.2%
+$20
105.0056.0%
+$5
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.
0.40
16 Oct
28d
0.52
20 Nov
63d
0.52
18 Dec
91d
0.52
19 Mar
182d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
55
60
65
70
75
80
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 11 stored directional transitions, the next stored price moved in the labelled direction 64% of the time.
Directional follow-through64%
Moves contained by pricing95%
Average expiry move4.4%
16 Sep
Volatility · 54
1.9% through expiry
6.9% priced · v2.0
14 Sep
Bullish · 59
1.9% through expiry
4.0% priced · v2.0
10 Sep
Bullish · 62
-2.6% through expiry
7.9% priced · v2.0
8 Sep
Volatility · 46
-2.6% through expiry
9.5% priced · v2.0
4 Sep
Bullish · 42
-2.6% through expiry
7.5% priced · v2.0
2 Sep
Bearish · 43
-4.2% through expiry
8.4% priced · v2.0
31 Aug
Bullish · 44
-4.2% through expiry
8.1% priced · v2.0
20 Aug
Volatility · 59
2.5% through expiry
5.5% priced · v2.0
19 Aug
Bullish · 57
2.5% through expiry
3.9% priced · v2.0
14 Aug
Bullish · 55
2.5% through expiry
6.2% priced · v2.0
13 Aug
Volatility · 50
2.9% through expiry
7.5% priced · v2.0
12 Aug
Bullish · 69
2.9% through expiry
8.8% 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
- 18 Sep 2026
- Calculation
- v2.0
- Contracts
- 128 / 128
- 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
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $5,610 of estimated gross traded notional, calls · 46-90 days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+61
1W price+1.9%
Call premium61%
Put premium39%
Notional split
C 61% / P 39%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.03
Volume divided by open interest across the visible chain.
Trend fit
49/100
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 46-90 days · ITM
calls cluster with 1 contracts traded, $2,700 estimated gross traded notional, and 48% of visible notional.
$2,700
Puts · 46-90 days · OTM
puts cluster with 6 contracts traded, $1,680 estimated gross traded notional, and 30% of visible notional.
$1,680
Puts · 22-45 days · OTM
puts cluster with 2 contracts traded, $530 estimated gross traded notional, and 9% of visible notional.
$530
Calls · 22-45 days · OTM
calls cluster with 23 contracts traded, $470 estimated gross traded notional, and 8% of visible notional.
$470
Calls · 46-90 days · OTM
calls cluster with 1 contracts traded, $230 estimated gross traded notional, and 4% of visible notional.
$230
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.
Activity Anomaly
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 22 completed sessions
Volume rank36th
Volume/OI rank36th
IV rank9th
Market Context
Underlying confirmation
Close67.29
1W+1.9%
RS16.1
Fair value-16.2%
Options pressure61
Speculation41
Volatility68
Trend fit49
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:00
Volatility
Pressure -66
Move 17.5%
29 Jul 23:21
Bullish
Pressure 40
Move 20.9%
30 Jul 01:14
Bullish
Pressure 62
Move 20.6%
31 Jul 10:13
Bearish
Pressure -19
Move 12.7%
1 Aug 03:13
Mixed
Pressure 8
Move 14.1%
2 Aug 18:17
Mixed
Pressure 8
Move 9.1%
4 Aug 06:40
Volatility
Pressure 100
Move 12.5%
5 Aug 07:53
Volatility
Pressure 92
Move 11.6%
Strike Map
Where activity is clustering
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike65.00
Calls · V 0 · OI 0
Puts · V 2 · OI 3
Strike70.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Term Structure
Expiration activity
Expiry16 Oct 2026
Contracts28
Avg IV0.40
Put-call0.09
Expiry20 Nov 2026
Contracts28
Avg IV0.52
Put-call6.00
Expiry18 Dec 2026
Contracts40
Avg IV0.52
Put-call-
Expiry19 Mar 2027
Contracts32
Avg IV0.52
Put-call-
Skew
Call/put IV balance
16 Oct 2026Balanced skew
Call IV0.46
Put IV0.51
Skew0.05
20 Nov 2026Put IV premium
Call IV0.44
Put IV0.56
Skew0.12
18 Dec 2026Put IV premium
Call IV0.44
Put IV0.59
Skew0.15
19 Mar 2027Put IV premium
Call IV0.46
Put IV0.57
Skew0.11
Contract Tape
Most active contracts
ContractTNET261016C00085000
SideCall
Expiry16 Oct 2026
Strike85.00
Volume16
OI1
IV0.52
ContractTNET261016C00090000
SideCall
Expiry16 Oct 2026
Strike90.00
Volume7
OI7
IV0.39
ContractTNET261120P00060000
SidePut
Expiry20 Nov 2026
Strike60.00
Volume6
OI-
IV0.56
ContractTNET261016P00065000
SidePut
Expiry16 Oct 2026
Strike65.00
Volume2
OI3
IV0.51
ContractTNET261218C00040000
SideCall
Expiry18 Dec 2026
Strike40.00
Volume1
OI10
IV0.01
ContractTNET261120C00075000
SideCall
Expiry20 Nov 2026
Strike75.00
Volume1
OI-
IV0.43
ContractTNET261218C00060000
SideCall
Expiry18 Dec 2026
Strike60.00
Volume-
OI181
IV0.51
ContractTNET261218C00055000
SideCall
Expiry18 Dec 2026
Strike55.00
Volume-
OI179
IV0.55
Research Graph
Related research and context
Sharemaestro research
Related News
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.