Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
APLD options intelligence
Applied Digital Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
38
Market data through 31 Jul 2026
Checked 31 Jul 2026 22:56 · complete available chain
Call-side pressure
Bullish pressure
APLD currently carries bullish options pressure with a 38/100 conviction score. The nearest-chain expected move is 1.7%, with volume/open-interest participation at 0.11.
Expected move
1.7%
Near-term move context
Activity / OI
0.11
Current volume is quieter versus prior open interest
Put-call
0.33
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+0.7%
RS -15.0
Expected move
1.7%
Put-call volume
0.33
Volume / OI
0.11
Reference IV
0.48
Max pain
26.00
Underlying
27.19
Nearest expiry
31 Jul 2026
Contracts
826
Research Brief
APLD has a bullish chain read with 38/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 26.74–27.64; The largest call open-interest concentration is 30.00; the largest put concentration is 24.00. The most active strike by current volume is 28.00.
Priced range26.74–27.64
Call concentration30.00
Put concentration24.00
Max pain reference26.00
- 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 26.74 to 27.64. Max pain at 26.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
26.7427.19 ± 0.4527.64
Confirmation level
A close beyond 27.64 or below 26.74 at the 31 Jul 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 38/100
Pressure is 58/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure58 × 42%
+24.2
How strongly activity leans toward calls or puts.
Participation43 × 22%
+9.4
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.1
How closely the chain read agrees with the underlying trend backdrop.
Volatility40 × 10%
+4.0
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 30.00; the largest put concentration is 24.00. The most active strike by current volume is 28.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
2190
24.00-11.7%
296
2052
25.00-8.1%
1376
999
26.00-4.4%
2047
768
26.50-2.5%
802
1296
27.00-0.7%
2801
339
27.501.1%
4267
1131
28.003.0%
2903
279
28.504.8%
2606
614
29.006.7%
2606
358
29.508.5%
1604
1196
30.0010.3%
11172
35
31.0014.0%
2182
49
32.0017.7%
1989
52
33.0021.4%
6696
4
35.0028.7%
8544
2
36.0032.4%
2815
2
40.0047.1%
5640
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.
0.48
31 Jul
0d
1.04
7 Aug
7d
0.98
14 Aug
14d
1.02
21 Aug
21d
1.00
28 Aug
28d
0.99
4 Sep
35d
1.02
18 Sep
49d
1.05
16 Oct
77d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
22
23
23
24
24
25
25
26
26
27
27
28
29
29
30
30
31
31
32
32
33
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 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 quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 826 / 826
- 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.
Call-side pressure is building before a meaningful weekly price response.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $15.0M of estimated gross traded notional, puts · 91+ days · itm, and a bullish 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+0.7%
Call premium54%
Put premium46%
Notional split
C 54% / P 46%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.11
Volume divided by open interest across the visible chain.
Trend fit
0/100
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.
Puts · 91+ days · ITM
puts cluster with 959 contracts traded, $2.9M estimated gross traded notional, and 19% of visible notional.
$2.9M
Calls · 91+ days · OTM
calls cluster with 3292 contracts traded, $2.3M estimated gross traded notional, and 15% of visible notional.
$2.3M
Calls · 8-21 days · OTM
calls cluster with 11547 contracts traded, $1.4M estimated gross traded notional, and 9% of visible notional.
$1.4M
Puts · 46-90 days · ITM
puts cluster with 640 contracts traded, $1.2M estimated gross traded notional, and 8% of visible notional.
$1.2M
Puts · 0-7 days · ITM
puts cluster with 3075 contracts traded, $954651 estimated gross traded notional, and 6% of visible notional.
