Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
NXT options intelligence
Nextracker Inc. Class A Common Stock options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
35
Market data through 31 Jul 2026
Checked 3 Aug 2026 04:30 · complete available chain
Options-market disagreement
Mixed pressure
NXT currently carries mixed options pressure with a 35/100 conviction score. The nearest-chain expected move is 14.7%, with volume/open-interest participation at 0.04.
Expected move
14.7%
Wider near-term move priced
Activity / OI
0.04
Current volume is quieter versus prior open interest
Put-call
0.79
Balanced tape
Trend fit
44
Options are not fully confirming trend
Weekly backdrop
-10.2%
RS -18.3
Expected move
14.7%
Put-call volume
0.79
Volume / OI
0.04
Reference IV
0.78
Max pain
120.00
Underlying
89.87
Nearest expiry
21 Aug 2026
Contracts
404
Research Brief
NXT has a mixed chain read with 35/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 76.67–103.07; The largest call open-interest concentration is 150.00; the largest put concentration is 90.00. The most active strike by current volume is 105.00.
Priced range76.67–103.07
Call concentration150.00
Put concentration90.00
Max pain reference120.00
- A clear directional pressure reading develops and price begins to agree.
- Volatility falls and the chain remains directionally mixed.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 76.67 to 103.07. Max pain at 120.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
76.6789.87 ± 13.20103.07
Confirmation level
A close beyond 103.07 or below 76.67 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 35/100
Pressure is 12/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure12 × 42%
+5.1
How strongly activity leans toward calls or puts.
Participation41 × 22%
+9.0
Volume relative to existing open interest and contract-level activity.
Trend agreement44 × 26%
+11.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility94 × 10%
+9.4
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 150.00; the largest put concentration is 90.00. The most active strike by current volume is 105.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
876
70.00-22.1%
13
1334
75.00-16.5%
16
2459
90.000.1%
64
884
95.005.7%
47
292
100.0011.3%
107
175
105.0016.8%
144
699
110.0022.4%
205
227
115.0028.0%
449
1227
120.0033.5%
674
87
125.0039.1%
1423
815
130.0044.7%
1600
111
135.0050.2%
1405
159
140.0055.8%
268
119
150.0066.9%
1931
13
155.0072.5%
392
0
170.0089.2%
641
0
180.00100.3%
1232
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Negative gamma proxy
Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile-$651,337Delta change / 1% move
Positive peak125.00+$133,079
Negative peak90.00-$570,130
Nearest balance106.84Interpolated sign change
StrikeNegativePositiveNet / 1% move
40.00-55.5%
-$53,831
45.00-49.9%
-$452
50.00-44.4%
-$1,115
55.00-38.8%
+$411
60.00-33.2%
-$5,174
65.00-27.7%
-$23,777
70.00-22.1%
-$96,450
75.00-16.5%
-$152,535
80.00-11.0%
-$36,480
85.00-5.4%
-$46,210
90.000.1%
-$570,130
95.005.7%
-$229,205
100.0011.3%
-$22,901
105.0016.8%
-$24,980
110.0022.4%
+$42,911
115.0028.0%
+$1,066
120.0033.5%
-$33,571
125.0039.1%
+$133,079
130.0044.7%
+$128,713
135.0050.2%
+$59,663
140.0055.8%
+$28,856
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.
0.78
21 Aug
21d
0.75
18 Sep
49d
0.80
20 Nov
112d
0.77
15 Jan
168d
0.78
19 Feb
203d
0.74
21 Jan
539d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
75
80
85
90
95
100
105
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
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
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
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 404 / 404
- 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.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $1.5M of estimated gross traded notional, puts · 8-21 days · itm, 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+12
1W price-10.2%
Call premium41%
Put premium59%
Notional split
C 41% / P 59%
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
44/100
Agreement between options pressure and Sharemaestro market context.
Event window
4 Aug
Matched earnings event is 0 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 · 8-21 days · ITM
puts cluster with 234 contracts traded, $405,665 estimated gross traded notional, and 26% of visible notional.
