Primary read
Bearish
Put-side pressure
Ticker Options Intelligence
XNDU options intelligence
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
42
Market data through 29 Jul 2026
Checked 30 Jul 2026 05:20 · complete available chain
Put-side pressure
Bearish pressure
XNDU currently carries bearish options pressure with a 42/100 conviction score. The nearest-chain expected move is 16.4%, with volume/open-interest participation at 0.04.
Expected move
16.4%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
1.83
Put-side skew
Trend fit
76
Options agree with trend context
Weekly backdrop
+2.9%
Sharemaestro weekly context
Expected move
16.4%
Put-call volume
1.83
Volume / OI
0.04
Reference IV
0.71
Max pain
11.00
Underlying
10.28
Nearest expiry
31 Jul 2026
Contracts
534
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.
Put-side pressure is building while price is rising, a cautionary divergence.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $212846 of estimated gross traded notional, puts · 91+ days · itm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-24
1W price+2.9%
Call premium17%
Put premium83%
Notional split
C 17% / P 83%
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
76/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 6 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 93 contracts traded, $91010 estimated gross traded notional, and 43% of visible notional.
$91010
Puts · 0-7 days · ITM
puts cluster with 36 contracts traded, $24630 estimated gross traded notional, and 12% of visible notional.
$24630
Puts · 22-45 days · ITM
puts cluster with 65 contracts traded, $24488 estimated gross traded notional, and 12% of visible notional.
$24488
Puts · 8-21 days · ITM
puts cluster with 69 contracts traded, $23542 estimated gross traded notional, and 11% of visible notional.
$23542
Calls · 91+ days · OTM
calls cluster with 147 contracts traded, $20612 estimated gross traded notional, and 10% of visible notional.
$20612
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Put pressure is building after the stock has already moved below fair value.
Activity Anomaly
Above normal
Activity is running above the recent historical baseline.
Volume rank100th
Volume/OI rank100th
IV rank0th
Market Context
Underlying confirmation
Close10.28
1W+2.9%
RS-
Fair value-23.8%
Options pressure-24
Speculation17
Volatility90
Trend fit76
Today Versus Normal
Stored-options context
30d avg 9.5% · 1 read
100th
90d avg 9.5% · 1 read
100th
180d avg 9.5% · 1 read
100th
30d avg 1.05 · 1 read
0th
90d avg 1.05 · 1 read
0th
180d avg 1.05 · 1 read
0th
30d avg 0.04 · 1 read
100th
90d avg 0.04 · 1 read
100th
180d avg 0.04 · 1 read
100th
30d avg 0.02 · 1 read
100th
90d avg 0.02 · 1 read
100th
180d avg 0.02 · 1 read
100th
Pressure Trail
Recent pressure and volatility
29 Jul 10:39
Volatility
Pressure 99
Move 9.5%
30 Jul 04:20
Bearish
Pressure -24
Move 16.4%
Strike Map
Where activity is clustering
Strike2.00
Calls · V 3 · OI 6
Puts · V 0 · OI 0
Strike3.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike4.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike5.00
Calls · V 1 · OI 0
Puts · V 0 · OI 1
Strike5.50
Calls · V 1 · OI 0
Puts · V 0 · OI 3
Strike6.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike6.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike7.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts80
Avg IV0.71
Put-call1.11
Expiry7 Aug 2026
Contracts80
Avg IV0.13
Put-call0.41
Expiry14 Aug 2026
Contracts72
Avg IV0.29
Put-call10.33
Expiry21 Aug 2026
Contracts72
Avg IV1.41
Put-call0.07
Expiry28 Aug 2026
Contracts60
Avg IV0.56
Put-call20.00
Skew
Call/put IV balance
31 Jul 2026Call IV premium
Call IV0.61
Put IV0.28
Skew-0.33
7 Aug 2026Call IV premium
Call IV0.29
Put IV0.13
Skew-0.16
14 Aug 2026Call IV premium
Call IV1.39
Put IV0.10
Skew-1.29
21 Aug 2026Put IV premium
Call IV1.21
Put IV2.16
Skew0.95
28 Aug 2026Call IV premium
Call IV0.23
Put IV0.07
Skew-0.16
Contract Tape
Most active contracts
ContractXNDU270115P00002500
SidePut
Expiry15 Jan 2027
Strike2.50
Volume300
OI225
IV0.87
ContractXNDU270319C00020000
SideCall
Expiry19 Mar 2027
Strike20.00
Volume54
OI482
IV1.15
ContractXNDU270319C00025000
SideCall
Expiry19 Mar 2027
Strike25.00
Volume52
OI286
IV1.17
ContractXNDU270115P00017500
SidePut
Expiry15 Jan 2027
Strike17.50
Volume50
OI82
IV1.23
ContractXNDU261016C00017500
SideCall
Expiry16 Oct 2026
Strike17.50
Volume48
OI279
IV1.30
ContractXNDU260814P00011500
SidePut
Expiry14 Aug 2026
Strike11.50
Volume45
OI46
IV1.55
ContractXNDU260904P00011000
SidePut
Expiry4 Sep 2026
Strike11.00
Volume45
OI-
IV1.31
ContractXNDU270115P00020000
SidePut
Expiry15 Jan 2027
Strike20.00
Volume43
OI184
IV1.03
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.