Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
HOOX options intelligence
DEFIANCE DAILY TARGET 2X LONG HOOD ETF options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
48
Market data through 3 Aug 2026
Checked 3 Aug 2026 20:19 · complete available chain
Volatility expansion watch
Volatility pressure
HOOX currently carries volatility options pressure with a 48/100 conviction score. The nearest-chain expected move is 27.4%, with volume/open-interest participation at 0.76.
Expected move
27.4%
Wider near-term move priced
Activity / OI
0.76
Current volume is elevated versus prior open interest
Put-call
1.64
Put-side skew
Trend fit
69
Options agree with trend context
Weekly backdrop
-17.4%
RS -59.7
Expected move
27.4%
Put-call volume
1.64
Volume / OI
0.76
Reference IV
1.38
Max pain
8.00
Underlying
24.01
Nearest expiry
21 Aug 2026
Contracts
117
Research Brief
HOOX has a volatility chain read with 48/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 17.44–30.59; The largest call open-interest concentration is 7.00; the largest put concentration is 1.00. The most active strike by current volume is 6.00.
Priced range17.44–30.59
Call concentration7.00
Put concentration1.00
Max pain reference8.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
Priced Move
Where the chain says movement becomes exceptional
Options imply 17.44 to 30.59. Max pain at 8.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
17.4424.01 ± 6.5730.59
Confirmation level
A close beyond 30.59 or below 17.44 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 48/100
Pressure is 18/100 toward puts; conviction uses its strength, while the signal label carries its direction.
Directional pressure18 × 42%
+7.7
How strongly activity leans toward calls or puts.
Participation58 × 22%
+12.7
Volume relative to existing open interest and contract-level activity.
Trend agreement69 × 26%
+17.9
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 7.00; the largest put concentration is 1.00. The most active strike by current volume is 6.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
100
1.00-95.8%
0
78
4.00-83.3%
0
18
5.00-79.2%
15
32
6.00-75.0%
6
7
7.00-70.8%
34
1
8.00-66.7%
30
2
9.00-62.5%
11
6
10.00-58.4%
29
1
15.00-37.5%
16
5
20.00-16.7%
18
0
26.008.3%
10
3
29.0020.8%
5
2
30.0024.9%
23
7
36.0049.9%
20
20
40.0066.6%
10
0
50.00108.2%
10
0
55.00129.1%
5
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+$4,321Delta change / 1% move
Positive peak32.00+$1,061
Negative peak38.00-$94
Nearest balance23.41Interpolated sign change
StrikeNegativePositiveNet / 1% move
15.00-37.5%
+$29
16.00-33.4%
+$6
17.00-29.2%
+$27
18.00-25.0%
+$31
19.00-20.9%
+$20
20.00-16.7%
+$244
21.00-12.5%
+$5
22.00-8.4%
+$55
23.00-4.2%
+$24
24.00-0.1%
-$34
25.004.1%
-$2
26.008.3%
+$310
27.0012.4%
-$73
28.0016.6%
+$820
29.0020.8%
+$58
30.0024.9%
+$642
31.0029.1%
-$12
32.0033.3%
+$1,061
33.0037.4%
+$235
34.0041.6%
-$6
35.0045.8%
+$227
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.
1.38
21 Aug
18d
1.27
18 Sep
46d
1.96
20 Nov
109d
1.38
19 Feb
200d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
20
21
22
24
25
26
27
28
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
- 117 / 117
- 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: $238,164 of estimated gross traded notional, calls · 91+ 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-18
1W price-17.4%
Call premium79%
Put premium21%
Notional split
C 79% / P 21%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.76
Volume divided by open interest across the visible chain.
Trend fit
69/100
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 · 91+ days · OTM
calls cluster with 163 contracts traded, $125,880 estimated gross traded notional, and 53% of visible notional.
$125,880
Calls · 91+ days · ITM
calls cluster with 20 contracts traded, $27,850 estimated gross traded notional, and 12% of visible notional.
