Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
QLYS options intelligence
Qualys Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 17 Sep 2026
Checked 18 Sep 2026 13:29 · complete available chain
Call-side pressure
Bullish pressure
QLYS currently carries bullish options pressure with a 43/100 conviction score. The nearest-chain expected move is 8.2%, with volume/open-interest participation at 0.02.
Expected move
8.2%
Wider near-term move priced
Activity / OI
0.02
Current volume is quieter versus prior open interest
Put-call
0.42
Call-side skew
Trend fit
53
Options are not fully confirming trend
Weekly backdrop
+16.4%
RS 24.0
Expected move
8.2%
Put-call volume
0.42
Volume / OI
0.02
Reference IV
1.56
Max pain
115.00
Underlying
150.28
Nearest expiry
18 Sep 2026
Contracts
312
Research Brief
QLYS has a bullish chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 138.01–162.55; The largest call open-interest concentration is 120.00; the largest put concentration is 95.00. The most active strike by current volume is 200.00.
Priced range138.01–162.55
Call concentration120.00
Put concentration95.00
Max pain reference115.00
- Price holds or improves while call-side concentration remains elevated.
- Participation is above the ticker's stored normal, which makes the read more noteworthy.
- 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
Options imply 138.01 to 162.55. Max pain at 115.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
138.01150.28 ± 12.27162.55
Confirmation level
A close beyond 162.55 or below 138.01 at the 18 Sep 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 43/100
Pressure is 44/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure44 × 42%
+18.4
How strongly activity leans toward calls or puts.
Participation9 × 22%
+1.9
Volume relative to existing open interest and contract-level activity.
Trend agreement53 × 26%
+13.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility89 × 10%
+8.9
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 120.00; the largest put concentration is 95.00. The most active strike by current volume is 200.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
45
60.00-60.1%
1
96
65.00-56.7%
1
88
70.00-53.4%
3
16
80.00-46.8%
35
91
90.00-40.1%
12
775
95.00-36.8%
4
42
115.00-23.5%
1950
491
120.00-20.1%
1974
23
125.00-16.8%
34
6
150.00-0.2%
79
29
155.003.1%
98
595
160.006.5%
57
27
165.009.8%
21
28
170.0013.1%
58
18
175.0016.4%
29
7
180.0019.8%
35
49
200.0033.1%
126
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+$139,330Delta change / 1% move
Positive peak220.00+$88,452
Negative peak160.00-$129,621
Nearest balance145.11Interpolated sign change
StrikeNegativePositiveNet / 1% move
100.00-33.5%
+$87
105.00-30.1%
+$392
110.00-26.8%
-$20,658
115.00-23.5%
+$67,238
120.00-20.1%
+$74,686
125.00-16.8%
+$1,282
130.00-13.5%
+$72,544
135.00-10.2%
-$1,180
140.00-6.8%
+$239
145.00-3.5%
+$1,951
150.00-0.2%
-$83,649
155.003.1%
-$87,466
160.006.5%
-$129,621
165.009.8%
+$2,460
170.0013.1%
+$47,894
175.0016.4%
+$34,085
180.0019.8%
+$60,614
185.0023.1%
+$29,751
190.0026.4%
-$66,477
195.0029.8%
+$12,405
200.0033.1%
+$25,238
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
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.56
18 Sep
1d
0.57
16 Oct
29d
0.59
20 Nov
64d
0.57
18 Dec
92d
0.56
19 Mar
183d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
125
130
135
140
145
150
155
160
165
170
175
180
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Across 12 stored directional transitions, the next stored price moved in the labelled direction 50% of the time.
Directional follow-through50%
Moves contained by pricing57%
Average expiry move12.3%
17 Sep
Bullish · 43
16.4% through expiry
8.2% priced · v2.0
15 Sep
Volatility · 53
16.4% through expiry
23.9% priced · v2.0
14 Sep
Volatility · 52
16.4% through expiry
7.4% priced · v2.0
11 Sep
Mixed · 40
16.4% through expiry
4.7% priced · v2.0
9 Sep
Bullish · 39
1.9% through expiry
6.2% priced · v2.0
4 Sep
Bullish · 43
1.9% through expiry
7.2% priced · v2.0
2 Sep
Bullish · 47
-6.5% through expiry
9.4% priced · v2.0
28 Aug
Bullish · 57
-6.5% through expiry
8.7% priced · v2.0
24 Aug
Bullish · 49
-3.9% through expiry
9.6% priced · v2.0
21 Aug
Bullish · 59
-3.9% through expiry
9.8% priced · v2.0
19 Aug
Bullish · 40
-2.2% through expiry
2.9% priced · v2.0
14 Aug
Bullish · 45
-2.2% through expiry
3.8% 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
- 17 Sep 2026
- Calculation
- v2.0
- Contracts
- 312 / 312
- 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.
