Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
NDSN options intelligence
Nordson Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
50
Market data through 18 Sep 2026
Checked 21 Sep 2026 12:00 · complete available chain
Call-side pressure
Bullish pressure
NDSN currently carries bullish options pressure with a 50/100 conviction score. The nearest-chain expected move is 3.9%, with volume/open-interest participation at 0.24.
Expected move
3.9%
Near-term move context
Activity / OI
0.24
Current volume is quieter versus prior open interest
Put-call
0.08
Call-side skew
Trend fit
9
Options are not fully confirming trend
Weekly backdrop
-0.9%
RS 3.3
Expected move
3.9%
Put-call volume
0.08
Volume / OI
0.24
Reference IV
0.17
Max pain
320.00
Underlying
311.57
Nearest expiry
16 Oct 2026
Contracts
238
Research Brief
NDSN has a bullish chain read with 50/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 299.49–323.65; The largest call open-interest concentration is 350.00; the largest put concentration is 320.00. The most active strike by current volume is 310.00.
Priced range299.49–323.65
Call concentration350.00
Put concentration320.00
Max pain reference320.00
- 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 299.49 to 323.65. Max pain at 320.00 sits inside that range, 2.7% above spot.
Spot
Max pain
299.49311.57 ± 12.08323.65
Confirmation level
A close beyond 323.65 or below 299.49 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 50/100
Pressure is 83/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure83 × 42%
+34.8
How strongly activity leans toward calls or puts.
Participation46 × 22%
+10.0
Volume relative to existing open interest and contract-level activity.
Trend agreement9 × 26%
+2.4
How closely the chain read agrees with the underlying trend backdrop.
Volatility27 × 10%
+2.7
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 350.00; the largest put concentration is 320.00. The most active strike by current volume is 310.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
185.00-40.6%
0
0
190.00-39.0%
0
0
195.00-37.4%
0
0
200.00-35.8%
1
0
210.00-32.6%
0
0
220.00-29.4%
1
0
230.00-26.2%
0
0
240.00-23.0%
3
0
250.00-19.8%
3
0
260.00-16.6%
0
1
280.00-10.1%
0
4
300.00-3.7%
0
3
310.00-0.5%
1
22
320.002.7%
8
7
330.005.9%
19
7
340.009.1%
15
0
350.0012.3%
106
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile+$65,283Delta change / 1% move
Positive peak330.00+$116,043
Negative peak260.00-$75,735
Nearest balance310.96Interpolated sign change
StrikeNegativePositiveNet / 1% move
210.00-32.6%
-$43
220.00-29.4%
-$247
230.00-26.2%
-$483
240.00-23.0%
-$250
250.00-19.8%
-$63,578
260.00-16.6%
-$75,735
270.00-13.3%
+$1,304
280.00-10.1%
+$1,290
290.00-6.9%
-$773
300.00-3.7%
-$3,626
310.00-0.5%
-$7,715
320.002.7%
+$72,306
330.005.9%
+$116,043
340.009.1%
+$5,794
350.0012.3%
+$14,320
360.0015.5%
+$83
370.0018.8%
+$716
380.0022.0%
+$1,169
390.0025.2%
+$447
400.0028.4%
+$1,075
410.0031.6%
+$1,420
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.
0.17
16 Oct
28d
0.21
20 Nov
63d
0.24
18 Dec
91d
0.25
19 Mar
182d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
250
260
270
280
290
300
310
320
330
340
350
360
370
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 21 stored directional transitions, the next stored price moved in the labelled direction 57% of the time.
Directional follow-through57%
Moves contained by pricing22%
Average expiry move6.5%
16 Sep
Bullish · 43
-0.9% through expiry
1.6% priced · v2.0
15 Sep
Bullish · 46
-0.9% through expiry
2.0% priced · v2.0
11 Sep
Bullish · 45
-0.9% through expiry
2.8% priced · v2.0
9 Sep
Bullish · 48
-2.1% through expiry
3.2% priced · v2.0
4 Sep
Bearish · 44
-2.1% through expiry
2.7% priced · v2.0
3 Sep
Bearish · 40
-4.0% through expiry
3.2% priced · v2.0
1 Sep
Bearish · 49
-4.0% through expiry
3.6% priced · v2.0
28 Aug
Bullish · 41
-4.0% through expiry
3.8% priced · v2.0
25 Aug
Mixed · 32
-6.2% through expiry
3.9% priced · v2.0
24 Aug
Bullish · 41
-6.2% through expiry
4.2% priced · v2.0
21 Aug
Bullish · 52
-6.2% through expiry
4.3% priced · v2.0
20 Aug
Bullish · 49
7.3% through expiry
8.0% 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
- 238 / 238
- 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
Call activity against legacy put OI
Call activity is dominant while put open interest remains large but current put volume is not leading.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Call activity against legacy put OI matters because it connects the options headline to the actual evidence: $319,575 of estimated gross traded notional, calls · 22-45 days · atm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+83
1W price-0.9%
Call premium92%
Put premium8%
Notional split
C 92% / P 8%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.24
Volume divided by open interest across the visible chain.
