Ticker Options Intelligence

ARAY options intelligence

Accuray Incorporated options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 27 Market data through 31 Jul 2026 Checked 2 Aug 2026 05:59 · complete available chain

Call-side pressure

Bullish pressure

ARAY currently carries bullish options pressure with a 27/100 conviction score. The nearest-chain expected move is 186.5%, with volume/open-interest participation at 0.00.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 186.5%

Wider near-term move priced

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call 0.75

Balanced tape

Trend fit 19

Options are not fully confirming trend

Weekly backdrop +12.5%

RS -71.1

Expected move 186.5%
Put-call volume 0.75
Volume / OI 0.00
Reference IV 5.03
Max pain 0.50
Underlying 0.27
Nearest expiry 21 Aug 2026
Contracts 42

Research Brief

ARAY has a bullish chain read with 27/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 0.00–0.77; The largest call open-interest concentration is 0.50; the largest put concentration is 1.50. The most active strike by current volume is 1.00.

Priced range0.00–0.77
Call concentration0.50
Put concentration1.50
Max pain reference0.50
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • Options and the weekly trend are not yet giving the same message.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 0.00 to 0.77. Max pain at 0.50 sits inside that range, 86.5% above spot. The theoretical downside extends below zero, so the displayed lower bound is floored at 0.00.

Spot Max pain
0.000.27 ± 0.500.77
Confirmation level

A close beyond 0.77 or below 0.00 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 27/100

Evidence alignment, not probability

Pressure is 26/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure26 × 42%
+11.0

How strongly activity leans toward calls or puts.

Participation8 × 22%
+1.8

Volume relative to existing open interest and contract-level activity.

Trend agreement19 × 26%
+5.0

How closely the chain read agrees with the underlying trend backdrop.

Volatility96 × 10%
+9.6

The intensity of implied volatility and the priced move.

Reconstructed score27.4Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 0.50; the largest put concentration is 1.50. The most active strike by current volume is 1.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
6
0.5086.5%
55
12
1.00273.0%
1
14
1.50459.5%
1
5
2.00646.0%
2
8
3.001019.0%
0
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

2.29× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

5.03 21 Aug 21d
2.32 18 Sep 49d
2.02 18 Dec 140d
2.19 19 Mar 231d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

There is not enough comparable OTM call and put volatility to classify the smile.

Comparable strike volatility is unavailable.

Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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

A97/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
42 / 42
  • 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

85/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Bullish flow confirms price

Options pressure and weekly price action are pointing in the same constructive direction.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $575 of estimated gross traded notional, puts · 46-90 days · itm, and a bullish flow confirms price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+26
1W price+12.5%
Call premium3%
Put premium97%
Notional split C 3% / P 97% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.00 Volume divided by open interest across the visible chain.
Trend fit 19/100 Agreement between options pressure and Sharemaestro market context.
Event window 12 Aug Matched earnings event is 10 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 46-90 days · ITM
Puts · 46-90 days · ITM puts cluster with 2 contracts traded, $475 estimated gross traded notional, and 83% of visible notional.
$475
Puts · 8-21 days · ITM puts cluster with 1 contracts traded, $80 estimated gross traded notional, and 14% of visible notional.
$80
Calls · 8-21 days · OTM calls cluster with 2 contracts traded, $10 estimated gross traded notional, and 2% of visible notional.
$10
Calls · 46-90 days · OTM calls cluster with 1 contracts traded, $5 estimated gross traded notional, and 1% of visible notional.
$5
Calls · 91+ days · OTM calls cluster with 1 contracts traded, $5 estimated gross traded notional, and 1% of visible notional.
$5

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

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

Sharemaestro weekly
Close0.27
1W+12.5%
RS-71.1
Fair value-84.0%
Options pressure26
Speculation8
Volatility96
Trend fit19

Today Versus Normal

Stored-options context

View history
Expected move 186.5% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 5.03 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.75 history building
30d avg - · 2/10 sessions -
90d avg - · 2/30 sessions -
180d avg - · 2/60 sessions -
Volume/OI 0.00 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 11:49 Volatility
Pressure 100
Move 101.9%
30 Jul 11:26 Volatility
Pressure -88
Move 388.0%
30 Jul 15:31 Volatility
Pressure -42
Move 209.7%
30 Jul 15:47 Volatility
Pressure -39
Move 251.7%
31 Jul 07:42 Volatility
Pressure 100
Move 251.7%
31 Jul 17:19 Volatility
Pressure 96
Move 209.7%
2 Aug 04:59 Bullish
Pressure 26
Move 186.5%

Strike Map

Where activity is clustering

Full strike map
Strike0.50
Calls · V 0 · OI 55
Puts · V 0 · OI 6
Strike1.00
Calls · V 1 · OI 1
Puts · V 1 · OI 12
Strike1.50
Calls · V 1 · OI 1
Puts · V 0 · OI 14
Strike2.00
Calls · V 0 · OI 2
Puts · V 0 · OI 5
Strike3.00
Calls · V 0 · OI 0
Puts · V 0 · OI 8

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts10
Avg IV5.03
Put-call0.50
Expiry18 Sep 2026
Contracts12
Avg IV2.32
Put-call2.00
Expiry18 Dec 2026
Contracts10
Avg IV2.02
Put-call-
Expiry19 Mar 2027
Contracts10
Avg IV2.19
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Incomplete skew
Call IV2.13
Put IV-
Skew-
18 Sep 2026Incomplete skew
Call IV1.39
Put IV-
Skew-
18 Dec 2026Incomplete skew
Call IV1.34
Put IV-
Skew-
19 Mar 2027Incomplete skew
Call IV1.04
Put IV-
Skew-

Contract Tape

Most active contracts

Full contract tape
ContractARAY260918C00000500
SideCall
Expiry18 Sep 2026
Strike0.50
Volume1
OI4353
IV1.39
ContractARAY260821P00001000
SidePut
Expiry21 Aug 2026
Strike1.00
Volume1
OI12
IV6.31
ContractARAY260918P00004000
SidePut
Expiry18 Sep 2026
Strike4.00
Volume1
OI2
IV10.00
ContractARAY260918P00001000
SidePut
Expiry18 Sep 2026
Strike1.00
Volume1
OI1
IV0.01
ContractARAY260821C00001000
SideCall
Expiry21 Aug 2026
Strike1.00
Volume1
OI1
IV3.48
ContractARAY270319C00003000
SideCall
Expiry19 Mar 2027
Strike3.00
Volume1
OI1
IV1.57
ContractARAY260821C00001500
SideCall
Expiry21 Aug 2026
Strike1.50
Volume1
OI1
IV4.16
ContractARAY260918C00001000
SideCall
Expiry18 Sep 2026
Strike1.00
Volume-
OI4159
IV2.28