Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
ONON options intelligence
On Holding Ltd options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
54
Market data through 29 Jul 2026
Checked 30 Jul 2026 00:20 · complete available chain
Volatility expansion watch
Volatility pressure
ONON currently carries volatility options pressure with a 54/100 conviction score. The nearest-chain expected move is 7.9%, with volume/open-interest participation at 0.06.
Expected move
7.9%
Wider near-term move priced
Activity / OI
0.06
Current volume is quieter versus prior open interest
Put-call
1.77
Put-side skew
Trend fit
95
Options agree with trend context
Weekly backdrop
-3.7%
RS -20.5
Expected move
7.9%
Put-call volume
1.77
Volume / OI
0.06
Reference IV
0.91
Max pain
38.00
Underlying
35.82
Nearest expiry
31 Jul 2026
Contracts
454
Options Intent Radar
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $4.2M of estimated gross traded notional, puts · 91+ days · itm, 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-27
1W price-3.7%
Call premium43%
Put premium57%
Notional split
C 43% / P 57%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.06
Volume divided by open interest across the visible chain.
Trend fit
95/100
Agreement between options pressure and Sharemaestro market context.
Event window
11 Aug
Matched earnings event is 12 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Puts · 91+ days · ITM
puts cluster with 1012 contracts traded, $866393 estimated gross traded notional, and 21% of visible notional.
$866393
Puts · 91+ days · OTM
puts cluster with 4078 contracts traded, $790146 estimated gross traded notional, and 19% of visible notional.
$790146
Calls · 91+ days · OTM
calls cluster with 2451 contracts traded, $697969 estimated gross traded notional, and 17% of visible notional.
$697969
Puts · 8-21 days · ITM
puts cluster with 2553 contracts traded, $562952 estimated gross traded notional, and 13% of visible notional.
$562952
Calls · 22-45 days · ITM
calls cluster with 313 contracts traded, $335458 estimated gross traded notional, and 8% of visible notional.
$335458
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Volume rank100th
Volume/OI rank100th
IV rank100th
Market Context
Underlying confirmation
Close35.82
1W-3.7%
RS-20.5
Fair value-13.7%
Options pressure-27
Speculation41
Volatility88
Trend fit95
Today Versus Normal
Stored-options context
30d avg 7.2% · 1 read
100th
90d avg 7.2% · 1 read
100th
180d avg 7.2% · 1 read
100th
30d avg 0.70 · 1 read
100th
90d avg 0.70 · 1 read
100th
180d avg 0.70 · 1 read
100th
30d avg 0.33 · 1 read
100th
90d avg 0.33 · 1 read
100th
180d avg 0.33 · 1 read
100th
30d avg 0.02 · 1 read
100th
90d avg 0.02 · 1 read
100th
180d avg 0.02 · 1 read
100th
Pressure Trail
Recent pressure and volatility
29 Jul 10:23
Bullish
Pressure 52
Move 7.2%
29 Jul 23:20
Volatility
Pressure -27
Move 7.9%
Strike Map
Where activity is clustering
Strike25.00
Calls · V 80 · OI 8
Puts · V 7 · OI 7
Strike29.00
Calls · V 0 · OI 0
Puts · V 1 · OI 10
Strike30.00
Calls · V 94 · OI 6
Puts · V 1 · OI 10
Strike31.00
Calls · V 0 · OI 0
Puts · V 12 · OI 68
Strike32.00
Calls · V 0 · OI 0
Puts · V 3 · OI 192
Strike32.50
Calls · V 0 · OI 0
Puts · V 26 · OI 120
Strike33.00
Calls · V 0 · OI 0
Puts · V 32 · OI 109
Strike33.50
Calls · V 0 · OI 0
Puts · V 1 · OI 1288
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts47
Avg IV0.91
Put-call0.84
Expiry7 Aug 2026
Contracts40
Avg IV0.64
Put-call2.34
Expiry14 Aug 2026
Contracts26
Avg IV0.76
Put-call17.04
Expiry21 Aug 2026
Contracts54
Avg IV0.67
Put-call0.25
Expiry28 Aug 2026
Contracts23
Avg IV0.60
Put-call0.23
Skew
Call/put IV balance
31 Jul 2026Balanced skew
Call IV0.94
Put IV0.96
Skew0.02
7 Aug 2026Put IV premium
Call IV0.51
Put IV1.03
Skew0.52
14 Aug 2026Balanced skew
Call IV0.74
Put IV0.70
Skew-0.04
21 Aug 2026Put IV premium
Call IV0.66
Put IV0.92
Skew0.25
28 Aug 2026Call IV premium
Call IV0.63
Put IV0.57
Skew-0.06
Contract Tape
Most active contracts
ContractONON260814P00050000
SidePut
Expiry14 Aug 2026
Strike50.00
Volume-
OI-
IV1.46
ContractONON260828P00034000
SidePut
Expiry28 Aug 2026
Strike34.00
Volume-
OI848
IV0.57
ContractONON260821P00036500
SidePut
Expiry21 Aug 2026
Strike36.50
Volume-
OI111
IV0.58
ContractONON260807C00037500
SideCall
Expiry7 Aug 2026
Strike37.50
Volume-
OI31
IV0.51
ContractONON270617P00022500
SidePut
Expiry17 Jun 2027
Strike22.50
Volume-
OI30
IV0.68
ContractONON260821C00034500
SideCall
Expiry21 Aug 2026
Strike34.50
Volume-
OI27
IV0.87
ContractONON260731C00045500
SideCall
Expiry31 Jul 2026
Strike45.50
Volume-
OI21
IV3.36
ContractONON260807C00035500
SideCall
Expiry7 Aug 2026
Strike35.50
Volume-
OI20
IV0.78
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.