Trend fit
9/100
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.
Do not infer a hedge unwind without next-session open-interest changes and opening/closing data.
Calls · 22-45 days · ATM
calls cluster with 351 contracts traded, $263,250 estimated gross traded notional, and 82% of visible notional.
$263,250
Puts · 46-90 days · ATM
puts cluster with 29 contracts traded, $25,810 estimated gross traded notional, and 8% of visible notional.
$25,810
Calls · 22-45 days · ITM
calls cluster with 12 contracts traded, $17,400 estimated gross traded notional, and 5% of visible notional.
$17,400
Calls · 22-45 days · OTM
calls cluster with 38 contracts traded, $12,065 estimated gross traded notional, and 4% of visible notional.
$12,065
Puts · 46-90 days · OTM
puts cluster with 3 contracts traded, $582 estimated gross traded notional, and 0% of visible notional.
$582
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
Normal range
Activity is broadly in line with recent stored snapshots.
Baseline: 29 completed sessions
Volume rank86th
Volume/OI rank86th
IV rank0th
Market Context
Underlying confirmation
Close311.57
1W-0.9%
RS3.3
Fair value+28.4%
Options pressure83
Speculation46
Volatility27
Trend fit9
Today Versus Normal
Stored-options context
30d avg 3.6% · 13 sessions
69th
90d avg - · 29/30 sessions
-
180d avg - · 29/60 sessions
-
30d avg 0.28 · 13 sessions
0th
90d avg - · 29/30 sessions
-
180d avg - · 29/60 sessions
-
30d avg 2.39 · 13 sessions
23th
90d avg - · 28/30 sessions
-
180d avg - · 28/60 sessions
-
30d avg 0.15 · 13 sessions
77th
90d avg - · 29/30 sessions
-
180d avg - · 29/60 sessions
-
Pressure Trail
Recent pressure and volatility
30 Jul 10:15
Mixed
Pressure 15
Move 5.8%
31 Jul 10:07
Bullish
Pressure 98
Move 5.8%
3 Aug 10:29
Bullish
Pressure 88
Move 5.6%
4 Aug 07:39
Bearish
Pressure -94
Move 5.7%
5 Aug 10:10
Bullish
Pressure 29
Move 6.3%
6 Aug 10:11
Bullish
Pressure 47
Move 6.2%
7 Aug 10:46
Mixed
Pressure -5
Move 5.9%
10 Aug 10:41
Mixed
Pressure 0
Move 4.8%
Strike Map
Where activity is clustering
Strike185.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike190.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike195.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike200.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike210.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike220.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike230.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike240.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry16 Oct 2026
Contracts58
Avg IV0.17
Put-call0.00
Expiry20 Nov 2026
Contracts58
Avg IV0.21
Put-call-
Expiry18 Dec 2026
Contracts60
Avg IV0.24
Put-call-
Expiry19 Mar 2027
Contracts62
Avg IV0.25
Put-call-
Skew
Call/put IV balance
16 Oct 2026Balanced skew
Call IV0.18
Put IV0.19
Skew0.01
20 Nov 2026Balanced skew
Call IV0.20
Put IV0.22
Skew0.02
18 Dec 2026Balanced skew
Call IV0.22
Put IV0.25
Skew0.03
19 Mar 2027Balanced skew
Call IV0.23
Put IV0.25
Skew0.02
Contract Tape
Most active contracts
ContractNDSN261016C00310000
SideCall
Expiry16 Oct 2026
Strike310.00
Volume351
OI1
IV0.18
ContractNDSN261016C00320000
SideCall
Expiry16 Oct 2026
Strike320.00
Volume38
OI8
IV0.18
ContractNDSN261120P00310000
SidePut
Expiry20 Nov 2026
Strike310.00
Volume29
OI1
IV0.21
ContractNDSN261016C00300000
SideCall
Expiry16 Oct 2026
Strike300.00
Volume12
OI-
IV0.19
ContractNDSN270319C00400000
SideCall
Expiry19 Mar 2027
Strike400.00
Volume2
OI3
IV0.22
ContractNDSN261218P00250000
SidePut
Expiry18 Dec 2026
Strike250.00
Volume1
OI275
IV0.31
ContractNDSN261218P00260000
SidePut
Expiry18 Dec 2026
Strike260.00
Volume1
OI250
IV0.29
ContractNDSN270319C00420000
SideCall
Expiry19 Mar 2027
Strike420.00
Volume1
OI5
IV0.22
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
No recent market-watch posts yet.
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.