Ticker Options Intelligence

HSAI options intelligence

Hesai Group Sponsored ADR options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 30 Market data through 31 Jul 2026 Checked 2 Aug 2026 13:14 · complete available chain

Options-market disagreement

Mixed pressure

HSAI currently carries mixed options pressure with a 30/100 conviction score. The nearest-chain expected move is 17.6%, with volume/open-interest participation at 0.03.

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

Options-market disagreement

Expected move 17.6%

Wider near-term move priced

Activity / OI 0.03

Current volume is quieter versus prior open interest

Put-call 0.84

Balanced tape

Trend fit 34

Options are not fully confirming trend

Weekly backdrop +15.8%

RS -31.4

Expected move 17.6%
Put-call volume 0.84
Volume / OI 0.03
Reference IV 1.04
Max pain 20.00
Underlying 16.90
Nearest expiry 21 Aug 2026
Contracts 168

Research Brief

HSAI has a mixed chain read with 30/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 13.92–19.88; The largest call open-interest concentration is 20.00; the largest put concentration is 20.00. The most active strike by current volume is 15.00.

Priced range13.92–19.88
Call concentration20.00
Put concentration20.00
Max pain reference20.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • 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 13.92 to 19.88. Max pain at 20.00 lies outside the priced range, so it is a weak near-term anchor.

Spot Max pain
13.9216.90 ± 2.9819.88
Confirmation level

A close beyond 19.88 or below 13.92 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 30/100

Evidence alignment, not probability

Pressure is 16/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure16 × 42%
+6.7

How strongly activity leans toward calls or puts.

Participation20 × 22%
+4.3

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

Trend agreement34 × 26%
+8.9

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 score29.6Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 20.00; the largest put concentration is 20.00. The most active strike by current volume is 15.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
2.50-85.2%
1
0
5.00-70.4%
5
0
7.50-55.6%
0
25
10.00-40.8%
108
471
12.50-26.0%
48
1130
15.00-11.2%
488
1214
17.503.6%
1336
2569
20.0018.3%
7675
554
22.5033.1%
1814
600
25.0047.9%
3774
0
30.0077.5%
1868
0
35.00107.1%
2559
0
40.00136.7%
52
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Gamma Profile by Strike

Positive gamma proxy

Reported Greeks · 100% coverage

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+$252,527Delta change / 1% move
Positive peak20.00+$151,041
Negative peak15.00-$17,102
Nearest balance15.92Interpolated sign change
StrikeNegativePositiveNet / 1% move
2.50-85.2%
+$5
5.00-70.4%
+$118
7.50-55.6%
-$338
10.00-40.8%
-$11,914
12.50-26.0%
-$10,824
15.00-11.2%
-$17,102
17.503.6%
+$29,541
20.0018.3%
+$151,041
22.5033.1%
+$35,285
25.0047.9%
+$53,128
30.0077.5%
+$14,235
35.00107.1%
+$5,932
40.00136.7%
+$3,422
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

1.22× front/back

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

1.04 21 Aug 21d
0.84 18 Sep 49d
0.82 16 Oct 77d
0.79 20 Nov 112d
0.83 15 Jan 168d
0.82 19 Feb 203d
0.85 21 Jan 539d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

15
18
20
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 matured · 0 directional

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

Usable with limits

C69/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
168 / 168
  • 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

84/100
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 No clean flow/price divergence

The options read is mixed, so divergence is not strong enough to classify.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $165,836 of estimated gross traded notional, calls · 46-90 days · otm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+16
1W price+15.8%
Call premium61%
Put premium39%
Notional split C 61% / P 39% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.03 Volume divided by open interest across the visible chain.
Trend fit 34/100 Agreement between options pressure and Sharemaestro market context.
Event window 13 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 Calls · 46-90 days · OTM
Calls · 46-90 days · OTM calls cluster with 611 contracts traded, $72,390 estimated gross traded notional, and 44% of visible notional.
$72,390
Puts · 46-90 days · ITM puts cluster with 91 contracts traded, $24,758 estimated gross traded notional, and 15% of visible notional.
$24,758
Puts · 8-21 days · OTM puts cluster with 308 contracts traded, $19,500 estimated gross traded notional, and 12% of visible notional.
$19,500
Calls · 8-21 days · OTM calls cluster with 132 contracts traded, $11,845 estimated gross traded notional, and 7% of visible notional.
$11,845
Calls · 8-21 days · ITM calls cluster with 36 contracts traded, $11,792 estimated gross traded notional, and 7% of visible notional.
$11,792