Options pressure and weekly price action are pointing in the same constructive direction.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $336,428 of estimated gross traded notional, calls · 91+ days · otm, 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+44
1W price+16.4%
Call premium91%
Put premium9%
Notional split
C 91% / P 9%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.02
Volume divided by open interest across the visible chain.
Trend fit
53/100
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.
Calls · 91+ days · OTM
calls cluster with 117 contracts traded, $198,200 estimated gross traded notional, and 59% of visible notional.
$198,200
Calls · 0-7 days · ITM
calls cluster with 6 contracts traded, $49,180 estimated gross traded notional, and 15% of visible notional.
$49,180
Calls · 91+ days · ITM
calls cluster with 4 contracts traded, $30,340 estimated gross traded notional, and 9% of visible notional.
$30,340
Puts · 22-45 days · ITM
puts cluster with 43 contracts traded, $24,160 estimated gross traded notional, and 7% of visible notional.
$24,160
Calls · 22-45 days · OTM
calls cluster with 16 contracts traded, $22,995 estimated gross traded notional, and 7% of visible notional.
$22,995
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.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
Above normal
Activity is running above the recent historical baseline.
Baseline: 22 completed sessions
Volume rank64th
Volume/OI rank64th
IV rank100th
Market Context
Underlying confirmation
Close174.96
1W+16.4%
RS24.0
Fair value+24.3%
Options pressure44
Speculation9
Volatility89
Trend fit53
Today Versus Normal
Stored-options context
30d avg 9.0% · 10 sessions
50th
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg 0.54 · 10 sessions
100th
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg 0.68 · 10 sessions
50th
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
30d avg 0.03 · 10 sessions
60th
90d avg - · 22/30 sessions
-
180d avg - · 22/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:51
Volatility
Pressure 100
Move 13.2%
30 Jul 10:42
Volatility
Pressure -77
Move 12.8%
31 Jul 10:30
Bullish
Pressure 42
Move 13.6%
31 Jul 14:45
Volatility
Pressure 75
Move 12.8%
31 Jul 15:59
Volatility
Pressure 74
Move 12.9%
2 Aug 09:30
Mixed
Pressure 13
Move 12.2%
4 Aug 10:22
Mixed
Pressure 5
Move 13.9%
5 Aug 10:54
Volatility
Pressure 17
Move 17.4%
Strike Map
Where activity is clustering
Strike40.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike45.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 21
Strike60.00
Calls · V 0 · OI 1
Puts · V 0 · OI 45
Strike65.00
Calls · V 0 · OI 1
Puts · V 0 · OI 96
Strike70.00
Calls · V 0 · OI 3
Puts · V 0 · OI 88
Strike75.00
Calls · V 0 · OI 3
Puts · V 0 · OI 15
Term Structure
Expiration activity
Expiry18 Sep 2026
Contracts74
Avg IV1.56
Put-call0.17
Expiry16 Oct 2026
Contracts44
Avg IV0.57
Put-call3.94
Expiry20 Nov 2026
Contracts44
Avg IV0.59
Put-call-
Expiry18 Dec 2026
Contracts80
Avg IV0.57
Put-call0.02
Expiry19 Mar 2027
Contracts70
Avg IV0.56
Put-call-
Skew
Call/put IV balance
18 Sep 2026Put IV premium
Call IV0.85
Put IV1.21
Skew0.35
16 Oct 2026Put IV premium
Call IV0.50
Put IV0.58
Skew0.08
20 Nov 2026Balanced skew
Call IV0.55
Put IV0.57
Skew0.02
18 Dec 2026Put IV premium
Call IV0.51
Put IV0.57
Skew0.06
19 Mar 2027Balanced skew
Call IV0.51
Put IV0.54
Skew0.03
Contract Tape
Most active contracts
ContractQLYS261218C00185000
SideCall
Expiry18 Dec 2026
Strike185.00
Volume102
OI101
IV0.55
ContractQLYS261016P00165000
SidePut
Expiry16 Oct 2026
Strike165.00
Volume27
OI26
IV0.50
ContractQLYS261016P00150000
SidePut
Expiry16 Oct 2026
Strike150.00
Volume20
OI49
IV0.58
ContractQLYS261016C00170000
SideCall
Expiry16 Oct 2026
Strike170.00
Volume12
OI65
IV0.57
ContractQLYS261218C00200000
SideCall
Expiry18 Dec 2026
Strike200.00
Volume11
OI54
IV0.51
ContractQLYS260918C00200000
SideCall
Expiry18 Sep 2026
Strike200.00
Volume7
OI126
IV0.83
ContractQLYS261016P00160000
SidePut
Expiry16 Oct 2026
Strike160.00
Volume7
OI7
IV0.55
ContractQLYS260918C00105000
SideCall
Expiry18 Sep 2026
Strike105.00
Volume4
OI14
IV5.60
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.