Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
INSP options intelligence
Inspire Medical Systems Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
55
Market data through 31 Jul 2026
Checked 31 Jul 2026 14:36 · complete available chain
Put-side pressure
Bearish pressure
INSP currently carries bearish options pressure with a 55/100 conviction score. The nearest-chain expected move is 15.7%, with volume/open-interest participation at 0.18.
Expected move
15.7%
Wider near-term move priced
Activity / OI
0.18
Current volume is quieter versus prior open interest
Put-call
2.34
Put-side skew
Trend fit
87
Options agree with trend context
Weekly backdrop
-2.8%
RS -37.8
Expected move
15.7%
Put-call volume
2.34
Volume / OI
0.18
Reference IV
0.06
Max pain
50.00
Underlying
49.19
Nearest expiry
21 Aug 2026
Contracts
172
Research Brief
INSP has a bearish chain read with 55/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 41.45–56.93; The largest call open-interest concentration is 75.00; the largest put concentration is 50.00. The most active strike by current volume is 55.00.
Priced range41.45–56.93
Call concentration75.00
Put concentration50.00
Max pain reference50.00
- Price remains weak while put-side concentration persists.
- The current chain read already agrees with the stored weekly trend context.
- Price recovers while put pressure fades or reverses toward calls.
Priced Move
Where the chain says movement becomes exceptional
Options imply 41.45 to 56.93. Max pain at 50.00 sits inside that range, 1.6% above spot.
Spot
Max pain
41.4549.19 ± 7.7456.93
Confirmation level
A close beyond 56.93 or below 41.45 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 55/100
Pressure is 52/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure52 × 42%
+21.9
How strongly activity leans toward calls or puts.
Participation27 × 22%
+5.9
Volume relative to existing open interest and contract-level activity.
Trend agreement87 × 26%
+22.7
How closely the chain read agrees with the underlying trend backdrop.
Volatility45 × 10%
+4.5
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 75.00; the largest put concentration is 50.00. The most active strike by current volume is 55.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
96
30.00-39.0%
0
5
35.00-28.8%
0
120
40.00-18.7%
109
53
45.00-8.5%
39
233
50.001.6%
133
40
55.0011.8%
86
103
60.0022.0%
56
20
65.0032.1%
32
1
70.0042.3%
132
16
75.0052.5%
135
1
80.0062.6%
54
4
85.0072.8%
0
4
90.0083.0%
15
10
95.0093.1%
29
15
105.00113.5%
0
0
130.00164.3%
0
0
150.00204.9%
5
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Back-loaded volatility
Longer-dated options carry more implied volatility than the front expiry, so risk is priced farther out.
0.06
21 Aug
21d
0.11
18 Sep
49d
0.02
20 Nov
112d
0.10
18 Dec
140d
0.51
15 Jan
168d
0.43
19 Feb
203d
0.28
19 Mar
231d
0.12
17 Dec
504d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
40
45
50
55
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
- 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
High
Retained chain100%
Implied volatility100%
Two-sided quotes99%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 172 / 172
- 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
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options pressure and weekly price action are both cautionary.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $1.0M of estimated gross traded notional, puts · 91+ days · itm, and a bearish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-52
1W price-2.8%
Call premium13%
Put premium87%
Notional split
C 13% / P 87%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.18
Volume divided by open interest across the visible chain.
Trend fit
87/100
Agreement between options pressure and Sharemaestro market context.
Event window
3 Aug
Matched earnings event is 2 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · ITM
puts cluster with 126 contracts traded, $603379 estimated gross traded notional, and 59% of visible notional.
$603379
Puts · 8-21 days · ITM
puts cluster with 84 contracts traded, $225275 estimated gross traded notional, and 22% of visible notional.
$225275
Calls · 8-21 days · ITM
calls cluster with 46 contracts traded, $43775 estimated gross traded notional, and 4% of visible notional.
$43775
Calls · 91+ days · OTM
calls cluster with 91 contracts traded, $39815 estimated gross traded notional, and 4% of visible notional.
$39815
Puts · 91+ days · OTM
puts cluster with 98 contracts traded, $26132 estimated gross traded notional, and 3% of visible notional.
$26132
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Warming up
3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 3 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close49.19
1W-2.8%
RS-37.8
Fair value-65.8%
Options pressure-52
Speculation27
Volatility45
Trend fit87
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:10
Bullish
Pressure 32
Move 18.9%
30 Jul 10:56
Mixed
Pressure 3
Move 16.0%
30 Jul 17:18
Volatility
Pressure -31
Move 17.6%
30 Jul 23:41
Volatility
Pressure -52
Move 16.4%
31 Jul 01:59
Volatility
Pressure -100
Move 16.4%
31 Jul 13:36
Bearish
Pressure -52
Move 15.7%
Strike Map
Where activity is clustering
Strike22.50
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike25.00
Calls · V 0 · OI 0
Puts · V 1 · OI 2
Strike30.00
Calls · V 1 · OI 0
Puts · V 2 · OI 96
Strike35.00
Calls · V 0 · OI 0
Puts · V 1 · OI 5
Strike40.00
Calls · V 30 · OI 109
Puts · V 1 · OI 120
Strike45.00
Calls · V 15 · OI 39
Puts · V 8 · OI 53
Strike50.00
Calls · V 1 · OI 133
Puts · V 6 · OI 233
Strike55.00
Calls · V 28 · OI 86
Puts · V 30 · OI 40
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts44
Avg IV0.06
Put-call1.02
Expiry18 Sep 2026
Contracts10
Avg IV0.11
Put-call29.14
Expiry20 Nov 2026
Contracts23
Avg IV0.02
Put-call0.50
Expiry18 Dec 2026
Contracts45
Avg IV0.10
Put-call1.81
Expiry15 Jan 2027
Contracts31
Avg IV0.51
Put-call5.82
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.02
Put IV0.13
Skew0.11
18 Sep 2026Balanced skew
Call IV0.06
Put IV0.06
Skew-
20 Nov 2026Balanced skew
Call IV0.01
Put IV0.03
Skew0.02
18 Dec 2026Balanced skew
Call IV0.01
Put IV0.03
Skew0.02
15 Jan 2027Balanced skew
Call IV0.01
Put IV0.03
Skew0.02
Contract Tape
Most active contracts
ContractINSP261218P00135000
SidePut
Expiry18 Dec 2026
Strike135.00
Volume-
OI551
IV0.00
ContractINSP271217P00045000
SidePut
Expiry17 Dec 2027
Strike45.00
Volume-
OI145
IV0.02
ContractINSP261218P00060000
SidePut
Expiry18 Dec 2026
Strike60.00
Volume-
OI10
IV0.62
ContractINSP261218C00030000
SideCall
Expiry18 Dec 2026
Strike30.00
Volume-
OI10
IV0.00
ContractINSP270319C00065000
SideCall
Expiry19 Mar 2027
Strike65.00
Volume-
OI5
IV0.06
ContractINSP260821C00155000
SideCall
Expiry21 Aug 2026
Strike155.00
Volume-
OI4
IV2.97
ContractINSP261120P00080000
SidePut
Expiry20 Nov 2026
Strike80.00
Volume-
OI4
IV1.43
ContractINSP261120P00075000
SidePut
Expiry20 Nov 2026
Strike75.00
Volume-
OI4
IV1.36
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
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.