Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
AUPH options intelligence
Aurinia Pharmaceuticals Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
49
Market data through 12 Aug 2026
Checked 13 Aug 2026 13:06 · complete available chain
Call-side pressure
Bullish pressure
AUPH currently carries bullish options pressure with a 49/100 conviction score. The nearest-chain expected move is 7.4%, with volume/open-interest participation at 0.00.
Expected move
7.4%
Wider near-term move priced
Activity / OI
0.00
Current volume is quieter versus prior open interest
Put-call
0.02
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
+6.5%
RS -4.9
Expected move
7.4%
Put-call volume
0.02
Volume / OI
0.00
Reference IV
0.56
Max pain
16.00
Underlying
15.85
Nearest expiry
21 Aug 2026
Contracts
184
Research Brief
AUPH has a bullish chain read with 49/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 14.68–17.02; The largest call open-interest concentration is 17.00; the largest put concentration is 14.00. The most active strike by current volume is 17.00.
Priced range14.68–17.02
Call concentration17.00
Put concentration14.00
Max pain reference16.00
- Price holds or improves while call-side concentration remains elevated.
- 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 14.68 to 17.02. Max pain at 16.00 sits inside that range, 0.9% above spot.
Spot
Max pain
14.6815.85 ± 1.1717.02
Confirmation level
A close beyond 17.02 or below 14.68 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 49/100
Pressure is 99/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure99 × 42%
+41.7
How strongly activity leans toward calls or puts.
Participation1 × 22%
+0.2
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.
Volatility69 × 10%
+6.9
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 17.00; the largest put concentration is 14.00. The most active strike by current volume is 17.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
9
5.00-68.5%
0
4
6.00-62.1%
0
5
7.00-55.8%
0
0
10.00-36.9%
3
0
11.00-30.6%
18
8
12.00-24.3%
17
53
13.00-18.0%
24
364
14.00-11.7%
105
254
15.00-5.4%
130
111
16.000.9%
324
262
17.007.3%
1261
9
18.0013.6%
576
23
19.0019.9%
141
0
20.0026.2%
395
0
21.0032.5%
92
0
22.0038.8%
27
0
25.0057.7%
21
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+$34,993Delta change / 1% move
Positive peak20.00+$137,090
Negative peak15.00-$235,041
Nearest balance15.93Interpolated sign change
StrikeNegativePositiveNet / 1% move
5.00-68.5%
+$87
6.00-62.1%
+$3
7.00-55.8%
+$117
8.00-49.5%
+$64
9.00-43.2%
+$9
10.00-36.9%
+$2,080
11.00-30.6%
+$958
12.00-24.3%
-$1,268
13.00-18.0%
-$4,651
14.00-11.7%
-$9,168
15.00-5.4%
-$235,041
16.000.9%
+$17,524
17.007.3%
+$78,672
18.0013.6%
+$10,176
19.0019.9%
+$5,814
20.0026.2%
+$137,090
21.0032.5%
+$6,737
22.0038.8%
+$3,125
23.0045.1%
+$1,011
24.0051.4%
+$246
25.0057.7%
+$19,076
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.
0.56
21 Aug
9d
0.39
18 Sep
37d
0.41
16 Oct
65d
0.51
15 Jan
156d
0.40
21 Jan
527d
Volatility by Strike
Balanced wings
Comparable upside calls and downside puts carry broadly similar implied volatility.
13
14
15
16
17
18
19
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
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 184 / 184
- 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: $5,805 of estimated gross traded notional, calls · 46-90 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+99
1W price+6.5%
Call premium98%
Put premium2%
Notional split
C 98% / P 2%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.00
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.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 46-90 days · OTM
calls cluster with 72 contracts traded, $2,980 estimated gross traded notional, and 51% of visible notional.
$2,980
Calls · 8-21 days · ATM
calls cluster with 15 contracts traded, $562 estimated gross traded notional, and 10% of visible notional.
$562
Calls · 46-90 days · ATM
calls cluster with 6 contracts traded, $555 estimated gross traded notional, and 10% of visible notional.