$405,665
Calls · 91+ days · OTM
calls cluster with 123 contracts traded, $141,758 estimated gross traded notional, and 9% of visible notional.
$141,758
Calls · 8-21 days · OTM
calls cluster with 678 contracts traded, $128,412 estimated gross traded notional, and 8% of visible notional.
$128,412
Puts · 91+ days · ITM
puts cluster with 35 contracts traded, $125,760 estimated gross traded notional, and 8% of visible notional.
$125,760
Calls · 91+ days · ITM
calls cluster with 34 contracts traded, $123,025 estimated gross traded notional, and 8% of visible notional.
$123,025
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
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
Close89.87
1W-10.2%
RS-18.3
Fair value+39.9%
Options pressure12
Speculation41
Volatility94
Trend fit44
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 10:16
Bullish
Pressure 33
Move 20.0%
30 Jul 11:26
Mixed
Pressure 11
Move 19.8%
31 Jul 05:25
Bullish
Pressure 59
Move 19.4%
31 Jul 17:29
Mixed
Pressure 0
Move 16.2%
1 Aug 07:19
Mixed
Pressure 12
Move 16.1%
3 Aug 03:30
Mixed
Pressure 12
Move 14.7%
Strike Map
Where activity is clustering
Strike45.00
Calls · V 0 · OI 3
Puts · V 0 · OI 6
Strike50.00
Calls · V 0 · OI 1
Puts · V 0 · OI 4
Strike55.00
Calls · V 0 · OI 1
Puts · V 10 · OI 52
Strike60.00
Calls · V 0 · OI 13
Puts · V 6 · OI 319
Strike65.00
Calls · V 2 · OI 2
Puts · V 14 · OI 342
Strike70.00
Calls · V 2 · OI 13
Puts · V 34 · OI 876
Strike75.00
Calls · V 10 · OI 16
Puts · V 27 · OI 1334
Strike80.00
Calls · V 4 · OI 26
Puts · V 43 · OI 171
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts72
Avg IV0.78
Put-call0.76
Expiry18 Sep 2026
Contracts44
Avg IV0.75
Put-call0.87
Expiry20 Nov 2026
Contracts72
Avg IV0.80
Put-call1.80
Expiry15 Jan 2027
Contracts86
Avg IV0.77
Put-call0.53
Expiry19 Feb 2027
Contracts54
Avg IV0.78
Put-call1.40
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.77
Put IV0.81
Skew0.05
18 Sep 2026Balanced skew
Call IV0.74
Put IV0.72
Skew-0.02
20 Nov 2026Balanced skew
Call IV0.81
Put IV0.78
Skew-0.03
15 Jan 2027Balanced skew
Call IV0.77
Put IV0.76
Skew-0.01
19 Feb 2027Balanced skew
Call IV0.79
Put IV0.78
Skew-0.01
Contract Tape
Most active contracts
ContractNXT260821C00105000
SideCall
Expiry21 Aug 2026
Strike105.00
Volume181
OI144
IV0.77
ContractNXT260821P00090000
SidePut
Expiry21 Aug 2026
Strike90.00
Volume122
OI2459
IV0.76
ContractNXT260821C00095000
SideCall
Expiry21 Aug 2026
Strike95.00
Volume112
OI47
IV0.77
ContractNXT260918C00095000
SideCall
Expiry18 Sep 2026
Strike95.00
Volume82
OI75
IV0.76
ContractNXT260821C00130000
SideCall
Expiry21 Aug 2026
Strike130.00
Volume72
OI1600
IV0.85
ContractNXT260821C00100000
SideCall
Expiry21 Aug 2026
Strike100.00
Volume71
OI107
IV0.79
ContractNXT260821P00095000
SidePut
Expiry21 Aug 2026
Strike95.00
Volume68
OI884
IV0.74
ContractNXT260821P00105000
SidePut
Expiry21 Aug 2026
Strike105.00
Volume62
OI175
IV0.77
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.