Ticker Options Intelligence

WULF options intelligence

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

Conviction 45 Market data through 31 Jul 2026 Checked 31 Jul 2026 14:40 · complete available chain

Call-side pressure

Bullish pressure

WULF currently carries bullish options pressure with a 45/100 conviction score. The nearest-chain expected move is 6.2%, with volume/open-interest participation at 0.09.

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

Call-side pressure

Expected move 6.2%

Wider near-term move priced

Activity / OI 0.09

Current volume is quieter versus prior open interest

Put-call 0.43

Call-side skew

Trend fit 48

Options are not fully confirming trend

Weekly backdrop -4.3%

RS 3.6

Expected move 6.2%
Put-call volume 0.43
Volume / OI 0.09
Reference IV 0.09
Max pain 18.00
Underlying 18.46
Nearest expiry 31 Jul 2026
Contracts 1040

Research Brief

WULF has a bullish chain read with 45/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 17.32–19.60; The largest call open-interest concentration is 16.00; the largest put concentration is 18.00. The most active strike by current volume is 17.50.

Priced range17.32–19.60
Call concentration16.00
Put concentration18.00
Max pain reference18.00
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 31 Jul

Options imply 17.32 to 19.60. Max pain at 18.00 sits inside that range, 2.5% below spot.

Spot Max pain
17.3218.46 ± 1.1419.60
Confirmation level

A close beyond 19.60 or below 17.32 at the 31 Jul 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 45/100

Evidence alignment, not probability

Pressure is 47/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure47 × 42%
+19.9

How strongly activity leans toward calls or puts.

Participation42 × 22%
+9.2

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

Trend agreement48 × 26%
+12.4

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

Volatility31 × 10%
+3.1

The intensity of implied volatility and the priced move.

Reconstructed score44.7Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 16.00; the largest put concentration is 18.00. The most active strike by current volume is 17.50. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
2331
14.00-24.2%
0
2600
15.00-18.7%
302
2508
16.00-13.3%
7439
1150
16.50-10.6%
934
882
17.00-7.9%
2289
1847
17.50-5.2%
6323
11857
18.00-2.5%
3813
2701
18.500.2%
6691
756
19.002.9%
4909
2238
19.505.6%
2607
995
20.008.3%
5377
66
20.5011.1%
1669
151
22.0019.2%
4227
0
23.0024.6%
4348
0
23.5027.3%
6428
3
28.0051.7%
2047
11
33.0078.8%
2276
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

8.37× front/back

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

0.09 31 Jul 0d
0.03 7 Aug 7d
0.04 14 Aug 14d
0.02 21 Aug 21d
0.02 28 Aug 28d
0.01 4 Sep 35d
0.02 18 Sep 49d
0.02 16 Oct 77d

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.

15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
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 31 Jul 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

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
1040 / 1040
  • 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

72/100
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 against weak price

Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $34.7M of estimated gross traded notional, calls · 91+ days · otm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+47
1W price-4.3%
Call premium59%
Put premium41%
Notional split C 59% / P 41% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.09 Volume divided by open interest across the visible chain.
Trend fit 48/100 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 21555 contracts traded, $5.8M estimated gross traded notional, and 17% of visible notional.
$5.8M
Calls · 46-90 days · OTM calls cluster with 38814 contracts traded, $4.4M estimated gross traded notional, and 13% of visible notional.
$4.4M
Puts · 91+ days · ITM puts cluster with 3171 contracts traded, $3.6M estimated gross traded notional, and 10% of visible notional.
$3.6M
Calls · 8-21 days · ITM calls cluster with 8446 contracts traded, $2.9M estimated gross traded notional, and 8% of visible notional.
$2.9M
Puts · 91+ days · OTM puts cluster with 13077 contracts traded, $2.3M estimated gross traded notional, and 7% of visible notional.
$2.3M

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Warning Bullish pressure over fair value

Call pressure is building while the stock sits above Sharemaestro fair value.

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
Close17.66
1W-4.3%
RS3.6
Fair value+130.6%
Options pressure47
Speculation42
Volatility31
Trend fit48

Today Versus Normal

Stored-options context

View history
Expected move 6.2% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.09 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.43 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.09 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 10:24 Volatility
Pressure 11
Move 10.8%
30 Jul 10:20 Volatility
Pressure 55
Move 18.8%
31 Jul 12:08 Volatility
Pressure 50
Move 6.4%
31 Jul 13:40 Bullish
Pressure 47
Move 6.2%

Strike Map

Where activity is clustering

Full strike map
Strike11.00
Calls · V 1 · OI 5
Puts · V 100 · OI 208
Strike12.00
Calls · V 8 · OI 8
Puts · V 5 · OI 782
Strike12.50
Calls · V 12 · OI 3
Puts · V 2 · OI 61
Strike13.00
Calls · V 9 · OI 74
Puts · V 1 · OI 166
Strike13.50
Calls · V 2 · OI 48
Puts · V 0 · OI 0
Strike14.00
Calls · V 0 · OI 0
Puts · V 68 · OI 2331
Strike14.50
Calls · V 17 · OI 51
Puts · V 39 · OI 864
Strike15.00
Calls · V 28 · OI 302
Puts · V 69 · OI 2600

Term Structure

Expiration activity

Volume and IV
Expiry31 Jul 2026
Contracts83
Avg IV0.09
Put-call0.56
Expiry7 Aug 2026
Contracts77
Avg IV0.03
Put-call0.22
Expiry14 Aug 2026
Contracts59
Avg IV0.04
Put-call1.71
Expiry21 Aug 2026
Contracts95
Avg IV0.02
Put-call0.54
Expiry28 Aug 2026
Contracts61
Avg IV0.02
Put-call0.52

Skew

Call/put IV balance

OTM demand
31 Jul 2026Call IV premium
Call IV0.50
Put IV0.25
Skew-0.25
7 Aug 2026Call IV premium
Call IV0.13
Put IV0.06
Skew-0.06
14 Aug 2026Call IV premium
Call IV0.13
Put IV0.02
Skew-0.11
21 Aug 2026Balanced skew
Call IV0.06
Put IV0.06
Skew-
28 Aug 2026Balanced skew
Call IV0.06
Put IV0.03
Skew-0.03

Contract Tape

Most active contracts

Full contract tape
ContractWULF270917P00037000
SidePut
Expiry17 Sep 2027
Strike37.00
Volume-
OI46
IV0.00
ContractWULF270416P00010000
SidePut
Expiry16 Apr 2027
Strike10.00
Volume-
OI40
IV0.13
ContractWULF260828P00031000
SidePut
Expiry28 Aug 2026
Strike31.00
Volume-
OI35
IV0.00
ContractWULF270319P00021000
SidePut
Expiry19 Mar 2027
Strike21.00
Volume-
OI35
IV0.00
ContractWULF270617P00037000
SidePut
Expiry17 Jun 2027
Strike37.00
Volume-
OI34
IV0.00
ContractWULF270219C00011000
SideCall
Expiry19 Feb 2027
Strike11.00
Volume-
OI30
IV0.00
ContractWULF270319C00029000
SideCall
Expiry19 Mar 2027
Strike29.00
Volume-
OI30
IV0.13
ContractWULF261120P00039000
SidePut
Expiry20 Nov 2026
Strike39.00
Volume-
OI20
IV0.00

Research Graph

Related research and context

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