Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
ALGM options intelligence
Allegro Microsystems Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
41
Market data through 12 Aug 2026
Checked 13 Aug 2026 12:41 · complete available chain
Call-side pressure
Bullish pressure
ALGM currently carries bullish options pressure with a 41/100 conviction score. The nearest-chain expected move is 8.6%, with volume/open-interest participation at 0.01.
Expected move
8.6%
Wider near-term move priced
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.37
Call-side skew
Trend fit
48
Options are not fully confirming trend
Weekly backdrop
+5.5%
RS 5.9
Expected move
8.6%
Put-call volume
0.37
Volume / OI
0.01
Reference IV
0.67
Max pain
47.50
Underlying
43.77
Nearest expiry
21 Aug 2026
Contracts
562
Research Brief
ALGM has a bullish chain read with 41/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 40.00–47.54; The largest call open-interest concentration is 60.00; the largest put concentration is 40.00. The most active strike by current volume is 47.50.
Priced range40.00–47.54
Call concentration60.00
Put concentration40.00
Max pain reference47.50
- 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.
Priced Move
Where the chain says movement becomes exceptional
Options imply 40.00 to 47.54. Max pain at 47.50 sits inside that range, 8.5% above spot.
Spot
Max pain
40.0043.77 ± 3.7747.54
Confirmation level
A close beyond 47.54 or below 40.00 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 41/100
Pressure is 45/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure45 × 42%
+18.8
How strongly activity leans toward calls or puts.
Participation8 × 22%
+1.8
Volume relative to existing open interest and contract-level activity.
Trend agreement48 × 26%
+12.6
How closely the chain read agrees with the underlying trend backdrop.
Volatility82 × 10%
+8.2
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 60.00; the largest put concentration is 40.00. The most active strike by current volume is 47.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
305
15.00-65.7%
12
440
32.50-25.7%
43
692
35.00-20.0%
36
371
37.50-14.3%
56
1404
40.00-8.6%
360
149
42.50-2.9%
169
691
45.002.8%
421
238
47.508.5%
244
374
50.0014.2%
235
67
52.5019.9%
266
65
55.0025.7%
475
177
60.0037.1%
873
226
62.5042.8%
168
100
65.0048.5%
338
4
67.5054.2%
185
0
75.0071.4%
198
0
85.0094.2%
206
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Negative gamma proxy
Put-side gamma sensitivity outweighs the call-side proxy across the retained chain. The largest bars mark levels where delta-hedging sensitivity may be most concentrated.
Net profile-$271,074Delta change / 1% move
Positive peak60.00+$22,713
Negative peak40.00-$177,092
Nearest balance48.02Interpolated sign change
StrikeNegativePositiveNet / 1% move
20.00-54.3%
-$57
22.50-48.6%
-$162
25.00-42.9%
+$436
27.50-37.2%
+$316
30.00-31.5%
-$13,828
32.50-25.7%
-$21,993
35.00-20.0%
-$19,423
37.50-14.3%
-$38,168
40.00-8.6%
-$177,092
42.50-2.9%
-$39,395
45.002.8%
-$64,791
47.508.5%
-$3,752
50.0014.2%
+$14,263
52.5019.9%
+$19,581
55.0025.7%
+$14,438
57.5031.4%
+$7,917
60.0037.1%
+$22,713
62.5042.8%
+$5,471
65.0048.5%
+$3,163
67.5054.2%
+$866
70.0059.9%
+$4,312
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.
0.67
21 Aug
9d
0.72
18 Sep
37d
0.76
20 Nov
100d
0.75
15 Jan
156d
0.77
19 Feb
191d
0.79
21 May
282d
0.78
20 Aug
373d
0.77
17 Dec
492d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
38
40
43
45
48
50
53
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
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 12 Aug 2026
- Calculation
- v2.0
- Contracts
- 562 / 562
- 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
Short-dated OTM call concentration
Call activity is concentrated in upside and shorter-dated contracts; trade direction remains unconfirmed without aggressor data.
Options pressure and weekly price action are pointing in the same constructive direction.
Short-dated OTM call concentration matters because it connects the options headline to the actual evidence: $52,952 of estimated gross traded notional, calls · 91+ 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+45
1W price+5.5%
Call premium71%
Put premium29%
Notional split
C 71% / P 29%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
48/100
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 17 contracts traded, $12,662 estimated gross traded notional, and 24% of visible notional.
