Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
SARK options intelligence
TRADR 1X SHORT INNOVATION DAILY ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
58
Market data through 3 Aug 2026
Checked 3 Aug 2026 20:51 · complete available chain
Volatility expansion watch
Volatility pressure
SARK currently carries volatility options pressure with a 58/100 conviction score. The nearest-chain expected move is 9.9%, with volume/open-interest participation at 0.75.
Expected move
9.9%
Wider near-term move priced
Activity / OI
0.75
Current volume is elevated versus prior open interest
Put-call
0.10
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+0.6%
RS -7.3
Expected move
9.9%
Put-call volume
0.10
Volume / OI
0.75
Reference IV
0.56
Max pain
27.00
Underlying
30.30
Nearest expiry
21 Aug 2026
Contracts
44
Research Brief
SARK has a volatility chain read with 58/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 27.30–33.30; The largest call open-interest concentration is 29.00; the largest put concentration is 26.00. The most active strike by current volume is 31.00.
Priced range27.30–33.30
Call concentration29.00
Put concentration26.00
Max pain reference27.00
- 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 27.30 to 33.30. Max pain at 27.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
27.3030.30 ± 3.0033.30
Confirmation level
A close beyond 33.30 or below 27.30 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 58/100
Pressure is 93/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure93 × 42%
+39.0
How strongly activity leans toward calls or puts.
Participation49 × 22%
+10.9
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility79 × 10%
+7.9
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 29.00; the largest put concentration is 26.00. The most active strike by current volume is 31.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
0
23.00-24.1%
0
1
24.00-20.8%
0
1
25.00-17.5%
1
4
26.00-14.2%
1
2
27.00-10.9%
4
2
28.00-7.6%
4
2
29.00-4.3%
20
0
30.00-1.0%
11
1
31.002.3%
15
0
32.005.6%
3
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Positive gamma proxy
Call-side gamma sensitivity outweighs the put-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile+$16,941Delta change / 1% move
Positive peak34.00+$7,363
Negative peak26.00-$474
Nearest balance26.81Interpolated sign change
StrikeNegativePositiveNet / 1% move
20.00-34.0%
+$8
24.00-20.8%
-$26
25.00-17.5%
-$101
26.00-14.2%
-$474
27.00-10.9%
+$113
28.00-7.6%
+$544
29.00-4.3%
+$1,508
30.00-1.0%
+$3,921
31.002.3%
+$1,041
32.005.6%
+$819
34.0012.2%
+$7,363
35.0015.5%
-$4
37.0022.1%
+$37
38.0025.4%
+$1,450
40.0032.0%
+$564
45.0048.5%
+$22
50.0065.0%
+$156
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.
0.56
21 Aug
18d
0.57
18 Sep
46d
0.52
18 Dec
137d
0.53
19 Mar
228d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
25
26
27
28
29
30
31
32
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
High
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 3 Aug 2026
- Calculation
- v2.0
- Contracts
- 44 / 44
- 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
Volatility expansion bet
The strongest message is movement risk: expected move and implied volatility are carrying more signal than direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Volatility expansion bet matters because it connects the options headline to the actual evidence: $71,405 of estimated gross traded notional, calls · 46-90 days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+93
1W price+0.6%
Call premium95%
Put premium5%
Notional split
C 95% / P 5%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.75
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.
Calls · 46-90 days · OTM
calls cluster with 226 contracts traded, $41,711 estimated gross traded notional, and 58% of visible notional.
$41,711
Calls · 46-90 days · ITM
calls cluster with 21 contracts traded, $23,120 estimated gross traded notional, and 32% of visible notional.
$23,120
Calls · 8-21 days · ATM
calls cluster with 15 contracts traded, $1,412 estimated gross traded notional, and 2% of visible notional.
$1,412
Puts · 91+ days · ATM
puts cluster with 2 contracts traded, $1,050 estimated gross traded notional, and 1% of visible notional.
$1,050
Calls · 8-21 days · ITM
calls cluster with 5 contracts traded, $1,040 estimated gross traded notional, and 1% of visible notional.
$1,040
Setup Classification
Opportunity and risk frame
Participation is active enough to treat follow-through risk carefully.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Options positioning is not confirming the underlying trend context.
Activity Anomaly
Warming up
4 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 4 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close30.30
1W+0.6%
RS-7.3
Fair value-41.2%
Options pressure93
Speculation49
Volatility79
Trend fit0
Today Versus Normal
Stored-options context
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 4/10 sessions
-
90d avg - · 4/30 sessions
-
180d avg - · 4/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 13:02
Mixed
Pressure 11
Move 6.6%
30 Jul 12:55
Bullish
Pressure 44
Move 7.2%
31 Jul 12:25
Bullish
Pressure 100
Move 6.3%
3 Aug 12:47
Bullish
Pressure 84
Move 8.0%
3 Aug 17:00
Volatility
Pressure 94
Move 9.2%
3 Aug 19:51
Volatility
Pressure 93
Move 9.9%
Strike Map
Where activity is clustering
Strike23.00
Calls · V 0 · OI 0
Puts · V 1 · OI 0
Strike24.00
Calls · V 0 · OI 0
Puts · V 1 · OI 1
Strike25.00
Calls · V 0 · OI 1
Puts · V 0 · OI 1
Strike26.00
Calls · V 0 · OI 1
Puts · V 2 · OI 4
Strike27.00
Calls · V 1 · OI 4
Puts · V 5 · OI 2
Strike28.00
Calls · V 1 · OI 4
Puts · V 1 · OI 2
Strike29.00
Calls · V 3 · OI 20
Puts · V 2 · OI 2
Strike30.00
Calls · V 5 · OI 11
Puts · V 0 · OI 0
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts16
Avg IV0.56
Put-call0.57
Expiry18 Sep 2026
Contracts22
Avg IV0.57
Put-call0.05
Expiry18 Dec 2026
Contracts5
Avg IV0.52
Put-call-
Expiry19 Mar 2027
Contracts1
Avg IV0.53
Put-call-
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV0.52
Put IV0.52
Skew0.00
18 Sep 2026Balanced skew
Call IV0.50
Put IV0.49
Skew-0.01
18 Dec 2026Incomplete skew
Call IV0.57
Put IV-
Skew-
19 Mar 2027Incomplete skew
Call IV-
Put IV0.53
Skew-
Contract Tape
Most active contracts
ContractSARK260918C00028000
SideCall
Expiry18 Sep 2026
Strike28.00
Volume-
OI10
IV0.66
ContractSARK260821P00031000
SidePut
Expiry21 Aug 2026
Strike31.00
Volume-
OI1
IV0.48
ContractSARK260821C00026000
SideCall
Expiry21 Aug 2026
Strike26.00
Volume-
OI1
IV0.72
ContractSARK260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume-
OI1
IV1.16
ContractSARK261218C00035000
SideCall
Expiry18 Dec 2026
Strike35.00
Volume-
OI1
IV0.48
ContractSARK261218C00020000
SideCall
Expiry18 Dec 2026
Strike20.00
Volume-
OI1
IV0.38
ContractSARK260918P00028000
SidePut
Expiry18 Sep 2026
Strike28.00
Volume-
OI1
IV0.82
ContractSARK261218C00040000
SideCall
Expiry18 Dec 2026
Strike40.00
Volume-
OI1
IV0.58
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
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.