$27,850
Puts · 91+ days · ITM
puts cluster with 18 contracts traded, $27,710 estimated gross traded notional, and 12% of visible notional.
$27,710
Calls · 8-21 days · ITM
calls cluster with 40 contracts traded, $25,321 estimated gross traded notional, and 11% of visible notional.
$25,321
Puts · 8-21 days · ITM
puts cluster with 17 contracts traded, $16,185 estimated gross traded notional, and 7% of visible notional.
$16,185
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
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.
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
Close24.01
1W-17.4%
RS-59.7
Fair value-50.3%
Options pressure-18
Speculation58
Volatility96
Trend fit69
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 - · 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
-
Pressure Trail
Recent pressure and volatility
29 Jul 12:30
Mixed
Pressure -12
Move 31.5%
30 Jul 12:07
Bullish
Pressure 25
Move 31.0%
31 Jul 11:52
Volatility
Pressure -75
Move 27.9%
31 Jul 23:04
Mixed
Pressure -7
Move 27.9%
3 Aug 04:54
Bullish
Pressure 26
Move 24.8%
3 Aug 14:56
Mixed
Pressure -7
Move 25.9%
3 Aug 19:19
Volatility
Pressure -18
Move 27.4%
Strike Map
Where activity is clustering
Strike1.00
Calls · V 1 · OI 0
Puts · V 100 · OI 100
Strike4.00
Calls · V 0 · OI 0
Puts · V 40 · OI 78
Strike5.00
Calls · V 5 · OI 15
Puts · V 20 · OI 18
Strike6.00
Calls · V 1 · OI 6
Puts · V 120 · OI 32
Strike7.00
Calls · V 1 · OI 34
Puts · V 40 · OI 7
Strike8.00
Calls · V 2 · OI 30
Puts · V 60 · OI 1
Strike9.00
Calls · V 2 · OI 11
Puts · V 4 · OI 2
Strike10.00
Calls · V 1 · OI 29
Puts · V 36 · OI 6
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts68
Avg IV1.38
Put-call4.35
Expiry18 Sep 2026
Contracts4
Avg IV1.27
Put-call-
Expiry20 Nov 2026
Contracts32
Avg IV1.96
Put-call0.05
Expiry19 Feb 2027
Contracts13
Avg IV1.38
Put-call3.20
Skew
Call/put IV balance
21 Aug 2026Balanced skew
Call IV1.42
Put IV1.37
Skew-0.04
18 Sep 2026Incomplete skew
Call IV1.30
Put IV-
Skew-
20 Nov 2026Call IV premium
Call IV4.97
Put IV0.06
Skew-4.91
19 Feb 2027Incomplete skew
Call IV1.34
Put IV-
Skew-
Contract Tape
Most active contracts
ContractHOOX260821P00036000
SidePut
Expiry21 Aug 2026
Strike36.00
Volume-
OI7
IV1.11
ContractHOOX261120C00012000
SideCall
Expiry20 Nov 2026
Strike12.00
Volume-
OI5
IV1.45
ContractHOOX270219P00034000
SidePut
Expiry19 Feb 2027
Strike34.00
Volume-
OI5
IV1.08
ContractHOOX261120C00050000
SideCall
Expiry20 Nov 2026
Strike50.00
Volume-
OI4
IV1.32
ContractHOOX260821P00021000
SidePut
Expiry21 Aug 2026
Strike21.00
Volume-
OI3
IV1.38
ContractHOOX260821C00012000
SideCall
Expiry21 Aug 2026
Strike12.00
Volume-
OI3
IV0.00
ContractHOOX260821C00027000
SideCall
Expiry21 Aug 2026
Strike27.00
Volume-
OI2
IV1.38
ContractHOOX260821P00024000
SidePut
Expiry21 Aug 2026
Strike24.00
Volume-
OI2
IV1.33
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.