$555
Calls · 91+ days · OTM
calls cluster with 7 contracts traded, $538 estimated gross traded notional, and 9% of visible notional.
$538
Calls · 91+ days · ITM
calls cluster with 1 contracts traded, $465 estimated gross traded notional, and 8% of visible notional.
$465
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.
Options positioning is not confirming the underlying trend context.
Underlying price is close to the max-pain zone.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 10 completed sessions
Volume rank0th
Volume/OI rank0th
IV rank40th
Market Context
Underlying confirmation
Close15.85
1W+6.5%
RS-4.9
Fair value+60.6%
Options pressure99
Speculation1
Volatility69
Trend fit0
Today Versus Normal
Stored-options context
30d avg 9.7% · 10 sessions
10th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.60 · 10 sessions
40th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.37 · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.02 · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 11:01
Mixed
Pressure 12
Move 9.8%
30 Jul 10:50
Bullish
Pressure 73
Move 9.1%
30 Jul 23:44
Volatility
Pressure -7
Move 8.0%
31 Jul 00:41
Bullish
Pressure 83
Move 8.0%
2 Aug 01:23
Volatility
Pressure 75
Move 12.1%
2 Aug 05:03
Mixed
Pressure 8
Move 12.1%
4 Aug 10:16
Volatility
Pressure 77
Move 9.2%
5 Aug 10:52
Volatility
Pressure 83
Move 11.1%
Strike Map
Where activity is clustering
Strike5.00
Calls · V 0 · OI 0
Puts · V 0 · OI 9
Strike6.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike7.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike8.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike9.00
Calls · V 0 · OI 1
Puts · V 0 · OI 0
Strike10.00
Calls · V 0 · OI 3
Puts · V 0 · OI 0
Strike11.00
Calls · V 0 · OI 18
Puts · V 0 · OI 0
Strike12.00
Calls · V 0 · OI 17
Puts · V 0 · OI 8
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts42
Avg IV0.56
Put-call0.07
Expiry18 Sep 2026
Contracts34
Avg IV0.39
Put-call-
Expiry16 Oct 2026
Contracts42
Avg IV0.41
Put-call-
Expiry15 Jan 2027
Contracts44
Avg IV0.51
Put-call-
Expiry21 Jan 2028
Contracts22
Avg IV0.40
Put-call-
Skew
Call/put IV balance
21 Aug 2026Call IV premium
Call IV0.62
Put IV0.46
Skew-0.16
18 Sep 2026Call IV premium
Call IV0.79
Put IV0.38
Skew-0.41
16 Oct 2026Balanced skew
Call IV0.44
Put IV0.43
Skew-0.01
15 Jan 2027Balanced skew
Call IV0.50
Put IV0.48
Skew-0.02
21 Jan 2028Call IV premium
Call IV0.56
Put IV0.03
Skew-0.53
Contract Tape
Most active contracts
ContractAUPH261016C00020000
SideCall
Expiry16 Oct 2026
Strike20.00
Volume38
OI6828
IV0.50
ContractAUPH261016C00017000
SideCall
Expiry16 Oct 2026
Strike17.00
Volume34
OI1666
IV0.44
ContractAUPH260821C00017000
SideCall
Expiry21 Aug 2026
Strike17.00
Volume19
OI1261
IV0.33
ContractAUPH260821C00016000
SideCall
Expiry21 Aug 2026
Strike16.00
Volume15
OI324
IV0.62
ContractAUPH260821C00018000
SideCall
Expiry21 Aug 2026
Strike18.00
Volume8
OI576
IV0.47
ContractAUPH270115C00020000
SideCall
Expiry15 Jan 2027
Strike20.00
Volume6
OI1282
IV0.49
ContractAUPH261016C00016000
SideCall
Expiry16 Oct 2026
Strike16.00
Volume6
OI286
IV0.43
ContractAUPH260821C00015000
SideCall
Expiry21 Aug 2026
Strike15.00
Volume2
OI130
IV0.83
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.