Ticker Options Intelligence

ERII options intelligence

Energy Recovery Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 35 Market data through 31 Jul 2026 Checked 1 Aug 2026 21:25 · complete available chain

Call-side pressure

Bullish pressure

ERII currently carries bullish options pressure with a 35/100 conviction score. The nearest-chain expected move is 21.4%, with volume/open-interest participation at 0.00.

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

Call-side pressure

Expected move 21.4%

Wider near-term move priced

Activity / OI 0.00

Current volume is quieter versus prior open interest

Put-call 0.21

Call-side skew

Trend fit 4

Options are not fully confirming trend

Weekly backdrop +2.7%

RS -37.4

Expected move 21.4%
Put-call volume 0.21
Volume / OI 0.00
Reference IV 0.78
Max pain 7.50
Underlying 8.65
Nearest expiry 21 Aug 2026
Contracts 66

Research Brief

ERII has a bullish chain read with 35/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 6.79–10.51; The largest call open-interest concentration is 12.50; the largest put concentration is 7.50. The most active strike by current volume is 10.00.

Priced range6.79–10.51
Call concentration12.50
Put concentration7.50
Max pain reference7.50
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • 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

Size, not direction · through 21 Aug

Options imply 6.79 to 10.51. Max pain at 7.50 sits inside that range, 13.3% below spot.

Spot Max pain
6.798.65 ± 1.8610.51
Confirmation level

A close beyond 10.51 or below 6.79 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 35/100

Evidence alignment, not probability

Pressure is 57/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure57 × 42%
+23.8

How strongly activity leans toward calls or puts.

Participation2 × 22%
+0.4

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

Trend agreement4 × 26%
+1.0

How closely the chain read agrees with the underlying trend backdrop.

Volatility95 × 10%
+9.5

The intensity of implied volatility and the priced move.

Reconstructed score34.7Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 12.50; the largest put concentration is 7.50. The most active strike by current volume is 10.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
2.50-71.1%
1
0
5.00-42.2%
9
370
7.50-13.3%
427
179
10.0015.6%
1055
56
12.5044.5%
2500
5
15.0073.4%
179
0
17.50102.3%
52
1
20.00131.2%
134
0
22.50160.1%
11
0
25.00189.0%
6
0
30.00246.8%
31
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.17× front/back

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

0.78 21 Aug 21d
0.66 18 Sep 49d
0.71 20 Nov 112d
0.67 19 Feb 203d

Volatility by Strike

Upside optionality premium

Nearest expiry, within 20% of spot

Out-of-the-money calls carry higher implied volatility than comparable puts, indicating richer upside optionality.

8
10
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

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
  • Versioned calculationv2 observations only
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

High

A97/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
66 / 66
  • 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

86/100
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 Bullish flow confirms price

Options pressure and weekly price action are pointing in the same constructive direction.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $2388 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+57
1W price+2.7%
Call premium80%
Put premium20%
Notional split C 80% / P 20% 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 4/100 Agreement between options pressure and Sharemaestro market context.
Event window 5 Aug Matched earnings event is 4 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 · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 14 contracts traded, $1135 estimated gross traded notional, and 48% of visible notional.
$1135
Calls · 8-21 days · ITM calls cluster with 4 contracts traded, $590 estimated gross traded notional, and 25% of visible notional.
$590
Puts · 91+ days · OTM puts cluster with 3 contracts traded, $270 estimated gross traded notional, and 11% of visible notional.
$270
Calls · 8-21 days · OTM calls cluster with 6 contracts traded, $180 estimated gross traded notional, and 8% of visible notional.
$180
Puts · 8-21 days · ITM puts cluster with 1 contracts traded, $175 estimated gross traded notional, and 7% of visible notional.
$175

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
Close8.65
1W+2.7%
RS-37.4
Fair value-42.3%
Options pressure57
Speculation2
Volatility95
Trend fit4

Today Versus Normal

Stored-options context

View history
Expected move 21.4% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.78 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.21 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.00 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 11:28 Volatility
Pressure 91
Move 21.4%
30 Jul 11:13 Bullish
Pressure 75
Move 17.8%
31 Jul 10:50 Volatility
Pressure -52
Move 20.8%
1 Aug 20:25 Bullish
Pressure 57
Move 21.4%

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 9
Puts · V 0 · OI 0
Strike7.50
Calls · V 4 · OI 427
Puts · V 1 · OI 370
Strike10.00
Calls · V 6 · OI 1055
Puts · V 1 · OI 179
Strike12.50
Calls · V 0 · OI 2500
Puts · V 0 · OI 56
Strike15.00
Calls · V 0 · OI 179
Puts · V 0 · OI 5
Strike17.50
Calls · V 0 · OI 52
Puts · V 0 · OI 0
Strike20.00
Calls · V 0 · OI 134
Puts · V 0 · OI 1

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts22
Avg IV0.78
Put-call0.20
Expiry18 Sep 2026
Contracts14
Avg IV0.66
Put-call-
Expiry20 Nov 2026
Contracts16
Avg IV0.71
Put-call0.50
Expiry19 Feb 2027
Contracts14
Avg IV0.67
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Call IV premium
Call IV0.89
Put IV0.34
Skew-0.56
18 Sep 2026Put IV premium
Call IV0.69
Put IV0.81
Skew0.12
20 Nov 2026Put IV premium
Call IV0.70
Put IV0.81
Skew0.12
19 Feb 2027Balanced skew
Call IV0.75
Put IV0.78
Skew0.03

Contract Tape

Most active contracts

Full contract tape
ContractERII260821C00010000
SideCall
Expiry21 Aug 2026
Strike10.00
Volume6
OI1055
IV0.89
ContractERII270219C00010000
SideCall
Expiry19 Feb 2027
Strike10.00
Volume6
OI234
IV0.66
ContractERII261120C00012500
SideCall
Expiry20 Nov 2026
Strike12.50
Volume5
OI924
IV0.70
ContractERII260821C00007500
SideCall
Expiry21 Aug 2026
Strike7.50
Volume4
OI427
IV0.99
ContractERII261120P00007500
SidePut
Expiry20 Nov 2026
Strike7.50
Volume3
OI10061
IV0.81
ContractERII270219C00015000
SideCall
Expiry19 Feb 2027
Strike15.00
Volume2
OI9
IV0.31
ContractERII261120C00010000
SideCall
Expiry20 Nov 2026
Strike10.00
Volume1
OI1026
IV0.67
ContractERII260821P00007500
SidePut
Expiry21 Aug 2026
Strike7.50
Volume1
OI370
IV0.34