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
Close16.90
1W+15.8%
RS-31.4
Fair value+19.8%
Options pressure16
Speculation20
Volatility96
Trend fit34

Today Versus Normal

Stored-options context

View history
Expected move 17.6% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 1.04 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.84 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.03 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 10:54 Volatility
Pressure 85
Move 19.5%
30 Jul 10:45 Volatility
Pressure 95
Move 20.7%
31 Jul 10:31 Volatility
Pressure 80
Move 19.7%
31 Jul 18:33 Bullish
Pressure 38
Move 21.7%
31 Jul 19:43 Bullish
Pressure 34
Move 21.9%
31 Jul 23:04 Bullish
Pressure 35
Move 22.8%
2 Aug 12:14 Mixed
Pressure 16
Move 17.6%

Strike Map

Where activity is clustering

Full strike map
Strike2.50
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike5.00
Calls · V 0 · OI 5
Puts · V 0 · OI 0
Strike7.50
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike10.00
Calls · V 5 · OI 108
Puts · V 0 · OI 25
Strike12.50
Calls · V 0 · OI 48
Puts · V 13 · OI 471
Strike15.00
Calls · V 31 · OI 488
Puts · V 295 · OI 1130
Strike17.50
Calls · V 79 · OI 1336
Puts · V 1 · OI 1214
Strike20.00
Calls · V 45 · OI 7675
Puts · V 3 · OI 2569

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts26
Avg IV1.04
Put-call1.86
Expiry18 Sep 2026
Contracts22
Avg IV0.84
Put-call0.07
Expiry16 Oct 2026
Contracts22
Avg IV0.82
Put-call1.08
Expiry20 Nov 2026
Contracts22
Avg IV0.79
Put-call0.10
Expiry15 Jan 2027
Contracts26
Avg IV0.83
Put-call7.50

Skew

Call/put IV balance

OTM demand
21 Aug 2026Balanced skew
Call IV0.92
Put IV0.93
Skew0.01
18 Sep 2026Balanced skew
Call IV0.83
Put IV0.83
Skew-
16 Oct 2026Balanced skew
Call IV0.81
Put IV0.81
Skew0.01
20 Nov 2026Balanced skew
Call IV0.76
Put IV0.80
Skew0.04
15 Jan 2027Balanced skew
Call IV0.79
Put IV0.81
Skew0.02

Contract Tape

Most active contracts

Full contract tape
ContractHSAI260918C00020000
SideCall
Expiry18 Sep 2026
Strike20.00
Volume305
OI130
IV0.80
ContractHSAI260821P00015000
SidePut
Expiry21 Aug 2026
Strike15.00
Volume295
OI1130
IV0.93
ContractHSAI261016C00020000
SideCall
Expiry16 Oct 2026
Strike20.00
Volume293
OI864
IV0.80
ContractHSAI261016P00010000
SidePut
Expiry16 Oct 2026
Strike10.00
Volume209
OI1414
IV0.95
ContractHSAI261016P00017500
SidePut
Expiry16 Oct 2026
Strike17.50
Volume90
OI99
IV0.80
ContractHSAI260821C00017500
SideCall
Expiry21 Aug 2026
Strike17.50
Volume79
OI1336
IV0.88
ContractHSAI260821C00020000
SideCall
Expiry21 Aug 2026
Strike20.00
Volume45
OI7675
IV0.92
ContractHSAI260821C00015000
SideCall
Expiry21 Aug 2026
Strike15.00
Volume31
OI488
IV0.99