$12,662
Calls · 91+ days · ITM
calls cluster with 9 contracts traded, $11,835 estimated gross traded notional, and 22% of visible notional.
$11,835
Calls · 22-45 days · OTM
calls cluster with 44 contracts traded, $9,195 estimated gross traded notional, and 17% of visible notional.
$9,195
Puts · 22-45 days · ITM
puts cluster with 10 contracts traded, $5,665 estimated gross traded notional, and 11% of visible notional.
$5,665
Puts · 22-45 days · OTM
puts cluster with 13 contracts traded, $3,780 estimated gross traded notional, and 7% of visible notional.
$3,780
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.
Call pressure is building while the stock sits above Sharemaestro fair value.
Activity Anomaly
Warming up
9 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 9 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close43.77
1W+5.5%
RS5.9
Fair value+44.5%
Options pressure45
Speculation8
Volatility82
Trend fit48
Today Versus Normal
Stored-options context
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
30d avg - · 9/10 sessions
-
90d avg - · 9/30 sessions
-
180d avg - · 9/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:28
Volatility
Pressure 20
Move 23.8%
30 Jul 10:24
Volatility
Pressure 7
Move 21.7%
30 Jul 15:23
Volatility
Pressure -33
Move 21.3%
30 Jul 15:44
Volatility
Pressure -33
Move 20.3%
30 Jul 19:32
Volatility
Pressure -44
Move 19.7%
31 Jul 09:02
Volatility
Pressure -31
Move 18.6%
31 Jul 13:35
Bearish
Pressure -35
Move 18.5%
31 Jul 14:45
Volatility
Pressure -45
Move 17.2%
Strike Map
Where activity is clustering
Strike15.00
Calls · V 0 · OI 12
Puts · V 0 · OI 305
Strike17.50
Calls · V 0 · OI 0
Puts · V 0 · OI 13
Strike20.00
Calls · V 0 · OI 5
Puts · V 0 · OI 3
Strike22.50
Calls · V 0 · OI 8
Puts · V 0 · OI 122
Strike25.00
Calls · V 0 · OI 18
Puts · V 0 · OI 38
Strike27.50
Calls · V 0 · OI 11
Puts · V 0 · OI 80
Strike30.00
Calls · V 0 · OI 36
Puts · V 10 · OI 47
Strike32.50
Calls · V 0 · OI 43
Puts · V 0 · OI 440
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts58
Avg IV0.67
Put-call0.31
Expiry18 Sep 2026
Contracts38
Avg IV0.72
Put-call0.50
Expiry20 Nov 2026
Contracts56
Avg IV0.76
Put-call1.00
Expiry15 Jan 2027
Contracts68
Avg IV0.75
Put-call0.67
Expiry19 Feb 2027
Contracts58
Avg IV0.77
Put-call-
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.67
Put IV0.75
Skew0.08
18 Sep 2026Balanced skew
Call IV0.66
Put IV0.71
Skew0.05
20 Nov 2026Call IV premium
Call IV0.83
Put IV0.78
Skew-0.06
15 Jan 2027Balanced skew
Call IV0.75
Put IV0.77
Skew0.02
19 Feb 2027Balanced skew
Call IV0.81
Put IV0.79
Skew-0.03
Contract Tape
Most active contracts
ContractALGM260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume21
OI101
IV0.72
ContractALGM260821C00045000
SideCall
Expiry21 Aug 2026
Strike45.00
Volume18
OI421
IV0.79
ContractALGM260821C00047500
SideCall
Expiry21 Aug 2026
Strike47.50
Volume17
OI244
IV0.67
ContractALGM260918C00050000
SideCall
Expiry18 Sep 2026
Strike50.00
Volume14
OI1370
IV0.66
ContractALGM260821C00057500
SideCall
Expiry21 Aug 2026
Strike57.50
Volume12
OI58
IV0.76
ContractALGM260821P00030000
SidePut
Expiry21 Aug 2026
Strike30.00
Volume10
OI47
IV0.89
ContractALGM260918P00042500
SidePut
Expiry18 Sep 2026
Strike42.50
Volume9
OI474
IV0.66
ContractALGM260918P00045000
SidePut
Expiry18 Sep 2026
Strike45.00
Volume9
OI105
IV0.75
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.