$954651
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Call pressure is building while the stock sits above Sharemaestro 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
Close27.39
1W+0.7%
RS-15.0
Fair value+92.3%
Options pressure58
Speculation43
Volatility40
Trend fit0
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 10:23
Bullish
Pressure 46
Move 9.7%
30 Jul 10:19
Bullish
Pressure 60
Move 14.6%
31 Jul 09:36
Bullish
Pressure 53
Move 6.3%
31 Jul 17:06
Bullish
Pressure 50
Move 2.8%
31 Jul 19:43
Bullish
Pressure 56
Move 2.2%
31 Jul 20:01
Bullish
Pressure 58
Move 1.8%
31 Jul 21:56
Bullish
Pressure 58
Move 1.7%
Strike Map
Where activity is clustering
Strike13.00
Calls · V 6 · OI 2
Puts · V 1 · OI 29
Strike14.00
Calls · V 0 · OI 0
Puts · V 1 · OI 69
Strike15.00
Calls · V 13 · OI 43
Puts · V 1 · OI 180
Strike16.00
Calls · V 13 · OI 47
Puts · V 14 · OI 6
Strike17.00
Calls · V 17 · OI 45
Puts · V 26 · OI 164
Strike17.50
Calls · V 0 · OI 0
Puts · V 25 · OI 285
Strike18.00
Calls · V 9 · OI 17
Puts · V 13 · OI 2122
Strike18.50
Calls · V 0 · OI 0
Puts · V 6 · OI 1218
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts138
Avg IV0.48
Put-call0.29
Expiry7 Aug 2026
Contracts110
Avg IV1.04
Put-call0.51
Expiry14 Aug 2026
Contracts58
Avg IV0.98
Put-call0.82
Expiry21 Aug 2026
Contracts88
Avg IV1.02
Put-call0.11
Expiry28 Aug 2026
Contracts57
Avg IV1.00
Put-call0.32
Skew
Call/put IV balance
31 Jul 2026Put IV premium
Call IV0.44
Put IV0.55
Skew0.11
7 Aug 2026Balanced skew
Call IV1.00
Put IV1.00
Skew0.00
14 Aug 2026Call IV premium
Call IV1.11
Put IV1.03
Skew-0.07
21 Aug 2026Balanced skew
Call IV1.02
Put IV1.04
Skew0.01
28 Aug 2026Balanced skew
Call IV1.03
Put IV1.07
Skew0.03
Contract Tape
Most active contracts
ContractAPLD261016C00017000
SideCall
Expiry16 Oct 2026
Strike17.00
Volume-
OI20
IV6.77
ContractAPLD260918P00001000
SidePut
Expiry18 Sep 2026
Strike1.00
Volume-
OI2
IV-
ContractAPLD270617P00075000
SidePut
Expiry17 Jun 2027
Strike75.00
Volume-
OI1
IV0.78
ContractAPLD260814C00015000
SideCall
Expiry14 Aug 2026
Strike15.00
Volume-
OI1
IV2.31
ContractAPLD260821P00065000
SidePut
Expiry21 Aug 2026
Strike65.00
Volume-
OI-
IV0.00
ContractAPLD261016P00075000
SidePut
Expiry16 Oct 2026
Strike75.00
Volume-
OI-
IV0.00
ContractAPLD260807P00045500
SidePut
Expiry7 Aug 2026
Strike45.50
Volume-
OI-
IV3.06
ContractAPLD260731C00028000
SideCall
Expiry31 Jul 2026
Strike28.00
Volume7189
OI2903
IV0.27
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
Applied Digital Corporation (APLD) pullback puts active weekly trend under pressure9 Jul 2026 16:55
Applied Digital Corporation (APLD) weekly slide spreads to four-week tape8 Jul 2026 13:55
Applied Digital Corporation (APLD) loses 15.9% as weekly pressure interrupts rebound1 Jul 2026 10:09
Applied Digital Corporation (APLD) weekly rebound outpaces its four-week grind25 Jun 2026 17:30
Applied Digital Corporation (APLD) extends 12-week surge to 96.1%24 Jun 2026 00:30
Applied Digital Corporation (APLD) ends week with 96.1% twelve-week gain22 Jun 2026 16:15
Earnings
No upcoming matched earnings event.
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.